5 Steps To Go From Idea To Incorporated »
Posted By JaneMay 1 year, 3 months ago in Business & FinanceAre you the kind of person that has a dozen good ideas a day? The kind of person that dreams of owning their own company, working the hours that they set, and realizing the kind of success that is reserved for big names and big business?
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mark-stevens1 year, 3 months ago
Why is this guy telling us how? Why isn't he doing this???
I have been doing business on the internet for the last seven years. Do you have any idea how many flying pig farms I've bought??
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JaneMay1 year, 3 months ago
I found these tips to be helpful many times. Has anyone gone through a similar process? Any thoughts?
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Searchbeam1 year, 3 months ago
JaneMay,
Excellent post. This is good advice!
Having successfully launched 2 businesses, I have realized one VERY IMPORTANT rule of thumb:
It will take from 3 to 5 years for your business to succeed. During that time, a lot of things can happen - some good, some very challenging. One of the challenges you don't need is the sudden shortage of capital.
If you think you will need X dollars to start and run your business for 5 years, you MUST have 3X dollars available to you. This improves your chances by a factor of two!
Something to think about!
Success is 10% inspiration and 90% perspiration!
And good old Murphy is always lurching in the shadows!
Peace and Blessings!
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mark-stevens1 year, 3 months ago
Time periods are a vague notion. In my industry the life span of a company is five years. Technology industry is dangerous, competitors out sourcing can bury you on cost alone.
There is one blogger that claims to have made millions, tells of owning multiple expensive cars, a private jet, a large house(?) 4500 sqft... must be L.A. Point he told everyone "he is so busy that his vendors can't keep up". I contacted him saying my area (Seattle) may have untapped vendors. I never heard back from "I'm a business millionaire".
Everyone... free advice is worth that. Before you spend one dime work real hard investigating first, if that takes too much work... you answered your own question.
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saneman1 year, 3 months ago
That's why invention promotion or marketing companies make millions off people like that. Instead of telling the guy that his invention has no market success, they tell him that its a great idea. Inventhelp,a.k.a.ISC makes $30 million per year off those types of people and have a success rate of .01%. Each hooked, lined, and sinkered person pays $20,000 to Inventhelp and gets nothing in return.
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zcaveman1 year, 3 months ago
The problem with this article is that it only explains the very basics of starting a business, which most people already know. It fails to explain the costs, such as a patent search ( usually about $350.00) How to aquire the raw materials for the best price, Call a company that uses similar material for their product and ask who their suppliers are. The equipment to manufacture a product and the power to run the equipment is the Key! There are two ways to do this, either engineer the equipment yourself or contact students in an engineering course and explain what type of equipment you need. You maybe helping them with their next project as they help you develope your equipment. Who knows, you may find a partner you never knew existed.
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puffin1 year, 3 months ago
Keep in mind, not many companies will just give up their suppliers. Why do business with someone when you can skip them, the middleman, and go right to the supplier?
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saneman1 year, 3 months ago
If you're not interested in getting a patent, but are concerned about whether or not you are infinging someone else's patent then instead of doing a patent search, you would do a patent infringement study which is much more intensive, detailed, and costlier than a regular patent search. To conduct a patent search, one can do it online by simply logging into www.uspto.gov and accessing the patent database and doing a keyword search. Also, one can also become incorporated for as little as $150 by doing it online.
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randomzen1 year, 3 months ago
With the advent of blogs come totally vague and wholly useless vignettes on anything and everything; each promising some secret wisdom, and delivering pure drivel. As for what these "steps" are really worth, one might have just as easily put down "be successful" or "make money" among them.
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