I ran across this post and article about Mom Entrepreneurs (Great idea, get a patent) over at Boston Gal's Open Wallet and thought it was perfect to share on More Money Mondays!
Great idea? Get a patent!USAToday has a great article about a couple of Massachusetts entrepreneurs: Moms crafted a baby-booming business
Seven years ago, Julie Dix and Danielle Ayotte were stay-at-home moms, shuttling kids to soccer practice and setting up play dates. Now, the two run a multimillion-dollar company called Taggies that is rapidly spreading into a global enterprise.
And it all got started with a child's blanket.
They had a great idea, but one that is easily copied. Spending the time and money to get the patent for their idea has been key to their success. It has lead to lucrative licensing deals.
The USA Today article has some insight for start up businesses such as how to find an initial idea, how to protect it, learning to sell, and getting good financial advisors on board.