Discussion Post: Adaptability
After an initial period of selling, Austin changed the way in which he branded his product. In the Week 3 Discussion, you introduced your Value Proposition. Now you are going to take this to the next level.
Use the Assumptionator PowerPoint Tool in your Materials to reexamine your previous assumptions about your product or service. Then answer the questions below:
a) What are the key actions you need to take to deliver your Value Proposition to your Customers?
b) What have you done to test your Value Proposition?
c) What will you do if it turns out that your original Value Proposition is not resonating with your Customers?
Adapting Your Idea
An entrepreneur's initial idea is just that: a starting point. Important factors that impact the brand as it evolves are industry trends, consumer demands, and input from investors and partners. This week, in the Tio case, Austin talks about how he refined and adapted his idea to the point where his business plan would appeal to a large, global funding partner such as General Mills.
Whether you are an intrapreneur or entrepreneur, it is very beneficial to develop your own business plan. This tool enables you, the innovator, to systematically work through the challenges and requirements for building your business or venture. It covers such topics as opportunity and threats, company or team structure, financial support, resources needed, marketing and branding, and many more.
The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.