The business is recently founded and the imperative is to specify/make the product (concept), prepare a business plan, get market feedback and peer advice , find and access production capacity and fund this product concept validation stage from own resources, credit cards, potential customers and earnings from related/previous work capabilities
If you believe your company or business is at this stage you may find some very helpful articles and videos with all sorts of advice in the Start Up section of this site. You may also like to hear from some other entrepeneurs telling their stories from Newstalk Podcasts or why not have your own say on the lively smallbusinesscan.com Forum
This is the birth stage of the venture. It may also be a succession in which a new management is charged with driving the business. The founders are usually technically or entrepreneurially oriented. Communication is frequent and informal. Long hours of work are rewarded with modest salaries and the promise of ownership benefits. Decisions and motivations are highly sensitive to market feedback.
- Activities are typically constrained by limited financial resources.
- Ingenuity substitutes for capital resources.
- Flexibility with an absence of policy on “how things are done” generates creativity.
- The imperative is to specify/make the product (concept), prepare a business plan , get market feedback and peer advice , find and access production capacity and fund this product concept validation stage from own resources, credit cards, potential customers and earnings from related/previous work capabilities.
Company Growth Drivers
Marketing And Sales
- Creatively devise and specify the new product concept that is different.
- Undertake market opportunity assessment to validate market, identify early adopters and fine-tune the product concept.
- Test adopter commercial interest in the concept/prototype.
- Foster creative management organisation with an eco-system of resources to support it
- Management acts, as customers react
- Start up location, staff and premises that accelerates route to market
- Start up business plan
- Find money from own resources, family, friends, agencies and occupational earnings
- Secure angel funding for concept development, initial product creation and first marketing efforts
- Problem identification and vision for solution
- Make and sell
- Big picture