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Just as people have periodic health checkups where a physician examines a variety of elements to determine the overall condition of the individual, so too can a venture, company, business go through a similar process. Here are 30 categories to determine the strengths and weaknesses of a business venture. This is also a good checklist for early venture planning and validation research.
For 20+ years, I taught in the University of Arizona entrepreneurship program which, at one point, was ranked #1 in the world by several major business publications.
On the whiteboard in my office, I drew a roadmap of the new venture creation process. It was, in essence, the syllabus for our entrepreneurship program in graphical form. [I was the keeper of the whiteboard, not necessarily the author of all that was there! I had some pretty wise and wonderful UA collaborators as well as entrepreneurship gurus from around the world from which the information was collected.]
Students and colleagues at UA would ask if they could take a photo of the whiteboard. Of course, yes! And I did the same. I took a photo, but ... I wanted to add a bit more here and there. And then I got carried away!! So ... the diagram you see today is the result.
One of the struggles we encountered, in teaching entrepreneurship concepts and building new ventures, is that the process is not particularly time-linear. It is often iterative, a back-and-forth proecess. Hence, a roadmap outlines the elements that need to be addressed, but not necessarily a hard path in doing so. At some point, the venture team should visit all the "attractions" on the map, but the order of the trip may vary depending on the nature of the venture.
The "main highyway" is the mission statement, highlighted in yellow.
Essentially,this roadmap for innovation commercialization is an entrepreneurship checklist, ... the key elements that should be considered and addressed when putting together a plan for a new business venture.
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