The First 6 Phases of Incubation

When I first started my Entrepreneur Incubator back in 2004, people started to ask me about eggs and chickens. At first, I was confused, but then I realised that the only reference they had to the word incubation was for hatching eggs or premature babies. It took several years for the term to be accepted as a business development phase.

Today, we have business incubators in most cities around the world, and not trying to hatch eggs, but grow unicorns.

I have been able to summarise the development of a business into 12 different phases. Each phase is not necessarily distinguishable from the others, but the milestones are clear and should become a part of any business development or growth plan. Here are the first 6:

Likeable: the personality of the business owner or entrepreneur has traction within the community and the sector in which they operate. Reputation.

Possible: the product offering is mapped out and, on paper, is possible to do, using the current resources.

Plausible: when the idea is shared with others, they lean in and do not run for the door.

Feasible: this is both financial and resource confirmation that it can and will work.

Sociable: Does the idea agree with the community, environment and business rules of engagement?

Employable: Do others want to work with you, not just for the money but for the cause?

Each of these phases works closely with the business plan and development canvas, but they are clear milestones that need to be included in the process of development. The next 6 are in the following post.