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Conceive It
Feelings/Experience Excited about your new business idea? Impatient to get going?
What you need to work on at this phase
- A business plan and establish an ongoing planning system to review progress and adjust the plan
- Market research for your business idea
- Define your Product or Service and Positioning
- Define your Business Model and assess its viability and know your benchmarks for viability
- Vision, Goals and a strategic plan to fulfil them
- Capital requirements and funding sources
- A Market Plan to take your idea to the market
Issues that may arise from this phase
- Lack of market acceptance of, or demand for the product/service
- The markets ability to use or how it uses the product/service and impact on viability
- Growth strategy, distribution strategy not matched to business model
- Market competition, lack of differentiation
- Access to the market problems, wrong channels, lack of marketing
- Under capitalisation impacts on cashflow
- Funding growth
- Business performance - benchmarks not established to assess performance and control the business
Get it right at the start. Book an initial meeting now. It's on us.
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