Business Success:

Sustainable Growth

High-Growth Business Development

Inception Stage

By Vadim Kotelnikov, Inventor, Author & Founder, Ten3 BUSINESS e-COACH – Innovation Unlimited, 1000ventures.com

Start-up's success is 1% your invention, 99% your business skills.

 

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

Managing the Five Risks you face at all stages of your business development:

  1. growth risk

  2. technology & production risk

  3. marketability & competing risk

  4. financial risk

  5. team & management risk

 

2.

Inception

- 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

pp.

Problem

Solution

Action

2.1

Growth Risk

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

 

Business Plan Pro

  • Identification of the type of the new company

  • Selection of the type of entity and ownership

  • Starting the new company in an enabling environment such as business incubator

 

 

2.2

Technology & Production Risk

2.3

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

 

 

 

2.4

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)

 

  • Good understanding of the venture financing process

  • 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

Venture Financing

How to make your project attractive to investors!

 

2.5

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

 

  

 

 

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Inventor, Author & Founder – Vadim Kotelnikov

© Vadim Kotelnikov, GIVIS