Business Development: Stage-by-Stage Guide Gestation Stage Start-Up Stage Prototype Stage Roll Out Stage Rapid Growth Stage Expansion Stage Maturity Stage

Inception Stage

no product revenues and little expense history; team is incomplete; there is business plan, and the beginnings of product development

Organization: Informal

Management: Entrepreneurial

Technology: Concept

Funding Stage: Seed

 

 

 

Growth risk

 

Challenges

!!!  New business formation: move into a competitive business world requires specific type of knowledge, expertise, resources and personal business skills.

Solutions

>> Entrepreneurial simulation games

>> Right business model and a good milestone chart

Outstanding Innopreneur - Innompic Guidebook by Vadim Kotelnikov

Actions

Know 10 Keys to Success of a High-Growth Venture and 7 Routes To High Profits

Do venture planning to assess the feasibility of your venture,  describe milestones

Play entrepreneurial games, such as Innoball Innoball to test your business idea and strengthen your team, business model and entrepreneurial strategies... More

 

 

 

Financial risk

 

Challenges

!!!  Wrong mix of funds (e.g. gearing is too high due to high debt to equity ratio) 

Solutions

>> Good understanding of the venture financing process

>> Proper selection of the types of financing required for different types of activities

Actions

Understand investment criteria of venture capitalists and meet them; follow the step-by-step guide to venture financing

Select type of finance you require... More

  

 

 

Team & Management risk

 

Challenges

!!!  Constant fire fighting

Solutions

>> Development of the doer and decision maker skills

Actions

Develop your entrepreneurial attitudes, mindsets and capabilities

Play entrepreneurial simulation games such as Innoball INNOBALL to make your team much stronger    Examples... More

 

 

 

 

Start-up's success is 1% your invention and
99% your
entrepreneurial skills and drivers

 

   

 The will to win is not nearly as important as the will to prepare to win." ~ Bobby Knight

 

   

 

Problem

Solution

Action

Technology & Production Risk

Violations of intellectual property rights (IPR)

Emphasis on further research rather than business development

Protection of your IPR ‒ turning your inventions into profit-making assets

Development of the intellectual property management (IPM) system

Development of your personal and business skills

Master the 10 easy steps to turning your ideas / inventions into cash

Protect your IPR, develop IP strategies and take necessary disciplinary steps for your IPR protection

Establish a technology intelligence system

Search for patent information to identify alternative technologies and avoid possible infringement problems

Map your territory

Identify bottlenecks and pitfalls

Prepare functional and design product specifications

Learn from success stories of other entrepreneurs

Problem

Solution

Action

Marketability & Competing Risk

Overoptimistic estimates of market penetration and shares

Product design can not be tailored to the needs of real users until thorough market research has been done

Low market acceptance

Customer's resistance to change

Making classic marketing mistakes first-time entrepreneurs usually make

Understanding the market needs, discontinuities, and opportunities

Clear and realistic picture of the "package" functional product specifications

Preparation of the marketing and selling strategy

Getting above the competitors

Virtuoso Marketing

Social Media Marketing: 10 Tips

Focus on Emotional Drivers

Empathetic Marketing

Buzz Marketing

Sell Benefits

Selling Is Problem Solving

Synergistic Selling: 3 Arts

Be a great Venture Marketer

Study best new product development practices and develop your critical milestone program

Know your customer, their needs and what makes people buy; make customer assessment

Conduct market research, but don't rely on traditional market research only ‒ it can tell you what exists, not what should be or could be

Identify your differentiation and positioning strategy

Develop a prototype and beta-test / test market your product or service; identify the price at what you could sell it

Define the shape of the product to develop and its features needed to deliver benefit

Create a winning customer value proposition

Finalize or create your market niche, develop marketing strategy, and prepare a marketing plan

Create remarkable brand attributes

Conduct market oriented R&D, make a sales forecast

Be a great venture marketer market your venture to prospective partners, investors and clients

Know how to market and sell a radically innovative product

Consider growth and marketing hacks for startups

Develop your competitive strategy; benefit from your competitors; surprise to win

 

 

 

 

Launching a venture without playing Innoball
is like starting a football game naively believing that the
opposing team does not exist.

Innopreneurial simulation game "Innovation Football"
 will help you strengthen your entrepreneurial team,
business model Download PowerPoint presentation, pdf e-book and
sustainable competitive advantage Download PowerPoint presentation, pdf e-book
‒ all within few hours.  >>>

Innovation Football helps you turn your invention into a great business by inventing stronger entrepreneurial strategies, anticipating opponents' attacks, solving problems Download PowerPoint presentation, pdf e-book creatively, and ultimately building a stronger business model and competitive advantage. >>>

Innoball - Innovation Football Benefits: Stronger Competitive Advantage, Business Strategies, Business Model, Entrepreneurial Games, Strategic Simulation, Vadim Kotelnikov

Innovation Football for Staurtups, Innoball, Entrepreneurial simulation game, how to improve startup

 

  Innoball helps a venture not just succeed, but achieve much more than it was initially planned.  >>  Example 1  ‖  Example 2

 

  

 

Innompic Model for nurturing High-growth Startups