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Starting a business for an entrepreneur is often a life-changing event, while launching a business is like shaping one’s own destiny. The key to succeed in this entrepreneurship journey is setting a proper business planning and financial forecasting.
• Analyze your idea – Think and rethink your idea. At this stage, you need to analyze if your idea is something that is implementable at a larger scale or is it just a great thought.
• Business Value – This is when you need to start setting expectations around your idea. Try and assess the market failure that your idea can address and the commercial opportunity that it may present. At the end of the day, you need to implement the idea and generate revenues out of it.
• Demand – This is a phase where you analyze if there is a clear demand for the product or service?
• Skills and dependencies – This is a critical component of your ideation phase. Do you have the skills to implement your idea and transform it into a successful business?
o Look for co-founders who have complementary skills.
o Get a strong team together and leverage each other’s capabilities.
o Ensure compliance are addressed and if appropriate, a Legal entity is established .
Different elements to help entrepreneurs to identify the right Startup idea.
We help you come up with several startup ideas by sharing and assessment discussion.
We will help you come up with to come up with few ideas’ details using the processes we discussed in the previous module.
We go through each idea and prioritize them to help you to identify the ideas to proceed further with.
We will help you validate your top 3 Startup idea using the best promising idea qualification and the idea validator methodology. This will help you to understand to validate the identified idea.
We will analyze the idea validation results and analyze the apparent risks and feasibility which help you to identify the selected idea to pursue.
We provides state of the art startup consulting and business planning services to entrepreneurs and businesses across the globe. Our comprehensive framework provides a highly effective platform for new-age businesses. Our methodology is based on global best practice standards that are followed across the globe.