4S Business Viability Assessment™: Cocktail Party Conversation
4S Business Viability Assessment™: Cocktail Party Conversation
as much as it should. In fact, it's one of the first questions that should ever be asked by an inventor
simply because if you can't determine market viability of a product your invention is nothing but
a cocktail party conversation. It will never go anywhere in terms of distribution or sales, and it will
never make you any money, not real money anyway....so why bother?
What is “Market Viability” anyway? Simply put, it’s really three things rolled into one. So we’ll start by
explaining the things that make up this concept.
-Acceptance viability - The acceptance of your product by the consumer (the market) that is, your
product solves a problem, fills a need, creates a fad, or in some way is embraced by the consumer in
such a fashion that they will trade you their hard earned money in exchange for having it. Your
product, in short, brings value to the consumer’s life.
-Production viability – It can be manufactured using materials and methods that result in the
product doing what you claimed it can do in a way that provides quality of the physical product itself.
It’s not going to fall apart after a few uses and it’s not going to cost a ton of money because of how
it’s made and what it’s made with.
-Fiscal Viability – The math adds up. The product can be manufactured, shipped, displayed, fulfilled,
discounted, sold, and royalties paid all for a cost reasonable to the consumer. Now, keep in mind as a
rule of thumb, you will be accomplishing all this for about ½ the retail price the consumer would pay.
Example= If the item would sell for $10.00 in a store, you have to get that entire math problem done
for about $5.00. In some cases as low as about $3.00 per unit…
Consumers buy products for the benefits they provide, not for the technology underlying
the product. You probably have a mental picture of your idea or innovation expressed
as a product or process of some kind. You have in mind how that final product or
process looks, feels, provides benefit and, ultimately, will be used. The end point of this
feasibility exercise is to determine how you will make a sustainable profit from your idea.
If you can show that your idea has commercial feasibility, the next step is to explore
how to turn it into a product or process. Ask yourself whether you have:
Market Viability explores the relationship between the company and its served
markets. In this area we are assessing the general understanding of the market place,
the costing and pricing systems utilized by the company, the degree and effectiveness of
promotional activities, customer demographics, and the movement of products and/or
services from the company to the customer.
Product Viability assesses the relevance of company products and/or services to the
wants and needs of the served markets. In this section we are evaluating the process
through which concepts and revisions are managed and moved to market, the breadth
and depth of product and /or service offerings, and the relationship between company
product and/or service offering features and end user benefits.
Competitive Advantage Viability evaluates the strength and sustainability of the
company’s competitive advantage. In this area we assess the source(s) of competitive
advantage, the level of understanding of customer buying preferences, and barriers to
competitive entry to served markets,
Management Model Viability is one of the two foundational components of the
Foxwood Business Model Viability Assessment. In this section we are evaluating
management strength, structure, and depth. We explore the decision making process,
training and cross-training, management capability and capacity to effectively lead the
organization in a sustainable growth mode, management systems and processes, and
general leadership capabilities.
Operational Viability assesses the company’s ability to operate effectively and
efficiently at current and projected volume levels. In this area we evaluate process
documentation and control, the ability of the organization to handle future growth, the
company’s supply chain, and the manner in which physical assets are deployed and
maintained.
Economic & Financial Viability is one the second of the two foundational
components of the Foxwood Business Model Viability Assessment. In this complex area
we assess key financial and economic criteria using the previous twelve months of
financial data. We evaluate balance sheet strength based on key solvency and safety
metrics, the capital structure or the organization, profitability, and cash management.
Stakeholders can use the results of the 4S Business Viability Assessment™ as input data
for critical business decisions as well as a road map for moving forward and improving
and enhancing business viability.
What Is an Exit Strategy?
An exit strategy is a contingency plan that is executed by an investor,
trader, venture capitalist, or business owner to liquidate a position in a financial
asset or dispose of tangible business assets once predetermined criteria for
either has been met or exceeded.
Other reasons for executing an exit strategy may include a significant change in
market conditions due to a catastrophic event; legal reasons, such as estate
planning, liability lawsuits or a divorce; or for the simple reason that a business
owner/investor is retiring and wants to cash out.
Business exit strategies should not be confused with trading exit strategies used
in securities markets.
KEY TAKEAWAYS
For traders and investors, exit strategies and other money management
techniques can greatly enhance their trading by eliminating emotion and reducing
risk. Before entering a trade, an investor is advised to set a point at which they
will sell for a loss and a point at which they will sell for a gain.
Money management is one of the most important (and least understood) aspects
of trading. Many traders, for instance, enter a trade without an exit strategy and
are often more likely to take premature profits or, worse, run losses. Traders
should understand the exits that are available to them and create an exit strategy
that will minimize losses and lock in profits.
If cash flow draws down to a point where business operations are no longer
sustainable and an external capital infusion is no longer feasible to maintain
operations, a planned termination of operations and a liquidation of all assets are
sometimes the best options to limit any further losses.
Most venture capitalists insist that a carefully planned exit strategy be included in
a business plan before committing any capital. Business owners or investors may
also choose to exit if a lucrative offer for the business is tendered by another
party.
Ideally, an entrepreneur will develop an exit strategy in their initial business plan
before launching the business. The choice of exit plan will influence business
development decisions. Common types of exit strategies include initial public
offerings (IPO), strategic acquisitions, and management buy-outs (MBO).
The exit strategy that an entrepreneur chooses depends on many factors such as
how much control or involvement the entrepreneur wants to retain in the
business, whether they want the company to continue to be operated in the same
way, or if they are willing to see it change going forward. The entrepreneur will
want to be paid a fair price for their ownership share.
A strategic acquisition, for example, will relieve the founder of their ownership
responsibilities, but will also mean giving up control. IPOs are often considered
the ultimate exit strategy since they are associated with prestige and high
payoffs. Contrastingly, bankruptcy is seen as the least desirable way to exit a
business.
In the context of trading, exit strategies are extremely important because they
assist traders in overcoming emotion when trading. When a trade reaches its
target price, many traders become greedy and hesitate to exit for the sake of
gaining more profit, which ultimately turns winning trades into losing trades.
When losing trades reach their stop-loss, fear creeps in, and traders hesitate to
exit losing trades causing even greater losses.
There are two ways to exit a trade: by taking a loss or by making a gain. Traders
use the terms take-profit and stop-loss orders to refer to the type of exit being
made. Sometimes these terms are abbreviated as "T/P" and "S/L" by traders.
Take-profit orders are similar to stop-losses in that they are converted into
market orders to sell when the limit point is reached to the upside. Take-profit
points adhere to the same rules as stop-loss points in terms of execution on the
NYSE, Nasdaq, and AMEX exchanges.
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Definition of implicit
1a: capable of being understood from something else though
unexpressed :IMPLIEDan implicit assumption
b: involved in the nature or essence of something though not revealed,
expressed, or developed : POTENTIALa sculptor may see different
figures implicit in a block of stone— John Dewey
cof a mathematical function : defined by an expression in which
the dependent variable and the one or more independent variables are not
separated on opposite sides of an equation— compare EXPLICIT SENSE 4
2: being without doubt or reserve : UNQUESTIONINGan implicit trust
explicit
adjective
ex·plic·it | \ ik-ˈspli-sət \
Definition of explicit
1a: fully revealed or expressed without vagueness, implication,
or ambiguity :leaving no question as to meaning or intentexplicit instructions
b: open in the depiction of nudity or sexualityexplicit books and films
2: fully developed or formulatedan explicit planan explicit notion of our
objective
3: unambiguous in expressionwas very explicit on how we are to behave
4of a mathematical function : defined by an expression containing
only independent variables— compare IMPLICIT SENSE 1C
Other Words from explicitSynonyms & AntonymsChoose
the Right SynonymMore Example SentencesLearn More
about explicit
Other Words from explicit
explicitness noun
Synonyms & Antonyms for explicit
Synonyms
clear-
cut, definite, definitive, express, specific, unambiguous, unequivocal, univocal
Antonyms
Some of these motifs are familiar from Harkin’s previous Hamiltonian show,
whose ecological message was more explicit.— Mark Jenkins, Washington Post, "In
the galleries: An exhibition that draws attention to overlooked issues," 23 Aug. 2019Trump’s
racial views are made explicit by his rhetoric and actions toward people of
color; no interpretation necessary.— Matt Ford, The New Republic, "Donald Trump’s
Guide to Racism," 13 Aug. 2019
These example sentences are selected automatically from various online news sources to reflect
current usage of the word 'explicit.' Views expressed in the examples do not represent the opinion of
Merriam-Webster or its editors. Send us feedback.
See More
LAIM
Definition of Claim
In literature, a claim is a statement that asserts something to be true. A claim
can either be factual or a judgment. Claims can work on their own or in
conjunction with other claims to form a larger argument.
The word claim comes from the Latin word clamare, which means “to cry out,
shout.” Thus, the definition of claim comes from this idea of crying out a
proposition, which can then be argued, verified, or disproved. There are many
other contemporary definitions of claim, such as to assert ownership of, to
have, or to call for. However, in literature, claims have a special function of
presenting the author’s main ideas or opinions which he or she can later
support with more evidence.
But one hundred years later, the Negro still is not free. One hundred years
later, the life of the Negro is still sadly crippled by the manacles of
segregation and the chains of discrimination. One hundred years later, the
Negro lives on a lonely island of poverty in the midst of a vast ocean of
material prosperity. One hundred years later, the Negro is still languished in
the corners of American society and finds himself an exile in his own land.
And so we’ve come here today to dramatize a shameful condition.
Despite the striking fact that most of the scientists that the world has ever
known are alive and working today, despite the fact that this Nation’s own
scientific manpower is doubling every 12 years in a rate of growth more than
three times that of our population as a whole, despite that, the vast stretches
of the unknown and the unanswered and the unfinished still far outstrip our
collective comprehension.
Literary Devices
Literary Devices, Terms, and Elements
HOME
LIST OF LITERARY DEVICES
CITATION
1
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CLAIM
Definition of Claim
In literature, a claim is a statement that asserts something to be true. A claim can
either be factual or a judgment. Claims can work on their own or in conjunction with
other claims to form a larger argument.
The word claim comes from the Latin word clamare, which means “to cry out, shout.”
Thus, the definition of claim comes from this idea of crying out a proposition, which
can then be argued, verified, or disproved. There are many other contemporary
definitions of claim, such as to assert ownership of, to have, or to call for. However, in
literature, claims have a special function of presenting the author’s main ideas or
opinions which he or she can later support with more evidence.
But one hundred years later, the Negro still is not free. One hundred years later, the
life of the Negro is still sadly crippled by the manacles of segregation and the chains
of discrimination. One hundred years later, the Negro lives on a lonely island of
poverty in the midst of a vast ocean of material prosperity. One hundred years later,
the Negro is still languished in the corners of American society and finds himself an
exile in his own land. And so we’ve come here today to dramatize a shameful
condition.
Despite the striking fact that most of the scientists that the world has ever known are
alive and working today, despite the fact that this Nation’s own scientific manpower is
doubling every 12 years in a rate of growth more than three times that of our
population as a whole, despite that, the vast stretches of the unknown and the
unanswered and the unfinished still far outstrip our collective comprehension.
The famous poem “The Road Not Taken” by Robert Frost contains the audacious
claim that “Two roads diverged in a wood, and I— / I took the one less traveled by, /
And that has made all the difference.” Much has been made of this example of claim,
and interpreted in many different ways. In short, Frost makes the claim that a simple
choice when he was younger has affected the entire rest of his life.
Example #4
“Remember it’s a sin to kill a mockingbird.” That was the only time I ever heard
Atticus say it was a sin to do something, and I asked Miss Maudie about it.
“Your father’s right,” she said. “Mockingbirds don’t do one thing but make music for
us to enjoy . . . but sing their hearts out for us. That’s why it’s a sin to kill a
mockingbird.”
3. Consider the following excerpt from Robert Frost’s poem “Mending Wall”:
by Taboola
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Claim Definition
Premise 1
Premise 2
Premise 3 …
Premise N
Therefore,
Conclusion
In this model, the symbol and the dots before it signify that the number of
premises used for proving an argument may vary. The word “therefore” shows
that the conclusion will be restating the main argument, which was being
supported all the way through.
With the help of a claim, one can express a particular stance on an issue that
is controversial, so as to verify it as a logically sound idea. In case of a
complex idea, it is always wise to start by classifying the statements you are
about to put forward. Many times, the claims you make stay unnoticed
because of the complex sentence structure; specifically, where the claims and
their grounds are intertwined. However, a rhetorical performance, such as a
speech or an essay, is typically made up of a single central claim, and most of
the content contains several supporting arguments for that central claim.
Types of Claim
There are many types of claim used in literature, and all of them have their
own significance. The type that we will be discussing here has great
importance in writing and reading about literature because it is used frequently
to build arguments. It is called evaluative claim.
You can easily find evaluative claim examples in book reviews. This type is
about assessing an argument, or the entire essay on ethical, social, political,
and philosophical grounds, and determining whether an idea is wise, good,
commendable, and valid. The evaluative and interpretive claims typically
consist of well-versed viewpoints. Where interpretive claims strive to explain
or clarify the views communicated in and by the text, evaluative claims study
the validity of those views by drawing comparison between them and the
writer’s own opinions.
Claim Examples
Interpretive Claims
Example #1: Animal Farm (By George Orwell)
The great thing about Animal Farm by George Orwell is that it has presented
all animals equal in the eyes of the laws framed by them. They framed Ten
Commandments when they expelled Mr. Jones from Manor Farm, and this
rule, “All animals are equal,” became a shibboleth for them.
Evaluative Claims
Example #2: Animal Farm (By George Orwell)
As the majority of the animals were in the process of framing rules, it was
understood that, although rats and several other animals were not present,
whatsoever had four legs is an animal, and therefore is equal to any other
animal. Hence, a general rule was framed that whatever walks on four legs is
good. Later on, birds (having two wings and two legs) and other non-four-
legged animals were also considered as animals. Therefore, all are equal.
Now this argument clearly shows the judgment given at the end, but it is after
evaluation of the whole situation presented in the novel. This is called
evaluative claim.
Function of Claim
Hence, the dissimilarities are subtle, and can only be identified after close and
profound observation; but all things considered, they are important. Thus, lest
it is suggested you do otherwise, you must always leave the evaluative claims
for conclusions, and make your essay an interpretive claim.
Types of Claims
1. Claims of Fact. (existence of something/definition or
classification/facts -- inferences about past present or future)
1. Factual / historical
2. Relational - causal connections
3. Predictive
proof requires:
proof requires:
proof requires: