Programming in The Hub is designed around best practices for early-stage entrepreneurship and design thinking. It focuses on the validation of business concepts leading to both innovation and commercialization.
Phase 1: Build Stage
During the Build Stage, you are working on your idea and wrapping your head around how to launch your idea, whether it is create a product, launch a social enterprise, or build a corporate venture. This is an “ideation” stage, where you are scoping out your idea and what it means and what it will take to give it shape. You are introduced to the concept of Lean Startup, an approach developed and promoted by Eric Ries and a recognized best practice in entrepreneurship.
During the build stage, you will come to recognize the value(s) your idea has and to whom (value propositions), and you will examine the means to become viable and sustainable.
There are different times of ideas that fall under The Hub’s Build Stage:
- Corporate venture
- We have worked with several startups that were aiming for Angel funding and Venture Capital support; this has included helping a team get on the Dragons’ Den TV show.
- Creative Business
- We have worked with artists, actors, and musicians in helping them build sustainable businesses around their art; this has included the offering of original music scores for film and video games.
- We have worked with startups forming a not-for-profit business; this has included assisting in the development of an online peer-to-peer mental health magazine.
- Personal Brand
- We have worked with startups creating their own personal brand; this has included helping in the creation of life coach offerings and lifestyle brands.
- Social Enterprise
- We have worked with startups in building social enterprise; this has included assisting in the creation of environmental businesses.
- Product Development
- We have helped startups in the process of product development; this has included the manufacturing process.
All together, as of this writing, we have helped 90 startups create their business since the Fall of 2015.
Phase 2: Growth Stage
During the Growth Stage, you are launching your idea. This is where you are “going out the door” and scrambling to pivot and grow your idea into a sustainable offering. Landing deals is important. Growth of your offering is important, be it users signing on to your platform, customers buying your products or services, or people looking to engage with you. Pricing is important. In short, you are becoming a viable business.
For some, this will be the stage where you grow in your operation and offering to the point where you look for investment.
During the Growth Stage, you will learn the importance of marketing, market validation, and pricing, and the role of sales in terms of building growth and sustainability. We work with you up to the point of Angel investment, preparing you to take that next step. Or, if you are not going the investment route, we work with you up to the point of achieving $10,000 in revenue, and launching your idea with open doors.