Business Plan For Innovation Business

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  • 1. Business Plan for Innovation Business Intellectual property-based innovation business plan competition Ratchakrit Klongpayabal Financial and Venture Capital Consultant Office of SMEs Promotion
  • 2. Overview for innovation business Intellectual Property Invention Innovation New Idea Science-based Intellectual property Invention Technology-based + + + Product or Service Commercialization Technology proof Prototype Business management Novelty proof Individual Entrepreneur Researcher, Inventor Inventor Business firm Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 2
  • 3. Business feasibility factors  Marketing  Management  Production or service  Financial  Laws, regulations, standards, codes  Politics and economics Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 3
  • 4. Judging criteria for inno.business plan  Innovation and intellectual property management  Creative thinking from business model  Competitive advantage  Commercial viability and potential  Product or service process  Marketing management  Financial results or return to business  Communication and presentation skills Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 4
  • 5. Sample of business plan structure 1 Executive Business Product Summary Idea or Service Description Business Mkt.analysis Mkt.plan Production Plan And and or service Competition Implementation Plan Management Financial Appendices and and Risks Management Data, Charts, Tables, Operations Revenue Diagrams, Research Should be 20-30 pages Should be 10-15 pages Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 5
  • 6. Business plan suggested outlines TOPIC PAGES Executive Summary 1-2 Business Idea / Business statement 2-3 Product or service description / IP or technology exploitation 2-3 Market analysis and Competition 2-3 Marketing plan and implementation 3-5 Production or service plan 2-3 Management and operation 2-3 Financial Plan and Revenue Projection 5-6 Risk management 1-2 Appendices 10-15 Total 30-45 Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 6
  • 7. Sample of business plan structure 2 Executive Business Product Summary Idea or Service Description Business IP or Mkt.analysis Mkt.plan Plan Technology and and exploitation Competition Implementation Management Production Financial Appendices and or service and Data, Charts, Tables, Operations Plan Revenue Diagrams, Research Should be 20-30 pages Should be 10-15 pages Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 7
  • 8. How to start writing a business plan Step 1 Step 2 Step 3 Step 4 Step 5 Start to write a business plan Business Business and model Data market Choose Collection analysis a good business Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 8
  • 9. Business model components Value Proposition Core capabilities Market Segments Partner Network Business Distribution Channels Commercialize Network Model Customer Relationship Cost Structure Value Configurations Revenue Model Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 9
  • 10. Process for develop a business plan Business Idea or Business Overview Mkt. or Industrial Analysis Risk Assessment Operating Production Business Business Model Model Marketing Financial Appendix or Exhibit Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 10
  • 11. Process for develop a business plan Business Idea or Business Overview Mkt. or Industrial Analysis Risk Assessment Operating Production Business Business Business Model Model Plan Marketing Financial Appendix or Exhibit Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 11
  • 12. Types of business  Product oriented business  Personal product business  Service oriented business  Personal service business  Retail business  Distribution business  Technology-based or internet business Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 12
  • 13. Business investment  Not too small  Not too large  Depend on your business type  1,000,000 - 5,000,000 THB  5,000,000 - 20,000,00 THB  20,000,000 - 50,000,000 THB  More than 50,000,000 THB Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 13
  • 14. 7Cs of good business plan C Communicate C Commercial C Competitive C Correct Business Plan C Clear C Complete C Convince Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 14
  • 15. Executive summary  Appears first in the plan, normally write last  Wait until you’re almost done so you can include the main highlights  Cover the most important facts  Very important for presentation Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 15
  • 16. Sample of executive summary outline  Business overview  Business idea  Product or service  Market overview  Competitive edge  Target customer  Marketing strategy  Production or service plan  Management or operation  Financial conclusion Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 16
  • 17. Business idea  Explain about your business idea  How your IP make your business innovate?  Why you choose to do this business not others?  Identify business relation factors  What business you are in  Business model and Business set-up  Product and service  How and what is the innovation in your business? Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 17
  • 18. Business statement  Identify vision and mission of business  Describe or explain about your business goals and objectives  Short-term (first year)  Mid-term (1-3 years)  Long-term (3-5 years or more)  Keys of success  Specific, Measurable, Achievable, Reliable, Time horizon Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 18
  • 19. Product or service description  Describe your product or service  Type or model  Size or dimension  Features or how to use  Price and sale condition  Etc.  Add-on photo, pictures, graphic, manual etc.  Comparison to existing product or service Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 19
  • 20. IP or technology exploitation  Intellectual property type  Intellectual property protection method  Identify the important for Intellectual property or technology for your product or service and for customers or market  Exploitation method of Intellectual property or technology to your product or service Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 20
  • 21. Market analysis  Explain and analysis the market which you are in  Market growth, trend, needs  Demand and supply  Market segmentation  Analysis in industry and target customers  By age, income, product or service type, geography, buying patterns, needs, behavior or other classifications Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 21
  • 22. Competition  Describe your main competitors  How well established are they?  What are their main strengths and weaknesses?  How will you compete with them?  SWOT Analysis  (Strength, Weakness, Opportunity and Threat) to define your business for market and competitor Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 22
  • 23. Marketing plan  Explain the marketing plan  Fundamental marketing plan contains 4 strategic plans, product or service strategy, pricing strategy, place or distribution strategy and promotion strategy  Remember that all of strategy use money to do, so you must careful in expense to use for your strategies Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 23
  • 24. 5Fs of customers needs Features Finance Freedom Feelings Future Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 24
  • 25. Marketing strategies Innovation Customer Customer Product solutions costs Price Customer satisfaction Place Customer Communication Promotion convenience to customer Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 25
  • 26. Marketing and Implementation plan  Explain the implementation plan / marketing plan  Marketing programs  Sales programs, personnel programs  Production or services program  Investment programs  Must has the milestones, activities to do, responsibilities, personnel, date to start and finish, time to do and budget Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 26
  • 27. Production or service plan  Identify production or service policy  Describe the production or service process  Identify production or service cost and expenditure  Describe the method of intellectual property or new technology using in production or service  Production or service forecast must relate to marketing Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 27
  • 28. Management and operations  Explain the business management or operations  What type of legal entity you expect to form  Who will own it and how ownership will be divided  The organizational structure or organization chart  The management team and personnel plan  Technology or IP operation Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 28
  • 29. Resources requirement  Describe the money required to start your business  Investment structure for your business  Land  Building, factory  Machinery and equipment  Intellectual property  Vehicle, fixture or fitting  Working capital for stock/debtors/creditors etc Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 29
  • 30. Financial plan and revenue projection  summary topic, which is followed by detailed topic covering your general assumptions  Personnel management and operating  Marketing  Product or service  Financial  Revenue and cost forecast  Profit and loss, cash flow, balance sheet  Break-even analysis, and financial ratios Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 30
  • 31. Risk management  Describe your risk assessment  Business risks (especially IP or technology risks)  Financial risks  Present and future of risks  How will you protect or manage these risks? Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 31
  • 32. Appendices  Gathering information which supporting your business plan such as research data, statistics, information, news etc.  Do not use all text or number but also use pictures, chart, graph, table or other graphic tools to present data or idea in your business plan  Length should be 10-15 pages or less Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 32
  • 33. Factors for business plan presentation Business Plan A B Visual Document Presentation Business Plan Presentation Vocal C D Answers Presentation from Questions Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 33
  • 34. Business plan presentation  Formal presentation  Informal presentation 5+5 Good 5 + 5+ 5 OK 5 + 5+ 5 + 5 Maximum Ratchakrit Klongpayabal - Financial and VC Consultant - Office of SMEs Promotion Slide 34