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Summary notes, as always, provide below. We talked about patents. I brought up the fact that I find many larger companies abusing the patent system to slow down smaller competitors which is actually anti competitive. To say he has had an impact on the web would be an understatement. It was a pleasure to write them myself.
Few investors these days have the time or patience to read a full business plan, so a better way to catch their eye is with a tightly written and well formatted two-page executive summary. I see too many executive summaries that are simply heavy-duty customer pitches, or lightweight visions of the future.
In case you hadn’t noticed, the key elements of a competitive advantage for your business have changed as businesses move online, and your domain is instantly global. As a business advisor, I have to recommend even to established companies that they review and revamp their competitive strategy now, even if it appears to be working today.
Know your market and competition, or don’t spend a dime on anything else. There was even talk of some phone companies using the patented system for serving communities of guests, not just from a single hotel. In this case, the competition was not from a company but a new technology. There is no competition.”
Most sophisticated investors ignore them, focusing their attention on an entrepreneur's pitch and presentation materials, financial forecast and executive summary. As such, the primary goal of your executive summary is to open the door to an in-person meeting. Entrepreneurs routinely seek my advice regarding their executive summaries.
Know your market and competition, or don’t spend a dime on anything else. I have stated previously that I love absolutes – statements with no wiggle room for gray-area responses. There was even talk of some phone companies using the patented system for serving communities of guests, not just from a single hotel.
To be clear, I define a product specification as the technical definition of your product, to be used for development and testing purposes, with a quick business summary for context. For example, “We just patented a new battery technology that will cut your smartphone charge time and cost in half.” and trademarks.
Know your market and competition, or don’t spend a dime on anything else. There was even talk of some phone companies using the patented system for serving communities of guests, not just from a single hotel. In this case, the competition was not from a company but from a new technology. There is no competition.”
The elevator pitch should be the first few paragraphs of your business plan, your executive summary, your investor presentation, and the first page of your web site. For example, “I just patented a new cell-phone technology that will double battery life for half the cost. Unlike [competition], we [differentiation].”
Will the solution give you an “unfair competitive advantage,” meaning no competitor already has it, or can replicate your solution without your skills or intellectual property. Don’t try to explain your technical implementation, your patent algorithm, or your unfair competitive advantage here. Do include some quantification.
Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. It does need to include a high-level summary of the components in the product plan, with key additional sections as follows: Definition of customer problem, followed by your solution.
You have done everything to register your brand legally , including domains, copyrights, patents, and trademarks. The specifics of these shortcomings are hard to nail down, but I was impressed with the good summary provided in a new book, “ Make It, Don’t Fake It ,” by Sabrina Horn. Evaluate the brand impact of proposed market moves.
For example, “I have patented a new tire that will double the wear mileage at half the cost.” Describe technology and features, not competitiveness. For investors, an executive summary of your plan is appropriate. The best hook for snagging an investor is a succinct definition of a real problem, followed by your unique solution.
Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. It does need to include a high-level summary of the components in the product plan, with key additional sections as follows: Definition of customer problem, followed by your solution.
For example, “I have patented a new LCD with double the intensity at half the cost, already proven locally, and I just need resources to scale for this market.” Your second sentence should acknowledge competition, but highlight your added value. Your second sentence should acknowledge competition, but highlight your added value.
The elevator pitch should be the first few paragraphs of your business plan, your executive summary, your investor presentation, and the first page of your web site. Who is your competition? Successful competition is a positive - they are proof your business model and/or concept work. What is your competitive advantage?
At any rate, here is my summary of the top ten from my experience with hundreds of elevator pitches, business plans, and executive presentations: “Our product is truly disruptive technology.” It always amazes me how an entrepreneur can define his market opportunity so broadly, then assess his competition so narrowly in the next breath.
Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. It does need to include a high-level summary of the components in the product plan, with key additional sections as follows: Definition of customer problem, followed by your solution.
File a patent and trademarks to show real intellectual property. Having a defensible competitive advantage or “barrier to entry” is another critical step to funding, and another common stumbling block during all phases of the funding process. Build an investor presentation and summary. Define some intellectual property.
File a patent and trademarks to show real intellectual property. Having a defensible competitive advantage or “barrier to entry” is another critical step to funding, and another common stumbling block during all phases of the funding process. Build an investor presentation and summary. Define some intellectual property.
At any rate, here is my summary of the top ten from my experience with hundreds of elevator pitches, business plans, and executive presentations: “ Our product is truly disruptive technology. ” It always amazes me how an entrepreneur can define his market opportunity so broadly, then assess his competition so narrowly in the next breath.
File a patent and trademarks to show real intellectual property. Having a defensible competitive advantage or “barrier to entry” is another critical step to funding, and another common stumbling block during all phases of the funding process. Build an investor presentation and summary. Define some intellectual property.
The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I They only want a quick overview of the product, not detailed features and patent secrets.
The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I They only want a quick overview of the product, not detailed features and patent secrets.
Will the solution give you an “unfair competitive advantage,” meaning no competitor already has it, or can replicate your solution without your skills or intellectual property. Don’t try to explain your technical implementation, your patent algorithm, or your unfair competitive advantage here. Do include some quantification.
The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I They only want a quick overview of the product, not detailed features and patent secrets.
The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I They only want a quick overview of the product, not detailed features and patent secrets.
If your solution and brand are really new and innovative, you need to protect them with a patent, trademark or trade secret. These are required to show that you have a defensible competitive advantage or at least a barrier to entry. Prepare an executive summary and investor presentation.
Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. It does need to include a high-level summary of the components in the product plan, with key additional sections as follows: Definition of customer problem, followed by your solution.
Will the solution give you an “unfair competitive advantage,” meaning no competitor already has it, or can replicate your solution without your skills or intellectual property. Don’t try to explain your technical implementation, your patent algorithm, or your unfair competitive advantage here. Do include some quantification.
The first page of the business plan better be an executive summary which gives the investor a taste of the financials, as well as opportunity, competition, and key executives. “I They only want a quick overview of the product, not detailed features and patent secrets.
. – Digital Messaging Infrastructure Company (incubated by Addante and Associates, LLC) Age: 25 - 29 (present) Time Period: 2002 - present My Role: Founder High Point: TBD Here is a summary of my experiences to-date with StrongMail: 1. Relaxing 2. Incubation 3. Go-to-Market 5. Spam Changes Everything 6. Venture Capital Funding 7.
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