Entrepreneurial Development for Lawyers

From Kirsten Osilind’s re:invention blog comes this post about the Women’s Venture Fund (and Martha Stewart’s proposal to work for them in exchange for reduced jail time). The Fund has a 6 Stage Entrepreneurial Development Model that Kirsten summarizes thusly:

stage 1: Desire – a woman entrepreneur has an emerging idea, with no clear sense of what needs to be done.
stage 2: Friends and Family – the entrepreneur has developed a product or service, but they only serve a limited market (friends and family members).
stage 3: Indigenous Neighborhood Market – the entrepreneur continues to evaluate the market opportunity through personal preferences and shopping experiences but begins to extend their product and services sales to strangers.
stage 4: Local Market – the entrepreneur begins to encounter an objective market that has no affiliation to her.
stage 5: Trade Show and Conventions – the true beginning of a stabilized small business coupled with critical evaluation of the entrepreneur’s marketing concept, the larger competitive industry, and larger scale opportunities.
stage 6: Mass Market – the last and final developmental step when an entrepreneur recognizes a mass market and chooses the final form product or service she will supply based upon market demands.

The stages mirror what most lawyers go through when deciding to hang out their own shingle. Take a look at the WVF site. There is some great stuff there.

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