4 ms·
I think your step 2 should be the first thing you do. What's the point of spending money if you don't know you can make it back? A business plan is part of init
by jkestner 11y ago
I think your step 2 should be the first thing you do. What's the point of spending money if you don't know you can make it back? A business plan is part of initial product development.
- 6stringmerc 11y agoFair point, and constructive as well. My thinking, re: splitting into Step 1 and 2 in this case, alludes to wanting IP protection first and foremost, then conducting research and running numbers and models to establish the financial and production metrics that might be appealing. From there, present the full business case and protected IP to potential investors. The Patent Attorney said something like what you said as well - the purpose is generally to make money, not have a fancy thing to hang on the wall - so taking the time, effort and cash to invest in it personally should be a serious venture...not like throwing good money after bad, but as an affirmation that it's worth pursuing for my own purposes, and in theory, to make a nice pile of money in recognition of coming up with something of merit to customers. I hope this reasoning makes some sense, and I do very much appreciate your postulation.