Posts Tagged: "business plan"

A Lawyers Guide to the Business of Blogging

First, the biggest mistake lawyers make is that they primarily write for other lawyers.  That is a huge mistake.  There are only so many lawyers in any legal niche, and only a subset of them are going to be willing to read news or information on the Internet.  A smaller subset of those who use the Internet to acquire information will be willing to read blogs.  So if you are primarily writing for lawyers that means your audience is going to be kept small. Additionally, lawyers don’t typically turn into clients. So if you write like a lawyer for an attorney audience you are almost certainly missing the mark.

Patent Strategy: Laying the Foundation for Business Success

It is also critical for inventors and entrepreneurs to have a strategy to succeed, which seems simple enough, but is typically anything but simple for the creative types that are so good at inventing. The goal is not to create an invention that is cool, the goal is not to get a patent, the goal is almost universally to make money. The cool invention and patent are a means to the end, not the end in and of themselves. If you approach your patent activities appropriately you can lay the foundation of a business plan, at least insofar as the technology and technological advancement of your innovation is concerned. But like almost everything in life, there is a cost associated with succeeding. The cost is hard work to be sure, but there will also be significant financial requirements as well. While you may need to bootstrap your invention and business, as you move forward you will invariably need funding. From Angel investors to start, and maybe from Venture Capitalists eventually.

Patent Strategy: Laying the Foundation for Business Success

Patents provide a competitive advantage, and those sophisticated in business know enough to look for and exploit whatever competitive advantage exists. Patents are the 800 pound gorilla of competitive advantage, but realize if you are going to want and need significant sums of money from investors rarely does a single invention or patent command attention. No one wants to invest significant funds into a company that has a one-and-done approach to innovation. You need to understand the road is long. Take a lesson from Apple, Inc. Innovate and then churn your innovation for all its worth, re-purposing the technology, expanding into products and services, constantly push the envelope and milk the golden goose for all its worth!