Startup companies in particular have the critical task of ensuring their product launches are successful, because the alternative can mean that the company itself ultimately fails. The problem is that while many startups believe their new products will change the world, they fail to deliver. A successful launch hinges on creating a foundation for success […]
Managing Risk to Maximize Innovation Success
Everyone would agree that innovation involves risk. Yet how often have you observed an entrepreneur who underestimates or fails to properly identify and communicate the risks for successfully developing and commercializing their innovations? It’s therefore not surprising that many startups fail. According to a Bureau of Labor Statistics report, more than 50 percent of small business startups […]
Delivering Success in Strategic Planning: Talent Management
Over the past few weeks we’ve discussed various aspects of strategic planning, including clearly identifying the target market segment, focusing on what your company needs to do to win, establishing measures of success, and implementing management processes to develop, drive, and monitor action plans. Now, let’s turn our attention to the most important part of […]
Turning a Strategic Plan Into Results
You’ve worked for months. Spent endless hours in airports and bland hotel rooms around the world to meet with customers to understand their issues and needs. Poured over market data and read countless 10-Ks and analyst reports in order to calculate market sizes and market growth rates. Business development, finance and regulatory affairs staff provided […]
No-Nonsense Strategic Planning: Make It Meaningful and Actionable
It’s that time of the year again. Time to dust off the desk and put together the business strategy for 2017. How many of you are working at companies that develop a 100-page 3 or 5-year strategic plan that represents a future nirvana vision for your business? The end product is a glorious dream of […]