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The Hidden Marketing Asset

September 2011 Corporate

A number of years ago, I was contacted by an attorney who was representing an inventor. It seemed that inventor had created a universal cap for an automotive water heater. This cap could work as a replacement for any water heater.Like most inventors, this one happened to be mentally long on technical expertise and mentally short on the realities of the marketplace. Also, like many investors he was working on a shoe-string.

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“Find the problem that other people have ignored.” Scott Cook, co-founder of Intuit Inc. August 18, 2001, WSJ.

  1. A good idea needs a good patent strategy. Protect your jewels.
  2. “Big organizations get committed to the way things were. It’s the small team led by an entrepreneur that can invent the way things will be.” Scott Cook
  3. Couponing can be profitable is like saying it can be destructive.
  4. The Entrepreneurs Funding sources: Friends, Family, and Fools.
  5. Intuit’s startup capital: Savings, retirement plan, parents, personal line of credit, and two smallish angel investors. The three Fs.
  6. Know thyself.
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