This article presents guidelines for improving market focus and self-assessment in new venture creation, aiding stakeholders.
When assisting stakeholders developing new value-added businesses, Extension faculty need to direct their attention to market research and the assessment of their clients' strengths/weaknesses prior to the development/launch of their product. This article presents two rules, "know thy customer " and "know thy self," and supporting details to help in the new venture creation process. The rules were developed based on two Extension programs in value-added centers. The information will help Extension agents understand the need to pay closer attention to markets and management when helping their clientele, and they will be able to communicate that need to them.
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Johnson et al. (2006) studied this question.
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