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Looking for a CEO partnership?

My company is a new patented product for the music industry. I've put a great deal of work into it. At this point I feel I need to bring a person on with experience/contacts in this, or similar markets, to push it fully up. What are my options - CEO.. investment partner? Where is the best place to look/find this person?

15 Replies

Charley Hoefer
1
0
Charley Hoefer Advisor
Entrepreneur/Intrapreneur
Hi Teddy - I've been around the music business and know of significant/senior people that might consider helping? Bigger questions in the business, and to consider are around the patent. What's the application and what's it truly worth? Believe it or not, patents can be worth a lot or absolutely nothing. That current philosophy - the value for patents in/around music (especially), and other new tech apps is a double sided debate these days. But hey, I have no context to base my conclusion on, so I apologize for sounding the alarm. What you have worked hard to accomplish could be totally defensible.

The bigger question is can you afford to defend the patent, and would you defend? Most entrepreneurs rest too heavily on the patent and not nearly enough on how defensible it is, or if they could even afford to defend it.

Happy to listen, learn and offer my help if interested? I have quite a few good friends in the business and most are career entrepreneurs who have succeeded and failed forward. If they can be of help then I'm happy to connect you.



Paul Loeb
1
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Paul Loeb Entrepreneur • Advisor
Founder, DropTrack
What is the product?
Mike Broggie
0
0
Mike Broggie Advisor
Marketing Strategist | Business Development Consultant | Startup Advisor
Check Founderdating.com, Teddy. Mike Broggie/Mobile +1 [removed to protect privacy] Skype: mbroggie
John van der Linden
1
0
John van der Linden Entrepreneur
Fabric & Home Care Global Open Innovation Manager at Procter & Gamble
Teddy, Thank you for reaching out. I would step back if I was you and try to define what the 3 things are that 'need to be true' for you product to be successful. It could be 2 more IT breakthroughs, it could be the actual business model or maybe it has something specifically to do with music. Only once you are clear on where the real challenges are, you can then plot this vs. the skills you have, and therefore also see where the outages are - which probably then define the skills that you want to bring in. Obviously this means that you future 'partner' will have a different skill set from you and you'll have to work with that diversity a but it does make 1+1>2.... Good luck ! John
Jennifer Anderson
1
0
Director, New Consumer Products at Lending Club
Hi Teddy, I have a family member that might be a good partner/advisor for you. PM me on LinkedIn if interested as I'd like to learn more. He is a vet of the industry and was CFO at Polygram, Def Jam + other music companies. Super well connected and an extremely standup guy. Might be a great fit.
Neil Licht - HereWeAre
2
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Want To find-close Business Online without competition Before They Google Search? We solve this problem 1(508)-481-8567
RE: "I feel I need to bring a person on with experience/contacts in this, or similar markets, to push it fully up. What are my options - CEO.. investment partner? Where is the best place to look/find this person?"

I looked at your axe hugger web page and have gotten a feel for what you do as a company.

Teddy, What seems like a great idea or product in your judgement or in the judgement of friends or a few people you know in the target audiences as a great market is not the same thing as actually knowing something is a worthwhile, real, widely needed,prospect rich market willing to spend cash for your product.

I'd suggest a few questions to ask yourself before you go any further with fleshing out and or staffing for this venture:

1. How do you know and have validated that this is considered an issue by guitar players?
2. How is this instrument protection being done by your target audience right now and do they consider it a problem or issue needing to be addressed?
3. How do you know they would willingly "switch" to your solution and part with cash to buy the product v what they now do would they deem it worth the expense/cost and buy? If so,at what cash price?
4. How many of those real potential buyers as described above, the folks who will actually spend for your product actually exist?
5. How do you find them, reach them and get them to buy?
6. What are the alternative ways to accomplishing the same thing as you do?
7. Although your are patenting this, Its hard to believe that something "similar" is not already out there and going after the same instrument protection market you want to garner so, Whats your competition look like, what do they offer / do v yours and how do they do it, plus what's their market share?
8. What's the valued differentiator that you know will create notice of your product and create a desire to purchase it by enough people in large enough numbers so the venture makes economic sense?

Ted, I'd suggest answering those questions with brutal honesty before you go any further or invest more time/money and definitely before you go looking for a CEO/Partner.

Ricardo Haas-Rivera
1
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Ricardo Haas-Rivera Entrepreneur
Student at Innovation Programs | CEDIM
Hi, Teddy.

What is the product? Where is the company based at? Are you looking for someone from a specific geographic area/country?

(And also add Neil Licht's questions, too).

Best regards.


Jonathon OBryan
1
0
Jonathon OBryan Entrepreneur
Founder of The SmartSheet
Teddy, contact me on LinkedIn, I have the perfect person for what you seek...

Jonathon OBryan

You may have to send me an invite, so we can talk privately... Metallica, Eddie Money, Blondie, amongst a host of other pop name musicians have been created by this gentleman, including Bobby Brown... Everything from Rock to Rap... Look forward to your call...
Faisal Memon
1
0
Faisal Memon Entrepreneur
iOS Department Technical Lead at Citrix ShareFile Quick Edit
Teddy,

This is how is see it (if I present it wrong please correct it as I am not a musician):

1) Guitar owners care a lot about their guitars, the quality of them and caring for them properly, because the value the guitar gives to a music lover is both emotional and tangible.

2) Your company make a guitar stand that stops discolouration of the guitar lacquer which is an important aesthetic aspect of the guitar.

3) Real world customers care about this problem, and pay for solutions to it. An simple google search shows:

http://forum.gibson.com/index.php?/topic/55864-guitar-stands-and-finish-problem/


So assuming your product works, you have something of value customers are willing to pay for. Your competitors are alternative guitar stands (e.g. wood) and finish touch-up creams.

Therefore, you should socialise the venture amongst people in the business side of the music industry. You can find people who have made musical accessories and just call them up or look them up. Eg. custom guitar stand people.

From there you can work out a plan for partnership depending on how you feel about them as a business partner or co-founder. You can also work out how much money is need for a small production run and identify specialist music shops that would carry the product.

From there you have a handle on how much cash you need either from yourselves or an angel investor to get the first batch of paying customers.

After that, you have real leverage to see bigger markets, expand the product and get series A funding to really ramp up.

If you want to chat more, feel free to look me up on Linked In. However, given the contacts referenced earlier, try them first for an in-industry perspective.

I wish you the best of success.
faz.
Neil Licht - HereWeAre
0
0
Want To find-close Business Online without competition Before They Google Search? We solve this problem 1(508)-481-8567
Faisal, You and I seem to agree on some of the steps that Freddy should take now at this point to validate the product and then to open up possible ways of selling through already established and respected names in the Guitar industry.

Unfortunately, The link did not open so I could not see if it numerically affirmed a target audience large enough and willing to spend cash for the product Teddy is asking about. That is still important to validate whether he goes it alone or tries to create the partnerships/distribution alliances that you suggest. He needs to in command of that if he goes his own way or if he tries what you suggest re partnering, be very convincing with the real world facts that say "WOW-Great real opportunity in the target audience market".

The partnering with existing guitar manufacturers is a great idea but not until the patent is firmly in hand. Also, guitar manufacturers may not want to venture into the product area that Teddy is proposing but they may like the idea of joint venturing as distributors if they dont want to private label or manufacture on their own.

Teddy - are you already in the music industry and thus "a member of the family who speaks the language so to speak? Thatsa credible and powerful understanding that potential partners such as Faisal is suggesting are courted.

Also, are you a sales and or marketing experienced type or a manufacturing type? Those skills would seem to be important even more so right now than a co-CEO. I'm thinking that the type of suggestions you are getting may be best managed and explored plus initiated, implemented by someone who has the sales/marketing experience if you do not and perhaps that'swho you hire or contract next to research and validate what I suggested and to go after the partnering that Faisal suggested.
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