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.


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