Biology Reference
In-Depth Information
Step 6: Market Development
This aspect of the business planning process begins with brand identification
and development, and continues through the preparation of customers to under-
stand and choose this innovation. If you are in academia, your market may be
funding agencies that you need to impress. Your market will likely include col-
leagues nationwide and globally who will evaluate your work from a publica-
tion standpoint as a peer reviewer, or possibly from a proposal standpoint as a
proposal evaluator. This aspect of the business process is essential because it
determines how people react to your innovation and how receptive they will be
of your brand. Market development continues all the way down to the prepara-
tion of customers to help them choose the innovation.
Step 7: Selling
This is the step where the real payoff is achieved. Now you earn the financial
or personal return by successfully selling or implementing the new products,
services, or resources. A personal return might be a promotion or the realization
of an innovation. Perhaps you've always had a desire to see a women's shelter
erected in your neighborhood because you've witnessed homelessness. While
you won't be seeing a financial return on your investment, the social impact
is substantial and meaningful for you. This is where passion becomes really
important because you need to use that enthusiasm to sell your product or ser-
vice and acquire advocates.
How to Get Advocates for Your Research, Idea,
Product, or Service
For an idea to become an innovation, it must “sell” to others. Whether there's
an idea I'm trying to convey, or I'm seeking financial support for one of my
funding agencies, or trying to communicate on a personal level, the following
six steps have done well by me:
1. Clearly articulated vision for the product, research proposal, or project
If you can't clearly state your vision to someone it is unlikely that people
will be able to follow.
2. Enthusiasm and passion
We've talked about passion many times throughout this topic. You've got
to maintain the enthusiasm and passion for your vision, particularly when
you get to this point, because you're probably getting tired by now. You may
have been working on an idea for 2 years 7 months and 12 days and you've
finally decided that it's not going to be successful. While I would encour-
age you to decide based on your background analysis and understanding,
I would also caution you not to give up too quickly because success may
come in 2 years 7 months and 14 days.
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