Many discussion groups on the net have rules against advertising, and Geiser has been careful not to infringe on them. However, he tacks an innocent "signature" on the end of all of his email responses that reads: "Performance General Corporation, Developers of 'Strokz' Digital Swim Stroke Analysis Watch." If he used the signature in a generic newsgroup for, say, small businesses, it would probably be ignored. But it's a tantalizing lure for swimmers, and they're biting. In fact, several responses have come from seasoned businesspeople with an interest in swimming. After many follow-up phone conversations, three of them offered seed capital as soon as Geiser is ready to take on investors.
Lesson #3: When posting messages to newsgroups and mailing lists, don't blatantly promote yourself. Respond only when you have something meaningful to say, then find a subtle way to solicit interest in your business.
Aside from discussion groups, Geiser rarely revisits most Web sites. One exception is Electronic Data Systems's Shadow Patent Office http://www.spo.eds.com , a searchable database of U.S. patents. Before paying engineers to develop his watch, Geiser made sure others hadn't already secured rights to crucial technology. He used a $70 service from the Shadow Patent Office -- which offers both free and fee-based full-text searches -- to secure the peace of mind he needed before proceeding. It's not a foolproof way to protect yourself. But it's a great way to front-end your research before paying $500 to $1,000 for a professional patent attorney to do a definitive search. Through his Web meanderings Geiser even found a patent attorney in Australia -- a triathlete -- whom he'll likely engage to do his international searches. Maybe he was lucky. Or maybe this is how the Web works.
Lesson #4: Don't expect Web-based information sources to substitute for the services of professionals. But in a startup's early stages, certain resources can expedite the hunt for critical information.
For all the information he's harvested from the net, Geiser is realistic about what he expects to accomplish. For example, he's using conventional, offline channels to contact manufacturers. However, he first plumbs the Web for everything he can find about their businesses. He's pulled up data about their distributors and competitors, and financial statements from the SEC's EDGAR database http://www.sec.gov/edgarhp.htm . To understand the economics of watchmaking, he's tracked down contacts at about 40 Asian manufacturers through one of several business directories, such as Asia Business Yellow Pages http://www.tradeasia.com/abyp . By faxing them, he's determined the range of unit and tooling costs in the industry. That's given him a basis for negotiating with target manufacturers later on.
Lesson #5: Lacking the credibility of an established organization, startups should use the Web to learn more about critical partners before approaching them. "You get only one chance once you contact them," says Geiser. "The Web has helped me avoid looking like another wild-eyed inventor."
The internet has opened up a world of contacts to Geiser. But had he not applied some real-world wisdom, they could easily have posed more trouble than opportunity. In his many conversations with manufacturers, investors, and technicians, Geiser always declines to give details related to his pending patents or other intellectual property. "I have no problem describing my product on the Net," he says. After all, you have to reveal enough to get relevant feedback. "But when people ask how it works, that's where I draw the line."
Lesson #6: When describing your unprotected (read: unpatented) invention or idea, use generic terms, speak in generalities, or make comparisons with things already on the market. Above all, use common sense. "This is not rocket science," Geiser says, "just good detective work."
Coordinates: Bill Geiser, (bgeiser@worldnet.att.net)
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