Today I advised a new client via email on IT commercialisation for a software program. The client is an individual and his core business is not software development. His program is useful for management of technology used in the live events sector, eg theatre and concerts.
Here’s my email reply to him focusing on practical considerations for making money from software or IT commercialisation. I’ve extracted confidential information and added a bit more information to clarify the circumstances.
Importantly, the new client’s email request was for a mix of both business know-how and legal assistance.
|Dear [Name Deleted]
You’ve given me quite a bit of information already and I’ll take it that all of it is “stable state”, ie cast in concrete and not likely to change. If and when it does change then what is said below will need adaptation.
I’ll focus on issues. There are already some obvious strengths in the situation, eg your experience and career in the live events sector and the apparent fact that the program saves time (hence money).
The world is awash with software, so you have to be good to get noticed, let alone make any money from it.
As your hope is to sell out to others fairly early, the first thing to do is to get clarity as to such things as:
Getting early customer adopters is often critical, especially for a micro business or start-up like yours. So where is the software already being used. How can we get other users, even if it be on a concessional financial basis?
Following on from that last question, there is a practical issue of how people might buy, ie queries about their buying pattern:
As regards intellectual property, contracts and business structuring:
For my attached lengthy invention commercialisation questionnaire, you can fill it in and email it back to me for further feedback. There are many further questions and a process of due diligence to go through, but we can leave both till later.
You suggested a face to face chat. That would be fine. However in these situations I always prefer to read text first. Give me good text! If you do that then in response, depending on what is indicated in the details, I might efficiently make a costed proposal for the way forward. I look forward to your response.
Notes on photos
The above photos are personal illustrations of non-IT commercialisation projects. They illustrate successful entertainment or leisure sector commercialisation.
- The first photo is of Bob Dylan’s Freewheelin’ (1964) album. I discovered it when I was 15 years of age. Kudos to Dylan and his manager, Albert Grossman, for commercialisation of it. From this album Dylan never looked back.
- Bernardo Bertolucci’s film, The Conformist (1970), for me is a model film. I’ve watched it about 10 times, even on a TV which had no vision. The soundtrack is voluptuous. Kudos to Bertolucci and his cinematographer Vittorio Storaro. They found an audio-visual style to realise Alberto Moravia novel of the same name. Going off memory, to quote film critic, David Stratton, the film’s style “… launched a thousand vodka advertisements.” Hence – novel inspires film, and film inspires advertising.
- Then finally there is Finger Wharf (1915) or Woolloomooloo Wharf at Woolloomooloo Bay in Sydney. It’s a marvellous place. Kudos to the union movement for the Green Ban it placed on it to preserve it, and kudos to the re-developer who re-invented the wharf as an attractive mixed residential, hotel and restaurant hot spot.