Negotiations and Challenges

cycleWood Solutions is in the final stages of negotiation for a patent license.  While this is definitely not a trivial step, it has taken longer than I thought it would.  We've been through several rounds of negotiation and we're getting close to an agreement that works for all involved.  It has been a learning experience.

We have other challenges as well as we move forward in the business.  Some of these challenges we foresaw, while others have sprung up.  We knew there would be things that would come up that we had not anticipated, so in some ways we were prepared for these challenges.  I can't go into to much detail on these as some of the information is proprietary.  One of the necessary skills for a successful entrepreneur is to be able to overcome the expected and unexpected hurdles that arise.  Being quick, nimble, and flexible allows entrepreneurs to navigate their way through the challenges of starting up.

We are somewhat limited in what we can do until the patent license is signed, but we haven't been sitting idle.  We have been talking to investors, mentors, and customers.  We've also talked to suppliers and manufacturers.  These are things that we need to do anyways so we're trying to get a jump on that so that as soon as the deal is signed we're ready to go.  Being proactive saves time and shows initiative.  It's easy to say we're waiting on this to get done or that to get done.  There are plenty of excuses, but in order to be successful you have to be resourceful and efficient.

Speaking of resources, Molly Cunningham with businessadministrationdegree.com recently wrote an article about some specialty search engines that could be helpful for any business student.  Her article is titled "30 Specialty Search Engines and Web Databases for Business Students."  Check it out, there's some good information there.