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SNAPSHOT
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It’s a common scenario. A start-up venture with a unique invention finds itself at a crossroads. The start-up managers are ill equipped to operationalize the business in order to maximize growth opportunities.
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Spurring on a Start-up
The founder
of a start-up venture in the “Wellness” industry had attracted investors,
created the company, and initial business surpassed expectations.
But success brought challenges – including defining a strategy to
pursue the next growth phase.
The founder recognized that his team’s strongest assets were ingenuity
and creativity. But they lacked business planning and operational
acumen. They lacked the skills and experience to establish Clarity
and shape the future. He engaged Innolect Associates to design and
conduct a series of strategic planning meetings, as well as monitor
progress toward action items. In addition, Innolect Associates provided
one-on-one coaching to team members.
The planning sessions achieved:
- A future vision, mission, purpose and values set for the company and its lead products
- Clearly articulated goals
- Roles, responsibilities and an organizational chart
- Quantifiable milestones and measures
Results. Despite statistics showing that
most start-ups fail soon after inception, the company thrived, increasing
revenues 35 percent within the year after the planning session.
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