Stage 0: Pre-venture
The Pre-venture stage is when a client has an idea and is in the process of evaluating its feasibility and whether to fully pursue its development. Some Pre-venture clients are in the early stages of development while others may have spent years planning a product or service. Many times a Pre-venture client will have some form of technology they want to market but do not have an application for that technology and need help identifying where the application could best fit. WTBC counseling for Pre-venture clients focuses on:
- Developing a business concept, which includes overview of problem and solution, product, customer, market size, competition, marketing strategy, and sales strategy.
- Determining business feasibility through cash flow analysis.
- Deciding whether to form a company and pursue the idea or not.