Chapter 2. Generating, Screening, and Developing Ideas
Most entrepreneurs or Strategic Business Unit (SBU) managers have at least one product or service concept in mind when they begin planning new initiatives. In this chapter, we describe some helpful methodologies and concepts, as well as codified entrepreneurial experiences, which can help generate and screen new product and service concepts. We then describe cost-efficient methods for getting marketplace and channel participants both to help improve the design and to gauge the potential sales outlook for the idea. The old stock market adage of “cut your losses and let your profits run” applies ...
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