The Zell Entrepreneurship Program kicks in to turbo mode at this time of year because there is much to do now that this year’s teams have completed a semester focusing on ideation, concept development and preliminary validation.
We emphasize customer discoveryas developed inthe Four Steps to the Epiphanyby Steve Blank meaning that the teams must go out and find real customers for their products. Two of our teams are presently working on prototypes that they will be using for concept testing in the coming weeks. All of the teams have been working over the past weeks, exams notwithstanding, on honing in on their target market. To this end, Oded Golan atCarmel Venturesis meeting with the teams. The teams were hosted at Carmel Ventures a few weeks ago for a session on market segmentation and database research. Thanks to Shlomo Dovrat, our advisory board chairman!
For the ventures that have been able to complete a feasibility study with a decision to continue pursuing the venture, its time to tackle business planning in the Spring semester. The business planning stage involves market segmentation and development of a marketing strategy, financial planning and development of pro form financials.