NooB Monday! - September 13, 2021 Entrepreneur |
- NooB Monday! - September 13, 2021
- How Do You Make Images SEO-Friendly and Get More Traffic to Your Website?
- New businesses try to reinvent the wheel, while Pinduoduo just copied Groupon-like features to e-commerce and was valued at $60 billion, three years after launch - here are their strategies
- Hopeless at 39?
- Building a Multimillion Dollar Business: Part 3 - Increase your prices! $$$
- How to build proper backlinks to your website for SEO and drive traffic longterm
- Industries where smart robots are in demand
- Looking for a side-hustle as a student..
- Setting up a new business (UK). Is it worth registering a 2nd business to own all the assets the 1st business uses, and leases it to the 1st business?
- What sort of engineer should I search for?
- Next steps after receiving design
- Starting a research company?
- We're testing our product with a few users and seeing interesting results.
- Finding/Searching for quality sales people in the B2B digital space
- Managing a sales man
- Do you require a separate working space in your home?
- Weje PH launch - unlimited digital whiteboards
- Target your main Competitor's audience & customers directly (August Beta - paid)
- Has anyone else gone through a phase of low drive?
- How Effective Is Referral Marketing?
- Business/Legal Advice
- Capbase
- Mission Statement?
- Looking For Guests
- To share my idea or not share my idea, that is the question.
| NooB Monday! - September 13, 2021 Posted: 13 Sep 2021 02:00 AM PDT If you don't have enough comment karma to create your own new posts, you can post your new questions here. You can also answer/add comments to anyone else's posts in the subreddit. Everyone starts somewhere and to post in /r/Entrepreneur this is the best place. Subscribers please understand these are new posters and not familiar with our sub. Newcomers welcome! Be sure to vote on things that help you. Search the sub a bit before you post. The answers may already be here. Since this thread can fill up quickly, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| How Do You Make Images SEO-Friendly and Get More Traffic to Your Website? Posted: 13 Sep 2021 05:36 AM PDT So below I have outlined some tips and tricks that you can do to have better images for SEO. Please remember that if you follow all these steps and don't see a change in your rankings or website performance it could be due to other reasons. SEO rankings are determined by many factors beyond just images. Please keep that in mind. 1. Compress ImagesDo your website a favor and compress all your images. Google with thank you. This will reduce the file size, which means images will load faster leading to a faster website speed. According to the HTTP archive, unoptimized images make up about 75% of a website's total file size. Just as an example, before I optimized my own website, I had a Pagespeed Insights score of 38. Now before you laugh in my virtual face. I actually did something about it. I decided to compress all the images on the entire site and the score jumped to 92. Now that is not perfect but it's a lot better than 38. This just shows the power of compressing images on your website has. At this point, you might be wondering what it is that you can do to compress your images. There are many tools out there that all pretty much do the same thing. My favorite SEO image optimizer online is Optimizilla. The reason for this because you can choose how much you want to compress your images. Another image compressor is TinyPNG. The best thing to do is just to try a few of them and see which one you like the most. If you use WordPress, an image SEO plugin might be a good option for you too. Again there is a multitude of plugins that you can use. From personal experience the ones I find the best are either Smush or ShortPixel. 2. Geotag ImagesIf you are a location-based business you should consider geotagging your images. The easiest way to do this is to just go to geoimgr.com and upload your image. Then select your location on the map to the left. Once you have chosen your location, select "Write EXIF Tags". This geotags your images for better local SEO. What that means is that geographical positioning data such as longitude and latitude is added to your image. Your website visitors won't see this information but search engines do when crawling your page. There are several benefits to this:
So spend those extra minutes to geotag your images because your competition is most likely not doing it. Therefore, you will have an advantage over them and you'll have more SEO-friendly images. 3. File Name of ImagesName your images' file name with keywords in it. This is probably another step that your competition is skipping. Why? Mainly because it's tedious and if you have a media library with hundreds of images, it will take a lot of time to do this. If you have hundreds of images on your website and haven't named your images, I strongly recommend you put in the work and do it because it will pay off. The filename tells Google and other search engines what the image is about. So SEO image naming convention is to include a descriptive text that explains what the image is about. You don't need to include complete sentences but instead, focus on the main words that explain the image. Each word you be separated with a dash and not a space or underscore. The reason for this is because Google only recognizes dashes. Normally, images have a filename with something like IMG_1234.jpg. Instead, if your target keyword is elephant then your image name should be group-of-elephants-in-africa.jpg for example. If it is an image of elephants in Africa of course. Now search engines know this image is about elephants in Africa and can therefore categorize and rank your image accordingly. 4. Alt TextThe alt text is another important part of creating SEO-friendly images. It is essentially the text alternative to images when the browser can't display them. For example, visually impaired people use screen readers to understand a page. The alt text helps those people understand what's in the image. However, the alt text is also used when the image cannot be displayed to normal users for some reason. Then the image is replaced with the alt text. Google uses the alt text as a ranking factor for SEO so it is important that you have good and well-optimized alt tags. Some things to consider when writing the alt text:
Let's say you have an image with the code <img src="elephant.jpg" alt="elephant">. While this is fine as an alt text, a more appropriate way to write this would be: <img src="elephant.jpg" alt="many elephants walking towards the sunset in Africa">. The reason the second alt text is better is because it's more descriptive and describes the image in more detail. 5. Image Title With the Keyword On WordPressThe image title is another small step in the process of optimizing your images. Again this is probably not something your competitors are doing. So, for example in WordPress, in the media area, you have the title, alt text, and captions. Focus on putting the exact match keyword you want to rank for in the image title. However, expand the title by adding refinements from Google image search. The refinements can be found in boxes at the top in image searches, just below the search bar. These boxes help you make your search more precise and cut down the noise. For example, if your target keyword is SEO then do an image search on Google with SEO. Refine the search with the boxes and then add those words to the title of your image. Now the title might be "Get more sales for your business with SEO" instead of just SEO where "business" is the refinement keyword. This will give you better rankings for images but also for main keywords. 6. Image SitemapImage sitemaps are the fastest way to tell search engines of new content on your website. This leads to a higher chance of Google crawling and indexing your images. Thus, more site traffic. Google explains it this way: Add images to an existing sitemap, or create a separate sitemap just for your images. Adding images to a sitemap helps Google discover images that we might not otherwise find (such as images your site reaches with JavaScript code). A solution to this, if you're using WordPress, would be a plugin. Pretty much any SEO plugin will do but personally, I use Yoast. I feel like that plugin gets the job done. 7. Optimize Images for MobileMake sure you have SEO-friendly images on mobile and that they look good! Mobile SEO is extremely important, especially now that more searches are made on mobile than desktops. Good mobile SEO can increase conversions and rankings. Doing it badly though can give you the opposite with a high bounce rate. The good thing is that if you're using the WordPress version 4.4 or later you don't really need to worry about it. However, you should always see how your website and images look like on mobile. Also, make sure you check it on several devices. If you're not using WordPress things can be a little bit more complicated. You need to use the srcset attribute to make sure your images scale with the size of your website whether you're using mobile or desktop. Mozilla has a guide on how to use the srcset attribute for your images. 8. CaptionsThe caption of an image is the text that is usually below an image. For example, the image above has a caption. Today most people don't read an entire blog post but instead skim through it. When they skim they usually read the headings, the images, and cations. An interesting fact is that people are 300% more likely to read a caption than the body text. That means that you're missing out on a massive opportunity to engage your readers if you're not using captions. That does not mean you need to have a caption on every image to have SEO-friendly images. Use them where they are appropriate depending on what purpose the image has. Don't add captions for the sake of SEO purposes. If you decide to have captions for some of your images include your target keyword or its synonyms. 9. Format of SEO Friendly ImagesIn terms of format, there is no such thing as correct or best format. It all depends on the image and how you intend to use it on your website. Below are some format types for images and which one is best for which use:
Have a look to see what browsers and devices the majority of your audience uses and then see if your preferred format is supported by those browsers. That's itTo have SEO-friendly images on your web pages is not just one thing you need to do. It's the sum of several different steps you need to take. That is what will make a big difference for your Google image SEO. Google is getting better at understanding images every day. Therefore it is wise to ensure your images are optimized and provide the best user experience possible. The reason I kept mentioning that there are certain things your competitors are most likely not doing is that these small things are tedious and don't add much to SEO by themselves. But when combined with all the other small steps they will make a big difference in your efforts to reach the first spot. [link] [comments]  |
| Posted: 13 Sep 2021 09:53 AM PDT tl;dr Pinduoduo – a Chinese e-commerce app, by introducing Groupon-like tools to e-commerce blew up with popularity and was valued at $60B 3 years after launch <quick note: You can find my other posts similar to this one here, here, and here. I do also have a free newsletter with similar content here> 🥊Strategy & ToolsHighlights
Target group There, a large portion of the internet infrastructure is held on WeChat which serves for finding information, social networking, and any other daily thing. The target group is relatively new to the internet. Business model The C2B approach on the other side allows shortening layers of distributors. Customers are connected directly with manufacturers, so they can get products cheaper while manufacturers still get higher profit margins. Pivoting Group deals Social integration That also works because the items are promoted by users to their friends and groups, which also represent similar income levels and consumption preferences. Making online shopping an experience Lotteries Coupons Bargains Products for shares For 1 friend, you get a box of candy. For 9 friends, 1.3 kg of nuts. That's also some incentive. Newsfeed UX Network effect Problems 🧠Psychology Social proof FOMO Goal Gradient Effect Bandwagon effect Reward bias Bargain mentality -------------------------------- Building products for people with higher spending power is often the first choice of founders – you can charge more, you can offer higher quality and get fewer complaints, and you can acquire fewer customers to achieve satisfying revenue. However, that leaves the larger portion of most markets underserved, and the real opportunity might be just waiting there. The other finding is rather obvious at this point – designing a product to go viral from the ground up can work wonders. Groupon did it first, and Pinduoduo has just followed its path. That's it! Hope you like it [link] [comments]  |
| Posted: 12 Sep 2021 06:02 PM PDT I'm 40 in 4 months. I suffer from anxiety, depression, suicidal ideation and PTSD (abusive now ex girlfriend for 5 years, was actually diagnosed by doctor so I'm not going around using the term lightly), I'm at times obsessed with death (known as "death anxiety"). I read about it. I go to that dark part of the web sometimes. I'm a recovering addict now sober for 13 months. Im on welfare. I feel hopeless because I have nothing to show for anything. I dont even have furniture. I sleep on the floor (very thankful I have a studio apt though). I'm an artist with an art business (honestly, I make very awesome paintings) but its failing because you can't live off art. So because of my severe anxiety, id like to work from home so I looked into Amazon FBA but everywhere I turn there are "entrepreneurs" trying to sell me ads and courses without actually teaching anything. I have a little $$ saved and I'm afraid to throw it into FBA because its all I have. I own nothing else. So basically if this fails, I'm out on the streets. If you've looked into Amazon FBA, you know how intimidating it is. And for someone who has anxiety problems, I'm sure you see how difficult it is to start. Sometimes I think its just better to end it all. There are no genuine people helping anymore. Everyone's out to either compete with you or sell you something. So either way you're being robbed. Thoughts? Thank you and bless. [link] [comments]  |
| Building a Multimillion Dollar Business: Part 3 - Increase your prices! $$$ Posted: 13 Sep 2021 10:52 AM PDT Hello again r/entrepreneur! Monday is here and so is part 3 of this 16+ part series! Thanks again for the feedback and support on the posts in the previous 2 weeks. Below are the links if you haven't checked them out! Part 1 - Getting started (the right way) Part 2 - Your first few customers Today's post is going to be a fun topic. PRICING! Last week I did a better job at sharing examples that we have done as a company and the feedback was great. I'll try doing that again today! As you go to market, it's crucial to have some sort of pricing model established. It might not be perfect at first, so don't be afraid to change pricing models as your business evolves. We have tested a few things for our business and we are still evolving some of our pricing to this day. It's not an easy thing to get right. ------------------------ Before we talk about pricing, think about the best models for pricing your product/service. Here are a few to consider.
Maybe your product/service can be a combination of these. ------------------------ When putting a number to what your pricing should be, don't be afraid to start high with your pricing. Think about the worst thing a customer can say after you go through a demo and they like your product. "Wow, that's more expensive than I expected." Here are a few things you could say
------------------------ Let's talk about pricing against competitors. Too many new and young entrepreneurs think they can undercut their competition on price and people will switch to them. Maybe this works for eCommerce when you're selling plain white socks, but when you're selling complex products that have vast differences from your competition, don't undercut yourself. Here's the reality, people buy more on the value they are getting rather than the price. If your competitor charges $300/mo and you tell a company that you can do the same exact thing for $200/mo, there's a good chance they won't want to go through the pain of switching to save $100/mo. Their time is way more valuable than that. Rather than that, tell them you are $500/mo because you also have integrations, include XYZ features that are more valuable. We use the language of "Let us prove ourselves by covering your first month out of our pocket." That language is MUCH better than offering a "free trial". ------------------------ Your pricing has to work with your numbers. AND YOU NEED TO KNOW YOUR NUMBERS. That's probably a topic for another post. For example, in SaaS, we closely track our gross profit margins. SaaS companies should have about 75-80% gross profit margins. Maybe you can even beat that. It's possible. Trust me. ;) I may be going down a rabbit hole here, but gross profit margin is calculated by your revenue minus cost of goods sold (COGS). COGS are direct costs with production of the product, costs to keep your product running (servers), and a few other things. You want to have good gross profit margins because: You have to pay people to go sell your product. You have to pay your onboarding team to get clients onboarded. You have to pay a customer success team to keep customers happy. You may have to pay for other subscriptions to help with your company's operating procedures. You need to pay for professional services like your CPA and attorney. At the end of the day, you may be losing money even if you have incredibly high gross profit margins. Sometimes you lose money on purpose if you're in growth mode or it's the end of the year and you're offsetting profits for tax purposes. ------------------------ Lastly, this was posted by u/biz_booster a month ago in this subreddit and also the r/marketing subreddit. I had to share this and give credit. These are the ONLY 4 ways to make money.
Another way to think about it is:
One more way to think about this from Product perspective is
------------------------ Anyway, I feel like I'm rambling a little bit at this point. Just please please please think about your pricing and how it affects your business. You don't want to be the cheapest on the market and you need to create a great story to show the value that you bring. Hope this helps! [link] [comments]  |
| How to build proper backlinks to your website for SEO and drive traffic longterm Posted: 13 Sep 2021 07:44 AM PDT Here are some tips and tricks to remember when building links to your business, or indeed regarding what to look for when finding someone to do them for you. There's a lot of myth out there concerning the building of backlinks but they're still a vital part of SEO and a great way to drive traffic to your website overtime. Hope this is of some use to the community. I know others have found it useful when considering their own backlink profile and I thought those in this sub might like it too. Any questions, please comment and i'll do my best to help out.
Thanks for reading and I hope you at r/Entrepreneur found them useful. [link] [comments]  |
| Industries where smart robots are in demand Posted: 13 Sep 2021 05:17 AM PDT Hello, I want to start a company that builds small wireless robot (cars, drones, etc) which can be controlled from anywhere in the world, or also function autonomously. I have a decent amount of programming experience, and am working on improving my current robot car design. My original plan was to build a robot food delivery network for my college, but I would like to do more. Where do you think these robots are in demand? I probably won't be able to get certifications and things like that without significant capital, so I would most likely be working with small companies. [link] [comments]  |
| Looking for a side-hustle as a student.. Posted: 13 Sep 2021 12:43 AM PDT I am 19 and I am looking for a side job to help myself with my tuition. I do not want to be dependent on my parents and be a responsibility for them. I can invest around 6+ hours a day, 7 days a week. Please help me out! [link] [comments]  |
| Posted: 13 Sep 2021 03:22 AM PDT Sorry if this doesn't immediately make sense, but hopefully I can explain: I'm looking at setting up a business very shortly (just finalising the POC and the costings model). Normally the next step would be to set up a business, and the business owns all the assets it needs to run. However, would it be better to set up two business, where business A is the main trading business and business B owns all the assets and rents them to business A for a peppercorn? My belief is that it gives better protection to business A as nobody can claim those assets if things get tricky. This stems from a former employer who ran a large business, but all the assets (desks, computers etc) were owned by a "project management company" that he also owned. I didn't ask to confirm, but from what I could work out, it offered the aforementioned protection and also provided him with some financial advantage that I couldn't quite figure out. Is this an advantageous move? Is the exercise worth the effort? Or is there another reason that a business might have this arrangement that I'm missing? [link] [comments]  |
| What sort of engineer should I search for? Posted: 13 Sep 2021 05:12 AM PDT I have a design for a small mechanical item that I would like to get a prototype made of and need the assistance of an engineer. I have drawings galore and have attempted to prototype with TinkerCAD which is the extent of my pathetic 3d design ability. This part I imagine would be CNC aluminum for the prototype and then cast for production if that helps someone with pointing me in the right direction. I am most concerned with not violating my intellectual property rights (won't be going to China at any point) and fair price. [link] [comments]  |
| Next steps after receiving design Posted: 13 Sep 2021 09:37 AM PDT Hello, I've had an idea for a while and finally took the next step and hired an product designer and got a design that I like. I'm just not sure on what to do for the next step as I would like to develop a prototype and find manufacturers and am afraid that it will either be stolen and what not. What are steps I can take before approaching manufacturers overseas to develop prototype? [link] [comments]  |
| Posted: 13 Sep 2021 12:44 PM PDT My aim is to start a research company / political risk consultancy. I studied my Bachelors & Masters' in Middle Eastern politics and I have acquired great contacts and knowledge through this. I have also traveled the region. I'm based in the UK right now and I would like to utilise my knowledge and contacts to be able to sell research to potential clients. E.g financial institutions considering investing in the region. How could I possibly do this? If I approach companies now people would just laugh at me as they would not consider working with a non-established research company. Has anyone started their own research company? Or do they know someone who has? Thanks! [link] [comments]  |
| We're testing our product with a few users and seeing interesting results. Posted: 13 Sep 2021 12:41 PM PDT Our initial test users are using our app about 50 times a day. They're having about 20 sessions on mobile and 30 sessions on desktop. I feel like this is a very strong number right? They're doing this daily and have been providing a ton of feature requests. We've been looking for signals that our product is useful and I feel like this is one of them. Has anyone else experienced this kind of usage of a consumer product early on? Am I reading too far into this number or is it actually exceptional? [link] [comments]  |
| Finding/Searching for quality sales people in the B2B digital space Posted: 13 Sep 2021 12:22 PM PDT Need help in best way the search/find/hunt for a quality sales person. Does anybody here have any tips for the best way to find people except basic job advert sites and linkedin [link] [comments]  |
| Posted: 13 Sep 2021 12:13 PM PDT Hi, I'm looking for a book that will give me some information on how to manage my first sales employee. Right now we're designing our sales funnel and our Omni channel marketing strategy. I am less interested in the sales process and more interested in how to manage my new sales man and set expectations. [link] [comments]  |
| Do you require a separate working space in your home? Posted: 13 Sep 2021 08:26 AM PDT Hello guys, As an entrepreneur, when looking for a new home, do you require to have a designated room (a second bedroom essentially just being used as an office) to cater to your business activities? or are you fine with enmeshment of your living and work space? [link] [comments]  |
| Weje PH launch - unlimited digital whiteboards Posted: 13 Sep 2021 12:09 PM PDT Do you use such whiteboards? I regret that follow startups rarely here meow.ph/weje [link] [comments]  |
| Target your main Competitor's audience & customers directly (August Beta - paid) Posted: 13 Sep 2021 05:42 AM PDT Hey everyone! For the past few months, me and my team have been working on an AdTech tool that enables you to target your competitor's audience & customers directly (you might have came across our posts - we're building in public!). We've came up with very creative ways to do it, and now working on releasing it to the public as a SaaS tool. We've been running Beta cohorts for the past two months with a total of 93 people/companies/agencies, gathered lots ot case studies and amazing results, feeling very grateful. Around 60% of our Beta participants have already signed up for their annual packages, which is amazing! Basically, the tool, Tuwio, is about targeting your competitor's customers directly. We're using a bunch of publicly available data and two secret sauce ingredients we've developed with the team. Works no matter what sector you're targeting, or location, or anything else. All you need to have is a competitor, or multiple competitors that have a web presence - a website & social media channels are enough. Doesn't matter what your business is about: We've worked with DTC eCom companies, dropshippers, crypto companies, university recruiting teams, cloud hosting companies.. Again, only thing you need is a competitor - or more than one! Simply put, Tuwio means lower ad costs, better targeting and higher conversions. Conversion campaigns with 10-12% are not uncommon, CAC dropping down to 1/8 of what it used to be also.. With good creatives, good product & good experience on top of this, you can build a rocketship. Only problem is, we are not sure how scalable the tool would be for the users: We haven't been experimenting with it for 2-3 years after all, just 5-6 months until now. Good thing is, unless you're spending $200-300K/mo, everything should be fine. The reason I'm telling you all about it is, we're looking for the last Beta test (August batch) members. We've completed our June and July batches, and this will be the last one before the public launch. You will be paying a certain amount, since there are big infrastructure and engineering costs for this, but it will be discounted since there might be bugs and other issues - you're an early adapter after all, highly appreciated! So please let me know if you're interested and we can talk. You can sign up directly here, or read about Tuwio more here. If you have any questions, let me know! Thanks! [link] [comments]  |
| Has anyone else gone through a phase of low drive? Posted: 13 Sep 2021 11:39 AM PDT I'm currently a young business owner turning 20 soon. Now I thoroughly enjoy what I do and quite frankly wouldn't do anything else. However this year I've had less drive and motivation to do this. It's also affected my mental health a lot and it's an ongoing struggle. I make sure to get the recommended amount of sleep daily but always crash in the day becoming extremely tired. I'm a very disciplined person and I know it's discipline over motivation so I don't think this is an issue related to my discipline, however things have been different for me with the added pressure of uni and aiming to support my family while also job seeking. It's recently really been getting to me. I just came here for answers and advice on what I should do. Should I talk to my mum or seek therapy? Is this normal and part of the journey? Can someone explain what exactly is happening? Everything will be much appreciated [link] [comments]  |
| How Effective Is Referral Marketing? Posted: 13 Sep 2021 07:25 AM PDT Hey everyone, sorry for all the questions but I want to make sure I explore all possible options when it comes to my business and what better way than to pick the minds of other Reddit users. Now I've been in the SEO industry for over 2 years and over the last year I've started to really build out my client base and generate some solid results for the local businesses I've worked with. As this was happening I updated Reddit on my successes and many individuals told me that since I've been able to create results and satisfied clients I should use get them to submit a referral. I also thought this was a great idea; however, how often do people actually look at these or take them as real responses? That may sound like a dumb question but I know when I go to websites and see "Best (Insert service here)" from John doe I never take it as a real referral and something the company just put there. Could just be my inner pessimist but I would love to hear your opinions or strategies on how to leverage positive customer referrals. [link] [comments]  |
| Posted: 13 Sep 2021 11:06 AM PDT Hello all, I am working on launching a website who's core function involves placing bets. I was hoping someone could point me in the right direction in regards to legality and who I should seek out for information on this idea. I'd like to make sure I'm not breaking any laws or anything. All current research shows that depending on the state you live in, some betting (like sports betting websites) is fine. Thank you! [link] [comments]  |
| Posted: 13 Sep 2021 10:49 AM PDT Has anyone used their service? Any good and does it worth $999? TIA [link] [comments]  |
| Posted: 13 Sep 2021 06:58 AM PDT I don't know why but I am having the hardest time putting words together to create a mission statement. It is insanely frustrating. I've read all kinds of examples but none of them are even close to resonating with me and since they are generally from different industries, my brain immediate tends to ignore them because their focus does not seem to be mine. I seem to be ok with going through the other aspects of writing a business plan but this one part just will not click for me. It seems so ludicrous that I can't get this part but nearly every other part I can work with. I'm reaching out to the community for some guidance and sanity in the process for creating a Mission Statement, so any wisdom you can impart, I'd be forever grateful. Update: Shortly after I wrote this, I got an idea(funny that huh?), I took the literal definition of my business (Rapid Prototyping) and tweaked it with some terms and came out with something that seems to be pretty decent. "Our mission is to enable businesses to move forward in time by producing high-fidelity prototypes that are already in the planning phase of their product development lifecycle utilizing the latest in 3D Printing technology." Any constructive feedback would be appreciated. [link] [comments]  |
| Posted: 13 Sep 2021 10:21 AM PDT Hi all, I run a podcast called "The Kickstart Garage" which provides an informal conversational podcast with rising entrepreneurs, investors, digital marketers and other like-minded business individuals. I thought I'd reach out to this community for suggestions for guests? [link] [comments]  |
| To share my idea or not share my idea, that is the question. Posted: 13 Sep 2021 10:07 AM PDT Hello friends, A few months ago I thought up a unique idea for a product invention that I believe solves a problem that many people experience. I've since built a rough prototype that works well, further increasing my confidence in the idea. I'm in talks with product designers/engineers, as well as an IP attorney to try to figure out how large of an investment it would take to bring my idea to market, everyone that I speak with is asked to sign an NDA/non-compete. Before getting any more financially involved in this idea, I'd be interested in gaining an understanding of how many people would consider purchasing the product and at which price point. I am strongly considering conducting a product concept validation survey, which any business development professional I spoke with thinks is a great idea. The attorney that I am working with does not agree, he thinks that the idea should be kept a secret until I am in a position to bring the product to market first (should anyone try to steal the idea if I start conducting surveys and telling people about the product concept). Nothing about the product is patentable, so filing a patent is not in the cards right now. What do you all think? Has anyone that is reading this had a similar experience, if you, how did you handle it? [link] [comments]  |
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