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Part II: Elements of the Scorecard

Part II: Elements of the Scorecard

Demand

Introduction

The elements have been organized into several groups to help you better understand the context and relevance of each one. We begin with Demand, and then proceed through Personal, Operations, Finance, Harvest, Daunting Negatives, The Story, and Carpe Diem. In this particular grouping relating to Demand, the 12 scorecard elements address the number one key strategic issue of any new venture, demand. Here we delve into the question, “Who cares?” Why would your product or service make any difference and how will the market respond? However, remember that we are moving at light speed here, not opening a research project to sustain the production of a business plan. We are asking these questions quickly and up front. If the scores are not strong in the Demand group, there may be little need to move to the next.

Dr. Market’s 30-Second MBA:

All my classes, particularly the ones with really smart people like you, begin with a moment’s communion with the notion of a going business. I call it the 30-Second MBA. What is a going business? Basically it is the creation, sale, and delivery of a product or service at high enough price to enough paying customers so that all the bills, including both fixed and unit, are paid with sufficient margin (profit) left over to provide the owners with an adequate return on their investment for having taken the risk in the first place. Keep this lesson in mind as you learn about the Innovator’s Scorecard. As extra credit, you may wish to examine Appendix III on p. 321, where Dr. Joseph Schumpeter explains his famous observation about entrepreneurship being a “creative destruction.”




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