Create a Technology Business of Your Own
When emerging technologies and emerging trends in business come together, you get a businesses with exceptional prospects for profitability and growth. How do you do it?
All businesses need technical-know-how. If you are a house painter, you need the skills to select right paints and use the right equipment to deliver what your customer wants. While painting know-how might be easy to get, things become quite different when you are working with emerging technologies. You might not be clear even about the product you want to deliver.
EmTechMag will work with you to locate technology sources and consultants, and to develop clear ideas about marketable applications. And support you in negotiating terms and working arrangements.
DEVELOP BUSINESS PLAN
Now that you have specific ideas about the product, you work on developing a complete plan of action to convert these into a successful business. That involves looking at the market, customers and competitors, and developing a competitive offer that will appeal to customers. It will also involve identifying the resources you need to carry out all the business processes and viable strategies to assemble these. Next you have to check what revenue streams are available and whether these will cover your costs.
EmTechMag will use structured frameworks to support you in identifying all the requirements and developing feasible and profitable strategies. We can then convert these into a fully worked out financial model.
IMPLEMENT STARTUP PROJECT
Moving from paper plans to an operating business is a project management exercise. You prioritize tasks, schedule them, create to-do lists and get things moving. You meet people, discuss things, assemble resources and organize work to achieve specific results. You also set milestones and cost budgets, and systems to check that the milestones are achieved in time and within the budgets.
EmTechMag will work with you to plan and execute the project using right tools. And to run trial operations before full-scale launch.
RUN THE BUSINESS
You have great hopes for your business. Achieving results that fulfill these hopes require effective control systems. You set consistent targets from the top to operating field levels. You measure performance against these targets. And take necessary actions when you notice deviations from targets.
EmTechMag will work with you to design and set up control systems that cover not only monetary objectives but all business objectives.
Ideally, an assignment will include:
- A SWOT analysis to identify your strengths and weaknesses, and the market opportunities and threats, in the context of a proposed business idea.
- Technology sources are explored next. There are varied sources and EmTechMag have identified many of these.
- You, the technical consultant and EmTechMag then work together to assemble information to create a business model that looks at the viability and feasibility of the business.
- The conceptual business model is converted into a detailed and actionable business plan.
- The task now is to locate sources for the different resources needed, negotiate terms and meet people to get things moving till the project is ready for launch.
- And start marketing your offer as well as put in place an MIS to control the business.