NEW VENTURE DEVELOPMENT MODEL
Six Steps Towards Launching Your New Business Venture
Set in the context of the Volatility, Uncertainty, Complexity and Ambiguity (VUCA), my New Venture Development Model breaks the core components of launching a new business venture into six simple and structured steps: Purpose, Prospects, People, Prototyping, Proposition & Promotion. Learn more about the six areas below.
01 | Purpose
Define the business's values and purpose, before creating concise mission and vision statements that summarise the focus and direction of your new venture.
02 | Prospects
Identify and profile your target customers, their pains and desired gains, so you can understand their behaviours, attitudes and perspectives.
03 | People
Determine the team and organisational structure that's going to work best for you and the business, before identifying potential partners and/or co-founders.
04 | Prototyping
Ideate and develop a prototype of your product or service, before testing it with potential customers in order to achieve proof of concept.
05 | Proposition
Refine your value proposition and business model, through a structured process of concept development, feasibility analysis and business planning,
06 | Promotion
Create a marketing and sales strategy, to engage your target audience, develop leads and drive sales.
Ready To Launch Your New Business Venture?
My Entrepreneurship Programme can provide you with the independent support, impartial advice and structured accountability to get you started.