1. Idea Stage: Identify a Good Opportunity and Develop a Conceptual Business Model

By this stage, you’ve had the spark of an idea and are exploring its potential. However, the difference between a fleeting idea and a strong opportunity lies in understanding the market shift you’re playing into and the problem you're solving.

Example: Imagine you’ve identified a gap in the personal wellness market. Instead of just “building an app for fitness,” you define your opportunity as “a micro-learning platform for busy professionals, offering personalized 10-minute wellness routines.” You’d map out the customer, competitors, and potential pricing within a simple business model template to evaluate feasibility and focus your approach.

2. Business Plan Stage: Get Clear on How to Execute to Achieve Product-Market Fit

Once the opportunity is identified, it’s time to formalize a roadmap. This is where you define clear objectives, refine your business model, and align resources to ensure execution is laser-focused.

Example: For the wellness app, your business plan would outline milestones: securing partnerships with wellness coaches, developing a minimal feature set for MVP testing, and defining metrics for engagement and retention (e.g., 5 minutes per session on average).

3. MVP Stage: Drive the Transformational Product Roadmap and Market Validation

At this stage, you’re building your Minimum Viable Product (MVP), focusing on solving the core problem effectively. This isn’t just about coding a prototype but creating a transformational product that sets you apart.

Example: Instead of creating a full-featured app, your MVP might include just 3 wellness routines delivered through a simple web-based app. You test it with 100 professionals and track their feedback, usage patterns, and willingness to pay. Iterative testing ensures you’re solving real problems.

4. Early Adopter Stage: Manage Promotional Launches to Attract Early Adopters

Now, it’s time to get your first users. These are the customers who are willing to take a chance on your product because they’re desperate to solve the problem you address.

Example: For the wellness app, you target early adopters by partnering with corporate HR teams looking for unique employee wellness solutions. Offering a discounted pilot for a 3-month period helps you gain insights and testimonials while demonstrating value.

5. First Funding Stage: Launch a Full Campaign to Attract Interest and Cross-Validate

Whether you’re bootstrapped or fundraising, this stage ensures you have the resources to grow. Funding campaigns also serve as market validation.

Example: You approach angel investors and wellness enthusiasts, pitching your product alongside testimonials and early data showing 60% of trial users engaged weekly. Your campaign outlines your expansion plan, including enhanced features and broader market penetration.

6. Team Forming Stage: Manage Effective Review and Planning in Set Cycles

Growth demands more hands on deck, but hiring too quickly or inefficiently can derail progress. Define roles, processes, and systems to maintain momentum.

Example: You bring on a product manager and a sales lead. Weekly sprint reviews keep the team aligned, and a quarterly review ensures you’re staying on track with your growth roadmap.

7. Product Selling Stage: Establish a Reliable Process to Drive Traffic and Conversions

Scaling product sales requires consistent traffic and optimized conversions. This is where demand generation and funnel optimization become critical.

Example: You launch a content-driven strategy with blogs, webinars, and LinkedIn ads targeting busy professionals. You also refine your website’s landing pages to focus on clear CTAs like “Start Your Free Trial,” tracking every conversion point.

8. Growth Stage: Leverage Defined Iterations to Achieve Product-Market Fit and Beyond

Growth is iterative. At this stage, it’s about optimizing your processes and refining your product to deepen engagement and expand the market.

Example: With steady traffic, you identify friction points in the user journey through heatmaps and surveys. Rolling out a redesigned onboarding flow and personalized notifications boosts weekly active users by 15%.

9. New Offer Stage: Optimize Processes to Launch Additional Offers or Pivot

Once you’ve solidified your position, adding complementary products or services can unlock exponential growth. Alternatively, a pivot may be necessary if market conditions shift.

​Example: After success with the wellness app, you launch a new feature for team challenges to drive engagement in corporate settings. This adds a gamification layer and increases user retention by 25%.