Startup Funding Espresso Mistakes in Commercialization
Mistakes in Commercialization Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Commercialization of technology requires key skills in market research, product development, and customer engagement. Avoid these mistakes in commercialization: Focusing on researching the technology only. Set aside time for selling, marketing, and product development. Failing to maintain commitment. Tech commercialization requires several years of work to achieve. Recruiting only other researchers onto the project. You\u2019ll need skills from outside the research community such as sales and marketing skills. It\u2019s important to build a team with diverse backgrounds. Failing to raise funding. It\u2019s important to build a network of investors funding your project both public and private. Inadequate vendors and suppliers. Make sure to recruit providers who can meet your specifications and criteria. Skipping customer research. It\u2019s easy to admire your own idea but it\u2019s critical to find customers who will pay for it. Ignoring the competition. It\u2019s important to understand the competitors and their offerings. Failure to follow the market. Markets evolve and change over time so you\u2019ll need to follow the market with product updates. Consider how to overcome these challenges in your commercialization efforts. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .