Rethinking our business model…

What if we could earn EUR 1,000 for every Trademark that is registered by offering the registrant to register their trademark in my online trademark database?

According to the European Union Intellectual Property Office 120,000 trademarks are registered by them in Europe every year. So the potential market size of this business is EUR 120 million! If I could only get a 5% market share that would mean I would have an annual revenue of EUR 6 million.

Sounds great doesn’t it?

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Since we registered Bambi Medical and Bambi-Belt as trademarks we have already received 4 “invoices” in two weeks to get my trademarks registered in very obscure databases. The fine print of these “invoices” tell me that these are actually not invoices, but offers to give me the “fantastic opportunity” to have my trademark registered. The invoice amounts range from EUR 1,000 – EUR 1,500.

I can get so angry about the fact that these businesses exist and are apparently making money, because naïve or sloppy entrepreneurs accidentally pay these invoices. I really don’t understand who the people working in such companies can live with themselves. How can you go to your workplace day in day out knowing that you are making money by exploiting weakness or gullibility of other people.

Disgusting!

Anyway, I’m glad I have shared this with you now and we are going back to our own business. It is much easier to get out of bed everyday knowing that you’re working on a product that will improve the life of pre-term babies and their parents!

We have a very exciting week coming up in which we will be testing the Bambi-Belts on ourselves using the hardware of two potential partners. These tests will show us how far we already are with the belt development and how much work still needs to be done.

The start of the week has been great as two new investors shared their commitment with us for the crowdfunding campaign and we have now almost secured the first EUR 20,000 in funding!

Next to that I continue to receive a lot of nice emails and messages through social media of people who are trying support us in all different ways. Bringing in their expertise and experience to achieve our goal!

Please keep it coming! 🙂

And for the picture of the week, please see our financial administrator (aka my mom) at work.

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Great to run a family business!

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