describes the various stages in the successful growth of an organization
Answers
It is hard to get a good idea, enough money, and a strong team all in the same place, and at the right time, for success. Many search their entire careers for the right combination. Those who are successful once hardly ever are able to do it again. Despite the long odds, a million or so new for-profit, non-profit, and internal ventures are conceived each year in the U.S..
Whoever covers the costs of getting started generally owns the venture. Funds to get out of the gate are often provided by the one who came up with the idea along with “family, friends, and fools (which some say are, by definition, all fools!)”.
Which of the three is most important (concept, idea, team) depends on what you have and what you are missing. For example
Those with money seek good ideas and strong teams in which to invest.
Great teams search for ideas and money.
Those with good ideas seek teams and funding.
Most new ventures are launched by those with little, or no, leadership, management, or business experience. According to the Small Business Administration “two-thirds of new employer establishments survive two years, and 44 percent survive four years“. Nonetheless, founders with determination, energy, intelligence, wits, a sense of humor, and with a thirst to learn both from their mistakes and from others with experience, can do well.
Objectives in the Concept stage are to:
Prepare a description of the envisioned organization that explains:
Whose problem it will solve and how it will solve it
How the organization will find, sell, and serve customers
How revenue, costs of generating revenue, and the cost of delivery and support activities will generate, over time, financial stability and profit at an increasing rate.
It is most efficient (i.e., it costs less, takes less time, and is easier) to uncover and sort out challenges by thinking through and articulating a concept rather than through trial and error. It is also easier, and more likely to be unambiguous, to share a well-thought-out Concept with those who eventually join, invest in, or advise the organization.
Explanation: