The current rate of innovation is astounding and exciting for all fans of technology. One specific product-type that I’ve become increasingly interested in is wearable computing devices. These products are capable of recording videos, taking pictures,  delivering content directly into a screen in front of a consumers face, all while being location-aware and personalized to the user.

If I was a betting man, I would place a big wager on the future of wearable computing devices like Google Glass and similar products. Despite countless critics dismissing it as a niche product for geeks and nerds, I take the opposing stance and believe its future more closely reflects that of mobile phones. I would argue that the value to consumers and society are largely obvious, just yet unrealized by much of the public.

However, there are significant hurdles that could prevent these innovative concepts from becoming part of our every day life. Beyond the technical challenges faced by these innovative manufacturers, I think there are some obvious and non-obvious challenges on the road ahead. The bottom line is that there are certain and very specific things that will need to occur in order for wearable computing devices to become widespread and prevalent.

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Entrepreneurs often think they are pretty smart, otherwise, they likely wouldn’t attempt to create a business through a process that is so difficult. They love technology and you build tech and web products that do really cool things. Whether you are an entrepreneur, sales guy or hacker in the tech space, you know the technology of your product and its features. The problem is that you probably often forget that your customers or users don’t understand technology nearly as much as you. To be honest, most times, they don’t care how it works. All they care about is that it works. However, this technological disconnect between you and your customers is important to understand.

In marketing, web design, sales pitches and every interaction point between your customer and the product, your customer needs to understand all the value that your product offers. Communicating the important aspects of value is important, but can be extremely difficult when dealing with very technical products. Focus on what matters and what will be easiest to persuade a potential customer convert into a paying customer. Using language that they don’t understand will not achieve this goal.

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Your closest competitor just received great exposure in a major publication and then landed $5 million in venture funding. You are probably thinking that it is time to chase the editor of a great news source then start pitching your company to venture capitalists as well. Before you go and try playing catch up with who you think is your direct competitor, pause for a moment to consider your thought process.

David Cancel wrote a truly insightful post on this very topic, where he outlines that your biggest competitor is customer apathy. It is not the company who sells the same product to your target market, it is customer apathy. Why? For many market segments, especially in this post-recession period, your customer will be making the decision of whether or not to use your product or service or nothing at all. You will be fighting harder than ever to earn their dollar. Positioning yourself against the competition is not the key.

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Because of the great success of so many internet giants like Facebook and Twitter, the door has been opened for web developers and entrepreneurs to leverage the large masses of users and data to build great products and services. Once a great internet company provides access to their platform through their open API, you can be off to the races creating the next Farmville or TweetDeck.

However, building your product or service on the platform of a bigger company has its costs and its benefits. Here is a list of risks and rewards that any entrepreneur should be aware of prior to getting the wheels rolling on a platform-dependent startup:

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If you were paying attention to tech news this week, you may have come across an interesting article in Business Insider written by Alyson Shontell. It was a brief discussion that stemmed from the final episode of Bloomberg’s ‘TechStars’ show, in which audience members (and participating entrepreneurs) appeared to show applauding support for companies that raised venture capital funding while not being as excited or supportive for companies that attained success through organic growth and funding through customer revenues. One notable tech investor and entrepreneur, Gary Vaynerchuk, pointed this out and expressed a contrasting view.

As I watched this segment, I too came to the conclusion that the tech community has this thing all wrong. We, myself included, tend to celebrate companies who receive millions of dollars in funding as if the funding is the accomplishment of a business. When companies fail to raise money or choose not but still creates a successful business, we aren’t always as excited. This is flawed logic.

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I must admit that it has been too long since I wrote my last blog post. As I have no worthy excuse, I have been busy working on some new things. This post is being written as a result of an event that I wish had not come so soon. On October 5, 2011, Steve Jobs passed away. For all of us who have ever owned an Apple product or admired one, we all understand the level of innovation that the world has lost. More so, for hopeful entrepreneurs, visionaries and CEOs, we have lost one of the greatest examples of our time.

As much as I am remembering the great contributions that Mr. Jobs provided us, I am also remembering how he demonstrated the importance of determination, hard work, big vision, appreciation of design, understanding user experience and intent, as well as creating a great product. I created this blog to share my experiences as an entrepreneur and teach all the lessons that I am learning along the way. One lesson that I have learned time and time again is to learn from smart people. Not just from people with high IQs or good grades in school, but smart people. People who understand other people. People who strive to create products that change the world. People like Steve Jobs.

One of the greatest speeches I have ever watched included Mr. Jobs at the 2005 Stanford Commencement Address. As one of millions of viewers of this video, I too have sincerely appreciated his wisdom and advice. As entrepreneurs, we all will go through the ups and downs. We will all have our struggles in our journey of building a great company. Steve Jobs did all of these things. I have included his video from the commencement speech so that you can appreciate his wisdom. Four words that he used will always stand out to me. I think it truly exemplifies what entrepreneurs must ALWAYS do in order to succeed.

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Michael Jordan and Mark Zuckerberg have a lot more in common than the fact that they both are extremely rich. Both men have found out how to utilize their talents to create consistently winning teams. The best entrepreneurs and businessmen have become experts in the art of marketing, deal-making and product development. However, athletes have also become notable for understanding particular skill-sets and actions that better position them for success. Here are five lessons that entrepreneurs can learn from athletes.

1. Compliment your competitors, while complimenting your own company even more

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Building products and services for today’s environment may allow you to build a successful company, but building products for tomorrow’s world will allow you to guide our society into a new age. As a technological society, we have evolved from the early days of content-based websites, to e-commerce businesses, to social networks. The companies who will lead the future will be those who understand what the next evolution of the web will be, how to provide the most value to users or customers, and how to monetize this process.

I came across a great video from TechCrunch with Reid Hoffman, co-founder of LinkedIn, and Tim O’Reilly, of O’Reilly Media, in which they discussed what the web’s biggest superstars may look like in the future. Based on their experience and contribution to today’s internet, I find their opinions and outlooks very insightful. This video is a must-watch for anyone who is considering being a leader in the internet space.

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If you are a startup in the technology field, you are definitely in a competitive environment. Whether you are a news blog, daily deals site, social network or mobile application, you are probably facing some tough competitors. You need to find some real qualitative differentiating factors between you and them. Game mechanics may be the solution to all of your problems.

First off, you may be immediately asking yourself, what is game mechanics? Basically, game mechanics can be briefly described as a construct of rules and ideas that allow for structured and enjoyable game play. Yes, I am sure more questions are arising. The best way to exemplify it is to look at a popular startup that is using game mechanics extremely well. A prime example is Foursquare.

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The sales process is hard. No question about it. That is why good salespeople are hard to find, and when you do find them, they require a lot of compensation or perks. For startups, paying a salesperson isn’t always a viable option. So if you are involved with a startup that already has a notable user base, consider looking for a salesperson in really unusual places, such as the list of your most passionate customers.

Besides you and your team, who knows your product inside and out? The answer is easy, the customers who use your product every day. If your product provides features or functions that solve a real and impactful need, chances are that you may have some customers who really love using your products. {If your product is in use and there is no one who loves your product, you should consider re-evaluating your business}.

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