【正文】 longterm goals have you set? Evaluation of Rusmar summary – Answered questions Missing element See appendix for proposed solutions EXERCISE 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 EXERCISE 1 – EXECUTIVE SUMMARY (2/2) * In addition to key questions answered by idea description (step 1) Source: McKinsey Additional questions* for rough business plan ? How high do you estimate your financing needs? ? What are the sales, cost, and profit situations? ? What are the most important milestones along the way to your goal? ? What test customers have you approached/ could you approach? ? What distribution channels will you use? ? What partnerships would you like to enter into? ? What opportunities and risks do you face? ? What is the picture on patents? Evaluation of Rusmar summary – Answered questions Missing element See appendix for proposed solutions EXERCISE 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 CONTENT OF PRODUCT/SERVICE SECTION Source: McKinsey Executive summary Product/ service Management team Market and petition Marketing and sales Business system Implementation plan Opportuni ties and risks Financ ing ? Describes the function the product/service fulfills and the benefits the customer will gain from it –Product/service description –Customer value ? Explains status and next steps of product/service development ? Addresses patents/IP protection issues Product/service section has to prove that entrepreneur can integrate the customers39。 needs? ? What customer value does your product/service provide? ? What is the nature of your innovation? Why is it unique? ? What partnerships are necessary to achieve full customer value? ? What petitor products already exist or are under development? ? What stage of development has your product or service reached? ? Do you have patents or licenses? ? What further development steps do you plan to take? What milestones must be reached? STEP 1 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 PRODUCT/SERVICE – ADDITIONAL QUESTIONS* * In addition to key questions answered by idea description (step 1) Source: McKinsey Rough business plan ? Which versions of your products/services are designed for which customer groups and applications? ? What patents/licenses do the petitors have? ? What kind of service/maintenance will you offer? ? What product or service guarantees will you grant? ? Compare the strengths and weaknesses of parable products/services with yours in an overview! STEP 2 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 DESCRIPTION OF THE PRODUCT/SERVICE Source: The American Heritage Dictionary, Duden A device that converts incident electromagic radiation of mixed frequencies to one or more discrete frequencies of highly amplified and coherent ultraviolet, visible, or infrared radiation Highperformance device for the creation of a narrowly bundled beam of light Better: Technical description of lasers: EXEMPLARY 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 SUCCESSFUL PRODUCT POSITIONING Source: McKinsey Identify relevant customer needs and problems Address subjective perception of customers Define uniqueness and position offering vis224。s customers* CASE EXAMPLE 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 CONTENT OF MANAGEMENT TEAM SECTION Source: McKinsey ? Outlines educational background and professional experience of founders ? Describes how existing skill gaps can be closed in the future ? Convinces potential investors that both managerial and technological expertise is present to run the venture Venture capitalist will invest only if the venture is managed by an excellent team Executive summary Product/ service Management team Market and petition Marketing and sales Business system Implementation plan Opportuni ties and risks Financ ing 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 MANAGEMENT TEAM – KEY QUESTIONS Source: McKinsey Complete business plan ? Who are the members of your management team and what distinguishes them: education, professional experience, success, standing in the business world? ? What experience or abilities does the team possess that will be useful for implementing your concept and setting up your pany? ? What experience or abilities are lacking? How will the gaps be closed? By whom? ? What targets do the team members pursue by starting up the business? How high is the motivation of the individual team members? 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 REASONS FOR BUSINESS PLAN REJECTION – BIOTECHNOLOGY VENTURES* Percent** Weak management team Not marketdriven Long time frame Money mitment too large Not patentable Inadequate technical expertise Other If you find good people, they can always change the product. Nearly every mistake I have made has been picking the wrong people, not the wrong idea– Arthur Rock Arthur Rock Co. 52383125151217 * Reasons for rejecting business plans by firms experienced in biotechnology venture capital ** Multiple responses given Source: Coopers and Lybrand, McKinsey 020607MVA1_ZXK_265_V5 McKinseyCompany – Copyright 2023 TEAM RAMPUP – EXAMPLES CEO Technology Sales Finance Marketing Idea and team development Venture begins Proof of economic viability Explosive revenue growth Technology mkt. validation Sustained earnings growth ? ? ? ? ? ? X X X X X X Source: McKinsey analysis, external interviews EXEMPLARY 020607MVA1_ZXK_2