Innovation is the lifeblood of businesses and arguably economies at-large. Research has shown that companies that do not generate and launch new service and product offerings on a regular basis are very likely to stagnate and eventually be disrupted. With this said, ideas are a time dozen, and the most significant challenge in advancing a new concept to potential partners, investors, or senior managers is to establish a solid business case that helps validate and inform new business concepts.
If you have established an initial concept or vision, then the necessary due diligence to validate and establish a solid business case is all that stands between you and the conversations that need to happen with the experts, investors, partners, and collaborators that are necessary to further refine and eventually launch your concept. Promising concepts often get stagnated at this phase because of a lack of time or expertise to establish a solid business case. Establishing your own business case is a valid approach, but suffers from the inherent confirmation bias of the innovator. It is difficult to be truly objective when business cases are validated by the individual or organization that created them. This outside critique will certainly be obtained from those You share the concept with for support or approval, but innovators can accelerate their validation phase by bringing the best initial business case to the discussion.
We develop sophisticated financial models using Quantrix, a professional modeling software, and have developed hundreds of financial models that have raised millions in investment capital.
We develop data driven market studies that leverage ESRI and ArcGIS to both define and visualize markets on a local, national in international level using demographic and behavioral data.
We have developed a tested approach to modeling and visualizing platform models in system dynamics and R that reduce the cost and speed of modeling and validating these complex systems.
Get to Market Faster!
Properly defining your business case from the start can lay the foundation for getting the most valuable feedback from your potential investors, partners, collaborators, and customers. This can significantly shorten the development and validation time necessary to get a concept to the initial launch and could help inform critical business and product design decisions that could mean avoiding expensive early missteps in a product or service launch.
We Can Help…
After over 15 years of developing business cases for new concepts, First Steps Consulting has developed the necessary expertise in lean business mapping, primary and secondary market research, market segmentation, geospatial mapping, developing and executing on MVPs, financial modeling, and investor pitches. In addition, we have developed deep skill sets and industry advisors in the verticals of “Health and Fitness”, “Clean Energy”, “Public Policy” and “Startups”.
We leverage best in class applications such as Quantrix for financial modeling, ESRI for demographic research and GIS mapping, Qualtrics for primary research, and RStudio for accessing large internal or external data sets necessary for data analysis. With our combination of technical and senior industry expertise, we can develop business cases that are high quality and credible substantially quicker than would be possible for most entrepreneurs or corporate entrepreneurs. In addition, through our advisors and consultant network, we can provide a bridge to advisory services for ongoing support during and after the business is launched.