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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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6 Lessons Most Entrepreneurs Only Learn On The Street

Startup Professionals Musings

You may think that patents and copyrights are not required, since your products are so innovative, but you will find that competitors are quick to copy your idea if you don’t protect it. Although Elon Musk doesn’t talk about it very much, he owns over 350 patents through Tesla, just one of his many companies.

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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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5 Keys To A Viable Spending Rate And Cash Management

Startup Professionals Musings

Use social media for early marketing. Social media is not rocket science. In this case, the primary cash outflow would be for product development and operating expenses, with potentially enough runway to build the initial product, get a patent, attract some early adopters, and build the initial revenue stream.

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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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6 Keys To Funding Based On Your Marketplace Advantage

Startup Professionals Musings

Here are some of the key ones: Patent protection in place as a barrier to entry. Investors understand that patents can be broken by unscrupulous competitors, but they prove your conviction that you have created something innovative, and are willing to do the work to defend it. Clear product differentiation and a singular focus.

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10 Key Business Founder Checks Needed Before The Plan

Startup Professionals Musings

You need intellectual property , such as a patent, trade secret, or process expertise that will be a barrier that you can defend. Assess your connections, both social media and financial.