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Session Four Agenda
• Present Revised Executive Summaries• Product/Service Strategy• Offensive & Defensive Strategies• Intellectual Property• Make/Buy Decision• Group Discussion: Your Technology
Strategy
Executive SummaryExecutive SummaryIn 2-or-3 Pages, Briefly Describe the
highlights of…• Elevator Speech• Industry• Vision• Mission• Corporate Legal Description• Product/Service - What it does, how much it sells for, proprietary
position• Market - Who’s going to buy, what is the sales channel.• Operations• Management Team• Investment Required• Financial Proforma• Note: Develop each topic for five years
Technology Defined
“The Entire Body of Methods and Materials to Achieve Such
Objectives.”
- American Heritage Dictionary
Product/Service StrategyKey Questions
• Internal: What Technology Do You Need?
• External:– What Strategy Should You Choose?What Strategy Should You Choose?
– What Stage of Product Development?What Stage of Product Development?
– Should You Protect It? Can You? How?Should You Protect It? Can You? How?
– Can You Make It in Volume?Can You Make It in Volume?
Imagine...
• Your Company Has Been Very Successful.• You Make Effective Use of Technology.• You Have Been Asked to Make a Brief
Presentation to a Group of Stakeholders on The Technologies You Have Chosen.
Your Product/Service (Define)
• Who is Your Customer?• What is the Customer’s Compelling
Need?
This is an Important First Step!
Who is YOUR Customer?
• Follow the Money Trail.• Is Your Product Combined With
Another?• Who Do You Call on to Sell Your
Product?
What is YOUR Customer’s Compelling Need?
• Narrow It Down.• Often a Simple Answer.• Listen to Your Customers...
Listen to YOUR Customers...
• Focus on What Product Can Do For Them (Not What it Does)
• Involve Users and Partners• Listen to Your Customers--Even If You
Know The Answer
Why Are These Important?
Approaches to Your Strategy
• Offensive - ProactiveYou Choose What You Want To Do With
Technology
• Defensive - ReactiveYou Wait to See What the Need is As You Go
Along.
Offensive Strategies
• Research & Design• Technology Transfer Into Your Company• Obtain Exclusive Sole-Source Agreements
Summary of Offensive Strategy
• Identify Market Early• Use Sales Engineering to Solve
Customer Problems• Revise Position Often, Based on:
– Market Feedback– Competition
Defensive Strategies
• Patents• Trade Secrets• Tool Kits (Prevent Others From Using)
• Industry Knowledge (Protect by Knowing)
• Manufacturing Infrastructure
How To Protect It
• Inventions - Utility Patent• Literary Works - Copyright• Trade Secrets - Keep Confidential• Trade Marks - Register• Industrial Designs - Design Patent
The Make/Buy Decision
Specify What You Will...
• Make• Buy
Lower the Risk
Discuss Each “Single-Point-of-Failure”
Homework Assignment• Update Executive Summary• Product/Service Section• Get going on 10 minute presentation• Work on Finance Charts for Session Five
– (2) Revenue Charts– (1) Cost of Goods - COGS– (1) Head Count– (1) Salaries– (1) Expenses
Preview Session Five:Financial Strategy
• Three Fundamental Approaches to Financial Strategy
• Financial Plan• Financial Assumptions• Prepare for Session Six-Presentation Tips