Tips for Creating a New Venture

  1. Identify and screen opportunities ... create a vision and concept statement; build an initial core entrepreneurial team; describe the initial ideas about the value proposition and the business model
  2. Refine the concept, determine feasibility, and prepare a mission statement ... research the business idea and prepare a set of scenarios; draft the outline of a business plan and an executive summary
  3. Prepare a complete business plan with a financial plan and the legal organization suitable for the venture
  4. Determine the amount of financial, physical, and human resources required ... prepare a financial model for the business and determine the necessary resources; prepare a plan for acquiring these resources
  5. Secure the necessary resources and capabilities from investors, as sell as new talent and alliances
  6. Launch the new venture!