Archive for the 'Intellectual property' Category

Four IP questions to tell if you get it

One of the most interesting aspects of the marketplace is the evolution of how businesses leverage assets. For most of history, business leverage came from these three categories in this order:

1. Muscle power (human or animal);

2. Tangible stuff (raw material, inventory, tools, etc.);

3. Information (intellectual property, or IP).

Historically, the strongest cavemen, the biggest horses, the fastest ships, the largest factories, all had an advantage over lesser competitors. We’ve all seen this: “Largest inventory in the region.”

But here’s the interesting part: As the marketplace has evolved, the order of importance and the value of assets has inverted. Studies show increasing emphasis is being placed on IP and the ability to leverage it with less emphasis on leveraging tangible assets.

And what about muscles? Increasingly in the global marketplace, human brawn is number four on a list of three.

The good news is small businesses are joining this global trend of leveraging IP more and tangible assets less. They’re increasingly using technology in exciting new ways, doing more virtual business and are as likely to develop a strategy for doing business across an ocean today as they did across town 20 years ago.

Regarding how essential IP is to a small business’s 21st century competitiveness, more and more small businesses get it.  The bad news is there still are far too many who don’t. As an example, incredibly, almost half of small businesses still don’t even have a website.

To see if you “get it,” consider these four questions:

1. If I gave you for free (a) a truckload of inventory or (b) a special technology that would help you serve customers better, which would you choose?

2. Do you spend more time (a) thinking about products and services or (b) finding technology to more effectively serve new customer expectations?

3. Do your employees (a) use the same technology in the direct performance of their jobs today that they did 5 years ago or (b) different technology (not just new machines)?

4. If you purchased another business, which would be more valuable to you: (a) the inventory and equipment, or (b) the digital records of their customers: names; contact info, including email; what they buy; when they want it; why they buy it; and how they use it?

If you chose (a) for any of these questions, it’s likely your business’s performance is on a declining trajectory. But if you chose the (b) options, congratulations, you get it about IP.

Write this on a rock … In the 21st century, leverage intellectual property more and tangible assets less.

RESULTS: Who should own the Internet?

The Question:

The Net Neutrality debate is about who controls the Internet: businesses through competition and contracts, or government by turning it into a utility. What do you think?

2% - The government should be in control of the Internet.
74% - The government should leave the Internet alone.
19% - There should be a way to balance control between these two.
5% - Undecided.
Jim’s Comments:

Should the Internet become a utility?

As you may remember, I’ve been reporting on the Net Neutrality issue for over a decade, including all the significant players in the debate.

Most reasonable people agree that one of the reasons the Internet has been such a phenomenal success is because it has been so lightly regulated. However, as I reported recently, President Obama has taken executive steps to make the Internet a public utility, subject to all sorts of government oversight.

When we asked our small business audience what they thought about this plan, almost three-fourths reject the president’s idea, with only 2% who think his plan is good.

One reason for this overwhelming response against the president is because small business owners have benefited on many levels, directly and indirectly, from an unencumbered Internet. And since over half of the U.S. economy is produced by small businesses, the president should pay attention to what this sector thinks.

In case you missed them, here are links to three articles I’ve written about the president’s  behavior regarding the Internet.

Why you should care about the net neutrality debate

If you like your Internet, you may not be able to keep it

Obama’s Internet words don’t match his actions

Obama’s Internet words don’t match his actions

“You will know them by their fruits.” This ancient wisdom is from the author of the Gospel of Matthew.

Sixteen centuries later, in his book “Will and Doom,” the Rev. Gershom Bulkeley, paraphrased Matthew with, “Actions are more significant than words.”

In the 21st century this timeless maxim continues to serve as we hear President Obama say, “I intend to protect a free and open Internet.”

In the past I’ve reported my concerns about the future of the Internet under the Obama administration. If you believe the Internet is one of mankind’s greatest inventions, if you like its current low barrier to entry for personal and professional benefit, if you’re responsible for the future of a business, then you should share my concerns.

CC Photo via Pixabay

CC Photo via Pixabay

1.  President Obama treats the Internet as a political and diplomatic bargaining tool. After the U.S. government was embarrassed by Edward Snowden’s theft of secrets, the President announced intentions to relinquish U.S. control of Internet governance to a “global, multi-stakeholder community,” even though there was time left on the contract with ICANN (For more on this, see my 3/23/14 column, “If you like your Internet, you may not be able to keep it”).

It’s no secret the U.N., a global, multi-stakeholder community, covets control of a ubiquitous asset through which it can exert more influence and levy a global use tax. Nothing fits that profile better than the Internet. If Obama’s governance plan for the Internet comes to pass, his words, “protect a free and open Internet … so innovators and entrepreneurs can reshape the world,” won’t match his actions.

2.  The commercial Internet has flourished for more than 20 years thanks to a very lightly regulated environment. By definition such broadband laissez-faire is unacceptable to President Obama, who wants to impose his own version of net neutrality.

Consequently, the President’s FCC chairman and straw man, Tom Wheeler, has announced plans for an “Open Internet Order” to reclassify broadband access as a “telecom service” under Title II of the Communications Act. This means the Internet would become a government regulated – and ultimately taxed – public utility. Turning the Internet into a utility would be like performing a heart transplant on someone who just needs a baby aspirin. (For more, see my 11/16/14 column “Why you should care about Net Neutrality”).

Today the Internet is not without governance and usage issues, but none that can’t be handled by marketplace participants large and small through contract, creativity and competition.

Write this on a rock … If Obama’s plans for the Internet come to pass, his words, “I intend to protect a free and open Internet,” will not match his actions.

RESULTS: Who do you use when you need, or have needed, website development services like building or upgrading a website?

The Question:

Who do you use when you need, or have needed, website development services like building or upgrading a website?
39% — A local, small web development firm
9% — An online web development company that helps us            do it ourselves
44% — Individual consultants
8% — Don’t have a website

Jim’s Comments:

First, I’m happy to report that more than 90% of the small businesses that hang out with us have websites. And for all of the money spent advertising to have your website created - sometimes for free — with the help of a national online developer, less than 10% have availed themselves of this type of resource. Finally, whether a local firm or individual web developer, over 80% have primarily employed one of these small business alternatives.

There could be many reasons for the dominance of these last two, including that most of us already had a website before the large online platforms became so prominent, or we have more customized requirements that don’t fit cookie-cutter resources, or we just want to do business with other small businesses. Either way, I was pleased to see these answers because they lead me to believe that the online presence of small businesses has improved in quantity and quality.

Congratulations to all who participated and keep up the good work. Please be sure to respond to our new poll.

VIDEO: Acquire and create intangible assets for your small business IP Strategy

I recommend every business have an IP strategy, but how do you acquire those intangible assets for yours? You can think of both kinds of assets — tangible and intangible — as a new way to succeed and draw in customers. After all, it is the Age of the Customer.

Click on the link below or on the image to start playing the video.

Acquire and create intangible assets for your IP Strategy from Jim Blasingame on Vimeo.




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