Business
Cashflow and planning are at the crux of what Scot talks about this week when it comes to staging your project. A critical question you must answer in determining your launch strategy is are you going to partner with a distributor or are you going to take on the task of selling the product yourself. The point Scot makes is that you can’t be all things to all people. During the discovery and design phase of the project, you may have identified several different markets where your product can help. However, the financial reality is you need to choose a market and stick to it to generate cashflow. As an entrepreneur who is close to your project, of course, you can see how your invention can help half the world. The marketing energy required to educate and convince a single market, let alone half the globe will be enough to keep you occupied for months, if not years. Success for the inventor and entrepreneur is often the result of many small victories. You must have lofty goals, but you must generate small wins first. If you have any questions about the content in this episode, please email: hamish@hamishchadwick.com