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Digg it UP - Licensing Your Way to Wealth
In order to motivate yourself towards a successful and rewarding career, you need a combination of several factors to work together in your favor. These factors may include your own ambition and efforts to prosper, backed by the love and inspiration of your loved ones. However, it is important to remember that the ultimate responsibility of excelling in the career of your choice is yours and only you can work towards it to make your dreams a reality. While planning for your career development, you will also need to understand and analyze your talents, qualifications and skills that might help you in getting inspired towards
When you venture your own product, you are competing with larger, more established and experienced companies for market share
In our previous installment of medical billing, focusing on electronic transmission of claims and the GU0 record, we began our journey into the fields of the GU0 record that need a road map, a degree in advanced mapping and a lot of patience just to understand. In this installment, we pick up our review of the GU0 record with field number 31.GU0 field 31, position 117, is Reply ALN L01 N06. This is the response to the sixth question on any DMERC certification requiring a one position response. The forms supported are 01, 02, 04 and 07 for responses Y, N or D. For form 10, the valid response is either Y or N. For
Licensing—granting rights to make, use and/or sell your invention to a company; or
Venturing—starting your own company to make, use and/or sell your invention.
Licensing requires little time and money and is extremely risk-free, while venturing requires a huge amount of time and money and is extremely risky. (There is only one exception to this rule that will be the subject of my next book Venturing on a Budget.).
When you venture your own product, you are competing with larger, more established and experienced companies for market share.
Customer service is important in any type of business and is also important in private education. Customer service in public schools is nonexistent compared to that of the average business. In a private school, which is often run very similar to a business they need to be cognizant of the fact that community goodwill, public-relations and great customer service is paramount in their success.How does a private school engage its customers in a meaningful way? How can a private school give better customer service; what types of things they need to be thinking of? Well, the first thing they need to do is survey all t
Venturing—starting your own company to make, use and/or sell your invention.
Licensing requires little time and money and is extremely risk-free, while venturing requires a huge amount of time and money and is extremely risky. (There is only one exception to this rule that will be the subject of my next book Venturing on a Budget.).
When you venture your own product, you are competing with larger, more established and experienced companies for market share
The new buzz-word in the Auto Industry for customer service is; Right-Selling, your customer. In other words do not sell your customer something they do not need or up-sell them into oblivion. The problem starts industry consultants continually talk about; dollars per customer sale.In other words how much money did you make on average for each person it came in to purchase something? This is a bad way to judge your business especially if you are in a business which requires a repeat business to ensure success.Oil change facilities, car washes and many other automotive service businesses work very hard and even
When you venture your own product, you are competing with larger, more established and experienced companies for market share
The other night I phoned to activate a charge card, expecting it would take a minute or two, and I’d be on my way.Instead, I was held hostage by a representative who immediately launched into a talk-a-thon about balance transfers and perhaps five more topics that had nothing to do with the purpose of my call.If I didn’t interrupt, I might not have found the time to write this article.Of course, I was being cross-sold, but it was being done so flagrantly, so crudely, and so insensitively, that even I, an ardent advocate of cross-selling (and up-selling--a kindred art), found the effort offensive.W
When you venture your own product, you are competing with larger, more established and experienced companies for market share
If you as a small business owner have a web site and need to deal on a regular basis with a web hosting provider, web development company or a web site design vendor, you may have experienced less than stellar customer service. During the last week, I have engaged in 5 very long detailed conversations about the poor customer service being delivered by web developers and web site hosting companies. All of these conversations shared exactly the same complaints and what’s even more interesting in the exact same order.Complaint #1: Poor communicationCommunication continues to be an even greater challenge when tec
When you venture your own product, you are competing with larger, more established and experienced companies for market share. When you license, you are partnering with these same companies to bring your product to market. Simply put, licensing allows you to leverage the time, money and experience of successful companies in order to reduce your risk, increase your chances of success, and create passive residual income.
My last successful invention cost my licensee (the company I licensed my invention to) over $100,000 to launch. The company is a large pet product manufacturer with years of industry experience and with well-e
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