Reflecting on the Entrepreneurial Spirit
Staggering to bed at 2:30am today, I thought of a conversation with a client a few days ago, about life in the 20’s. Not necessarily in the 2020’s. But, in everyone’s 20’s life. For me that was the 1980’s.
The 80’s was a time when you worked for other people, any job. Leaping from one job to the next to make more money. Banks routinely did not lend to people. Good luck getting a business loan. Credit cards offered small credit lines.
The stock market wasn’t as manipulated. Yes, houses were 1/10 the cost, but few could buy them. Housing prices appreciated slowly.
To build wealth, you had a choice between the opportunities of your profession, real estate, stock market and/or owning a business – including creating an invention.
We’re here for the latter.
How the Spirit was like in the 80’s
Market entry for a business was hard in the 1980’s. If you had a product you had to find a retailer who’d give/sell you shelf space. It was difficult to even get a short appointment. Retailers ranged from local or very regional, rarely national. To get a trademark your product would have to physically be on shelf in more than 1 State. Take a picture to prove it to the USPTO. You’d wait 3-6 months for a national magazine to print. Services were easier to start, but growth was usually slow, by city to county. State trademarks were the way to go for most services. What a tough way to build generational wealth.
Compared to Today’s Spirit
So, how about NOW?!
For my 3 kids their 20’s are now. They remind me of the same desperate time I had in my 20’s. Life after college. To really figure life out. Sink or swim. How to balance personal and earnings life. How to build wealth?
Spirit has become Overwhelmed
The difference between now and then is the seemingly infinite tools available now. Sometimes overwhelming, unending choices. All time consuming. Incredible reach, however overmatched with a flood of competing messages. Does any message resonate? How long is the shelf life of a new message nowadays? There is still only 24 hours in a day. Start over. Start again. New day.
Overwhelming is the word.
I suggest to my kids to be aware of the ways to make $. Study them. Know of them. All of them. Namely, profession, real estate, stock market and/or owning a business – including creating an invention.
My kids can teach me about the determination to finish college in 4 years, not the circuitous 7 year plan I took. While they are way more focused, they just don’t seem to have the same opportunistic outlook, despite being way more critically versed in today’s Internet world. I sense it in the people I talk to every day. With Zoom, I can see it in people’s faces.
National or Nothing Spirit and Mentality
Nowadays it seems EVERYONE is doing business NATIONALLY, plus there are 100 million more people in the USA than 40 years ago. No wonder everyone is so stressed out!
So, as a man, I later replaced, once said all the time. KISS – keep it simple, stupid.
Fundementals for Improving Business Spirit
For a business idea, product or service, the fundamentals are the same.
1) Find a need, fill it.
2) Compare competitors, find a way to beat them.
3) Devise a marketing plan, or at least an outline you can fill in.
4) Get proper financing. Wait until you have it.
5) NAME IT, be LEGALLY CLEAR, under trademark law. Maybe get a trademark too.
6) Set up and start your venture.
7) Continually review and revise everything.
Step, by step, by step – by step.
Know what you are getting into. Know your risks. Be ready to adjust. Constantly.
It really isn’t that hard. You’ll know soon enough if you have a winner. When your venture demonstrates it can overcome, you’re sure to come mistakes. Over and over again. Then you know with surety you have something to keep.
Sealing the Deal with Entreprenuerial Spirit
THEN DEFINITELY SECURE THE TRADEMARK to own your most valuable asset, the name or your company/product. BE SMART. BE SURE YOUR MARK IS LEGALLY CLEAR. Secure your peripheral I.P., namely your LOGO design and slogan too.
———
A word to the wise. If the idea and start-up period was fun and easy for you, then maybe THAT is what you should do. Start businesses. Over and over again. Sell them off in the upswing for those “franchise managerial types”, who want a pre-digested business to run with and have the $ to buy it. The TRADEMARK will be the foundation of that sale.
In today’s 20’s, the tools available are overwhelming, but at least now achievable.
Use them smartly. Step, by step, by step – by step.
About TradeMark Express
Founded in 1992, TradeMark Express is committed to providing comprehensive trademark research and services. With a network of 12 experienced trademark attorneys, the company focuses on ensuring that its clients receive thorough support throughout the trademark application process. Despite the USPTO having a 48.2% initial refusal rate, our clients have not had a final USPTO refusal since 2008.
Finding Your Frequency Interview
Finding Your Frequency is a podcast that connects listeners with top creators, influencers, and entrepreneurs, exploring their stories and insights. Hosted by Chris Budihas and Jaclyn Baker, the show aims to inspire and inform audiences about the ever-evolving landscape of business and creativity. Please see Chris DeMassa interview: https://conta.cc/40keZuA/.
Thank you,
Chris DeMassa, Founder
650-948-0530
Email: staff@tmexpress.com
Web Site: tmexpress.com
Order: https://www.tmexpress.com/order-my-trademark
Creative Naming – http://miramark.com/nameit/
Zoom Anytime – https://bit.ly/TradeMarkZoomMeeting
Calendly Meeting – https://calendly.com/tmexpress/15min
TM®SM Crash Course – https://www.youtube.com/watch?v=3gWaAJR5L18
12 Expert Trademark Attorney Network Included.
LinkedIn – https://www.linkedin.com/in/chrisdemassa/
Ask about our $1000 Trademark Challenge.
Blog Articles – https://tmexpress.com/trademark-blog/
Testimonials – https://tmexpress.com/testimonials
TrustPilot – https://bit.ly/TrustpilotRating