Getting Started

Morrisville Innovation Foundation has brought together a team of advisors and mentors to encourage, inspire, and guide HOTTovation participants through the crucial steps in starting their businesses.  It is easy to go in a direction that wastes time if you do not first employ marketing and financial analyses. If you cannot forecast your financial needs, you cannot be sure if your business is worth the financial risks involved in its startup. If you do not clearly know who your competitors are, and who your customers will be, you will not know how to set up your business for success. Building a business plan is difficult to do when you are first starting and there are so many unknowns. However, it is well worth the effort. The business plan acts as a resume for your business. Even though it will change as your business progresses, an organized plan can help you stay on course. It can also be a great tool to use if your financial needs change, and investment funds or bank loans need to be secured.