I have known paranoid individuals for most of my entire 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 can become severe handicaps that will handicap one as life unfolds.
On the other hand, paranoia for the entrepreneur or even an inventor is generally a healthy mindset, in terms of their work item is concerned. We counsel clients to imagine that somewhere, someone is concentrating on an idea that may beat or surpass their idea in the industry. Another bit of oft provided advice is this: “time is not an entrepreneur’s friend”.
The tech world of the 1970’s and 1980’s was the center 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 Inventhelp Store has always provided the highest rewards to the first to market mover. Being paranoid is really a worthy and necessary trait that every successful innovators possess and control within their push to obtain their idea for the market before competitors.
After putting himself through the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the usa Marine Corp, Mr. Ficke commenced a career within the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, then he launched a number of ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.
Geoff Ficke is a serial entrepreneur for almost 50 years. Being a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the value of selling himself, offering service and good value.
Retailers always assume the stance of what have you ever done for me lately!
I cannot overstate the importance of paranoia and urgency for being essential arrows in the successful entrepreneurs quiver. We now 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 you can imagine. The true waste is it can typically be averted if prudent steps are taken to move and become aggressive.
Paranoia and urgency are first cousins when trying to launch Prototype Model, service or idea. The anxiety about getting beat to store shelves by way of a competitor insures that driven entrepreneurs move expeditiously to perfect and launch their enterprise as fast as reasonably possible. This really is positive paranoia.
The fantastic 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 into the world’s largest computer chip manufacturer along with a lynchpin within the fabulous spread of technology into virtually every home and business on the planet.
The true secret to insure continued success will be the speed in which the innovator uses to penetrate the market. The first to market mover has the advantage of being recognized by the trade as the “real innovator”. They may have introduced jxegmd product which defines the category. While knock off products may be cheaper, or come in a selection of styles, they are viewed as followers, not leaders, if the entrepreneur moves aggressively to distribute the item towards the widest sales universe.
Once the product hits store shelves, to be able to secure longer term success, a new type of paranoia needs to are available in to experience. Currently, the inventor must confront the opportunity, actually the probability in the event the product achieves initial success, that competitors will immediately begin the whole process of knocking off, or duplicating the How To File A Patent. Duplication could possibly be the best type of flattery. However, in case a well-healed competitor decides that this opportunity is ripe they can flood the marketplace with cheaper versions in the product. You need to anticipate and be equipped for this probability.
An additional key to cementing a first to advertise mover advantage is: quickly follow-the launch item/s with line extensions. Is another absolute marketing reality: Your product or service is never the greatest, only the latest”. Buyers will watch sales trends. As soon as your launch item begins to gain traction, they would want to understand what new stuff you have arriving at stoke the pipeline.