FAQ's
Why Entrepreneurs?
Entrepreneurs (including engineers, researchers, and scientists), force your company to look at the development of future products, and if you own the future products in your marketplace, you’ve won the battle for the products of the future! Entrepreneurs, motivated for their own personal reasons, get the greatest technological development and support that they’ve ever had (virtually ‘turnkey’). In addition, The Entrepreneurs’ Mall®, Inc., intends to sell patents, teach all about the latest technologies through customer product interaction and displays, and promote new discoveries to enhance perpetual innovation.
Why a Mall?
The Entrepreneurs’ Mall® is a community of technically knowledgeable personnel all focused on products of the future and solving the most difficult problems the world has. This creates certain efficiencies never available before such as 1-stop corporate shoppers, mega-project customers, and massive product training capabilities shared with other mall lessees. We most efficiently address the needs of entrepreneurs, and give them the opportunity to achieve the American Dream, all while in effect becoming the world’s first Perpetual Innovation Economic Development Engine thereby generating more manufacturing jobs than the US had at its post war peak.
The mall format allows the casual interactions essential to innovation. FYI, the retail mall from 1940 to 1990 grew its retail market share from 0% to 50%. The Entrepreneurs’ Mall® is far superior, however. This is because it’s based upon technology and The Law of Accelerating Returns applies to it. All companies are incorporating more technology than they ever have before, and they will continue to do so at an accelerating pace.
How long will it take before this bee-hive of activity impacts our bottom line?
Because you’ve done your own calculations using your numbers, once you have your lease, you know your company is getting a goldmine in value. But the question remains, how soon will it impact your bottom line? The mall will take 2 years to build, assuming we get the necessary approvals. We plan on simultaneously submitting for multiple sites, just in case there are any unforeseen delays.
The bigger issue here is how fast we penetrate the US marketplace, and to speed things up, we really need your help. Publicize us, virally share our website, like us on Facebook. Reference us to the politicians because we are the only perpetual innovation, economic development engine on the planet. Put us in your public relations releases because your company is a key part of a project which enables entrepreneurs to achieve the American Dream. Pass our name on to Venture Capitalists too, because money is the fuel of businesses. (Speaking of which, don’t forget that companies willing to front their first year’s lease or invest, will be given preferential treatment over companies who even have signed up before them because we need money to fund operations and deliver to customers what we’re promising them.)
On day one, after the mall is built, the impact to your sales department from the tremendous amount of customer service you’re giving you local customers will be large, immediate, and major just from being able to put on product training sessions for hundreds of customers at once. The best person to estimate the value to your company’s sales is your VP of sales.
The impact to your company from the one-stop corporate shoppers is probably the slowest. Like retail malls, customers will determine the image they have of your company from what they see in the mall. I expect this aspect of your sales growth will be the slowest, but yet steady and very powerful. Like retail malls, it ultimately will result in the strongest companies in your market wanting to lease mall space, but suffering from the fact that you’re there first. Maybe a 1% increase in sales a year for one-stop corporate shoppers is far too conservative because we’re dealing in the fast changing world of technology.
The impact to your company from entrepreneurs is going to be enormous, but from two perspectives. First, growth in Original Equipment Manufacturers (OEMs) for your company’s product to be incorporated into. Second, from entrepreneurs willing to sell you their patents, providing you with a potential pipeline of products for the future of your company. Third, the entrepreneurs will push your company’s technological capabilities, making your company better and better.
The impact to your company from mega-projects is unpredictable, and at the same time enormous. But there isn’t another place on the planet they can go to get so much help under one roof.
How big of a bottom line plus will it be?
Enormous, just do the calculations using your own numbers to find out.
What will the cost of our store build-out be?
Your store is staffed by sales engineers who are technically knowledgeable about your product line. They typically need desks, your catalog, literature, lighting, chairs, computers, and related items. Your store look should be created by your marketing people, and they’ll work on the overall environment including colors, layout, your company name and logo, etc. You may wish to consult with an architect to create a more interesting space. You’re interacting with your customers in here and want the experience to be optimal, but interesting to your customers.
You’re going to be given the store in Gray Box condition. You’ll be responsible for bringing in all your utilities.
I recommend technological displays customers can put their hands on which demonstrate your product because people learn faster this way. Also, a picture presentation of your capabilities, because its faster in presentations than having customers read through detailed blue prints.
Ultimately the cost depends on your choices, including how big of a store you need, etc. Have your architect draw up your space, and then it’ll be up to you, and your marketing and sales departments to arrive at the ‘look’.
What do we want our store to look like?
Let your marketing department decide this in consultation with you and your sales personnel who’ll be staffing it.
How many regions you want to dominate, and how soon?
This is truly a blockbuster. You’re taking a sledgehammer to your competition, one region at a time. How many locations do you want to dominate?
Should we lease the first mall, and offer to purchase the right of first refusal on the second and third sites?
For a limited time, I'm offering those who lease, for no cost, first preference for additional sites, and this wording will be put into your leasing contract; but, this is a limited time offer. So there's no need, right now, to talk about The Right of First Refusal.
How many people will innovate with your product?
I just don’t know. But I can guarantee this: many more people will innovate with your products in the Entrepreneurs’ Mall® than they will with your competitors, because we’re marketing to bring the entrepreneurs and creative types in!
Do Companies Have the Budget to Lease Space and Market Through The Entrepreneurs’ Mall®?
Yes, and let me add that you're not just getting a package of major new marketing channels, the R&D our lessees get is for FREE, until they’re ready to pick and choose the entrepreneurial products they like!
You can google this (you might try searching for “what percentage of sales do companies spend on marketing”), with different solutions for different companies, but a general rule of thumb in marketing is between 1-10% of revenues, and B2B companies average about 10%. But if you’re only seeing the marketing part, you’re not adding in the perpetual innovation part coming from entrepreneurs.
The real question is comparing B2B marketing AND R&D spending dollar-for-dollar can you get a better combined marketing and R&D return ANYWHERE else? I’m sure the answer is ‘No’, but let me explain why.
The cost of leasing mall space doesn’t just provide new marketing channels (store branding, massive customer training and education, one-on-one servicing better than ever before, etc.), but added value comes back to your leasing company from entrepreneurs who may be new OEMs for you, or who may identify entirely new markets for you and offer to sell you their patent. In fact, when you add together the three multi-TRILLION dollar markets we’re addressing for the first time, leasing space is a ‘no-brainer’.
While you’re pondering the dollar-for-dollar question I asked above, just consider that older companies are adding to innovation by increasing their staff sizes and overhead costs, while you’re plugging into the supercharged entrepreneurs coming through the Entrepreneurs’ Mall® and only paying per item (a la carte). If you own the products of your market share’s future, you own your market’s future, right?
Just to completely answer your question though, you can add to the marketing budget estimates for companies of between 1-10% of revenues to the revenue percentage of global R&D by industry in 2015 according to The Statistics Portal (https://www.statista.com/statistics/270233/percentage-of-global-rundd-spending-by-industry/) is:
- Computing and Electronics: 24.5%
- Healthcare: 21.3%
- Auto: 16.1%
- Software and Internet: 11.2%
- Industrials: 11.1%
- Chemical and Energy: 6.2%
- Aerospace and Defense: 3.3%
- Consumer: 3%
- Telecom: 1.8%
- Other: 1.5%
How Long Will It Take for the Mall(s) to Sell Out?
Good question. This is a national sales campaign, so we’re recruiting lessees from everywhere. It depends upon how long our sales force takes promoting this new combination perpetual innovation process / marketing strategy.
Although The Entrepreneurs’ Mall® is a new B2B marketing method and it’s energized for the first time by perpetual innovation, no one knows about it. The calculations are not just correct, they’re very compelling and powerful, and this indicates that people will know about us soon enough. Just look at the number of new marketing channels it opens up to companies, and the new types of experiences B2B customers can now have interacting with it. And there’s no question that the future of this concept is very bright because technology keeps getting more and more complex. Companies will be signed up on a first-come, first-serve basis, but with preference given to companies who are willing to front their first year’s lease and/or invest, over companies in the same NAICS market (industry category) who have signed up before them.
Once This Mall is Functional, How Fast Will My Market Share Rise?
Good question. This is a new concept, and there’s just no data for it. I just don’t know, but follow me for a second here for an in depth discussion on what I foresee.
We’re talking about 3 huge markets, all being introduced together and for the first time. I have no doubt about two: The Entrepreneurs will be pouring into the mall because there is no other place addressing their needs (I can do a simple demonstration to show you how enormous this market is), and I firmly believe this will be much bigger and longer a fad than Beatlemania, because they are pursuing the American Dream. Some will be doing it to pursue personal projects, and others will be doing it for their jobs.
Those who are doing it for their jobs, will share their experience with people who they work with and word will spread. This will lead to the second market: corporate shopping. The Entrepreneurs’ Mall® will become a staple of corporate resourcing because it’s so efficient, and it greatly increases the size of qualified technical staff from diverse backgrounds, all in one place, ready to take on any technological challenge presented to it. Corporate shoppers will also be coming in for the free and massive product training sessions which could include dozens of the products local manufacturers / institutions use. Again, it’s a no-brainer that corporate accounts will come in for the free training from potentially several, if not dozens of their suppliers.
Also the mall will feature state-of-the-art products, patents for sale, and new discoveries potentially directly effecting their market share, so corporate shopping doesn’t just make sense, it’s vitally important because technology hasn’t just humbled countless market leaders, it’s brought countless political regimes to humility.
As more and more companies experience the power of one-stop mall technical personnel efficiency, with their insatiable demand for technology, mall traffic will continue to grow, and so will the number of mall lessees.
At some critical point, the number and types of lessees will reach sufficient mass so that it becomes efficient for mega-project shoppers to come in and get product training, and / or for technological resourcing. This is when the magic of the mall truly kicks in. And surprise, a new market emerges. There’s also a fourth, ’mini-mega-project’ (very complicated) market segment (market size unknown, but I believe it too is vast).
Shaving 5% off of a mega-project, saves the project five Billion dollars, and isn’t it better to consider more technological solutions than just the ones the mega-project team suggests? And what about the added value of one-stop, incredible technical product training?
Are You a Manufacturer Still Wondering When Technology Will Disrupt Your Market Share?
Yes, The Entrepreneurs' Mall® represents a revolution in the way B2B business is conducted, and I know you're wondering how fast this change can occur. But if you think your company will not be disrupted, just think about this for a second. This is the first time your manufacturing firm has faced the power of perpetual innovation, don't underestimate it. We already know that innovation comes from everywhere. This is the first time a business model this powerful has ever been introduced to your industry. Your customers will undertand the value it presents to them even if you don't. We're talking about the Law of Accelerating Returns, you know we're moving to the right just like I do, and I'd just like to make sure that you've noticed that innovation, and the amount of new information / data available to us is unquestionably accelerating exponentially. Also, the more technical experts you have at you fingertips (for free!), means the more ideas participating in product solutions, means the more alternatives you have, means the greater the value of this mall is to you, and it's a one-stop shopping experience. And especially don't underestimate the dogged determination of the innovating entrepreneurs.
By the way, retailers, historically have been much further to the left on the Law of Accelerating Returns than manufacturers. Yet today, you’re witnessing Amazon using new technology to crush their competition. Perhaps even more urgently companies to the far left on the Law of Accelerating Returns need The Entrepreneurs' Mall® because one technology, in this case the Internet, can cause them to topple.
I can’t give you a firm answer on when your industry will be disrupted, but I can lease space on the front lines of innovation for you, in a perpetual innovation facility, so that you can have first pick / exposure to the entrepreneurs and potential new products for your industry - but no one can tell you when that idea will arrive. Why not be best prepared?
What Effect Will the Entrepreneurs' Mall® Have on Faster Changing Technological Markets Like Computer Technology and High Technology?
The Entrepreneurs' Mall® is a public open-sourced, perpetual innovation facility -- AND it's supercharged with entrepreneurs' ideas, because it's the world's first facility designed to give them turnkey support! You're getting the most motivated and driven innovators interacting with your product(s). It's the first facility of its kind, and a brand new NAICS category which I'd like to coin as Perpetual Innovation. Innovation is at the heart of what we do.
Innovation is the driver for the economic development engine which creates jobs and enriches entrepreneurs. The mall itself is a catalyst for innovation, and a new marketing platform (others include internet marketing, TV, direct sales marketing, and trade shows, etc.) for lessees to interact with their customers, and bring in new ideas. This results in a massive increase in innovative ideas, for relatively little, or possibly even no cost, and it allows lessees to massively train their potential customers on new technologies, better than ever before. All of which results in a constant, fresh, buffet of innovative ideas for you, for the cost of a tax deductible lease, and drives your company to powerful regional and/or national and international market share increases, while your competitors watch.
Unquestionably, the more technologically dependent your company and it's markets are, the more you'll need The Entrepreneurs' Mall®!
Could This Concept Use a Re-purposed Shopping Mall Instead of a New Build?
Yes, it can. Reasons for this might include possible cost-effectiveness, speed, and/or location. From the mall owner's perspective, they get: new upper-class, high spending markets (B2B, entrepreneurs, and corporate shoppers), the insatiable demand for technology and the necessary training (perpetual innovation is a constant population draw), and the global uniqueness of this concept because it's also the world's first economic development engine. Basically, this real estate could become the new center of commerce for every region we locate in.
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