Once you've come up with a great idea for a product or service, it's important to find ways to protect your invention. Not only do you want to make sure people know that it was you who invented the product, but you also want to prevent anyone else from copying your idea and profiting off of your ingenuity, cutting you out of the fruits of your labor.
While there are only four primary strategies for growing a business, there are literally dozens of different techniques you can use to implement these four strategies.
There are entrepreneurs, and there are successful entrepreneurs. If you want to be in the second group, there are certain habits and practices you'll want to begin incorporating right now.
In business and startups, a "sense of urgency" is a good thing. Yet many entrepreneurs confuse this with a "sense of emergency," which insidiously saps the life from their business.
One of the most important things any business needs to do in order to survive in the long term is reinvent itself. Every day, you have to be open and willing to change, never letting yourself get locked into a single way of doing things.
Crowdsourcing is to operational problem solving what cloud computing is to computational resources and memory. With one difference: crowdsourcing is in the real world, while "the cloud" is in the virtual.
The ultimate compliment that any entrepreneur can get is that they can "see around corners." This is a statement that they are willing and able (and successful) at projecting market and technology turns, not just straight-line innovations. They have the courage to make bold decisions, often contrary to conventional market research.
When I discuss branding with companies, one key element in our discussions are the company brand values. It is commonly understood and agreed that without them the company would cease to exist. They are the foundation of the company.
In business, you have to constantly try new things, because most of the things you try won't work. It doesn't mean they weren't worth the attempt; it just means that the small business world is impossible to predict. Because none of us know beforehand what will work, we have to try many things that fail in order to reach success.
When someone pays a ridiculous amount of money for something you sell, they want to be reassured that they made a good call. They want to be your fan. Let me say that again—they want to be your fan. But you have to extend the invitation and make the effort.