Remove Customer Remove Organization Remove Patents Remove Writing
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Financing with grants, not equity or debt

Berkonomics

The company created a product that could be delivered as a service to medical clinicians anywhere in the world, enhancing their ability to understand their patents’ problems and needs in less time, using the expertise built into an AI expert system created by the best minds in many medical specialties. How refreshing!

Equity 156
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7 Ways Your People Skills Are The Key To Your Success

Startup Professionals Musings

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
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7 Success Factors When Your People Are The Solution

Startup Professionals Musings

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
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Can you finance your company with grants?

Berkonomics

I am chairman of a company that, as I write this, is twelve years old and has not yet taken a dollar of outside investment. The company grows in value to its customers and to prospective buyers of the business, but without any dilution of control or ownership for the founders. Grant writing takes skill and immense amounts of time.

Company 166
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6 Drivers For Aspiring Entrepreneurs To Finish School

Startup Professionals Musings

Mark Zuckerberg, while still in school, tested the viability of his “ FaceMash ” technology as a business by rolling it out to other students at Harvard as customers. He learned quickly that several pivots were required for business, legal, and customer acceptance reasons. Write a business plan and pitch deck for learning.

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10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

A business plan is the outward facing definition of the business you hope to drive with your hardware solution, with a hardware overview in the intro to highlight customer value and competitiveness. Use non-fuzzy terms to quantify customer value. Provide specifics on the customer business model. and trademarks.

Product 169
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6 Steps To Move From Inspiration To Business Reality

Startup Professionals Musings

In my experience, the key steps I look for always include the following: Testing the idea against customers who have money to spend. Writing down key parameters will force you solidify the specifics, and mentally commit to them. Any startup with no patents, trade secrets, or other secret sauce is very high risk today.

Ideas 94