Part 2: Developing opportunities

You are part of a small team that is developing an innovative product or service. It is a great opportunity but first you have to address the following barriers in order to make this a reality: (a) limited financial resources, (b) few contacts in the industry, (c) no established reputation and public profile.

Prepare a short report, outlining three actions you would take to address these issues.

Your report should include the following sections:

1. Introduction: begin with a very brief outline of your innovative product or service, to provide a background for the rest of the report. This should be no more than one paragraph, which could be illustrated with a suitable image (e.g. a drawing of the kind of product or service you are seeking to develop)
2. Three action points: explain how you would begin to address the three barriers identified in the question (i.e. limited financial resources, few contacts in the industry, no established reputation and public profile)

Your action points must address the three barriers identified in the question.

• 'Building legitimacy in a new venture'
• 'Network perspectives'
• 'The financing challenge'