“Upgrading” To A Better Start-Up Business Is In The DNA
When developing strategic and creative solutions for starting a new business, tomorrow’s entrepreneurs will go beyond what’s worked in the past. That’s why we created the EWI MProject mentoring program.
The best ideas for conceiving, planning and launching a successful new business are hidden deep below the surface. So deep, in fact, it’s in the DNA.
That’s why MProject uses the model for replicating DNA in relating a business idea called “upgrading” to our MProject students. We present a framework for enhancing an existing idea, service or product as part of our core curriculum.
First, we start with the strand “Design” by asking the question: Which elements of the idea or product have never been offered (innovative approach) in the marketplace? This allows them to brainstorm ideas about what more can be brought to the table and offered.
Then we move to the strand “Reduce” where we ask the question: Which elements should be reduced below current industry standard? Meaning, is there value being wasted on segments of the current offering that are no longer viable due to market innovation?
After reduction, we then move to “Increase” and ask the question: What elements of the idea should be raised above industry standard? This provides the ability to leverage a current value position that the marketplace has proven to value more than originally anticipated.
Finally, we end on the strand of “Subtraction” of the current upgraded design with the question: Which elements should be eliminated? This is where a critical look at the idea, service or product takes place. The reason we this is to reduce the offering to its simplest and purest form.
For more information about MProject, please email me at firstname.lastname@example.org.