I have known paranoid individuals for most of my entire life. Usually their paranoia is self-destructive, not a pleasant thing to discover. Some people 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 can handicap one as life unfolds.
On the contrary, paranoia for the entrepreneur or perhaps an inventor is usually a healthy mindset, in terms of their work product is concerned. We counsel clients to assume that somewhere, someone is concentrating on an idea that can beat or surpass their idea in the marketplace. Another bit of oft provided advice is this: “time is not really an entrepreneur’s friend”.
The tech arena of the 1970’s and 1980’s was the center of the highest entrepreneurial explosion throughout history. Whole industries were born as well as the nature of human existence was radically changed, and improved, as new applications were discovered and commercialized by these ambitious pioneers. The Patent Ideas has always provided the best rewards to the first one to market mover. Being paranoid is actually a worthy and necessary trait that all successful innovators possess and control inside their push to get their idea for the market before competitors.
After putting himself with the University of Kentucky (B.A. Broadcast Journalism, 1969) and serving in the United States Marine Corp, Mr. Ficke commenced an occupation in the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Good 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 has been a serial entrepreneur for pretty much fifty years. As a small boy, earning his spending money doing odd jobs in the neighborhood, he learned the need for selling himself, offering service and value for money.
Retailers always assume the stance of the items perhaps you have accomplished for me lately!
I cannot overstate the significance of paranoia and urgency to be essential arrows within 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 really not pretty to enjoy, but happens far more often than you can imagine. The true waste is it can more often than not be averted if prudent steps are taken to move and be aggressive.
Paranoia and urgency are first cousins when seeking to launch New Product Idea, service or idea. The the fear of getting beat to keep shelves by a competitor insures that driven entrepreneurs move expeditiously to perfect and launch their enterprise as quickly as reasonably possible. This is positive paranoia.
The fantastic Technology entrepreneur Andy Grove was once asked what dictum he used as a basis for running his Company, Intel. His response was simple: “merely the paranoid survive”. Mr. Grove grew Intel from a garage business in Silicon Valley in to the world’s largest computer chip manufacturer along with a lynchpin within the fabulous spread of technology into virtually any home and business in the world.
The true secret to insure continued success is the speed in which the innovator uses to penetrate the current market. The first one to market mover has the advantage of being recognized by the trade since the “real innovator”. They may have introduced jxegmd product which defines the category. While knock off products can be cheaper, or come in a selection of styles, they will be seen as followers, not leaders, when the entrepreneur moves aggressively to distribute the piece to the widest sales universe.
When the product hits store shelves, so that you can secure long term success, a whole new kind of paranoia needs to are available in to play. At the moment, the inventor must confront the possibility, actually the probability when the product achieves initial success, that competitors will immediately begin the whole process of knocking off, or duplicating the Inventhelp Caveman Commercial. Duplication could be the best kind of flattery. However, if a well-healed competitor decides that this opportunity is ripe they could flood the market with cheaper versions of the product. You need to anticipate and be prepared for this probability.
An additional key to cementing a first to market mover advantage is: quickly follow-the launch item/s with line extensions. The following is another absolute marketing reality: Your product is rarely the greatest, only the latest”. Buyers will watch sales trends. As soon as your launch item starts to gain traction, they will want to really know what new items you have coming to stoke the pipeline.