What kind of start-up environment are you creating? Will your idea make it? Below is a 10 gate diagram of essential elements for moving toward your next launch. Each gate must be unlocked before you start the launch. Where are you in the circle?
If you are thinking about a new concept, product or division make sure your idea passes through each gate before spending to much time or your budget on it. We work with SCORE and or INVENTHELP since they do not have the proprietary software for developing culture and messaging. For those ideas and or businesses that qualify we will invest $10,000 to $50,000 into the concept. Get more information on the 10 gate process.
While working with businesses for over 20 years, Mr. Whipple noticed that most Start-ups had no written direction based on business value for positioning their business in the marketplace for an eventual buy-out. He developed specialized tools and ways to keep the ind in mind. What type of new product are you creating to spin-off a department or branch?
From the above chart, not forecasting with the end result is one key factor for the failure of a new concept. “Keeping the end in mind”, paraphrasing Stephen Covey, could be one of the most single causes of why a potential Investor or Buyer looks the other way. Further, their business or marketing plan was on a whim rather than objective third-party research for answers within the 10 gate process. After the launch, new department or
Stepping outside of your idea and looking-in is tough. And without a documented business value plan of the areas above is almost impossible to move forward. For example, a magnet’s strength cannot be seen with normal vision. It is measured in Gauss, which indicates the strength of the magnetic flux (pull or push) and measured with a special tool. Same with business value. There are key indicators of value not recognized by typical accounting methods that push or pull your business value. However, without understanding intangible, principles and laws of business value and how they are measured along with how a potential buyer looks at your business – then th value is lost. Start your new idea/business by reading the principles and laws of business value in “14 Immutable Laws of Business Value” and determine how they could be working (or not working) in your business. Get an online complimentary review with an Advisor by contacting us.
Bringing marketing direction and business value together could be an overwhelming task for a new team, market or owner yet vital. We have a unique online service for businesses to bring things together in an effective and