Berkonomics

MARCH 5, 2020

One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer. Any new enterprise is at risk if there are not enough resources to get the company to breakeven, which is a proxy for stability.

Outsource Development 156

Outsource Development Ideas Resource Patents 156

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

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. This priority applies to big companies, as well as startups. Martin Zwilling.

Technology 165

Technology Social Network Training Startup 165

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. The problem is that startups have limited resources to keep them ahead of big companies. Money from customers and investors is the same color.

Competition 133

Competition Patents Resource Invest 133

Startup Professionals Musings

APRIL 26, 2021

But in addition I’ve always found it helpful to provide a simple checklist for new venture founders and new business owners to make sure they have covered all the key bases correctly, including the following: Define and focus on a single customer segment. Quantify your value proposition for customers.

Funding 132

Funding Template Resource Competition 132

Startup Professionals Musings

AUGUST 9, 2020

Value is embodied in previous success with investors, proven problem solving ability, and having built and executed a business plan with minimal resources. Value factors include your related product breadth and depth, relationships with thought leaders, key vendors, and large potential customers.

Startup 174

Startup Equity Patents CTO Hire 174

Startup Professionals Musings

SEPTEMBER 23, 2020

In fact, I think the evidence is clear that many entrepreneurs started their journey while still in college, and capitalized on all the resources there, before moving on: Extend your technology focus with business basics. He learned quickly that several pivots were required for business, legal, and customer acceptance reasons.

Entrepreneur 157

Entrepreneur Mentor Class Resource 157

SoCal CTO

SEPTEMBER 20, 2011

Beyond that, I want lots of conversations with experts, users, customers, VCs, partners, etc. NDAs or Other Protection So you decide you want to be able to share with experts, users, customers, VCs, partners, etc. Some resources on this: Intellectual Property is More Than Patents Does My Startup Have Intellectual Property?

Startup 211

Startup IP Ideas Patents 211

Startup Professionals Musings

JUNE 3, 2020

Both have obviously been able to expand their focus and impact, based on learning from early challenges, availability of additional resources, and early success applied more broadly. It clearly takes focus to create and file a patent, but it will give you a tremendous advantage over “me too” competitors.

Entrepreneur 126

Entrepreneur Startup Patents Resource 126

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. The problem is that startups have limited resources to keep them ahead of big companies. Money from customers and investors is the same color.

Competition 120

Competition Patents Resource Invest 120

SoCal CTO

SEPTEMBER 20, 2011

Beyond that, I want lots of conversations with experts, users, customers, VCs, partners, etc. NDAs or Other Protection So you decide you want to be able to share with experts, users, customers, VCs, partners, etc. Some resources on this: Intellectual Property is More Than Patents Does My Startup Have Intellectual Property?

Startup 198

Startup IP Ideas Patents 198

Startup Professionals Musings

FEBRUARY 13, 2021

Major innovation, with major payback, requires real change, addresses a major pain point, and hits a large customer segment who can pay. I do recommend non-disclosures and patents, but more can be gained than lost by talking to outside experts. For example, smart entrepreneurs look for recognizable patterns in disconnected domains.

Startup 162

Startup Metrics Ideas Entrepreneur 162

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

Startup Professionals Musings

AUGUST 2, 2015

How an entrepreneur answers this question speaks volumes about their knowledge of business realities, customers, confidence, and their ability to handle investor funding. The problem is that startups have limited resources to keep them ahead of big companies. Money from customers and investors is the same color.

Startup 118

Startup Competition Patents Resource 118

Startup Professionals Musings

MAY 17, 2020

Offer free solutions to bring in more customers. Don’t get caught in the myth that you shouldn’t worry about monetization until after you have a large customer base. Social causes are great, but your ability to sustain your value contribution is directly linked to your ability to find paying customers.

Startup 174

Startup Writing Entrepreneur Ideas 174

Startup Professionals Musings

MAY 30, 2020

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Get help with grant funding and incubator resources.

Class 124

Class Startup Resource Mentor 124

Startup Professionals Musings

JULY 25, 2020

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Innovative technologies have no value until they are turned into solutions to real customer problems. From time to time, include customers and sales members in ideation sessions.

Coach 144

Coach Metrics Social Network Competition 144

Startup Professionals Musings

AUGUST 8, 2020

In addition, we all know that patent disclosure rules often facilitate legal reverse engineering, and innovation at this point is now much cheaper. Market research can thus be based on real customers and a previously tested market. Timing is critical, as well as focus on marketing and customer satisfaction. Martin Zwilling.

Startup 157

Startup Social Media Study Research 157

SoCal CTO

MARCH 4, 2010

see When to Use Facebook Connect – Twitter Oauth – Google Friend Connect for Authentication?

Technical Review 170

Technical Review Technical Advisors CTO Coach Startup 170

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. The problem is that startups have limited resources to keep them ahead of big companies. Money from customers and investors is the same color. Martin Zwilling.

Entrepreneur 110

Entrepreneur Competition Patents Resource 110

Berkonomics

MARCH 14, 2019

One way to mitigate this is by using early money to create a prototype, to perform market research, to complete the first generation of the product, or to deliver the service to a satisfied customer. Any new enterprise is at risk if there are not enough resources to get the company to breakeven, which is a proxy for stability.

Outsource Development 120

Outsource Development Ideas Resource Patents 120

Startup Professionals Musings

APRIL 21, 2023

It starts with a vision, but benefits quickly from a structured process of idea generation, evaluation, prototyping, customer feedback, and success metrics. Innovative technologies have no value until they are turned into solutions to real customer problems. From time to time, include customers and sales members in ideation sessions.

Coach 137

Coach Metrics Competition Ideas 137

Startup Professionals Musings

FEBRUARY 22, 2012

No known patents filed. Maybe the solution hasn’t yet been commercialized, but a patent has been submitted by someone else, putting your idea in jeopardy. Another series of searches on Google Patents and the US Patent Office site and Free Patents Online is in order at this point. Real customer pain and money.

Ideas 97

Ideas Patents Startup Google 97

Startup Professionals Musings

FEBRUARY 17, 2021

It wasn’t so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. The same is true for filing patents, registering trademarks, and filing copyrights. A programmer can build a new smartphone app for a few thousand dollars.

Entrepreneur 162

Entrepreneur Startup Social Media Outsource Development 162

Startup Professionals Musings

JANUARY 14, 2011

No known patents filed. Maybe the solution hasn’t yet been commercialized, but a patent has been submitted by someone else, putting your idea in jeopardy. Another series of searches on Google Patents and the US Patent Office site and Free Patents Online is in order at this point. Real customer pain and money.

Ideas 94

Ideas Patents Startup Google 94

Startup Professionals Musings

JUNE 2, 2021

I like the summary of the competitive reality in a new book, “ Rethinking Competitive Advantage: New Rules for the Digital Age ,” by Ram Charan, who relates a wealth of current experience from global clients: Customers expect a personalized experience. These have the vision and the resources to fund long-term digital success.

Competition 142

Competition Software Review Social Media Customer 142

Startup Professionals Musings

NOVEMBER 29, 2019

Obviously, where you need to be is somewhere in the middle, and certain that you are the right person with the right resources to win. The right answer to this question is that you bring some new intellectual property to the table – like a patent or other secret sauce. Do you have the resources to build a business?

Entrepreneur 126

Entrepreneur Ideas Resource Examples 126

Startup Professionals Musings

APRIL 10, 2021

It can come from experience, or from training in a prior company, and it can even be self-taught from the Internet by smart entrepreneurs, just like they learned the skill of establishing a company, negotiating a contract, or filing a patent. That’s a big step from one product for one customer. Organize your work before you begin.

Startup 171

Startup Organization Training Entrepreneur 171

Startup Professionals Musings

JUNE 14, 2011

Experienced business people realize that unless you are dealing with a commodity, or customers are extremely unhappy, they won’t switch to a new alternative unless the savings are well above 20%. Lock on the market or customer base. “Advantage” needs to be measurable and significant. Here are the key ones: Real intellectual property.

Competition 102

Competition Patents Startup Social Network 102

Startup Professionals Musings

SEPTEMBER 27, 2014

Don’t forget to consider customer alternatives, like trains versus airplanes. These days, you can find existing patents and trademarks through Google and the US Patent Office online site without spending thousands of dollars with your favorite patent attorney. Choose projects with financial resources within your reach.

Ideas 106

Ideas Entrepreneur Technical Review Patents 106

Startup Professionals Musings

JUNE 15, 2020

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. Patents and trade secrets are more powerful advantages than missing competitive features, which might be quickly filled in as you gain traction.

Competition 125

Competition Entrepreneur Patents Customer 125

Startup Professionals Musings

MAY 13, 2023

Don’t forget to consider customer alternatives, like trains versus airplanes. These days, you can find existing patents and trademarks through Google and the US Patent Office online site without spending thousands of dollars with your favorite patent attorney. Choose projects with financial resources within your reach.

Ideas 106

Ideas Technical Review Patents Startup 106

Startup Professionals Musings

JULY 27, 2022

For example, Elon Musk, who owns many battery patents , normally kept for a competitive edge, decided to open them all to any competitors in an effort to expand the market for his electric vehicles. Initiate a regular program of customer experiments. Always practice thinking outside the box.

Competition 139

Competition Examples Customer Custom 139

Startup Professionals Musings

JANUARY 8, 2023

Despite some recent advances, there are still some cultures which have less regard for patents and other intellectual property. Customer-facing services, like call centers, should rarely be outsourced. Internal services, like marketing and accounting, are more manageable and have less customer visibility.

Software Review 114

Software Review Technical Review Outsource Development Outsource 114

Startup Professionals Musings

FEBRUARY 27, 2023

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Get help with grant funding and incubator resources.

Entrepreneur 110

Entrepreneur Class Startup Resource 110

Startup Professionals Musings

NOVEMBER 4, 2019

There are lots of resources available for the challenge of that activity, including the Internet and mentors like me. In my experience, the key steps I look for always include the following: Testing the idea against customers who have money to spend. Prepare your marketing story for customers and investors.

Ideas 94

Ideas Slides Technical Review Patents 94

Startup Professionals Musings

AUGUST 14, 2012

Experienced business people realize that unless you are dealing with a commodity, or customers are extremely unhappy, they won’t switch to a new alternative unless the savings are well above 20%. Lock on the market or customer base. “Advantage” needs to be measurable and significant. Here are the key ones: Real intellectual property.

Competition 97

Competition Patents Startup Social Network 97