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Trilogy Tidings
September 2014
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in this issue
Validating and Testing Your Idea
The Downsides of Entrepreneurial Passion
Now for Something Totally Different
What does Trilogy do?
Resources from our Archives
     As I'm sure some sage once said, "new ideas are a dime a dozen; the trick is converting one to a cash-producing business." This month's Tidings addresses two dimensions of this problem: (1) validating that new idea, and (2) dealing with everything else -- including irrational passion -- required for commercial success.  

Regards,
Joe
  
Validating and Testing Your Idea     
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     This is really the key question of the day for many, is it not? Whether your organization is an academic lab, a prospective start-up company, a young enterprise contemplating expansion, a middle-market outfit hoping to add a new product or service line, or a market leader striving for some offensive diversification - you would really like to know if that new-product concept is worth a damn before you invest in its full development and commercialization.

Idea
 

     There are many reasons to validate and test your idea before you place some potentially expensive bets. Here are a few of those reasons:

  • It sets the expectations of investors, top management, other employees and alliance partners
  • It avoids commercializing the wrong product and can steer you to the right one
  • It avoids developing a product with a too-small market potential, or even no market potential at all
  • It's a great way to establish personal and organizational credibility
  • It can curtail a start-up enterprise or new-product initiative that is destined to fail

     As it happens, I addressed this very topic - validating and testing your idea - as part of an enterprise series workshop for the MIT Enterprise Forum. You can review my presentation here.


 

     I'm certain that many of my suggestions will be familiar to you. And you may disagree with a few. But I do hope you find something new and useful as well.  

 

The Downsides of Entrepreneurial Passion     
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     Validating your idea is one of several recommendations for entrepreneurial success. A recent Wall Street Journal piece by Noam Wasserman reinforces that notion and adds more challenges that must be faced. The article is entitled "How an Entrepreneur's Passion Can Destroy a Startup."


Destruction  

     While the need to validate a new-product concept applies to all enterprises, Wasserman's "four critical junctures" - the launch, the business plan, dividing equity, and the CEO chair - apply particularly to startups. The article is a worthy read.         


 

Now for Something Totally Different     
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     I'm a Jerry Seinfeld fan. I have been for as long as he's been on TV. If you're not a fan, I understand; he's an acquired taste. I found his TV show to be funny as hell, and his stand-up bits are often almost as good, although he works best with others. All his stand-up (and sit-down) archives are on the web. His most recent shtick is something called "Comedians in Cars Getting Coffee." Check it out if you're so inclined. 

 

What does Trilogy do? 
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     Trilogy Associates facilitates business growth and renewal through commercialization of new products, providing the following services:
  • Opportunity assessment
  • Business planning and enterprise growth strategies
  • New-product conceptualization, commercialization and marketing
  • Market research and competitive assessment
  • Business development and partnering
  • Market and technological due diligence
  • Assessment of the therapeutic and diagnostic potential of novel technologies
  • Design of efficient and effective development strategies for early-stage biomedical products
  • Business and technical writing/publishing

     Inquiries to establish whether and how we might support your business initiatives are always welcome.  Contact us.

Resources from our Archives 
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     Check out our Reading Room to view my published articles, presentations and white papers on a variety of topics.
  
     And, you can examine an archive of my prior newsletters (since February 2007).
Contact Information
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Joseph J. Kalinowski, Principal
919.533.6285
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