Training Course on The New Venture Development Process

Training Course on The New Venture Development Process

Introduction

Embark on a transformative journey to master the intricacies of new venture development, a dynamic and crucial discipline for aspiring entrepreneurs, corporate innovators, and business leaders. Training Course on The New Venture Development Process provides a robust framework and practical tools to navigate the entire lifecycle of creating and launching successful new businesses. Participants will gain invaluable insights into identifying viable business opportunities, conducting thorough market analysis, crafting compelling business models, securing essential funding and investment, and implementing effective growth strategies. Through a blend of theoretical knowledge, real-world case studies, and interactive exercises, you will develop the skills and mindset necessary to transform innovative ideas into thriving enterprises. This course emphasizes a lean and agile approach, focusing on rapid prototyping, customer validation, and iterative development to minimize risk and maximize the potential for sustainable success in today's competitive landscape.

This intensive program delves deep into the essential stages of building a new venture, from initial idea generation and rigorous feasibility studies to the complexities of product development and the nuances of team building and leadership. You will learn how to develop a strong value proposition, understand your target customer segments, and build sustainable competitive advantages. Furthermore, the course covers critical aspects of intellectual property management, navigating the legal and regulatory environment, and establishing robust operational processes. By the end of this training, you will be equipped with a strategic and tactical understanding of the entire new venture development process, empowering you to confidently launch and scale impactful businesses.

Course Duration

5 days

Course Objectives

Upon completion of this training course, participants will be able to:

1. Identify and evaluate potential business opportunities using proven methodologies.
2. Conduct comprehensive market research and analysis to understand industry trends and customer needs.
3. Develop innovative and sustainable business models that create and capture value.
4. Master the principles of lean startup and agile development for efficient resource utilization.
5. Craft compelling value propositions that resonate with target customer segments.
6. Develop effective go-to-market strategies for successful product or service launches.
7. Understand the process of securing funding and investment from various sources.
8. Build and lead high-performing startup teams with clear roles and responsibilities.
9. Navigate the complexities of intellectual property and legal considerations for new ventures.
10. Implement effective marketing and sales strategies to acquire and retain customers.
11. Establish robust operational processes and supply chain management for scalability.
12. Develop key financial projections and understand essential financial management principles for startups.
13. Learn strategies for scaling and growth to ensure the long-term success of the new venture.

Organizational Benefits

• Equipping employees with the skills and mindset to identify and pursue new business opportunities within the organization.
• Providing a structured approach to generating and developing innovative products, services, and business models.
• Enhancing the likelihood of successful market entry through rigorous planning and validation.
• Cultivating a pipeline of skilled individuals capable of leading and managing new ventures.
• Enabling the organization to adapt quickly to changing market conditions and capitalize on emerging opportunities.
• Creating new revenue streams and strengthening market position through successful new ventures.
• Empowering employees with valuable skills and providing opportunities for growth and impact.
• Ensuring that resources are strategically invested in well-vetted and high-potential new ventures.

Target Audience

1. Aspiring Entrepreneurs with innovative business ideas.
2. Corporate Innovators seeking to develop new ventures within existing organizations.
3. Business Development Managers responsible for identifying new growth opportunities.
4. Startup Founders looking to formalize their development process.
5. Small Business Owners aiming to launch new products or services.
6. Investors seeking a deeper understanding of the new venture creation process.
7. Consultants advising startups and new businesses.
8. Students and Researchers in entrepreneurship and innovation.

Course Outline

Module 1: Opportunity Identification and Evaluation

• Identifying emerging market trends and unmet customer needs.
• Generating and brainstorming innovative business ideas.
• Conducting preliminary feasibility assessments.
• Utilizing frameworks for opportunity evaluation (e.g., SWOT, PESTEL).
• Case Study: Analysis of how Airbnb identified the opportunity in shared accommodation.

Module 2: Market Research and Customer Validation

• Defining target customer segments and their pain points.
• Conducting primary and secondary market research.
• Developing and testing hypotheses about customer needs and market size.
• Implementing customer interviews and surveys for validation.
• Case Study: How Dropbox validated their file-sharing solution through a simple video.

Module 3: Business Model Design and Innovation

• Understanding different types of business models (e.g., SaaS, subscription, freemium).
• Utilizing the Business Model Canvas framework.
• Identifying revenue streams, cost structures, and key resources.
• Developing a unique value proposition for the target market.
• Case Study: Examination of Netflix's evolution from a DVD rental service to a streaming giant.

Module 4: Lean Startup and Agile Methodologies

• Principles of the Lean Startup: Build-Measure-Learn.
• Developing Minimum Viable Products (MVPs) for rapid testing.
• Iterative product development and customer feedback loops.
• Applying agile methodologies in a startup context.
• Case Study: The early iterations of Instagram and its focus on core features.

Module 5: Funding and Investment Strategies

• Understanding different sources of funding (bootstrapping, angel investors, venture capital).
• Preparing a compelling pitch deck for investors.
• Navigating the investment process and term sheets.
• Exploring alternative funding options (crowdfunding, grants).
• Case Study: How Slack successfully raised multiple rounds of venture capital funding.

Module 6: Go-to-Market and Sales Strategies

• Developing a comprehensive go-to-market plan.
• Identifying optimal distribution channels and sales strategies.
• Building a strong brand identity and marketing message.
• Implementing effective customer acquisition and retention strategies.
• Case Study: The initial go-to-market strategy of Warby Parker and their direct-to-consumer model.

Module 7: Team Building and Leadership in New Ventures

• Identifying key roles and skills needed in a startup team.
• Strategies for recruiting and retaining top talent.
• Developing effective communication and collaboration within the team.
• Leadership styles and decision-making in a fast-paced environment.
• Case Study: The co-founder dynamics and leadership at Google in its early stages.

Module 8: Scaling and Growth Strategies

• Developing strategies for sustainable growth and expansion.
• Managing organizational scaling challenges (infrastructure, culture).
• Exploring new market opportunities and internationalization.
• Measuring and tracking key performance indicators (KPIs) for growth.
• Case Study: Amazon's strategic expansion into diverse product categories and global markets.

Training Methodology

This training course will employ a blended learning approach, incorporating:

• Interactive lectures and presentations.
• Group discussions and brainstorming sessions.
• Individual and team-based exercises.
• Real-world case study analysis.
• Guest speaker sessions with experienced entrepreneurs (if feasible).
• Practical tools and templates for immediate application.
• Q&A sessions and opportunities for networking.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.