If youāre feeling overwhelmed or stuck this might be the most important thing you watch/read today.
Bringing a product to market is one of the most excitingāand challengingāthings an entrepreneur can do. In short: launching a product is hard.
The journey from concept to consumer is full of landmines. If you're trying to navigate it solo we commend your effort, but it's a recipe for burnoutāor worse, failure.
Thatās why the smartest founders donāt try to do everything themselves. They team up with a strategic partner that walks beside you, transforming the complex journey of bringing a product to market into a manageable process.
Below we break down the immense value of having a strategic partner in your corner and why it could be the smartest move you ever make.
Most people waste time and money on mistakes that could have been avoided.
Without expert guidance, you are walking with a blindfold through a minefield. One wrong stepāwhether itās a bad manuf...
Most people fear debt. They see it as something to avoid at all costsāa financial burden that keeps them stuck, drowning in monthly payments.
But hereās the reality: Wealthy people love debt. Not because they enjoy owing money, but because they know how to use it strategically to grow their wealth.
The wealthy donāt see debt as a trapāthey see it as a tool.
While the average person takes on debt for liabilities (like cars, clothes, and vacations), the wealthy use debt to grow their business fasterāinvesting in assets that increase revenue and scale operations.
If youāve been taught that ādebt is bad,ā itās time to shift your mindset and learn how to leverage debt the way the wealthy do.
Not all debt is created equal. Thereās a huge difference between negative debt and positive debt.
We are thrilled to share a special interview featuring Kevin Harrington, an original shark from Shark Tank, alongside our CEO, Michael Corradini.
Dive into the fascinating story of how ProductMentor was founded, our commitment to empowering inventors and entrepreneurs, and get a sneak peek into the insights from the international bestselling book, "The Comeback Code", that Kevin and Mike co-authored.
Bringing a new product to life is an exciting journey, but when it comes to building a prototype, many inventors unknowingly make mistakes that slow downāor even sabotageātheir launch.
A prototype is meant to be a stepping stone, not a roadblock. Unfortunately, too many entrepreneurs get caught up in perfection, unnecessary complexity, or poor planning, and their idea never makes it past the prototype phase.
If you're developing a product, here are the three biggest prototype mistakes you need to avoidāand what to do instead.
A prototype might look great on paper (or in a 3D print), but if you donāt consider how it will actually be manufactured, you could be setting yourself up for failure.
Many inventors focus on functionality and design without thinking about how the product will be mass-produced. They use materials that arenāt scalable, overlook production costs, or create a design thatās too complex for efficie...
Are you one of the many inventors who think licensing is the golden ticket to success? If so, itās time to reconsider your approach.
The allure of handing over your idea, letting a company do all the heavy lifting, and sitting back to collect royalty checks is undeniably appealing. But the reality is often quite different, and hereās why: licensing rarely works if your product hasnāt made any sales.
Lets understand why most people get licensing backwards, and more importantly, how you can flip the script to make it work for you with an approach we call Reverse Licensing.
Licensing sounds like the perfect shortcut:
What could be easier?
But hereās the harsh reality: Licensing rarely works if your product doesnāt already have sales or committed orders. Companies are unwilling to take a gamble on an unproven idea. Why? Because, without sales, ...
When it comes to bringing innovations to life, securing a patent can be a pivotal step. However, the road to patenting can be fraught with pitfalls that not only drain resources but can also derail your projectās success.
Hereās a closer look at three common patent mistakes that inventors make and how you can avoid them to protect your inventions more effectively.
One of the most critical aspects of your patent application is the scope of your claims. These claims define the boundaries of your inventionās protection and are the elements that others are prohibited from copying. A common mistake is drafting these claims too narrowly, focusing only on a specific configuration or a particular use of the product. While this might seem to strengthen the patent, it actually does the opposite.
Think of your patent claims as a safety net; the broader the net, the more difficult it is for competitors to work around it. If the claims are too narrow, it becomes easy f...
Are you ready to dive into the surefire ways to fail at inventing?
If youāre looking to ensure your next invention is a spectacular flop, youāve come to the right place. Here's how you can master the art of what not to do.
First things first: why bother with real-world problems? To truly botch your product development, start by inventing something for an small problem. Forget about market demand; itās overrated anyway. This approach guarantees that your product will resonate with absolutely no one but you, securing its place in the hall of fame for unnecessary inventions.
Research is such a drag. Who has time to check the size of the market or scope out potential competitors? Assume your product is a stroke of genius. Begin by counting the profits youāll never make. Ignoring your market ensures that youāll be blindsided by actual consumer needs and existing solutions, paving a smooth road to ...
Navigating the early stages of a startup can be as thrilling as it is daunting. Every decision you make can significantly impact your venture's future. To guide you through these critical decisions, we've compiled answers to the three most common questions that startup founders frequently ask.
These insights are designed to save you time, money, and avoid unnecessary headaches.
Many entrepreneurs believe that patenting an idea is the first step towards a successful business venture. However, securing a patent is not always necessary in the initial stages. Instead, focus on validating your business idea and achieving product-market fit first.
Start with a Non-Disclosure Agreement (NDA) to protect your idea when discussing it with potential partners, investors, or employees. This step is crucial and often sufficient in the early stages to safeguard your concept without the hefty costs and complexit...
Weāve all been thereāsitting on a great idea, waiting for the perfect moment to take action. But while you wait, the hidden cost of inaction grows. Every day you delay, someone else could be moving on a similar idea, seizing an opportunity that could have been yours.
Your brilliant idea has the potential to change your life, whether itās launching a product or growing your startup. But without action, even the most promising idea stays just thatāan idea. Each day that passes without action is a lost chance to get closer to your goals.
Opportunity doesnāt stand still. Markets shift, trends evolve, and the window to bring your idea to life narrows. When you fail to act, others who are more decisive fill that space.
A common reason people delay taking action is waiting for the perfect time. You might think, āIāll start when I have more resources,ā or āIāll act once ...
In the entrepreneurial world, risk is not just a necessary evil; it's an essential ingredient of success.
Many perceive taking risks in business as hazardous. Reframing these risks as calculated steps towards growth can transform fear into a catalyst for change. The ability to embrace and navigate uncertainty often distinguishes the most successful entrepreneurs from the crowd.
Here are three strategic ways to confidently embrace startup risk and turn it into a conduit for innovation and success.
The most transformative way to approach risk is to completely redefine it: the biggest risk is inaction. While the idea of stepping into the unknown can be intimidating, the alternativeāstagnationāis a guarantee of missed opportunities.
By viewing risk as an essential step to acquire your desired reward, you alter both your emotional and psychological responses to new ventures. This shift helps you look beyond immediate threats and focus on the long-term advantages of...
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