Inception Stage – 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

Growth risk

Challenges !!!  New business formation: move into a competitive business world requires specific type of knowledge, expertise, resources and personal business skills. Solutions >> Entrepreneurial simulation games >> Right business model and a good milestone chart , lean startup Actions ▪ Know 10 Keys to Success of a High-Growth Venture and → 7 Routes To High Profits ▪ Do venture planning to assess the feasibility of your venture,  describe milestones ▪ Play entrepreneurial games, such as Innoball to test your business idea and strengthen your team, business model and entrepreneurial strategies... More

Start-up's success is 1% your invention and
99% your → entrepreneurial skills and → drivers

 “The will to win is not nearly as important as the will to prepare to win." ~ Bobby Knight

 

Problem	Solution	Action
Technology & Production Risk Violations of intellectual property rights (IPR) Emphasis on further research rather than → business development	Protection of your IPR ‒ turning your inventions into profit-making assets Development of the intellectual property management (IPM) system Development of your personal and business skills	Master the 10 easy steps to turning your ideas / inventions into cash Protect your IPR, develop IP strategies and take necessary disciplinary steps for your IPR protection Establish a technology intelligence system Search for patent information to identify alternative technologies and avoid possible infringement problems Map your territory Identify bottlenecks and pitfalls Prepare functional and design product specifications Learn from success stories of other entrepreneurs
Problem	Solution	Action
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 → Virtuoso Marketing → Social Media Marketing: 10 Tips → Focus on Emotional Drivers → Empathetic Marketing → Buzz Marketing → Sell Benefits → Selling Is Problem Solving → Synergistic Selling: 3 Arts	Be a great Venture Marketer Study best new product development practices and develop your critical milestone program Know your customer, their needs and what makes people buy; make customer assessment Conduct market research, but don't rely on traditional market research only ‒ it can tell you what exists, not what should be or could be Identify your differentiation and positioning strategy Develop a prototype and beta-test / test market your product or service; identify the price at what you could sell it Define the shape of the product to develop and its features needed to deliver benefit Create a winning → customer value proposition Finalize or create your market niche, develop marketing strategy, and prepare a marketing plan Create remarkable brand attributes Conduct market oriented R&D, make a sales forecast Be a great venture marketer ‒ market your venture to prospective partners, investors and clients Know how to market and sell a radically innovative product Consider growth and marketing hacks for startups Develop your competitive strategy; → benefit from your competitors; → surprise to win

Innopreneurial simulation game "Innovation Football"  will help you strengthen your entrepreneurial team, → business model and → sustainable competitive advantage ‒ all within few hours.  >>>	Innovation Football helps you turn your invention into a great business by inventing stronger entrepreneurial strategies, anticipating opponents' attacks, → solving problems → creatively, and ultimately building a stronger business model and competitive advantage. >>>

 

  Innoball helps a venture not just succeed, but achieve much more than it was initially planned.  >>  Example 1  ‖  Example 2

 

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Innompic Model for nurturing High-growth Startups

    

Entrepreneurial Smartness Contests  Mega-Invention Radically Innovative Solution     Product Vision    ●  Value Mantra    ●  Slogan  Weighted Guiding Principles  Presentation    ●  Envisaged Success Story  Innovation Football