By definition, a “supplier” is a party that supplies goods or services. In supply chain management, the term “supplier” is used frequently. When a buyer and/or company is looking for the supply of goods or services, one should always choose the party that offers more than just that particular good or service.
Startups often put a great deal of emphasis on engineering, marketing, and sales in the early product development stages. It is no surprise that these three business functions are essential in launching a successful high growth company. There are also circumstances where products are an early grand slam and less of a sales effort is required.
Startups by definition are new, often fragile, organizations that are one or two major commercial mistakes away from going out of business. Thus mitigating major commercial mistakes can dramatically increase a new venture’s chances for long term survival. Further avoiding commercial mistakes all together and instead turning commercial challenges into advantages can position a startup on a path for long term success.
This past week I was honored to share the IndustryStar story and many technology product commercialization lessons learned with a group of University of Michigan MBA students in Professor Jim Price’s Entrepreneurship New Venture Creation class. Included are the Top 3 lessons we shared on technology product commercialization.
The start of a new year is often the time we spend reflecting briefly on the past year and refocusing our efforts on exciting new initiatives for the coming year. Our efforts naturally gravitate toward our own internal team and needs: business plans, program launch followup, component sourcing etc.
Actionable insights from IndustryStar on ways to expedite, optimize, and de-risk your supply chain operations.