BIZ-DEV - When is the right time for new business development?

BIZ-DEV - When is the right time for new business development?
(CopyRight 2009; Benjamin Goh, www.bensglobal.com)

B for Business-readiness. Is the organization ready for new business?

I for Innovation. Is the new business idea innovative enough to differentiate one from the competition and has a competitive advantage?

Z for Zest. Is the team behind the business corporately and individually motivated in all aspects to see this new business through the initial upclimb?

D for Destination. Is the target goal.. mission and vision clear with measurable result(s) and time line(s)?

E for Environment. Is PEST (Political, Economical, Social and Technological) analysed thoroughly, reviewed and accepted by all members of the new business development team?

V for Value. Is the value chain of the entire new business development project carefully analysed and value ensured for all involved in the value chain?

If our answers to the above questions are YES, then we will confidently know that its time for launching the new business! Enjoy and Persevere ... the sky is the limit!