by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What are Ideation Best Practices?While many approaches to ideation exist, there are several commonalities that exist for effectively developing or creating new ideas. Below is a list of some of these best practices. Use Unique Thought Patterns – Albert Einstein...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
How to Translate Ideation into the Business PlanThe primary purpose of ideation is to come up with some novel idea that creates the desired value. However, ideation can also help you in constructing the concept for your ideas value proposition. Within the business...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
How to Analyze a Business Idea or Concept?The concept analysis continues the task begun during the ideation process. This portion makes certain that you fully understand your business concept and how you hope to transfer value to customers or clients. You cannot...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What goes into developing an operational Plan? All of the components that allow your business to create value. The operations portion of the business plan serves two purposes: Allow you to take a holistic approach to your business, and Provide interested third parties...
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Management and Organization Section of the Business Plan? Outline your organizational structure and then tell about your primaries. How your business will be managed and who will be involved is an important consideration in your choice of business entity....
by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation
What is the Financials Portion of the Business Plan? It depends upon the intended use of the business plan. The financial portion of the business plan may be surprisingly unique depending on the business. As previously discussed, the business plan serves two primary...
