In the PoC phase, you turn your idea into reality: check whether the idea is technically feasible and works the way you have in mind. The Technology Readiness Level (TRL) helps you understand the extent to which your technology is developed. That said, it’s not just about technology! A strong team and sufficient resources are just as important. Smart project management keeps everything on track and prevents problems such as delays and extra costs, especially if you are collaborating with other parties.
"}},{"componentType":"sectionTitle","title":"Proof of Market (PoM): from concept to success"},{"componentType":"paragraph","richBody":{"value":"Once your technology is on point, dive into the PoM phase. Here, everything revolves around the question: does the market want what you have to offer? So, here you explore whether your product is commercially viable. Market analysis is obviously crucial here, but beware of inaccurate data and wrong assumptions. Keep a close eye on your competitors and find out what your target audience really wants. A product that doesn’t align with your customer’s needs has a tough challenge ahead of it.
"}},{"componentType":"sectionTitle","title":"Smart risk management: from risk to great opportunity"},{"componentType":"paragraph","richBody":{"value":"Above all, doing business is about transforming risks into opportunities. A thorough risk analysis is your compass, helping you spot and manage potential obstacles in time. It’s about assessing risks, evaluating their impact, plus devising clever strategies to mitigate them. By being straight with your stakeholders, you build trust and create a risk-aware, resilient culture within your team.
"}},{"componentType":"sectionTitle","title":"Use powerful models for success"},{"componentType":"paragraph","richBody":{"value":"Deploy useful tools such as the Business Model Canvas, Value Proposition Canvas, Customer Journey Mapping, DESTEP Analysis, Porter’s 5 Forces Model and Blue Ocean Strategy Canvas to spot opportunities and stay one step ahead of any threats. These models will give you a clear insight into your strengths and weaknesses. Our partner Voka offers guidance and support to turn your challenges into concrete actions. Better yet, integrate them appropriately into your business plan.
With thoughtful preparation and a healthy dose of courage, you will realise your ideas. Step by step, you will grow from concept to impact, and ultimately to sustainable growth and success. Build your dream, be strategic and confident: let your start-up shine!
"}},{"componentType":"sectionTitle","title":"It’s up to you now!"},{"componentType":"paragraph","richBody":{"value":"Do you want to take your entrepreneurial idea further and are you looking for guidance? Make sure you discover what Voka has to offer you at Bryo StandUp.
"}},{"componentType":"highlight","richBody":{"value":"Do you have any questions or are you looking for additional information?
Dive into ING’s start-up facts and discover the step-by-step plan.
"}},{"componentType":"cta","textLink":{"text":"Set your business up for success","url":"/en/business/starters/starterspackage-current-account"}}]},"hasMacro":false,"id":"0c846cae-71c6-44a0-8957-1fbdc052c11e","legalZone":{"flexComponents":[{"componentType":"paragraph","richBody":{"value":"This article is for information purposes only and the information can change over time. Always consult the latest rules and requirements with the competent authorities. Additionally, seek professional advice before making any decisions. ING Belgium NV cannot be held liable for decisions based on the information provided.
*ING Belgium reworked an article by Voka for commercial purposes.
"},"title":"Disclaimer"}]},"localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Starting your business","url":"/en/business/starters"}},"componentType":"editorialHeader","coreHeader":{"body":"Have you got your excellent idea all worked out and are you brimming with entrepreneurial energy? Then you’re off to a flying start! But to turn your idea into a thriving business, you need more than just enthusiasm. A smart strategy and an understanding of potential pitfalls make all the difference. Two essential steps during your exciting entrepreneurial adventure? The Proof of Concept (PoC) and the Proof of Market (PoM): together they will form the basis for your successful venture.\r\n\r\nRead on and discover in our article, in collaboration with our partner Voka*, how you can hone your entrepreneurial idea and even strengthen it.","title":"From idea to success: inspiring guidelines for starting entrepreneurs"},"date":"2024-09-25","readingTime":0},"publishDate":"2025-06-30T16:55:52.119+02:00"}}