David Moss from Thaces LLC is joining us on Business Brain to discuss operationalizing your business. Having worked in technology sales, executive management, and business development, David will explain how to go about creating and launching a business, including the options to consider for funding and how to validate a concept.
- 00:00:00 Business Brain – The Entrepreneurs’ Podcast #441 for Wednesday, April 19th, 2023
- 01:12 GUEST: David Moss from Thasis LLC helps Operationalizing Your Business
- 00:06:37 SPONSOR: Headspace helps improve mental health – through guided meditations, mindfulness practices, breathing and calming exercises, and so much more. try Headspace FREE for 30 days by going to Headspace.com/BRAIN30.
- 00:08:40 Operationalizing Your Business
- Validation – Find the Facts that You Have a Customer Base
- Price – What’s the value point where YOU can make money?
- Operationalizing the Company — What does the company need? Salespeople? Regulatory approval?
- Financing — How can I get grants, angel funding, private equity?
- 00:14:12 Successful entrepreneurs forget about trying to be creative
- 00:18:10 Don’t Avoid Spending Money
- 00:24:52 BB 441 Outtro
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## Operationalize for business success.
Operationalizing a business is an important step to success. It involves taking a concept and turning it into an actionable plan. By understanding the process of operationalizing a business, entrepreneurs can increase their chances of success.
David Moss has extensive experience in operationalizing businesses. He has worked in technology sales and executive management, and was responsible for business development at Siemens. When starting a new business within a company, it is important to come up with a concept, validate it, and figure out how to operationalize it. This includes deciding whether to build or buy.
Moss also has experience in operationalizing a business from a startup perspective. He helped start a medical device company that used AI technology to analyze X-rays pixel by pixel. By understanding the process of operationalizing a business, the company was able to validate the market and put together the right plan to move forward.
Operationalizing a business is an important step for entrepreneurs to take in order to be successful. It involves taking a concept and turning it into an actionable plan. By understanding the process of operationalizing a business, entrepreneurs can increase their chances of success. David Moss’ experience in operationalizing businesses provides valuable insight on how to do it right.
## Validate product before launching.
One of the most important steps in operationalizing a business is to validate the product. Before investing time and money into a concept, entrepreneurs should make sure that it is valuable and that there is a market for it. This can be done by researching the industry, talking to potential customers, and getting feedback from experts. By doing this, entrepreneurs can ensure that their product is both desirable and feasible.
Another important step is to understand the different ways to finance a business. While venture capital is often seen as the “gold standard” for financing, there are other avenues that may be more suitable for a particular business. For example, crowdfunding, angel investors, and grants are all viable options that entrepreneurs should consider.
Finally, entrepreneurs should understand the importance of marketing. While having a great product is important, it is only half the battle. The other half is getting the word out and connecting with potential customers. This can be done through digital marketing, networking, and other forms of outreach.
In conclusion, operationalizing a business is a complex process that requires careful consideration and planning. By validating the product, understanding the different ways to finance a business, and understanding the importance of marketing, entrepreneurs can increase their chances of success.