Successful business ventures typically move from a] problem/solution ideation to b] planning to c] startup to d] stable to e] sustainable to f] scalable.
Another perspective ...
1. Opportunity ... gap in market, new technology ... maybe, just maybe, we can do something here
2. Idea ... clear problems, viable solutions ... hmmm, looks like there is something here
3. Concept ... viable strategies for earning a profit solving customer problems better than the competition
4. Venture ... viable innovation concept (product, service, process, position, method); viable team (innovator, entrepreneur, money manager); viable resources (people, places, things, time, money)
5. Organization ... team, roles, clear strategies,
6. Company ... legal entity (corporation, LLC, et alia), pre-sales, unstable financials (raising funds)
7. Business ... low-hanging fruit, sales, customers, stable, positive EBITDA, viable business model
8. Enterprise ... scale, scope, markets, growth, significant EBITDA, defined task and assignments, employees
9. Institution ... significant market share, significant industry position, re-invention, continual innovation
10. Tombstone ... the cows have run out of milk
Topics
- Accounting
- Advertising
- Advisor
- Analysis
- Attitude
- Balance Sheet
- Barriers to Entry
- Beachhead
- Benefits
- Brain
- Brainstorming
- Brainwriting
- Budget
- Business Flow
- Business Model
- Cash Flow
- Change
- Commercialization
- Communications
- Competition
- Competitive Advantage
- Concept
- Consultant
- Corporate Entrepreneurship
- Creativity
- Critical Success Factor
- Crucial Questions
- Culture
- Customer
- Decisions
- Deploy
- Design
- Develop
- Differentiation
- Earn
- EBITDA
- Education
- Effectiveness
- Elevator Pitch
- Engineering
- Enterprise
- Entrepreneur
- Entrepreneurship
- Environment
- Evolution
- Executive Summary
- Exercise
- Expenses
- Expertise
- Failure
- Feasibility
- Finance
- Financial Objectives
- Flowchart
- Focus
- Funding
- Glossary
- Goals
- Growth
- Habits
- Healthy Venture
- Hiring
- Hypothesis
- Ideas
- Ideation
- Impact
- Income Statement
- Industry
- Industry Research
- Innovate-A-thon
- Innovation
- Innovator
- Intellectual Property
- Intrapreneurship
- Invention
- Inventory
- Investor
- Iteration
- Knowledge
- Launch
- Leadership
- Lean Startup
- Learning
- Legal
- Luck
- Management
- Manpower
- Market Research
- Marketing
- Marketing Brochure
- Material
- Media
- Media Relations
- Mentor
- Methods
- Mindmap
- Mindset
- Mission
- Mistakes
- Money
- Motivation
- Myths
- Name
- News Release
- Niche Market
- Non-Profit
- Objectives
- Operating Agreement
- Operations
- Opportunity
- Passion
- Patents
- People
- Pitch Deck
- Pivot
- Planning
- Positioning
- PR
- Presentations
- Price
- Problems
- Process Flow
- Product Development
- Productivity
- Profit
- Progress
- Promotion
- Prototype
- Publicity
- Refine
- Research
- Resources
- Return on Investment
- Reward
- Roadmap
- Sales
- SCAMPER
- SCORE
- Scorecard
- Skills
- Slides
- Solution Development
- Solutions
- SPLUCK
- Start-up
- Stimulation
- Strategies
- Structure
- Success
- SWOTT
- Tactics
- Tagline
- Target Market
- Team
- Teamwork
- Technology Readiness Levels
- Terminology
- Terms
- Test
- Thinking
- Tools
- Transformation
- Validation
- Value
- Venture
- Venture Capital
- Venture Creation
- Venture Plan
- Viability
- Vision
- Work
- Worth
- Writing
Search
Technology Readiness Levels (TRL)
Most every new innovative idea has a fuzzy front-end. The idea may have potential, at least in someone's mind, but it also likely has "holes" in it. Will it really work? What about this, what about that?
If we were to score this new idea, from 0 to 9, where would it be? Turns out, NASA and the European Commission created a well-vetted method for scoring new ideas based on the stage of technological progress ... 0 being conceptual, 9 meaning the idea is out there and doing well in the world.
If we were to score this new idea, from 0 to 9, where would it be? Turns out, NASA and the European Commission created a well-vetted method for scoring new ideas based on the stage of technological progress ... 0 being conceptual, 9 meaning the idea is out there and doing well in the world.
Rules of Some for Innovators and Entrepreneurs
Here's a collection of more tips, tools, and rules of some for innovators and entrepreneurs: RulesOfSome.com
Live and learn (hopefully!) ...
Lute Olson was a very popular basketball coach at the University of Arizona. He had many of his players move on to great careers in the NBA and other professional basketball leagues. This quote is a good summary of his philosophy for sharing and teaching how to be a better player. It works well for innovators and entrepreneurs, too ... let's do what we can as best as we can and learn and iterate and pivot as we go. But, let's try hard to learn from what didn't go well, and not do the same thing again the next time around.
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