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6 Cost-Cutting Recommendations For New Entrepreneurs

Startup Professionals Musings

The same is true for filing patents, registering trademarks, and filing copyrights. Social media facilitates marketing and sales. For startups, social media and color printers have essentially replaced the need for external public relations and marketing services. Work out of your home, and keep your own books.

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5 Risk Reduction Strategies For Your Next New Venture

Startup Professionals Musings

And we all know Facebook didn’t invent social media. Certainly I’m not recommending just one more Facebook, with a couple of features from Twitter, since social media has an unlimited potential for innovation. The advantage of imitation, with innovation, is that it gives you a solid base for building experience.

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6 Keys To Funding Based On Your Marketplace Advantage

Startup Professionals Musings

Startups simply don’t have the resources to keep ahead of large competitors who see initial traction and go after it. Here are some of the key ones: Patent protection in place as a barrier to entry. First to market, for example, is not normally a sustainable advantage for startups. A narrow scope doesn’t help your case either.

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10 Key Business Founder Checks Needed Before The Plan

Startup Professionals Musings

Assess your own resources as well as funding sources. In business, there will always be someone out there with more money, a better location, or more resources, ready to take your idea and squeeze you out. You need intellectual property , such as a patent, trade secret, or process expertise that will be a barrier that you can defend.

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5 Keys To Reducing Startup Risk By Building On Trends

Startup Professionals Musings

And we all know Facebook didn’t invent social media. Certainly I’m not recommending just one more Facebook, with a couple of features from Twitter, since social media has an unlimited potential for innovation. The advantage of imitation, with innovation, is that it gives you a solid base for building experience.

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5 Keys To A Viable Spending Rate And Cash Management

Startup Professionals Musings

Buffer your projected resource requirements. Use social media for early marketing. Social media is not rocket science. The best entrepreneurs manage cash flow ruthlessly and never delegate decisions about spending money. Cash flow out equates to burn rate, and the runway depends on your reserves.

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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. Be a visible and available expert in your domain. You are the ultimate critical success factor for your business.

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