Startup Professionals Musings

SEPTEMBER 18, 2022

How an entrepreneur answers this question speaks volumes about their knowledge of business realities, customers, confidence, and their ability to handle investor funding. Leading with this answer will likely terminate any further investment opportunity with this investor. Money from customers and investors is the same color.

Competition 133

Competition Patents Resource Invest 133

Startup Professionals Musings

NOVEMBER 29, 2019

As a mentor to many aspiring entrepreneurs, I challenge them to think beyond what I call linear extensions to a current trend, such as another “easier-to-use” app for smartphones, a new dating site for pets, or another niche social network. Also evaluate the values of desired customers. Great social entrepreneurs are rare.

Entrepreneur 126

Entrepreneur Ideas Resource Examples 126

Startup Professionals Musings

MAY 7, 2023

Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand and relate to. Customer data integrity and security. Payback on investment. Personal privacy protection.

Social Network 108

Social Network Training Startup Technology 108

Startup Professionals Musings

MAY 13, 2023

In my experience, consummate entrepreneurs tend come up with more startup ideas than they can ever implement, and some of the ideas may not even make business sense. But how does any entrepreneur know which ideas to implement, and which ones are best left behind? Check for intellectual property barriers in your way.

Ideas 106

Ideas Technical Review Patents Startup 106

Startup Professionals Musings

JUNE 25, 2021

It seems like everyone wants to be an entrepreneur and get rich these days. Ask some potential customers to see if there is real interest, and start thinking about price versus cost. File at least a provisional patent and one or more trademarks. All the evidence says that over 99% fail to make that leap.

Ideas 136

Ideas Entrepreneur Mentor Resource 136

Startup Professionals Musings

AUGUST 17, 2020

In my experience, consummate entrepreneurs tend come up with more startup ideas than they can ever implement, and some of the ideas may not even make business sense. But how does any entrepreneur know which ideas to implement, and which ones are best left behind? Check for intellectual property barriers in your way.

Technical Review 173

Technical Review Ideas Patents Startup 173

Startup Professionals Musings

AUGUST 15, 2020

Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand and relate to. Customer data integrity and security. Payback on investment. Personal privacy protection.

Technology 165

Technology Social Network Training Startup 165

Startup Professionals Musings

SEPTEMBER 21, 2018

If you are one of the thousands of entrepreneurs who need equity funding to get your startup going (no loans to repay), you are probably overwhelmed at the prospect of finding, contacting and pitching to the huge number of qualified angels and investment groups around the country. Collect target customer testimonials and advocacy.

Platform 94

Platform Equity Invest Technical Advisors 94

Startup Professionals Musings

AUGUST 30, 2014

Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand. Customer data integrity and security. Payback on investment. Personal-privacy assurances.

Customer 98

Customer Custom Technology Startup 98

Berkonomics

APRIL 13, 2017

Test yourself as to whether you can identify the size of your market niche, and whether you can overcome the many barriers to access customers within your niche. A core patent or “thicket” of patents protecting your offering? A strategic relationship with one or more of the largest customers? Are margins high enough?

Patents 291

Patents Pricing Ideas Marketing 291

Startup Professionals Musings

JUNE 25, 2014

How an entrepreneur answers this question speaks volumes about their knowledge of business realities, customers, confidence, and their ability to handle investor funding. Leading with this answer will likely terminate any further investment opportunity with this investor. Money from customers and investors is the same color.

Entrepreneur 110

Entrepreneur Competition Patents Resource 110

Berkonomics

MARCH 5, 2020

In the creation of a young company, there are five principal risks to be addressed by the entrepreneur. Professional investors will probe these five risk areas and make the decision to invest based upon comfort with each. Second: Market risk. . Are you ahead or behind the market with your product or service?

Outsource Development 156

Outsource Development Ideas Resource Patents 156

Startup Professionals Musings

FEBRUARY 13, 2016

Entrepreneurs who are looking to attract investors need to develop and pitch a plan -- preferably written -- that answers every potential investor question about your startup before it is asked. Investors want to hear about customers with money who have a painful problem that you can solve now.

Invest 108

Invest Startup Slides Equity 108

Startup Professionals Musings

AUGUST 12, 2015

As a startup investor in this age of the entrepreneur, I see many more startups, but innovation is still hard to find. An entrepreneur looking for a sure thing will never innovate. It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics.

Entrepreneur 101

Entrepreneur Startup Coach Metrics 101

Startup Professionals Musings

APRIL 29, 2023

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. If you don’t have a high level of commitment and passion, you customers won’t seek you out.

Startup 111

Startup Training Services Writing 111

Startup Professionals Musings

SEPTEMBER 27, 2014

In my experience, consummate entrepreneurs tend come up with more startup ideas than they can ever implement, and some of the ideas may not even make business sense. But how does any entrepreneur know which ideas to implement, and which ones are best left behind? Now we soon expect a computer on every wrist.

Ideas 106

Ideas Entrepreneur Technical Review Patents 106

Startup Professionals Musings

MARCH 3, 2023

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Is it any wonder why so few entrepreneurs ever find the professional investors they seek? Yet I’m still often approached by aspiring entrepreneurs who have neither.

Product 112

Product Summary Activity Entrepreneur 112

Startup Professionals Musings

DECEMBER 14, 2019

How an entrepreneur answers this question speaks volumes about their knowledge of business realities, customers, confidence, and their ability to handle investor funding. Leading with this answer will likely terminate any further investment opportunity with this investor. Money from customers and investors is the same color.

Competition 120

Competition Patents Resource Invest 120

Startup Professionals Musings

FEBRUARY 14, 2021

In their passion and excitement about a new product or service, entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. Non-specific terms, like better usability and low cost don’t incite customers to action these days. This approach is not convincing.

Competition 166

Competition Funding Startup Patents 166

Startup Professionals Musings

FEBRUARY 19, 2023

I’m not suggesting that a startup should ever disclose patent details to others before filing, but I can’t imagine why a startup would not seek visibility and feedback for their idea and solution while they could still make changes with minimal cost. Evaluate customer response prior to development.

Marketing 105

Marketing Startup Search Engine Optimization Ideas 105

Startup Professionals Musings

AUGUST 3, 2020

The critical success factors for a product business are well known, starting with selling every unit with a gross margin of 50 percent or more, building a patent and other intellectual property, and continuous product improvement. If you don’t have a high level of commitment and passion, you customers won’t seek you out.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

OCTOBER 15, 2022

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Some entrepreneurs love to talk and produce videos, but hate to write anything down. Message delivery must be customized for each investor.

Entrepreneur 111

Entrepreneur Social Media Patents Mentor 111

Startup Professionals Musings

MARCH 14, 2020

After many years of working with angel investors seriously trying to find new ventures worthy of their hard-earned money, I find their frustration often exceeds that of entrepreneurs sincerely looking for financial help. Here is my list of red flags that cause many investors to look elsewhere: No well-defined need or viable customer set.

Funding 123

Funding Startup Entrepreneur Invest 123

Startup Professionals Musings

DECEMBER 2, 2022

You can’t succeed in business without an operational model that delivers value to customers at a reasonable price, with an underlying cost that allows you to make a profit. A target market is the group of customers that the startup plans to attract through marketing and sales their product or service. Target market. Sales/Marketing.

Sales 102

Sales Customer Custom Outsource 102

Startup Professionals Musings

JULY 23, 2023

Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it. I’m looking for the “hook” right up front, or I lose interest quickly, just like every customer and investor these days.

Startup 96

Startup Education Ideas Customer 96

Startup Professionals Musings

DECEMBER 6, 2014

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Some entrepreneurs love to talk and produce videos, but hate to write anything down. Message delivery must be customized for each investor.

Entrepreneur 107

Entrepreneur Angel Social Media Patents 107

Startup Professionals Musings

AUGUST 18, 2014

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Is it any wonder why so few entrepreneurs ever find the professional investors they seek? Yet I’m still often approached by aspiring entrepreneurs who have neither.

Product 101

Product Entrepreneur Summary Activity 101

Startup Professionals Musings

MARCH 18, 2012

I’ve noticed that some entrepreneurs seem to have no trouble attracting investors, while others with a great business plan struggle with it. The reality is that angel investors are humans, and personal traits often make or break the relationship, even before the investment is considered. Listens before answering questions.

Entrepreneur 117

Entrepreneur Technical Review Course Patents 117

Startup Professionals Musings

JANUARY 13, 2020

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Some entrepreneurs love to talk and produce videos, but hate to write anything down. Message delivery must be customized for each investor.

Entrepreneur 126

Entrepreneur Social Media Patents Mentor 126

Startup Professionals Musings

SEPTEMBER 24, 2014

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. They only want a quick overview of the product, not detailed features and patent secrets. Marty Zwilling.

Entrepreneur 119

Entrepreneur Technical Review Statistics Startup 119

Startup Professionals Musings

MAY 23, 2020

I’m not suggesting that a startup should ever disclose patent details to others before filing, but I can’t imagine why a startup would not seek visibility and feedback for their idea and solution while they could still make changes with minimal cost. Evaluate customer response prior to development.

Search Engine Optimization 174

Search Engine Optimization Ideas Startup Customer 174

Startup Professionals Musings

NOVEMBER 4, 2020

Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it. I’m looking for the “hook” right up front, or I lose interest quickly, just like every customer and investor these days.

Startup 166

Startup Education Ideas Customer 166

InfoChachkie

JANUARY 6, 2014

An invalidated patent or one deemed to infringe the rights of another party can devastate a startup. Defensible Claims - Some companies take pride in the number of patents they own. However, there is not a direct correlation between a patent portfolio’s value and the number of patents which comprise the portfolio.

IP 210

IP Patents Journal Equity 210

Startup Professionals Musings

AUGUST 8, 2016

As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. Of course, I understand and don’t condone bad actors who get greedy, and exploit ways to unjustly squeeze customers and employees. Solve a painful problem for customers who have money to spend.

Entrepreneur 58

Entrepreneur Ideas Pricing Customer 58

Startup Professionals Musings

NOVEMBER 9, 2022

An excellent example is the initiative by Elon Musk and Tesla Motors a few years ago to give away their battery patents, to infrastructure and competitive car providers, without transactional agreements. Another partnering model example is the IBM Watson Group $1 billion investment to share cloud-based development and super-computing tools.

IBM 131

IBM IBM Startup Examples 131

Startup Professionals Musings

DECEMBER 18, 2022

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. They only want a quick overview of the product, not detailed features and patent secrets.

Technical Review 109

Technical Review Startup Statistics Social Media 109

Berkonomics

MARCH 14, 2019

Especially if you are in the early stage of growing a business, these five risks can and often do derail entrepreneurs before realizing the riches of a great exit. Professional investors will probe these five risk areas and make the decision to invest based upon their comfort with each. So, let’s examine them and mitigate them.

Outsource Development 120

Outsource Development Ideas Resource Patents 120