Growth risk

 

Challenges

!!!  New business formation: move into a competitive business world requires specific type of knowledge, expertise, resources and personal business skills.

!!!  Launching a venture without Innoball playing Innoball is like starting a football game naively believing that the opposing team does not exist.

Solutions

>> Play entrepreneurial simulation games

>> Identify the type of the new company

>> Select the type of entity and ownership

>> Select the right business model

>> Start the new company in an enabling environment such as business incubator

OUTSTANDING INNOPRENEUR by Vadim Kptelnikov Innompic e-book PowerPoint download

Actions

Know 10 Keys to Success of a High-Growth Venture and 7 Routes To High Profits

Prepare schedule, define and describe milestones, and prepare the milestone chart

Do venture planning to assess the feasibility of your venture

Develop a business model for your radical innovation project, compare various business models

Play entrepreneurial games, such as Innovation Football and Innovation Chess; use KoRe 10 Innovative Thinking Tools to test your business idea and strengthen your team, business model and business strategies

Develop your competitive and differentiation strategy and a strategy map

Avoid the 10 deadly small business mistakes; be aware of the deal-killer entrepreneurial personality traits

Prepare a focused  and scalable business plan that provides clear direction  >>>

Make a Strength Weaknesses Opportunities Threats (SWOT) analysis

Do business, cash and technology forecasting

Take outside professional advice and services

 

 

Study and employment and regulatory requirements

Select legal structure of your new company

Study startup company intellectual property (IP) strategies. Register your trademark - the legal protection for your company, your business name, your brand, and your domain name

Explore opportunities for starting up your business in an enabling environment such as a technology business incubator or S&T park

Start developing strategic alliances