Beruflich Dokumente
Kultur Dokumente
opportunities
Feasibility studies
Adam Burdess
Within2years 23.7
Within4years 51.7
Within6years 62.7
100
20
5 1
Micro
Level
Target Segment Benefits Sustainable
and Attractiveness Advantage
It’s about the customer, stupid! How long can your advantage last?
• Not interested in product or service per se. What • Proprietary elements (patents); and superior
pain are you resolving? Who is target customer? organisational processes, capabilities and
What evidence do you have? resources; and viable business model.
• “We ask for the names and addresses of the first • Must survive 4-7 years and be attractive
10 customers” investment to others: the exit imperative
• “The biggest shortcomings of the business plans
• Is this truly a scaleable business? How?
we see is the complete absence of market
research. Dreams of demand just won’t do. Hard
evidence is what attracts our money”
Or George Doriot:
“Always consider investing in a Grade A
man with a Grade B idea. Never invest in a
Grade B man with a Grade A idea.”
New Venture
Inventor
Creativity
Manager
and
Low
Low Managerial Skills High
100
20
5 1
Partial loss
Total loss
Copyright 2004 Adam Burdess 61
Business Plan Writing –
Beyond Opportunity
Assessment
• Need to develop an operational plan/define resource needs
– Human resource
– Capital
• Need to develop a financing strategy
– Do financing needs match the opportunity?
– Who/what is appropriate source of funding?
• Need to plan for, and manage, risks
– Is timing right for this opportunity?
– Which questions do we need to ‘manage’ for our current audience?
– How to mitigate against these key risks?
• Constantly ask: who is the audience for this plan?
– e.g. if financial investors, need to develop an ‘exit plan’