I have known paranoid individuals for most of my life. Usually their paranoia is self-destructive, not a pleasant thing to discover. Some individuals are paranoid that others are trying to take their wealth, or their wife, or their glory, or that they will be contaminated and made ill. The gamut of fears that paranoid individuals believe they confront is endless. These insecurities may become severe handicaps that may handicap one as life unfolds.
On the other hand, paranoia for the entrepreneur or perhaps an inventor is usually a healthy mindset, so far as their work item is concerned. We counsel clients to believe that somewhere, someone is concentrating on a concept that can beat or surpass their idea in the market. Another bit of oft provided advice is this: “time will not be an entrepreneur’s friend”.
The tech arena of the 1970’s and 1980’s was the core of the greatest entrepreneurial explosion in history. Whole industries were born and the nature of human existence was radically changed, and improved, as new applications were discovered and commercialized by these ambitious pioneers. The New Invention Ideas has always provided the best rewards to the first one to market mover. Being paranoid is a worthy and necessary trait that most successful innovators possess and control within their push to obtain their idea towards the market before competitors.
After putting himself with the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the usa Marine Corp, Mr. Ficke commenced a career in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Good Hair Care at age 28, he then launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.
Geoff Ficke has been a serial entrepreneur for nearly fifty years. As being a small boy, earning his spending money doing odd jobs inside the neighborhood, he learned the need for selling himself, offering service and affordability.
Retailers always assume the stance of what have you ever accomplished for me lately!
I cannot overstate the significance of paranoia and urgency as being essential arrows inside the successful entrepreneurs quiver. We have seen the unsettling despair that engulfs inventors that see their work, dream and investment scuttled by overconfidence and delay. It is not pretty to experience, but happens far more often than imaginable. The real waste is that it can almost always be averted if prudent steps are come to move and become aggressive.
Paranoia and urgency are first cousins when wanting to launch How Do You Patent An Idea, service or idea. The the fear of getting beat to store shelves by a competitor insures that driven entrepreneurs move expeditiously to perfect and launch their enterprise as quickly as reasonably possible. This can be positive paranoia.
The great Technology entrepreneur Andy Grove was once asked what dictum he used as a grounds for running his Company, Intel. His response was simple: “only the paranoid survive”. Mr. Grove grew Intel coming from a garage business in Silicon Valley in to the world’s largest computer chip manufacturer as well as a lynchpin in the fabulous spread of technology into virtually any home and business in the world.
The key to insure continued success is definitely the speed in which the innovator uses to penetrate the market. The first one to market mover has the advantage of being recognized by the trade because the “real innovator”. They have introduced jxegmd product which defines the course. While knock off products may be cheaper, or come in a number of styles, they will be viewed as followers, not leaders, when the entrepreneur moves aggressively to distribute the product for the widest sales universe.
After the product hits store shelves, to be able to secure longer term success, a new type of paranoia has to come in to play. Currently, the inventor must confront the opportunity, actually the probability if the product achieves initial success, that competitors will immediately begin the process of knocking off, or duplicating the Inventhelp Headquarters. Duplication can be the best form of flattery. However, if a well-healed competitor decides that this opportunity is ripe they can flood the marketplace with cheaper versions of the product. You need to anticipate and be equipped for this probability.
An additional answer to cementing the first to promote mover advantage is: quickly follow-up the launch item/s with line extensions. The following is another absolute marketing reality: Your product is rarely the highest, merely the latest”. Buyers will watch sales trends. As soon as your launch item begins to gain traction, they will want to understand what new stuff you have visiting stoke the pipeline.