This preview shows page 1. Sign up to view the full content.
Unformatted text preview: If you have not, discuss the timeline and procedures for pursuing IP Search the US Patent office database for existing patents/patents
Search pending (www.uspto.gov) Part 9: Firm Location
Discuss where the business will be headquartered and
Discuss where the reasons
the Was the location chosen because of some advantage?
Was Located in a firm cluster (e.g., Silicon Valley) Located near important suppliers Located near large customers/customer groups The area has many employees with the necessary qualifications There are some tax or other financial benefits (e.g., cost of land/living
There is cheap, etc.)
is Other benefits like zoning needs, regulations, access to distribution
Other channels, etc. are favorable Look at the Small Business Administration website ( www.sba.gov) to
to start gathering information about different state’s dis/advantages
start Part 10: Management Description
Part Discuss the legal form of the business (e.g., corporation, sole proprietorship,
legal partnership, LLC, etc.)
partnership, Discuss why this legal form was chosen Other resource-related, legal (e.g., IP), etc information included here— VRIO Describe the members who compose the management team
members The key people in charge of the business What is their background (e.g., education, employment, etc.)? Make the case for why they are qualified to start and run this type of business Discuss the roles (e.g., CEO, CFO, CIO, etc.) of each team member Describe other important “human” resources
Describe other Composition of the board of directors (if a corporation) Composition of the board of advisors (if applicable) If the firm has been endorsed by a reputable person/firm, discuss this Has Bill Gates provided positive feedback about the firm? Discuss the potential need and plan for recruiting future human resources
Discuss Part 11: Financials
Demonstrate the financial viability of the business
financial Begin by explaining the funding needed during the next three to five years
Begin along and how the funds will be used
along Describe where the funds will come from (e.g., self, family, loans, investors) Include realistic financial projections How fast you expect to go through the funds bef...
View Full Document
This document was uploaded on 03/24/2014 for the course ER 203 at John Carroll.
- Spring '14