Stage 5: Growth (Scale)

Strategically entering the market to finalize your technology for scaled production

Navigate each of the processes below by reading more, downloading support files, and/or watching some of our online webinars. Each of them provides more context and support throughout the Goldsmith Model.

Process 5.1 - Production

Placing your product into commercial production

The first 4 Stages of the Goldsmith Model prepared a variety of items that, once put together, placed the inventor in a great position for full-scale production.With the world being as fast-paced and competitive as it is, each piece of the production puzzle cannot be forgotten about. Things to be aware of and in-tune with are supply chain optimization, lean manufacturing, just-in-time-manufacturing, etc. All of these can have detrimental impact on production efforts if left unacknowledged. The value of Production arises as a market-ready product for purchase by consumers.

Process 5.2 - Sales and Distribution

Receiving market reception from buyers and distributors

In order to efficiently produce your product to the best of its capabilities, one must understand the processes of manufacturing. These need to be well defined throughout each step of the operation. Take note of attributes such as the process itself, component list, plans for support & maintenance, etc. as these all play a significant role in the efficiency of the overall process. Once these processes have been adjusted and perfected, final tests should be made to verify all previous assumptions. The value of analyzing a Pre-Production Prototype lies in the inventor's better understanding their product’s manufacturing process.

Process 5.3 - Business Growth

Fully staffing and operating the business while increasing efficiency

Growing a business at first glance may seem like just growing sales, but it encompasses much more than just that. The business must be flexible and open to the adoption of new business models that arise in the future. In doing this, they should still hold true to their Code of Ethics with all decisions made. The company should be under strategic planning on a daily basis as a means to collect performance indicators (overall health of business). In growing, there may also be a need for a management team to be involved as they hold a set of skills much different from an entrepreneurial team. The value of Business Growth comes from customers relying on your product/service when searching in the market.