Pieces of the Biz Plan

Market assessment work and proforma revenue reports, there's a world of assumptions wrapped up there. And though everyone puts up their slide showing $B with a few numbers around them for the market size, it's still gotta be there. Truthfully, though, with a few active brain cells, if you describe a product, one should be able to estimate for themselves whether the market is a few million, or billions. That's mostly the deduction that needs to be made. But I've seen some crazy perceptions from the start-up crowd, so, nothing can be taken for granted I guess.

My other big challenge is to start to weasel my way into my designated market area in the community. I need to scan the events calendar for sessions where these people get together, and find out what they're up to, then go and horn in on those activities. A few charity dinners perhaps, and a few hand shaking opportunities, and I can hopefully start to build some contacts. That could be tough, but I need to find out where the deep pockets are. I need contacts not only from a potential funder point of view, but also potential partnering opportunities.

On the patent side - still no call on my write up, but at least a ping from my guy saying he's out of the office ill, and will be in touch in a few days. Just as well I didn't see him in person. That's my first test point, and it will be interesting to see if there's anything salvageable (ie fileable) in my disclosure.

To be able to refer to patented technology will be a big help.

Talked to an foreign affairs guy today - he had suggested they were super helpful for startups - but as a test, I asked for some source of market sizing information in US and Europe, and he came back with suggesting a website and a google search. Duh - thanks for the professional assistance.

I've already got some good estimates, though they are a 3-5years out of date. That's not a big issue really, and it's enough to have put together a first draft biz plan. I couldn't help but feel a bit pumped and optimistic after completing that. It sure looks positive - no doubt I'm horribly misinformed. Sadly if the venture fails, I'm sure (as has happened so often before) I'll see the business emerge elsewhere 5 years from now, and swearing will ensue.

Anyway - off to an industry talk tonight and again an opportunity to chat and press the flesh.

Researchinator practises his hand shaking with the cat...