Jump Starting a Startup

Challenge

An inventor with a recently awarded patent was seeking a quick and cost-effective start-up to help create support and commercialize the concept.

Solution

Several initial meetings were held with the inventor to discuss the intellectual property followed by a thorough analysis of the market (customer needs, competition, size, obstacles, etc). Ringbolt created and managed the startup by conducting multiple, simultaneous activities including the following.

  • Incorporated the company and obtained professional services
  • Designed the company brand (personality, logo)
  • Created the company website and content (pages, posts, video teaser)
  • Identified, engaged and qualified product developers
  • Wrote the company business plan, marketing program plans, and a case study of a competitor that had successfully entered the market
  • Built an advisory team (regulatory, market, development)
  • Created a detailed, five-year proforma forecast in Excel
  • Created PowerPoint presentations and managed submissions for grant competitions and investor meetings

Result

Actions, including those taken above led to finalist status in both The Big Launch Competition and the NC Idea SEED Grant program. The rapid development of the startup and public awareness opened doors to potential investors, enabling the inventor to accelerate the advancement of the concept toward commercialization.

Why You Should Invite a Devil’s Advocate into Your Business

You and your team have spent weeks getting a plan together for a new product, service or strategy. To arrive at this plan, you’ve interviewed and surveyed numerous stakeholders, conducted market and competitive research, worked out detailed launch and support plans, generated proforma financials and created a great PowerPoint presentation for executive management review and approval.

It’s been a long haul but, finally, everyone is on the same page, and everything is ready to go for a great success – or is it? Inviting a Devil’s Advocate into your business can help answer this question.

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Simplifying Complex Concepts for Non-Technical Audiences

Very bright researchers and technical professionals are often challenged to explain complex concepts in a simple way that can be understood by non-technical audiences. Relying on the alphabet soup of acronyms and arcane terminology from their subject matter expertise can lead both the technical presenter and non-technical audience to a frustrating impasse in understanding.

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