posted from http://youtu.be/FKZBeW7SL2I
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Barbara Corcoran is well known for her skills in the area of business and investing in businesses. She’s a “Shark” investor on The Shark Tank as well as an author and columnist.
Here she explains very quickly and eloquently some tips on what she considers before investing in a business. These are tips that you can easily and quickly implement into your business, ensuring you have focus on your outcomes.
If you are creating a product, and you’re wishing to patent it, make sure you patent it in YOUR name, and not your partner’s name! Seems crazy when you write it out that people would do this, but when you enter a relationship, it’s built on trust and this would seem to be a trusting thing to do – let your partner patent your product. However, the future is uncertain for us all, ‘things’ happen, and they’re not always in your control. Consider retaining the patent in your name if you are the true inventor!
Consider your work ethic in establishing your business. Look at it from the point of view of an investor. Would you invest your hard earned money into a business where the owner has only half heartedly promoted their products? Or would you be more likely to invest in another company where the leader has walked the streets, pounded the pavement, tried many different avenues to ensure sales? A very good point to consider.
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