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Entrepreneurship is first and foremost creative problem solving. It doesn’t matter how good your skills and ideas are, if you can’t solve enough important problems for enough people, your chances of success are slim. Yet most innovators are too eager to jump to solutions before fully analyzing and assembling the problem.
In the second edition of their important book, Design-centric entrepreneurshipauthors and innovation thought leaders Min Basadur, Michel Goldsby, and Rob Mathews share fact-finding strategies that help entrepreneurs discover information that leads to better problem definition and better solutions. . Backed by extensive research and field trials, they delve into as many potentially relevant facts as possible, approach issues with an openness to new information that challenges preconceived notions, and seek different perspectives. We provide a professional way to
Three prominent entrepreneurship experts, all academics and one, Min Basadur, the founder of a consulting business, are involved in creating and bringing groundbreaking products and services to market. We share how to overcome the possibility of facing The book reads like a detailed “how-to” and goes from why it’s important to avoid seizing and implementing obvious solutions to the immersive strategies needed to delve into the market problem space. , offering invaluable advice on all things.
Punctuated with many field examples that highlight key points, the authors guide entrepreneurs from making assumptions about markets, customers, and competitors to making informed decisions and taking strategic actions. reveals a number of strategies that lead to
For example, to illustrate the concept of common mistakes they dubbed, they share the following scenario.
“A consumer products company wanted to expand from retail to the institutional market. Market research showed the size and number of hospitals and schools offered significant opportunities for revenue growth. , was to approach this new market with the same routine used over and over again in retail: build a great product, promote it like crazy, and watch the customers flood in. launched a project to provide sanitizing and cleaning products that are superior to second-hand products whose tests have shown that all current competitors provide little cleaning, while government labs It passed the germicidal test. The solution was to manufacture a product with both a cleaning agent and a disinfectant that would kill germs better.
“After two years of intensive work, the R&D department completed the project and finally achieved a breakthrough and patentable formula. It has been proven to kill bacteria far better than its competitors.
“When the product was put on the test market, the company couldn’t sell a single gallon. The new product was more than double the price of the current product.Their current product was happy with the performance (no one complained) and the purchase decision was based on price and service. It was done. So the team spent two years working on a great solution to a non-existent problem.”
The authors share seven strategies to employ to avoid the “great product has no market” blunder when fact-finding.
This second edition Design-centric entrepreneurship Updated to include social entrepreneurship, additional international examples, and enhanced supporting material. Digital Supplement includes virtual creative problem-solving profiles, slides, and instructor manuals.
Design-centric entrepreneurship Entrepreneurs can fill the missing piece of transforming perceptions of opportunities into viable business concepts. It shows how the greatest discoveries occur when someone searches for answers that others dare not pursue. For more information, please visit the following URL: https://elprofile.com.
By Lady’s Patino.
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