Start Up Stories

Early Business Model Work Belongs In The R&D Line

Posted in Uncategorized by Devon on March 15, 2009

It’s October 12 and I’ve asked Merritt to help me write the business plan; a very good move. It will turn out that we’ve enough brain power, analytical skills, and business experience to build 2 completely different business plans in about 2 1/2 weeks. What we will find in this next 2 1/2 weeks will profoundly change the direction of the firm. In fact, we will abandon the premise upon which the firm was founded and start down a completely different track. In my previous start-up, as someone initially trained as a biologist/chemist, I didn’t have business skills to test business models as I do now – this is a critical time-saving skill-set and having 2 well-trained seasoned executives saves even more precious time.

It’s really true that having business people, in addition to product/technical people, around in the early phases of a business is critical to conducting what I’d call “business model R&D”. I’ve heard early-stage, primarily technically-trained entrepreneurs make derisive remarks about MBAs and frankly, it’s the wrong attitude, business model R&D is just as important as product R&D.

Do you have business people on your team conducting business model R&D?

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