TABLE 6.5 Characteristics of an effective venture plan
Here are 12 features of an effective venture plan:
1 It demonstrates a dear opportunity which has not yet been exploited.
2 It displays strong customer attraction and differentiation from competitors.
3 There is significant, quantified growth potential in identified markets.
4 There is a credible strategy and plan to exploit the opportunity.
5 It deploys innovation which can be shown to work effectively.
6 It has unique aspects which can be prevented from copying (control of IPR).
7 There are success factors with risks identified and minimised.
8 Investment required is shown with realistic return on investment.
9 Timescale to break-even and anticipated profit stream are realistic.
10 Financial planning is accurately costed and realistic .
11 Potential exit routes and timescales for investors are shown.
12 The venture team demonstrate capability and motivation.