Starting up your business can leave you feeling out of your element as you are moving up a huge learning curve. There are a few common pitfalls that you need to look out for.
1. Business structure
3. Testing for your Minimum Viable Product
4. Brand Properties
5. Loyalty / CRM
If you have these components in place, you are much more likely to be successful. Watch the video to understand each pitfall and the best practices around them.
There are 5 major phases of the enterprise lifecycle from a small business in rapid growth to a mature corporate enterprise. What is important at each stage and how to accomplish this as you grow?
The subject matter expert is Adrian Davis, CEO of Whetstone Inc. (www.whetstoneinc.ca) is a professional speaker and technology advisor.
A small business’ total offering that they provide to customers includes 3 critical pieces:
1. Product: A product can be anything that is tangible. Examples include nail polish, food, or a backpack.
2. Service: A service is an activity that is done for you. Examples include getting your nails done, being served at a restaurant, or having a porter carry your bags to your room at a hotel.
3. Intellectual Property: Intellectual property is the knowledge and information that your business has that allows you to deliver the product or service differently than the competition. Examples include getting a back massage while your nails dry, the recipes of the food you eat at a restaurant, and the design of a bag or backpack.
The main ways to protect intellectual property including copyrights, patents, trademarks, industrial design, and trade secrets is covered in the video by a leading law firm, Miller Thomson.