I recommend committing yourself to a standard vetting process. There's nothing like a night of sleep to set you straight. Try to disprove the thesis. If you can't stop thinking about it after 60 days, you may be onto something.
There is no harm in having several businesses BUT it is wisdom to focus your full energy on the best business out of your lot. Let that focused business give you all the income you need on ongoing basis. Then you need to develop systems so that business doesn't need your full time attention. And...
I've been working with information products and online masterclasses for close to a decade now. You basically have a few options: 1. Host it yourself. 2. Host it on YouTube. 3. Host it on a MOOC, Udemy or something similar. The big differences between the 3 are pricing, control and setup. Pric...
The answer: do both. The first thing you need to know about patents is that the U.S. now has a first-inventor-to-file system after the American Invents Act (AIA) went into effect in 2013. I have to disagree with Dan above: for hardware inventions especially, a patent is an important part of th...
You answered the question yourself. Preexistence of similar product is an indication of the demand. Given that your product have some additional feature, you should try to leverage the same and gain first mover advantage. Once you hit the tarmac you'll see other ideas evolving within yourself to ...
The standard procedure is to sign a mutual non-disclosure agreement with whoever you are disclosing your idea to, before you hire the firm. Once your product is built or is in the process, you have the option to patent or copyright it. Here's my article that gives the complete details on both:...
You should be so lucky that someone will steal your idea. The truth is that its all about execution and not ideas. Facebook wasn't the first social network, they just executed better. Same for Instagram, Yammer and Airbnb - all Billion dollar companies built in public.
Prove that it'll make money: 1. Call real people that would pay for it and talk to them about their needs. Do they describe what you're planning to do? 2. Build a simple email capture page (use something like LeadPages or OptimizePress to keep it cheap/easy) and write marketing copy to capture ...
Hello: That first toehold in the market can be the toughest to get. Especially when you’re working two sides of the street. Validating your idea is essential, but that means you’re in a listening phase more than a selling phase. Don’t simply write a blind email or two and wait for a response. You...
I have no experience with salons, but marketing is my thing. So I'll give you some suggestions of what to think about, followed by what to do. Do you have clients already (let's say from your working days at another salon)? If so, you can start profiling them. You can ask them to fill out a form...