I have known paranoid individuals for most of my life. Usually their paranoia is self-destructive, not a pleasant thing to experience. 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 may become severe handicaps that will handicap one as life unfolds.
On the other hand, paranoia to have an entrepreneur or perhaps an inventor is generally a healthy mindset, in terms of their work product is concerned. We counsel clients to assume that somewhere, someone is working on a concept that will beat or surpass their idea in the marketplace. Another piece of oft provided advice is it: “time will not be an entrepreneur’s friend”.
The tech arena of the 1970’s and 1980’s was the center of the highest entrepreneurial explosion of all time. Whole industries were born and also the nature of human existence was radically changed, and improved, as new applications were discovered and commercialized by these ambitious pioneers. The Patent My Idea has always provided the best rewards to the first one to market mover. Being paranoid is a worthy and necessary trait that most successful innovators possess and control in their push to have 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 profession inside the cosmetic industry. After rising to National Sales Manager for Vidal Sassoon Hair Care at age 28, then he launched several ventures, including Rubigo Cosmetics, Parfums Pierre Wulff Paris, Le Bain Couture and Fashion Fragrance.
Geoff Ficke has become a serial entrepreneur for pretty much 50 years. As a small boy, earning his spending money doing odd jobs inside the neighborhood, he learned the need for 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 value of paranoia and urgency as being essential arrows in the successful entrepreneurs quiver. We have now seen the unsettling despair that engulfs inventors that see their work, dream and investment scuttled by overconfidence and delay. It is far from pretty to enjoy, but happens far more frequently than you can imagine. The actual waste is that it can more often than not be averted if prudent steps are taken to move and become aggressive.
Paranoia and urgency are first cousins when trying to launch Inventhelp Store, service or idea. The anxiety about 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 really is positive paranoia.
The great Technology entrepreneur Andy Grove used to be 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 from the garage business in Silicon Valley in to the world’s largest computer chip manufacturer along with a lynchpin in the fabulous spread of technology into virtually any home and business in the world.
The real key to insure continued success is the speed which the innovator uses to penetrate the marketplace. The first to market mover has the benefit of being recognized by the trade as the “real innovator”. They may have introduced jxegmd product which defines the course. While knock off products may be cheaper, or come in a selection of styles, they will be viewed as followers, not leaders, if the entrepreneur moves aggressively to distribute the product for the widest sales universe.
When the product hits store shelves, in order to secure long term success, a new type of paranoia must are available in to try out. At this time, the inventor must confront the opportunity, actually the probability in the event the product achieves initial success, that competitors will immediately begin the process of knocking off, or duplicating the Invention Idea. Duplication could possibly be the best form of flattery. However, when a well-healed competitor decides that the opportunity is ripe they could flood the marketplace with cheaper versions of the product. You must anticipate and be prepared for this probability.
Another factor to cementing an initial to market mover advantage is: quickly follow-in the launch item/s with line extensions. Is another absolute marketing reality: Your products or services is rarely the greatest, just the latest”. Buyers will watch sales trends. As soon as your launch item begins to gain traction, they will want to understand what new stuff you have visiting stoke the pipeline.