Traditional development and commercialization models take too long, cost too much, and expose founders to excessive risk. A new approach forsmall technology companies to generate revenue has been proposed (Bailetti, 2010). In the new approach, the top management team of a smalltechnology company uses a a platform to co-create value by collaborating with all the stakeholders of its development and commercializationdecisions and builds trust on its work practices and market offers.The purpose of this article is to provide the lessons learned from working with a top management team of a profitable business that uses atraditional approach to development and commercialization and wishes to migrate to the new approach. The article will be useful to managers andowners of existing small companies and vendor-neutral, non-profit organizations that wish to grow their businesses.The article is organized as follows. First, a hypothetical situation of a musical band illustrates the options available to a company that wishes toincrease its revenue. This example is based on our work with a local technology. Next, we describe the lessons we learned while preparing theplan to migrate the existing company to the new approach to generate revenue. The hypothetical situation is used to illustrate the lessons learned.Finally, conclusions are provided.
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