Comments on: Successful Business Venture Checklist http://studenomics.com/entrepreneurship/successful-business-venture-checklist/ Fri, 10 Feb 2012 19:14:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Trevor @ Financial Nut http://studenomics.com/entrepreneurship/successful-business-venture-checklist/#comment-2386 Trevor @ Financial Nut Fri, 27 Mar 2009 00:31:05 +0000 http://studenomics.com/?p=706#comment-2386 I'd be careful about who you share your ideas with. When you have a really great idea, you have to be EXTREMELY careful about who you talk to. Who can you trust? Sometimes probably not even your friends. I don't even like to talk too much about the business I'm in, as it doesn't have too many "barriers to entry" and those who hear about it could easily go out there and take some of my market share. Just be careful. If you are going to get feedback from people, be extremely careful about who you tell. I’d be careful about who you share your ideas with. When you have a really great idea, you have to be EXTREMELY careful about who you talk to. Who can you trust? Sometimes probably not even your friends.

I don’t even like to talk too much about the business I’m in, as it doesn’t have too many “barriers to entry” and those who hear about it could easily go out there and take some of my market share.

Just be careful. If you are going to get feedback from people, be extremely careful about who you tell.

]]> By: Studenomist http://studenomics.com/entrepreneurship/successful-business-venture-checklist/#comment-2383 Studenomist Thu, 26 Mar 2009 22:10:27 +0000 http://studenomics.com/?p=706#comment-2383 Sorry for not being 100% clear with my take on scalability. It pretty much refers to having low variable costs per unit. It also requires a high initial fixed cost due to the capital needed to create the product. I used the example of software because it perfectly describes a "scalable" product. You spend the money upfront to create the product which could take many months. Once the product is created you can distribute it online for a very low cost or put it on a blank cd. Just to show you the other side of the coin: a very unscalable product is consulting. There is no one size fits all and every business client requires your full attention and a different result. When you sell software or write for a blog you pretty much create one product that can be used by everyone. I hope this helps and if you would like to know more please feel free to email me. Also if any readers would like their input on the article please feel free to do so. Sorry for not being 100% clear with my take on scalability. It pretty much refers to having low variable costs per unit. It also requires a high initial fixed cost due to the capital needed to create the product. I used the example of software because it perfectly describes a “scalable” product. You spend the money upfront to create the product which could take many months. Once the product is created you can distribute it online for a very low cost or put it on a blank cd.

Just to show you the other side of the coin: a very unscalable product is consulting. There is no one size fits all and every business client requires your full attention and a different result. When you sell software or write for a blog you pretty much create one product that can be used by everyone. I hope this helps and if you would like to know more please feel free to email me. Also if any readers would like their input on the article please feel free to do so.

]]>