- July 24, 2021
- Posted by: Stratford Team
- Category: Business
Recently, our IMPACT 307 Laramie director conducted a statewide webinar on the elements of our organization’s key advisory offering, a 10-step business model.
The model borrows heavily from the National Science Foundation Innovation Corps and Lean Launchpad methodology used by many business incubators across the country. The following is a summary of the model that we deploy with our clients:
What is the problem that is being addressed by the new product or service? Defining an issue that a prospective customer has and desires a solution to is a core element of any new business idea.
Once the problem is identified, the entrepreneur is encouraged to provide details on their product or service. There needs to be enough detail that a possible customer would have an understanding of the offering, how it resolves their issue and how well it would meet their needs.
We then do a deeper dive into prospective customer analysis….
