Entrepreneurship is exciting. When you have the opportunity to make your idea come to life and start your dream business, it can be difficult to think about anything else, especially evaluation. However, there is a place where evaluation and entrepreneurialism intersect. Regardless of what stage your business is in, it is important to be constantly evaluating and adjusting based on data.
Think of it this way: if you are not evaluating each step of the way, you will not know what data you should be measuring to determine success. Especially when you are implementing federal, state, or privately-funded funding. It is critical to collect data and evidence in order to determine outcomes. This will help you understand not only the results of the grant or new program but all of the steps that led you to that success, making it much easier to replicate in the future. Taking these steps in your evaluation will also help ensure that you are taking your new business in the right direction, and can help you avoid any unwanted roadblocks in the future.
We work with high-growth startups and organizations that support the startup and innovation ecosystem. We build highly specific non-dilutive funding menus, provide proposal preparation services, and measure outcomes of funding through evaluation. Schedule a consult call with us HERE.