Begin by idea and research assumptions: It is, without a doubt, more difficult to prove the existence of a market than it is to start developing a product. That reality makes proving assumptions before development even more vital. Like scientists, begin with a strong hypothesis and then test it with different groups of people to try and disprove the theory. In doing so, startupsand intrapreneurs can validate, alter or refute the perceived pain point, and help determine market size and revenue potential.

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4 Steps For Intrapreneurs To Succeed In
A Corporate World
Hello friends, this is our 2nd
part of Intrapreneurs Week Series and today we
define how intrapreneurs carry out their designated work amidst the race of
delivering objectives under curtailed time and resources. It’s a great piece of
study for all intrapreneurs, entrepreneurs and corporate guys.
In today’s ‘Age of Innovation,’ there are certainly competitive pressures and
financial incentives for corporations to innovate faster than the competition. So,
here four steps defined by experts to development success:
Begin by idea and research assumptions: It is, without a doubt, more
difficult to prove the existence of a market than it is to start developing a
product. That reality makes proving assumptions before development even
more vital. Like scientists, begin with a strong hypothesis and then test it with
different groups of people to try and disprove the theory. In doing so, startups

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and intrapreneurs can validate, alter or refute the perceived pain point, and
help determine market size and revenue potential.
Define the value proposition: According to Forbes, “developing strong value
propositions not only makes it easier to connect with target audiences but it
establishes a foundation upon which a company’s marketing and sales activities
can be built upon.” Equipped with market research and validated assumptions,
you can objectively define a value proposition. When completed, the value
proposition should, in detail, address:
1) What your company or product does,
2) What the value or benefits are and
3) Why it stands apart from everything else in the market.
Launch a marketing initiative: Believe it or not, marketing should begin
before a single line of code is written. While we’ve shown the downsides of
building a product before building an audience, many companies have found
success with a lean startup and traction marketing approach to development.
Rather than launching to an untested market, successful corporate innovators
can build their product offering and audience concurrently. Intrapreneurs that
stay back on marketing until a product is finished may have unintentionally
made failure more likely, as the product will launch without any awareness,
demand or initial sales.
Focus on a minimum viable product: Corporate innovators are often under
pressure to deliver a close to perfect product on the first try. But the far more
effective strategy, as recommended in the Lean Startup Methodology, focuses
on building an MVP and iterating the product based on user feedback. With
assumptions validated and the value proposition defined, the product
development team has a strong roadmap for essential workflows, features and
functionality to build.

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Once assumptions are validated and the value proposition is defined, the
product development process doesn’t need to take months or years but only 90-
120 days to complete an MVP.
All the above mentioned steps work in tandem in a product development cycle
whose stages are:
 Introduction Stage
 Growth Stage
 Maturity Stage
 Decline Stage
Critical to being ready for innovation is demonstrating values and commitment
that are in line with progress. Organizations need to adopt a mindset that not
only tolerates, but celebrates risk and failure. To create context for innovation,
you not only need space, but also time. Organizations with successful
intrapreneurs show they value innovation by providing the time and mental
space for it.
(References: specialupdated.online, classy.org)