Download Managing High-Tech Start-Ups by Duncan MacVicar and Darwin Throne (Auth.) PDF
By Duncan MacVicar and Darwin Throne (Auth.)
Coping with High-Tech Start-Ups equips engineers with a simple tool-kit for founding a high-tech production corporation. It supplies would-be marketers insightful wisdom on easy methods to assault such difficulties as constructing a advertising and marketing plan, a revenues plan, goals, pricing, hiring a revenues strength, comparing advertising and marketing effects, and correcting difficulties. The booklet emphasizes find out how to accurately determine an issue, so time is spent on its factors and never on its signs. specific emphasis is put on the promoting elements of recent engineering ventures, due to the fact advertising and marketing is mostly no longer a part of an engineer's adventure, but is so very important within the luck or failure of a brand new enterprise. The authors take the reader step by step in the course of the means of advertising and marketing assessment and constructing a product plan.
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Dealing with High-Tech Start-Ups equips engineers with a simple tool-kit for founding a high-tech production corporation. It supplies would-be marketers insightful wisdom on easy methods to assault such difficulties as constructing a advertising plan, a revenues plan, ambitions, pricing, hiring a revenues strength, comparing advertising and marketing effects, and correcting difficulties.
Extra resources for Managing High-Tech Start-Ups
Describe Planning for Success 31 the position of every key employee, even if you have not yet identified a person for the slot. Emphasize the intended sales structure, both domestic and international—a weak point in many high-tech plans. Your plan must oudine all the financial aspects of the business. It is important to be conservative in the financial projections; the odds are that you will need more cash than you think. In fact, it's a good idea to describe contingency plans to deal with common emergencies like a shortfall of cash while ramping up production, a delayed product introduction, or a new competitor.
Above all else, your business plan must capture the essence of your endeavor. It must emphasize your uniqueness and consequent competitive advantage—in other words, why you will succeed. It must contain clear statements of your mission, objectives, and strategies. If the reader understands these concepts well, then you have a good plan— everything else is just supportive detail. In your plan, discuss all of the company's functional areas—product development, marketing, sales, manufacturing, and finance.
The legal frequency of board meetings is at least once per year. Some outside investors may insist on meeting once a month during the start-up phase. Later, meetings can be held quarterly with a major annual review. Director liability is a major issue. Many qualified people will not serve on boards because of this exposure. The liability can be mitigated by purchasing director's and officer's insurance; be sure to watch the exclusions in the policy. Indemnification by the company can help, but it could become worthless if the company gets into financial trouble.