Supporting New Business Owners Is a Great Venture

BUSINESS Supporting New Business Owners Is a Great Venture A company that is built ground-up by a person is the most natural and overall best way to conduct business. On the other hand, many business owners new to the field fail due to trivial errors in the very base of their plans. The probability for a company to become established and turn into a successful startup is around 10%. The remaining 90% of business projects usually end after about four years or turn into those that lack prospects for growth and development. The main cause of the phenomenon is that business owners underestimate the actual business side of things. A new business owner generally does not put that much thought into who their product benefits or how it does this; they do not know their target demographic well enough; they did not test their product through customers early enough; they do not have a real business plan; they hesitate to look for investors and so on. These are some of the things that can be done in just a matter of hours or a couple days in the early stages of a project to greatly increase the chances of the project’s success. That is the reason we have founded the non-profit organization Start Up MSK, z.s., offering many programs for people looking to start a business in the Moravian Silesian Region. The base program is called Design Sprint. It is a week filled with workshops that offer new business owners a variety of methods on how to effectively and structurally design, prepare and test their idea for innovation or business and work with experts and established business owners on laying a strong foundation for their future endeavors. Another one of our programs is called Business Grill, which is a three-hour long workshop involving new business owners, potential partners and investors. Each participant is allotted time to present their business intentions, followed by talks of potential cooperation. The goal of this program is to support business ideas and create new synergies. StartUp Voucher is a contest for business projects that wish to present an innovative and scalable product to the market. It is aimed at new business owners that have thought through their business intentions, verified that there is and will be demand for their product and decided to enter the market. At that point, many new business owners will often require funding, which this contest presents the opportunity to receive. POSITIV 4/2021 ǀ 33