Finding A Winning Mindset For An Inventor

Something that most – if not all – successful inventors need is a winning mindset to help them persevere through to the end. Winning projects don’t just create themselves!

With this is in mind, I was interested to read the website of a London based hypnotherapist, Deborah.

The harsh reality is that most of us are not programmed for success. Whilst we may dream of it and work towards it, for many of us, success is elusive because we do not push as hard as we can or we sabotage ourselves at some point.

Hypnotherapists, like Deborah, work to help people overcome their mental barriers. Mostly, they help everyday people to do everyday things, such as to lose weight or to stop smoking. However, they also help entrepreneurs to overcome mental barriers and blocks that impede their success. We all have an area like this to work on, so it might be important for you to think about a solution like this to help you, your organisation, or your invention, towards the next level.

Economic Citizenship Explained

Some weeks ago I wrote about the idea of entrepreneurs buying citizenship from European countries, such as Malta.

A little extra time has passed and I still see the idea on my radar often. It reminded me to look closer and I found this website that quite neatly explains the role of citizenship by investment.

While the topic of economic citizenship will always remain controversial there are many reasons why successful entrepreneurs, innovators and inventors might be interested in it. It will certainly be a topic of growing interest as more countries struggle with their debts and need to find new ways to pay their bills.

Selling Your Idea To A Stock Market Listed Company

Something that all inventors dream of is the big sale of an idea to a major company. Selling to a small company means a small cheque, a large company offers the prospect of a much bigger cheque ;-)

This usually means that the inventor needs to work their way through multiple levels of upper management to secure the deal. Big cheques do not get written and signed by lower management…

The biggest of these potential buyers are listed on the major stock markets of the world (click here). The inventor needs to find a company that is a good match for the invention, either as an add-on product or service or as a way to enhance their existing range. It is usually easier to be an add-on. Enhancements need to be worked into an existing process or system and that can be difficult and expensive to do.

The trick is in approaching a multiple of companies. Having an interested party is great, having several provides negotiating power and a much higher likely sale price. The buyer will be hoping that announcing the acquisition of your product or service will translate into higher sales and profits and rewards from the stock market and investors of a higher stock price. There will be a lot riding on your decisions – make them wisely.

Staying In A Three Star Hotel In Malta

A recent event which was attended by your author was for inventors in southern Europe. It was a moderately attended affair, perhaps the economic malaise that is setting Europe back has an impact on attendance…?

While at the event, in Malta, I did not see any great new leaps forward and apart from a couple of panel sessions about intellectual property, I was not wowed.

However, I did stay in a very nice hotel based in Sliema and located very close to the hotel that actually hosted the event. Unlike the 5 star host hotel, this was a very acceptable 3 star in a great location – and it was much cheaper to stay there, which my boss preferred.

Is European Citizenship For Sale?

As I look around the world and news for ideas of new and innovative business models, something has come to my mind often.

The model is neither new, or innovative, which is why it comes to mind – because the proponents use those words to describe their schemes every time!

I am referring to citizenship – or naturalization – schemes. These typically enable wealthy investors from other countries to make an investment (usually called a contribution) in a new country and along with some other criteria they will be able to obtain a passport from the country.

For people that live or were born in dangerous, unsafe, high tax or high risk locations, this can be a very appealing option.

At the time of writing, for example, Russia has been hit with sanctions from most of the developed world because of the ongoing trouble in Ukraine. If you happened to be a very wealthy individual in Russia with a family, getting some of your money and your family out might be an attractive idea.

There are a number of competing options – the market is getting crowded as governments struggle to raise money. Perhaps the most interesting citizenship scheme is from the tiny EU member Malta. More and more EU member states are bringing competing schemes to the market, but there may be few that compete with the designed to succeed Maltese scheme.

Applicants (in all the respectable programmes) need to pass some security tests, make full applications, become resident in the new country, prove that residency by renting or buying a residential property and making some form of “investment”. This is citizenship by investment after all ;-)

In some countries that investment requires starting a company that creates local jobs. In other places it means buying government bonds. In others it just relates to the contribution to the host country. Whatever it is, it is based on ability to pay and not talent. It is presumed that people with the ability to pay these prices also have some talents!

A Fantasy Football Innovator

Innovation in business models can come in a wide range of shapes and sizes. Mostly, we think of innovation as something that people in white coats do in a lab. Of course this is not the case.

For most businesses, innovation is all about trial and error. Thinking about something, coming up with an idea, then finding a way to test it and then repeating the test until there is a conclusion. Did this change help the company? If so, how? Should we continue to do it?

This is a part of the startup mantra and model of rapid iteration. Not every iteration is rapid though!

One firm that we like a lot has received quite a lot of attention in the tiny island of Malta. The firm, Oulala, has used big data and an algorithm to rate footballers in each of Europe’s five highest leagues. This has enabled them to create a weekly fantasy football game that is far more advanced than anything else on the market, in the UK or Europe.

Sure, their concept came from one big idea, but to make it real they test and track all sorts of areas of their business and are constantly tweaking the game and user experience to make it all work. It is inspiring to see!