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In working closely with technology providers over the years, I regularly discover that these companies are making common mistakes that devalue the company, leave revenue on the table, or jeopardize their long-term health. So this special article identifies the top 10 of these mistakes to help you avoid making them.10. Failure to register a federal copyright for company-developed softwareYour company has spent months, and maybe years developing the next-big-thing. You’re out there licensing it to customers, fighting off competitors, and trying to maximize your revenues. What would you do if a customer was misusing your software? What if a competitor was copying parts of it to use in its product? There are various ways to respond to these problems, but one of the easiest to way to strengthen your claims is to register a copyright for the software with the United States Copyright Office. Registration provides you with an enhanced ability to have a court prevent infringing use of your software, and a greater amount of damages that are recoverable. The best part is that registration is relatively easy and inexpensive.9. Licensing technology too broadlySo you’ve landed that big deal with that big customer. You’ve carefully priced the deal based upon your expectations of how the customer is going to use your technology – by a specific group within the customer’s large organization. You’re hoping that the success of this deal will lead to a greater adoption of your technology within the rest of the company, and ultimately more revenue for you. Unfortunately, you later learn that this one group is sharing your technology throughout the rest of the company, with no additional license fees to you, and there’s nothing you can do about it. Why? By failing to carefully and narrowly draw up the license grant in your agreement, you’ve unwittingly granted the entire company the rights to use your technology, and you’ve left a pile of cash on the table.8. Failure to provide detailed support and maintenance policiesToo often, once a company’s technology is ready to be licensed, determining how to support the technology becomes an afterthought. General and non-descriptive obligations like “providing telephone and email support” and “providing updates” are invitations for disagreements and missed expectations. When is phone support being offered? How quickly will you respond to problems? What is considered and update and what is a new product for which you would charge the customer separately? Many times, you need your customer to provide you with certain information about the problem before you can diagnose and fix it. Set the appropriate expectations in your support and maintenance policies and avoid these issues in the future.7. Not contracting customers to recurring support feesCustomers want and expect that you will be there to support your product, assist with problems, and provide them updates when you add features or fix bugs. Customers also expect that you will regularly charge them for these services, so why do so many technology vendors sell a product to a customer and fail to structure regular and recurring support fees? In general, a technology vendor’s highest profit margins are realized through a support fee stream, and not in the upfront license charge.6. Inadequate non-disclosure and non-compete agreements with employees and contractorsThe technology business is one of the most competitive industries in the market. Why take a chance losing your competitive advantage by not ensuring that your intellectual property, customer lists, trade secrets, and other sensitive information are properly protected through appropriate agreements with your employees, contractors, and vendors? Finding and using some form agreement that you saw floating around on the Internet somewhere may actually make matters worse if you don’t fully understand the terms. Moreover, simple steps can be taken to ensure that anything developed by your employees is, and remains, your company’s property.5. Giving away intellectual property ownership too liberallyMany technology companies develop customized technology for their customers, or make customized modifications to their existing technology on behalf of a particular customer. And most customers argue that if they’re paying for it, they want to own it. But giving away your company’s intellectual property in these instances can prevent you from reusing it for other customers – effectively shutting down a potential source of revenue in the future. And many times, your customers may not need to actually “own” the developments – a license right can often do the trick.4. Using overly broad or subjective acceptance testingIt is not uncommon or unreasonable for customers to want to “kick the tires” of your technology before they pay for it. Problems arise when the customer has an unreasonable expectation of what the technology is supposed to achieve, and either want to withhold payment, or force you to provide extra services to meet that unreasonable expectation. This especially manifests itself when a customer includes acceptance testing language in a contract which is not tied to objective and realistic standards. Although it can be a laborious effort, taking the time to objectify these standards with the customer in the contract can save you significant time down the road, and get you paid faster.3. Offering liberal source code escrow release conditionsFor software developers, you know that your source code is the “crown jewels” of your business. It is the core of your technology, representing months or years of your blood, sweat, and tears. Yet many software companies are willing to give it away, for free, to their customers. How? By entering into a source code escrow agreement with a customer and allowing it to be released to them in situations where the code still holds value for you. Many customers will demand the source code be released to them if you stop supporting the software, but the intellectual property in the code may still be used in your other products or technology, effectively giving your customer the tools it needs to duplicate your technology. Creating very narrow and specific source code release conditions can minimize this impact.2. Undervaluing technologyWhat is your technology worth? It’s a difficult question, and value can be measured and determined in many ways. Many new technology companies feel compelled to undercharge for their technology in an effort to break into the market. Although there is certainly some merit in that, I see vendors consistently undervaluing what their technology is worth, leaving significant revenue on the table. Understanding the impact and loss to the customer if they DON’T license your technology is the first key to pricing your product. Plus, under-pricing your product can create an impression that the technology is “cheap” – not a label that will build a positive reputation of your company in the long run.1. Using a form license and/or services agreement that doesn’t fit your business modelCapturing exactly how you want to provide your product or services to your customer, allocating the risks, and creating each party’s obligations and rights, is not a simple or quick process. Replicating some other company’s form agreement not only exposes you to risks that you may not be aware of, but potentially violates the other company’s copyright in their agreement, and raises the risks outlined in the other points of this list. Having a customized agreement created for you that aligns with your business processes, mitigates your risks, and addresses the laws that apply in your jurisdiction for your industry is a key component in running a successful technology business.

Seeking success, companies spend millions on fine-tuning their corporate message, but often fail to train the messengers who deliver it. Business Growth Consultant, Eva Jenkins explores how effective communication bridges the gap between corporate intention and employee action.You can get an education, work hard, and dress for success, but without carefully cultivated ‘people skills,’ it’s unlikely that you’ll get very far in business…or in life for that matter! Professional success depends primarily on human relations skills, including effective communications. Many times, it is a superior skill in communication that propels careers, boosts productivity and ensures customer satisfaction.Communication – the ability to be heard and understood by listeners — affects the outcome of relationships, products and systems within a corporate structure. It’s the mortar that ensures that every brick is in place as a company grows and expands…the ‘essence’ of a firm foundation. This important skill set has seismic impact on organizations, and yet the pronouncements of the bean counters – financial officers, analysts, and the people on “The Street,” — have resulted in communications training being demoted to the bottom of the balance sheet.Can You Communicate?Communication – the ability to be heard and understood by listeners — affects the outcome of relationships, products and systems within a corporate structure.In A Guide to for the Perplexed, E.F. Schumacher wrote, “We tend to see ourselves primarily in the light of our intentions, which are invisible to others, while we see others mainly in light of their actions, which are invisible to us; we have a situation in which misunderstanding and injustice are the order of day.” It’s easy to translate this thought into the world of business. Without clear communication, a corporate environment becomes a swirling vortex of “Why didn’t you do what I told you?” and “You never told me to do that.”Finger-pointing and blame-shifting break down individuals and destroy any sense of team or unity.Once Is NOT EnoughDespite the fact that communication of company goals and processes is essential to success at every level of business, ineffectual leaders allow daily activities and tasks, as well as unexpected distractions to sidetrack communications. Convinced that ‘once is enough’ when information has been conveyed, many managers allow any distraction as an excuse to put regularly scheduled communication on the back burner.However, while managers busy themselves putting out small ‘fires,’ they fail to realize that inferno misinformation and employee dissatisfaction threatens to engulf the company.Great ExpectationsA key element in leadership is the ability to give clear and accurate directions when setting expectations. This sounds easier than it is. We often think others understand us better than they do. Bad leaders believe their message has been heard and processed by employees, so they don’t bother to confirm that with the employees themselves.Communication doesn’t end when you finish delivering your message!American businesses spend hundreds of thousands of dollars sending employees to training classes and still find their companies failing miserably. The ‘students’ may learn skills and ideas, but their ability to put their knowledge to work and communicate what they’ve learned to their staff and supervisors is never addressed. How come? If communications is key, why do employers fail to foster the essential skill that can inoculate a business from a wide range of problems?Let’s talk about that!Losing FocusManagement training programs do focus on communications, exploring the different types of communications and the wide variety of communications media. Their message to the managers is a good one: “Create a climate of open communication to increase your team members’ motivation, commitment, and productivity.”Intellectually, the communication training programs that are out there…many of them are very good…have hit the nail on the head. Practically speaking, however, they fall short. Why? Because there is no follow up! The focus on communication is lost once the training session ends.In nine cases out of ten, you’ll find no real accountability built into the administration and ROI of training programs. Training is delivered to a select few in organizations large and small. There is very little follow-through from HR or Training and Development or outside Consultants to see how well the participants able to incorporate various soft skills or have they been able change their own behaviors.The answer is that H/R and training functions should include ongoing follow-up throughout the entire year. There should be a continuous effort to gather statistical information from participating departments as well as feedback and commentary from managers and workers. Reviewing the numbers and feedback one month after training, three months, six month and a year later is critical to enable the ROI of training. If managers do not want to cooperate, make them. Get it done!Without follow up, an analysis of the training and its effectiveness is impossible.The Blame GameWhen companies fail, it is likely to be because of a breakdown in communications, concern about reprisals, political silos, and a lack of accountability. All these things create a fear-based environment that inevitably leads to a lot of defensive posturing. Everyone blames someone else: managers blame staff, staffers indict managers, and everyone gets on the bandwagon to point a finger at ‘useless’ training. Since no one wants to take responsibility for a communications failure, everyone gets bogged down in their own inadequate internal processes. This is true at every level of corporate life, including the halls of senior management, management, H/R and T&D. Many of today’s leaders are so focused on positioning ‘someone else’ to take the blame for a mistake that they fail to identify the real cause. This, of course, makes it impossible for problems to be corrected and a company ends in and ruins.In large corporations, particularly Federal contractors, training is seldom included as a line item in a division’s budget because clients do not want to pay for communications training. And they shouldn’t. Companies, themselves, should budget for communications training as a cost of doing business. In the long term, this short-term investment in will pay off with improved communications throughout the company and with all clients, as well as with improved productivity and increased profitability.Despite its proven hard-dollar rewards, communications training continues to be a second-class citizen in corporate life. Instead of a self-protective stance, “I won’t get my next promotion if I spend money on training,” division heads should be thinking proactively: “A financial investment in training and good communications will ensure that my department is profitable. Managers need to realize that they are the winners if they can keep track, and show how well they are able to develop their own people, and create a more efficient and successful team.The ability to communicate effectively needs to be measured and monitored on a continuous basis. Organizations change, people come and go, and a variety of internal and external forces can affect a company’s ability to function well. To keep up with change — and hopefully stay ahead of it — internal processes, performance management reviews, reporting structures, and the like should all be consistently reviewed and monitored.Communication starts at the top. Leaders, themselves, must then have the skill to communicate clearly so that superiors and subordinates alike follow their lead. CEO’s, directors, managers, and department heads must understand its value and make it a priority in all exchanges – verbal, written, etc.A Commitment to CommunicationsEffective communications has a positive effect on employees and the corporate bottom line. CEO’s who understand the significance of having and promoting open, clear communications are better positioned to create successful organizations at every level. These CEO’s hold their direct leadership accountable to make sure the company’s DNA reflects a commitment to communication.Managers who communicate well and foster good communications in others create an environment where people enjoy their work and produce more. In turn, those happy, productive employees drive a grassroots effort where internal referrals power the recruiting processes, cutting down the time and money lost to hiring and training.A high level of production, low levels of employee churn, and bigger profits as the end result. This is a winning ‘trifecta’ for any business.

I once read that NOW is always the toughest time to find the best investment opportunities, and that sometimes it is anything but easy to make money investing. Now is 2015, and once again investment opportunities are out there if we can only find them. Where might we make money investing in 2015, 2016 and beyond?People tend to throw the words “opportunity” and “opportunities” around a lot, especially when they are trying to sell you something (like swamp land or desert properties). For example, “the opportunity of a lifetime” or “one of the best investment opportunities I’ve ever seen”. We all learn sooner or later that real opportunities are the exception; and not the normal occurrence. Let us keep this in mind as we try to find ways to make money investing in 2015, 2016 and beyond.If you have a brokerage account with a discount broker the world of investment opportunities is available to you at a cost of about $10 a trade. In one account you can make money investing by making a bet on stocks, bonds, interest rates, commodities; and in a wide array of markets, both domestic and abroad. Your broker’s website should offer lots of information to sift through, but it won’t tell you where the best investment opportunities will be in 2015, 2016 and beyond.Here’s a good way to look at things: now is always a good time to look for the best investment opportunities, but it may not be an easy time to make money investing. For example, natural gas might look cheap, but it has been going down in price for several years. Interest rates are near all-time lows, but this has also been the case for years. On the other hand, stock market volatility has fallen as stock prices continued to rise. Stocks in general are now quite expensive, and super-low interest rates have made bonds expensive by historical standards.No matter what happens in the markets in the next couple of years, many of the best investment opportunities are available to average investors in the form of ETFs (exchange traded funds) which trade as stocks. If you don’t have a brokerage account go to a financial website like Yahoo Finance and sift through the ETF performance section… looking for the best and worst performers for various time periods. You’ll be surprised by the wide array of opportunities available. Now, you must decide how you want to try to make money investing in them.Let’s look at a couple of extreme examples you could find in early 2015. The best performer over the past 3 years (up 94%) was a Leveraged Equity fund that invests in healthcare stocks with 3x leverage. It was also up 20% in the last 3-month period. The worst performer was a 2x leveraged volatility fund, which was down 90% over the past 3 years and also down 15% over the last 3-month period. Other big losers included: gold stock funds and leveraged inverse equity (stock) funds. The real question is: do you jump on the big winners to make money investing? Or, will the big losers be the best investment opportunities for 2015, 2016 and beyond?Here’s a real extreme example from early 2015. The best investment over the last 3-month period was a 3x LEVERAGED INVERSE CRUDE OIL ETF. It went up 285% (in 3 months). What’s that? INVERSE means that as the price of oil FALLS, the share price of this fund goes UP; and 3x LEVERAGED means it is designed to go up 3 times as much (on a percentage basis) as the drop in oil price. This was one of the very best investment opportunities in the months leading up to 2015, because oil prices then started to fall like a rock. But after a gain like that, it’s probably no longer the best investment if you want to make money in 2015 and beyond. This was yesterday’s opportunity.On the other hand, there’s always the possibility that oil prices will rebound strongly in 2015, 2016, or later. If and when this happens, some of the best investment opportunities will likely be found in oil and other energy stocks (or ETFs) that fell in line with the previous drop in oil prices. Timing and anticipation are the keys to finding the best investment opportunities. You can make money investing by jumping on current winners, but the best investment opportunities are often found when a change in price trend begins.