While the excitement of a good idea and the technological challenge of implementing it can be exhilarating, neglecting the related business aspects can be a costly and sometimes fatal mistake. This is especially true when the idea and technology are dependent upon the use of content owned by others. Failure to pay or otherwise acquire the rights to use of someone else’s content where such use is central to the success of the venture, can not only cost the venture substantial amounts of money in litigation, but can be destructive of the entire business. But entrepreneurs who are considering such risks may be surprised to learn how many options exist that do not require a full and immediate payment.
Love the instincts and wisdom you entrepreneurs demonstrated in the “Show Me the Money!” blog challenge! There are two really important principles to remember when seeking funding for your business.... Read More