At my presentation to the Sheffield Inventors Club recently, I highlighted the STRONG importance of having a Business Plan in place.
Any company, start-up or individual, will need a Business Plan if wanting to work in the "Business of Invention" ... See this guide here for more details http://thebigconsultant.blogspot.com/2011/05/i-get-lot-of-enquiries-from-inventors.html
And a Business it is!
I am making available a Business Plan template, with instructions included on there specifically designed for New Product Development (NPD).
You can download this business plan template here on this link
For any method of taking your idea forwards, whether, licence, self manufacture, Ltd Company, royalty etc etc, you need to have a plan in place, to help ensure you dont make mistakes in your strategy!
The plan I have posted here, is very similar to ones used internally within larger companies. And we call this a Strategic Product Plan, or sometimes a Strategic Marketing Plan.
Use it, and dont lose it! As I said at the presentation "If you were to play football with Eric Cantona. You would likely get lose, as you dont have the same skills ... and probably 'kicked in the face' in no particular order!" ....
... Well business is the same. If you are going into the boardroom, then the advantage you can have on your side is planning planning and more planning. You need to plan for all eventuallities, if you want to play on a level playing field.
So, plan what is said, the process, the numbers (sales forecast etc), the IP strategy, and every eventuality. Even better, this plan is the 'key' to unlock funding and Venture Capital.
Please dont hesitate to contact me, if you have any problems using the plan. I am happy to help, and I have been through the mill myself, just as you are about to! So, I can help you prep or organise meetings that will get the sale. My email is firstname.lastname@example.org
The plan again is available for download here
A well planned strategy, is without doubt the 'key to success'. And will definitely get you a better deal and outcome. Dont forget to also visit www.thebigconsultant.com
Thanks for now,