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4 Things Every Entrepreneur Must Know


Many people have great ideas that just get shelved. Even more, people have bad ideas that they spend time and resources trying to exploit, to no avail. Right now there is someone sitting at home watching TV being struck with an idea that could change the world. That person needs to be clear on the 4 Things Every Entrepreneur Must Know. The success of your start-up and idea WILL depend on it.

1. Protecting Your Ideas

Because innovation can & should come from any and everywhere, it’s important for people of all stripes to have a fair shot. For that reason, we will start with protecting your ideas. If you are like me, ideas are part of life. Each day brings a new one–if not several new ones. But, if we are honest, very few are worthy of protection. That one idea that keeps you up at night, and the “One” that all other ideas spring from, that may be the ONE worth protecting. …MORE

2. Disruptive Innovation

Disruptive Innovation is about elegant solutions to complex problems answering a question. It lies within the challenges. Embrace them. Sometimes the answer has been staring everyone in the face the entire time. Then all that is required is a “eureka moment.” It is important to have a framework that separates “ideas” from “disruptive innovation.” …MORE

3. Idea Development

Without further ado, let’s take a look at the NABC system for Idea Development from the Stanford Research Institute. This system can be used at every stage of development. Be honest is every step and learn from each challenge. You and your innovation will be better for it. …MORE

4. Franchising & Licensing

Franchising is the practice of the right to use a particular firm’s business model and brand for a prescribed period of time. Here we are talking about your brand and business model. This is a commitment of your time and resources that will pull you away from the day-to-day running of your existing business. Please be sure before you commit. …MORE

For more, follow me on Twitter- @mike_redwine or look for me here at ProgressiveArmy.com.

Written by Michael Redwine

I write about current events and the intersection of education, innovation and entrepreneurship for http://progressivearmy.com.

Michael Redwine is a Senior Writer for Progressive Army and a member of its Editorial Board.

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4 Things Every Entrepreneur Must Know