In this post, I want to update our readers and subscribers on the ever-evolving process of new venture realization. My focus continues to evolve over the years to encompass new theories and practices regarding the creation and growth of new ventures. I engage with approximately 300 founders each year as a professor and mentor. In … Continue reading New Venture Realization Roadmap: Fresh Perspectives & Insights
Understanding customer behavior is crucial when embarking on a new venture or developing a new product. It serves as the fundamental element that holds your business model together. Neglecting the time and effort required to comprehend your customers' objectives and the behaviors necessary to achieve those goals can jeopardize the success of your venture. In … Continue reading The Behavioral Thread: Navigating the Path from Discovery to Design
Starting a business is a challenging but rewarding endeavor. Entrepreneurs must put in much effort, hard work, and dedication to make their venture successful. One of the entrepreneurs' most significant challenges is finding the necessary business funding. While several funding sources are available to startups, it is crucial to identify the most suitable option for … Continue reading Navigating Government Support Programs for Startups
As an applied psychologist and entrepreneurship educator, I aim to apply behavioral science research and knowledge to the venture realization process. In particular, I'm interested in how creativity and innovation can be better understood and supported through the lens of behavioral science. Behavioral science is a valuable tool for anyone involved in venture realization, especially … Continue reading Leveraging Behavioral Science to Drive Early Product Design
As anyone following this blog for some time knows, I have written several posts on the Business Model Canvas (Start here). The main reason for this emphasis is that having a business model is vital to a new venture's success. Sometimes, entrepreneurs see it as an academic exercise and see no relevance to practice. Usually, … Continue reading From Idea to Launch: Validating Your Business Model at Every Stage
Innovation is essential for any business that wants to stay competitive and relevant in today's rapidly changing market. However, innovation is challenging, especially for large corporations facing bureaucracy, risk aversion, silos, and inertia. That's why many corporates are looking for ways to collaborate with startups, which are often more agile, creative, and disruptive. A startup … Continue reading Innovation at the Intersection: Startup-Corporate Partnerships
Customer feedback is crucial for startups as it provides valuable insights into how the target market positions the company's products or services. By actively seeking out and listening to customer feedback, startups can identify areas for improvement, address any problems or concerns, and ultimately enhance the overall customer experience. Critically, customer feedback is essential for … Continue reading The Power of Customer Feedback: How Startups Benefit
As my students will confirm, I am a process nerd. I live and breathe anything that supports the development of new ventures and innovation. You can refer to an earlier post on the new venture realization process I use with founders and startups. For this article, I want to focus on "connecting the dots" during your venture … Continue reading Managing Redundant Knowledge in Venture Development
Startup founders often seek advice for a variety of reasons. By tapping into the expertise of various individuals, they gain valuable insight and advice on navigating the challenges and uncertainty of starting and growing a business. In addition, founders gain support and encouragement as they work to bring their ideas to life and overcome obstacles. … Continue reading Maximizing the Value of Startup Mentors & Advisors
Introduction Amidst pressure to be everything for everyone, startups must zealously prioritize solving a small number of customer needs exceptionally well. This condition mandates distinguishing between customer outcomes - the specific results customers seek - and product benefits that enable those outcomes. Maintaining this delineation when interviewing customers, testing solutions, and structuring messaging boost your … Continue reading Unlocking Customer Outcomes: The Key to Startup Success
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