Go To Market Process

Go to Market Process Details

Establish the Business

The first, and most important step, is to establish the business.  This limits your liability and protects your personal assets. The choice of business entity varies based on your needs.  The most typical are limited liability corporations (LLC) and S-corporations (S-Cops).  These are pass through entities, meaning any profit you make passes directly to the owners/partners as income.  There a specific tax implications for each depending on your industry

Validate Market Potential

It’s important demonstrate that your idea is seen as valuable to your customers.  This is typically called a proof of concept.  Typically, you provide the product or service free or at a significant discount to entice customers to try it. Obtaining their feedback on satisfaction, pricing, value, etc. is extremely important. Having this data will significantly increase your chances of obtaining funding.

Understand Capital & Talent Needs

It’s important to clearly articulate both the capital and talent required to successfully launch the business.  Now is the best time to write your business plan.  The business plan is a great tool both to articulate the need and to provide the justification.

See what types of custom business plans we offer.

Fund Capital Needs

There are a number of approaches when looking to fund capital needs.  How you fund your capital needs will depend on whether:

  1. How much equity or share of the company you are willing to sell?
  2. How much the company is valued based on competitive companies?
  3. Your credit if seeking a loan
  4. Your history or experience
  5. etc.

When it comes to seeking capital, there is not one ‘right’ approach. It’s very dependent on each individual company’s circumstances.  See our Funding Advice section for more information.  If you know which option you would prefer, please see the customer business plan types we offer.

Building Scale

When it comes to building scale, each case is unique. There are a couple of standards, such as, accounting & financial reporting systems, human resources, legal, etc., but there is no one-size-fits-all approach.

If you are interested in building scale, it’s best to speak to experts in the areas where you have gaps.  Please contact us, and we’d be happy to help.

Launch

The one area that we have notice over the years is that many start-up fail to put enough effort in their marketing plan.  The marketing plan is the engine that drives sales.  Without a quality plan, the launch can be sub-optimal.

We outline the elements of a quality plan in our Marketing Plan section. Please visit that section for more details.  Also, if you need help in developing a plan, please don’t hesitate to contact us.

Need Help With Launching Your Idea? Contact Us.

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