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The New Business Road Test: Your Connections Matter!

Explore the importance of connectedness in business and how it can strengthen communication, intelligence gathering, and strategic decision-making. Understand the significance of connections up, down, and across the value chain, and how it can impact timely delivery, revenue targets, competitive positioning, and long-term success. Discover the keys to building the right connections and passing the Connectedness Test to impress investors.

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The New Business Road Test: Your Connections Matter!

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Presentation Transcript

  1. The New Business Road Test “Your connections matter: which matter most?” Connectedness up, down, across the value chain

  2. The New Business Road Test What is Connectedness? • Relates to the strength of communication and intelligence gathering which exists between the firm and the customer, suppliers and other key contacts in the industry • Up the value chain to suppliers • Down the value chain to customers • Across the value chain to industry players

  3. The New Business Road Test Why is Connectedness Important? • Timely delivery of intelligence from quality connections provide the entrepreneur with an opportunity to respond quickly to changes taking place in the market, industry and macro environment

  4. The New Business Road Test Connections Up The Value Chain • Connections with suppliers • Enhances the likelihood you will obtain the inputs you need at favorable cost and on favorable terms

  5. The New Business Road Test Connections Down the Value Chain • Connections with customers • Enhances the likelihood your venture will meet its revenue targets

  6. The New Business Road Test Connections Across the Value Chain • Connections across your industry • Enhances your understanding of the competitive situation • Helps you differentiate and position your products

  7. The New Business Road Test Long-term Perspectives on Connectedness • With connectedness up, down and across the value chain you are in a much stronger position to change strategy should the need arise (Plan B) • It reduces the risk of failure!

  8. The New Business Road Test Investors want to know… • The management team has the right connections up, down and across the value chain

  9. The New Business Road Test NBRT Stage 7: The Connectedness Test • Know your suppliers, potential suppliers and suppliers to industries that offer substitute products • Know your customers and potential customers • Know your competitors and also providers of substitute products

  10. The New Business Road Test Discussion In relation to your own “entrepreneurial dream”, describe the links you have in place to ensure connectedness up, down and across the value chain

  11. The New Business Road Test Soul Bakery Case • Apply the connectedness test to Soul Bakery.

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