Vadim Kotelnikov    

High-Growth Business Development

Startup: Inception Stage

   

Business e-Coach  Perconal Icon of Vadim Kotelnikov  Kore 10 Tips


 

 

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

Manage the Five Risks:

growth risk

technology & production risk

marketability & competing risk

financial risk

team & management risk

 

Problem

Solution

Action

Growth Risk

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

8 Key Entrepreneurial Questions

Play entrepreneurial simulation games

Identify the type of the new company

Select the type of entity and ownership

Start the new company in an enabling environment such as business incubator

Discover Opportunities

Do venture planning to assess the feasibility of your venture and compare various business models

Learn how to succeed in business; 7 Routes To High Profits

Play entrepreneurial games, such as Innovation Football and Innovation Chess; use Kore 10 Innovative Thinking Tools to test your business idea and strengthen your team, business model and business strategies

Develop your competitive and differentiation strategy and a strategy map

Avoid the 10 deadly small business mistakes; be aware of the deal-killer entrepreneurial personality traits

Prepare a focused  and scalable business plan that provides clear direction  >>>

Make a Strength Weaknesses Opportunities Threats (SWOT) analysis

Do business, cash and technology forecasting

Take outside professional advice and services

Study and employment and regulatory requirements

Select legal structure of your new company

Study startup company intellectual property (IP) strategies. Register your trademark - the legal protection for your company, your business name, your brand, and your domain name

Explore opportunities for starting up your business in an enabling environment such as a technology business incubator or S&T park

Start developing strategic alliances

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 schedule, define and describe milestones

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

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 creater your market niche, develop marketing strategy, and prepare a marketing plan

Conduct market oriented R&D, make a sales forecast

Market your venture to prospective partners, investors and clients

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

Problem

Solution

Action

Financial Risk

Insufficient funds or access to top-up finance

Need to address basic capital and cash-flow issues

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

3Ws of Venture Investing

Good understanding of the venture financing process and

Prepare the key documents for venture capital investors

Selection of the types of financing required for different types of activities

Identification of possible sources of seed capital: bootstrapping, business angels, venture capital funds, development funds

Good understanding of the investment opportunity selection criteria of different types of investors

7 Routes To High Profits

Revenue Model

Internet Revenue Models

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

Study the start-up capital formation process, venture capital basics, and the guidelines for getting funding in today's market

Make financial assessment

Explore alternatives to VC financing and try to personally finance and bootstrap your firm as long as possible, until the need for external growth finance becomes evident and unavoidable.

Select type of finance you require

Search for angel investors and other sources of seed capital and study their investment evaluation criteria and procedures

Prepare a milestone chart and cash flow forecast

Build up a management team

Understand how investors read a business plan and their start-up business valuation principles

Study typical terms of stock issued to venture capitalists, and how to structure the deal; develop option for investors for realizing their financial returns and possible exit strategies

Prepare a start-up business plan

Prepare project presentation and present it to prospective investors

Negotiatie the agreement with investors; take a professional help to structure the deal

Make the best of the venture capital obtained

Problem

Solution

Action

Team & Management Risk

Not enough time

Can't do everything

Constant fire fighting

Opportunity overload

Development of the doer and decision maker skills

Selection of the best management support system at lowest cost

 

Entrepreneurial Leader

9 Roles of a Team Leader

Leader-Manager Synergy

Winning Team: 7 Elements

Develop yourself to achieve extraordinary results

Develop your entrepreneurial attitudes, mindsets and capabilities

Develop your competing skills

Learn venture management and corporate management principles and develop your own unique model

Build an innovation-friendly organization

Launch a crusade

Do it yourself

Respond to every opportunity

Fight fires

Hire best people to make your vision a reality

    

 
   

 

 
     

Vadim Kotelnikov, founder of 1000ventures - personal logo Coaching by Example

     

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