Imagine yourself hanging out with friends and family on a Saturday afternoon when one of you says, dreamily, “Some day I’d like to start my own business. Begin by describing your idea (it can be any potential product or service, or just follow the steps using an existing product) and then follow the steps using the new-product development strategy, describing each step and how you would apply it to your idea. Once you’ve taken the product through all of the steps and you’re ready to market it, explain how you might move into the adoption phase (incorporating the diffusion process into your strategy).
