Strategic Business Plan
Definition: The process of making critical decisions concerning
financing options, organizational structure, marketing approaches, and
strategic partnerships are matched with the aspirations of the founders and
the capabilities of the organization.
Objective: The objective of the strategic planning step is
to identify and prioritize the business options, which optimize the opportunity
for success.
Product: The product of this step is a concise business plan that reflects the optimum strategic business options for the enterprise.
Business Activities: The business activities common
to this step are those necessary to develop a formal business plan.
During the strategic planning stage at least the following activities must
be completed:
Finalization of intellectual property requirements Finalize business organization structure Select a board of directors (or advisory team) Finalize agreements on any concurrent break-through technology requirements critical to commercialization Develop a formal financial plan that includes the strategy and timing of present and future funding rounds Develop a detailed business plan for the product development stage including objectives, schedules, milestones and allocations of the required financial and human resources Ensure that the management team has critical experience and expertise in technology/product/market and business development Form a cohesive commercialization team (design, manufacturing, marketing, management)
Business Information: Completion of the strategic planning
step usually will result in a formal business plan, finalization of enterprise
formation (or corporate commitment for implementation), finalization of
intellectual property requirements, acquisition of pre-venture capital funding,
and finalization product development agreements.
Assessment:
Have you developed a strategic business plan?
Have you finalized the intellectual property requirements?
Have you finalized the business organizational structure?
Have you selected a board of directors (or advisory team)?
Have you finalized agreements on any concurrent break-through?
Have you developed a formal financial plan that includes the strategy and timing of present and future funding rounds?
Have you developed a detailed business plan for product development including objectives, schedules, milestones and allocations of the required financial and human resources?
Can you ensure that management has critical experience and expertise in technology/product/market and business development?
Have you formed a cohesive commercialization team (design, manufacturing, marketing, management)?
Return to The Goldsmith Commercialization Model
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