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This is the first step to apply for the Columbia Emergency Loan Fund. Watch these pre-recorded videos in order.
At the highest level, you will come away with clear answers to the following questions:
- What are the challenges of how to develop detailed, tangible ideas that form the basis of your new business models?
- What are common mistakes made in new business development modeling?
- Can you create new sources of revenues based on market data, customer acquisition rates, and life cycle models?
- What are current practices to understand fully the needs of both your current and potential customer?
- How can lean product development be incorporated into existing realization efforts?
- How to use competitive intelligence to assess the opportunities and competitive gaps associated with new business, products, and markets?
- How to determine the value of strategic relationships or alliances to launch your pivot for speed to market and also to minimize the risk.
- What metrics are critical to measure and monitor new venture growth and profitability?
Each participant will develop and submit a Business Modification Plan for review and feedback.
Who Should Attend
This is a limited enrollment program designed for business owners working on creating business models or pivoting their existing businesses through a visionary practice of how to create/enhance new value for their existing or new targeted customers.
The program uses a proprietary sequence of modules and tools to support the development of your new business profit models. Specific skill development and issues covered include:
- Design Thinking Strategies- Learn how to be faster in making ideas more tangible, how to evaluate them sooner, refine them, and zero in on the best solution.”
- Business Model Alignment- Developing a business model that focuses on product-market alignment in order to. gain early traction and profitability (as well as avoid costly market entry errors
- Customer Empathy Mapping- Understand everything about your customer. Learn that customer relationships can’t be managed, they must be developed and fostered
- Market Size Estimates- Applying bottom up analysis to determine target market potential and associated revenue projections for new product & market entry
- Customer Acquisition Costs- Calculating the costs of acquiring and retaining new customers compared with the lifetime value of each customer
- New Product Costs- How to limit product costs using lean methods for development of minimal viable products, early prototypes and larger volume production
- Convergence of Price and Place-How pricing is determined in an “Omni Channel” environment?
- Marketplace Tools- Identify tools that help companies focus on their customers so they can grow faster and be successful.
- Key Performance Metrics- Identifying critical indicators for benchmarking, measurement, & monitoring the efficacy of your business model.