Leo Mazur

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Keep Your Money In Your Wallet Until Proof of Concept

most successful inventors and product development companies that I know, start off with a Proof of Concept Analysis BEFORE they start spending money. So if they do it, why not you? A full Proof of Concept Analysis consists of three equally important parts: Business Analysis, Ownership Analysis and Product Analysis. These steps should be developed simultaneously or at least completed before moving on to development or you WILL certainly regret it later. So after you savor that wonderful “Moment of Discovery” and you have finished daydreaming about striking it rich, you really do need to move forward to take a cold hard honest look at your new product. At this point you don’t have to go into excruciating detail, just a quick overview to make sure it is worth pursuing. The questions generated will form the basis of your development process.

You’ve Lost Your Non-Profit Status

We are still in limbo. I got a post card from the IRS telling us that they have received of our materials and that they will be working on it but with 270,000 extra cases to process I am not expecting anything real soon. If you knew of the change and have been filing annual 990s, my hat is off to you. However, no news in this case is really bad news because if you haven’t been filing an annual 990 and you haven’t received the notice, the IRS probably doesn’t know where you are. So rather than assuming everything is OK it might be a good idea to make inquiries.

Keep Your Money In Your Wallet Until Proof of Concept

After you savor that wonderful “Moment of Discovery” and you have finished daydreaming about striking it rich, you really do need to move forward to take a cold hard honest look at your new product. At this point you don’t have to go into excruciating detail, just a quick overview to make sure it is worth pursuing. The questions generated will form the basis of your development process. A full Proof of Concept Analysis consists of three equally important parts: Business Analysis, Ownership Analysis and Product Analysis. Let’s take a look at each part individually.