What are some of the pitfalls?
· An interesting idea but too difficult or expensive to create.
· “This is a new market” there is no competition
· A solution to a known problem but not practical for the customer.
· “One we have the product it will run off the shelves”
· An innovative opportunity but only a small niche market for it
· The entrepreneurs enthusiasm exceeds the competence required to deliver
· The available expertise and resources are not sufficient to support investment required.
· Where do I start?
· Who can help me?
Objective of Module
Participants on completion of the Module will have a clear understanding of what is important at each stage of creating a new business. They will have the knowledge to decide what is important for them to focus on at the start of a business in the context of their own business. They will have a set of tools to enable them confirm the viability and practicality of their business idea/opportunity and they will have created some foundations for the business.
Some topics that will be covered
· The proposition/solution creates the opportunity but what problem does it solve, or what is the true opportunity.
· Is there a market and how big is that market? (How to find out?)
· What will be required to bring the product/service to market?
· Competitive analysis (How will we compete?)
· What resources & competencies are required (Where can they be sources?)
· Research versus Development
· How can I get help? (Advice and support available)
· Sources & Types of finance
· Some things to do now, that do not have immediate payback but have long term benefit
For further information or to register http://intelligentorg.com/?page_id=411