Scout out additional options, potential customers and paths to market. Crucial to plotting the best course to commercial success
Explore the potential for multiple income streams
Oftentimes a technological innovation lends itself to multiple fields which in turn leads to other market opportunities. Entrepreneurs who are able to develop two or more businesses are more likely to succeed by the virtues of flexible cash flow, synergized learning curve and diversification of risk. In addition, having an alternate or second income stream early on can supplement the cash need of a larger, more ambitious venture and help to preserve the equity stake of the entrepreneur.
For those interested in exploring these opportunities, the Centre offers an expanded version of the Critical Factors Assessment – the Multiple Market Assessment (MMA). The MMA consists of both primary and secondary research along with an in-house review and covers technological, business, historical and competitive issues. A written report is delivered in approximately five weeks; it explains and compares the ratings and challenges of three or more market opportunities. It is very useful when making additional market entry decisions.
Talk to an expert on how this service can help you. Contact us.