Entrepreneur Test | 8 Biggest Hurdles

By: Innovation Centre  09-12-2011

For Entrepreneurs and Innovators

Launching a new venture is a complex and risky process – lots of things will go right, but there are lots of things that can go wrong too.

We have worked with thousands of entrepreneurs and innovators and have identified 8 critical factors for venture success:

  1. Performance advantage – is your innovation better than the competition’s?
  2. Market readiness – are you ready to launch or are you still in development?
  3. Product uniqueness – does you innovation stand out or get lost in a crowd?
  4. First customer – is somebody ready to pay you money for your product or service?
  5. Distribution – can you get it to market?
  6. Market size – is the market viable?
  7. The entrepreneur – do you have the right stuff?
  8. The financial plan – can you make money over the long haul?

The impact of critical gaps

Our research has found that critical gaps in one or more of these 8 factors significantly reduces a venture’s likelihood of success.    Fortunately, critical gaps can often be addressed.   For new ventures, identifying and dealing with the critical gaps early can make a difference in increasing the chances for success.

Other products and services from Innovation Centre


Critical Factors Assessment | Canadian Innovation Centre

Depending on which option you choose, our team of experts will review the information, requesting additional information as required, and assesses the venture against the 42 factors that our research indicates have a significant impact on venture success.


Entrepreneur Help | Services | Canadian Innovation Centre

If you are an intrapreneur within a corporation (as opposed to an entrepreneur launching a new venture) and you are looking to launch new products, these resources apply to you as well. The Canadian Innovation Centre has the services, tools and resources that can help you move your venture along the commercialization path. The CanadianInnovation Centre has assisted thousands of entrepreneurs and innovators with the commercialization process.


Innovation Process Consulting and Services

We also offer links to our large network of partners who can provide the specialty services you need, such as legal and accounting services. The Canadian Innovation Centre has developed a portfolio of professional services designed to help with your toughest problems. These time-tested services have been developed based on our work with thousands of entrepreneurs and innovators. Helping you address your most critical challenges.


Innovators Assistance Program | Canadian Innovation Centre

This is ideal for entrepreneurs seeking guidance covering issues large and small not easily contained within any single assessment product and who prefer building their initiatives with the help of an experienced team or team member through a trusted, long-term relationship based on regular contact.


Multiple Market Assessment | Canadian Innovation Centre

In addition, having an alternate or second income stream early on can supplement the cash need of a larger, more ambitious venture and help to preserve the equity stake of the entrepreneur. Entrepreneurs who are able to develop two or more businesses are more likely to succeed by the virtues of flexible cash flow, synergized learning curve and diversification of risk.


Technology Commercialization Roadmap | Canadian Innovation Centre

We have created a portfolio of services, tools and resources that covers each stage of the go-to-market journey. The Canadian Innovation Centre has developed the Commercialization Roadmap to make this journey easier. Getting a new product or service from concept to being market-ready can be a long and arduous journey. There are many hurdles to clear along the way and it is easy to get lost or stalled. Navigating the path to venture success.