Questions

Who should I consult with to scrutinize my unique web and mobile business (model) method?

I am about to provisionally patent, then pay to develop a unique communication web and mobile app business method applicable to a global market. Before I do so, I want to consult with a highly successful experienced business professional to scrutinize my business method and process and objectives.

4answers

I think you are asking the wrong question. I recommend that you first figure out if this "method" has value to at least one market that is big enough to support your financial goals. One person's opinion, no matter how experienced they are, can substitute for talking directly to the "customer" and enough of them to make sure you are headed down the right path before you spend your precious time and resources. I have done this, directly and indirectly, dozens of times and not spending the time upfront to make sure your idea is solving a problem worth solving and for enough people is arguably the biggest reason why most startups fail.


Answered a year ago

This is a very good question. Because while perhaps one would advise you to look deeply into the technology and the potential success of it, or the legal aspects, or the competition, I think the critical success factors of your new business method are different.

I believe that first of all, you've got to scrutinize your business plan with regards to its customer centricity and the value and purpose that it brings to its users. Even without having seen your business objectives I believe we can make improvements there, making your proposition more compelling, more relevant to its users and stakeholders (investors!) and motivating more people around the world to start using it.

Secondly, but probably even more important, you as the entrepreneur must have the right attitude, and if your character is not deeply ingrained with qualities such as vision (on how to make money right from the first dollar), speed (because being fast allows you to do what you've got to do) social skills (so can can work yourself into any (corporate organization) and self-discipline and a positive work ethic (so you get effective in everything you do) ... Then even the most promising business proposal starting up in the most prosperous economy will fail.

Talking about fail, when Lance Surety Bonds assessed over 150 startups to understand better why they fail, they found that in over 40% of the cases there was simply no market need (or perceived market need) for the startup's offering. You see this relates directly to the first paragraph of my answer!
Other factors that made it to the top ten are "poor team", "poor marketing" and "not listening to customers". Do you see that all of this is controllable!!

So, in brief, why don't you schedule a call with me and we explore further how to tackle the scrutinization of your business method, its applicability to global markets, its customer centricity and its relevance to people. A 15-minute call will already give you a lot of insights!

Links to info used in this answer:
https://www.forbes.com/sites/groupthink/2016/03/02/top-20-reasons-why-startups-fail-infographic/#3d93d75d3911
https://www.forbes.com/sites/tanyaprive/2013/03/29/top-11-reasons-startups-succeed/#91475eb2ab7a


Answered a year ago

Congrats on submitting your provisional patent! It's a good to put a stake in the sand for a host of reasons.

I've created, reviewed, analyzed numerous business methods, processes and objectives in web and app powered businesses. Even before there was a web or app, I used many of the same disciplines through prior generations of technology. In my most recent start-ups, I created a method called "The Revenue Wheel of Fortune" to size up markets, distribution channels, and customers. I do this before writing the first line of code.

I'm not sure what industries you are targeting. I've been in a wide array (financial services, high tech, telecom, healthcare, retail...) and have found that there are many common themes.

I'd love to learn more and share some of my "tricks of the trade" with you. I advise many start-ups on the same topic so please set-up a call if you'd like to chat.


Answered a year ago

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