Image via Pexels Scenario planning is a highly effective tool that businesses can utilize to survive and thrive in an ever-changing market. It is an analytical approach that assesses different scenarios, identifies potential opportunities and challenges, and helps organizations make informed decisions about their strategies and investments. While it may seem like a [...]
A BBC video presents a number of visualization techniques. https://www.bbc.co.uk/ideas/videos/five-charts-that-changed-the-world/p0fb69c1 Two of which are particularly interesting for displaying complex technical and intellectual property data. Coxcomb Chart Example The first of these is the Coxcomb chart. It’s a stacked form of a pie chart, and visually much easier to understand than stacked bar charts [...]
There are some key points in the book, “Range, How Generalists Triumph in A Specialized World” by David Epstein, that really caught my eye. Many are applicable to the way innovation is managed. First was “to use a common metaphor, premodern people miss the forest for the trees; modern people miss the trees [...]
Point of View: As more and more “traditional” companies are offering “digital” product interfaces and controls, it is timely to consider the different type of patent strategies required for the “digital high-tech” initiatives of many traditional “product” companies. For companies offering computer and mobile Interfaces for their traditional business offerings, they need to [...]
The modern era could be called the digital age, at least as far as doing business is concerned. Most, if not all, of your clients and customers use the Internet, and all of your competitors are using advertising to target those clients. Make sure your business is innovating and keeping up with the [...]
We tend to think of the only useful data as the “big data” that are acquired, saved, and analyzed by massive organizations, search engines, and corporate entities. As entrepreneurs, we have to stop looking at data this way, and we must learn to use the information available to us to best run our [...]
As your business thrives in its unique niche, new opportunities naturally become available to you. You may discover that your target audience has a demand for a new product or service that you could put on offer. By reinvesting the revenue earned through your successful ventures thus far, you can expand your business [...]
Image via Pexels To get a business up and running, taking on debt is often necessary. However, statistics show that about half of new businesses fail within the first five years because of financial troubles, such as excess debt, poorly managed credit, and low working capital. Profitable businesses need to be able to [...]
Photo via Pexels A growing number of female entrepreneurs are attracted to the idea of running an ecommerce business. If that’s you: it doesn’t cost a lot to get started, you can do it on your own, and you even can operate entirely from your own home. Not only that, but the future [...]
Preparation is Essential According to the Bureau of Labor Statistics, around 70% of businesses survive two years, and more than half fail after five years in business. Unfortunately, there's no guarantee you'll succeed, no matter your industry. However, if you're in research and development or intellectual property management, your chances of success are [...]
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