The development stage that the product is at is the final stages of testing and development. Having had all the business prototypes in place, there have been a series of activities that entail pivoting to ensure that the challenges and risks that were not initially foreseen are pointed out and corrected before launching the business ( Earle et al., 2019) . In most cases, modifications of a few aspects of the initial mind map used to develop the business idea have been done. Also, in this stage, there have been repeated revisions of business fundamentals such as the budget and the general required business assets. These ensure that the modification of a few aspects of the idea does not negatively influence the original plan to a large extent. In addition to the above, the implementation of suggestions by the targeted customer base has taken place severally. This has, however, been through blueprints that mimic the actual business idea.
After a cycle of prototype testing and pivoting, the next stage of development of the product will be launching. This stage involves several undertakings that ensure the business is well placed in the market niche it operates in and that it can compete favourably. A marketing plan is one of the most fundamentals inclusions here. Online platforms will be of utmost importance in marketing the business. In this age where technology is one of the most influential forces in ensuring business success, platforms such as social media will be very instrumental. To diversify the marketing plan and ensure that information reaches the target population as planned, there is a need to use other forms of print media such as fliers. Sales training is another important undertaking that is directly or indirectly related to marketing. To approach this, individuals will not only be taught by experts aspects related to the business demonstrated but also to cut on the training cost, they will be highly encouraged to take advantage of free resources available online. Besides the above two indispensable inclusions, in this stage, a collateral design that will give detailed information about the business will be developed.
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Thorough planning and preparation are necessary to get to the next stage. A strategic plan will be put in place. It will not only outline different business undertakings at this stage but most importantly, it will ensure the objectives are achieved on time ( Earle et al., 2019) . Outlining the series of events and allocation of duties to the necessary stakeholders is also important. Financial planning is also crucial. This is to ensure that the launching of the business does not throw it off balance in terms of exhausting the funds meant to run the business before the profits from the business are enough to ensure operational success. It is also necessary to confirm with the distributors that the hardware and software needed to set the business running are available. Other than the above, it is important that the human resource required is on point and that all the employees are well suited to perform their roles. In recruiting the employees, therefore, their skill sets must be matched with their jobs. Even at this early stage of business development, continuously seeking feedback from employees will ensure a conducive business environment is created. This will ensure the employees and the management, in general, are productive. Another most important inclusion here would be a communication plan. This is vital in ensuring an understanding between all the business stakeholders. It will also be indispensable in solving disputes that might arise in these early stages.
References
Earle, A. G., Merenda, M. J., & Davis, J. M. (2019). Strategy-as-Process in a Technology Venture: A Case Study of Pivots, Pauses, Partners, and Progress. Technology Innovation Management Review , 9 (1).
