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| Client receives $500,000 from the Governor. |
As the Inventor, holder of a new idea, your first decision to consider is what you want to do with your idea?
Consider this path to market if your product or service will require substantial financial support and/or significant employee
staffing. Then consider your role in the organization. What role do you want play? Do you have the capabilities to fill such
a role? Be honest with yourself.
If this is the path you choose, then SI will begin by implementing a detailed review of the market, which will include
first hand interviews and field research. We call this the Feasibility Review (or Market Audit).
Feasibility Review
- The typical contents of the Feasibility Review are:
- Executive Summary (Situation Statement, Product Brief, Top Line Financial, Downside Risk Matrix, and Feasibility Decision)
- Market Audit (Process Overview, Target Audience Dimensions, Channel Dimensions, Competition and Competitive Products,
Product Life Cycle, Directional Product Matrix)
- Target Audience Interviews and Evaluations
- Product Benefit Matrix
- IP Positioning
- Product Specifications
- Forecasts/Demand
- Pricing (preliminary)
- Top Line Financials
- Appendix (Focus Group Surveys (if applicable) and One-on-One Interviews)
The Feasibility Review is followed by our unique interactive Which Means What™ (WMW) strategy development process.
Once the WMW is complete, we develop a detailed custom built business plan, which is designed to be used not put on the shelf.
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Business Plan
- Executive Summary
- Company Overview & Background (Ownership type, Location and facilities, and Management team (current))
- Product Overview (History (brief), Consumer evaluation, Unique selling proposition, Line and breadth, IP protection, and
Product availability)
- Market Audit (Process overview, Target audience dimensions, Channel dimensions, Competition and competitive products,
and Competitive product overview)
- Financial (5 Year pro forma, Breakeven, Income Statement, Balance Sheet, Capitalization table, Statement of sources and
uses, Ratio analysis, and Assumptions)
- Strategy (Strengths, Weaknesses, Opportunities, & Threats, Objectives, Strategies, Tactics, and Timing (key milestones))
- Marketing (Product target audiences and benefits (matrix), Sales plan, Pricing plan, Development timeline, Development
milestones, and Extending product life cycle)
- Management (Structure, Team, Team gaps/plans, and Personnel plan)
- Manufacturing (Company description, Location, and Facilities)
- Facility description (requirements)
The bottom line, our plans are custom built for each Client. And, each plan is written to be used!
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