In conclusion, I would like to introduce you to the 4P of Innovation formula , which you can use both when starting a new business and when introducing new products to the market.
PRODUCT – are you sure you understand and control the product?
PROCESS – are you able to deliver the product according to the required standard?
POSITION – are you able to enter the market?
PARADIGM – are you mentally ready to make this move?
Testing a business idea does not have to involve any expenses. Yes, it takes time and energy, but finding answers to key questions pays off.
These answers and market research will help you avoid spending money (in the worst case, not your bank) on a business that offers something thatime to Database maket no one needs.
Entrepreneurship is about constantly answering various questions and being flexible and adapting to the needs of recipients.
Good luck developing your ideas.
Do you have an idea for a business and want to see what the challenge program looks like in practice?
Clilow and listen to the webinar that I had the pleasure of leading as part of the Active Academy program organized by the Pomeranian University in Słupsk.
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