Success Means Exploiting The Opportunity
We help entrepreneurs and investors exploit the opportunities made possible by innovative solutions. But it requires thinking differently to make it happen.
We found that entrepreneurs focus on the innovation/solution and investors focus on the financing. Neither focus enough on the complicated “process” of getting from innovation to scaling revenues. The problem is there is no complete, step-by-step process to get the entrepreneur from the idea or brilliant solution to sustainable, growing revenues. We now have a process that covers that gap from idea to revenues.
But, you have to think differently, and that starts with each individual's mindsets. The entrepreneur and the investor’s mindsets are that each business is different and therefore the process needs to be reinvented for each startup. The problem is that it’s not working that well because it’s difficult to guess your way to success.
According to a Forbes study of VC funded startups, 30-40 percent fail with the employees and investors losing all of their money. About 40 -50 percent break even or had some returns. But, only 10% delivered superior returns. Solving a problem or having a great idea is not the answer. Success is exploiting the opportunity the solution or idea offers.
That's why we start the process by making everyone aware of their mindsets (biases, beliefs, heuristics, ideologies). Mindsets are natural and they directly affect how we make decisions. Our mind synthesizes all the information we encounter throughout our life and turns this information into constructs that we can use immediately (think flight or fight). We see these mindsets as facts. But they are our facts which may differ from someone else's facts.
So when confronted with new information or unusual concepts or conclusions, we sometimes instantly embrace or disregard the information out of hand and therefore hurt our chances of making the right decision.
Initially, visualizing your business model is a creative task that requires you to think differently. That's why it's important to challenge your mindsets so you can be more creative, see new ideas, see patterns that didn't exist before, and have more insights. For example, how to reduce uncertainty by measuring intangibles, how to make your competition irrelevant, or how to turn data into insights or do you know why your customers really buy from you?
Going through this opening process will get you ready to take on the major task of creating an evidence-based business model using our "Connect" process that will help you turn your startup from a startup to a business.
It works for companies that have stalled or are fighting with competitors for short-lived, lower-margin marketing gains as well.
Because our definition of success is dominance within the marketplace, we have to start by thinking differently. That's why we focus on our "Connect" process that takes a startup through a complete, step-by-step process from how you think, to product-market-investor fit to scaling revenues.
If you have a startup that needs to get off the ground or have a company that has reached a sales plateau, send us an email and tell us how we can help.