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Business Planning for Inventors Created by: Adrian Pelkus A Squared Technologies, Inc. www.a-squaredtec.com Helping Inventors become Entrepreneurs Since.

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Presentation on theme: "Business Planning for Inventors Created by: Adrian Pelkus A Squared Technologies, Inc. www.a-squaredtec.com Helping Inventors become Entrepreneurs Since."— Presentation transcript:

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2 Business Planning for Inventors Created by: Adrian Pelkus A Squared Technologies, Inc. Helping Inventors become Entrepreneurs Since 1985 Presented by Adrian Pelkus November 11 th, 2010

3 Adrian Pelkus, CEO A Squared Technologies, Inc

4 Adrian Pelkus, has 30 years experience developing high technology processes and products and has helped startup several technology companies. Mr. Pelkus has held numerous positions in engineering and senior management including Senior Electronic Tech, Engineering Manager, Director of Biomedical Engineering and CEO. Mr. Pelkus has helped develop over 140 different electronic products and is a named inventor on five issued U.S. Patents including 1994 Fortune magazines Product of the Year, Baby Think it Over, for a revolutionary Thin Film Flexible Solar Cell and has 4 Patents pending. Adrian is CEO & President of A Squared Technologies, Inc. a high-tech product development company he Founded in 1985, Mr. Pelkus is Founder, COO of IYIA Technologies, Inc. the biomedical company he started in 2004 and is the inventor of the FDA cleared O2Misly Wound Treatment System. In 2005 Adrian reorganized the UIA registered San Diego Inventors Forum and is currently President of this group to help startup entrepreneurs. In 2007 Mr. Pelkus Co-Founded Hypnoz Therapeutic Devices, Inc. as COO and is co inventor of the JED Jaw Elevation Device.

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9 Putting Your Plan Together STEP 1 - RESEARCH Find the Facts to Build your plan with Market – 1. Who sells what's similar, how & for how much? 2. Who wants or needs your basic idea, why and what will they pay? IP – What is patented or otherwise protected in this area? By who? Yourself - SWOT – what resources, talents, connections & time do you have and need – are you building a company or aiming to license your idea? These are three main concerns seasoned investors consider when you first meet: Can this product make money? Does this person own the idea? Does this person know what it takes to make this idea profitable?

10 Putting Your Plan Together STEP 2 - Model Make the Facts to Build your plan with Model – 1. Sketch, illustrate, make animations, make drawings & specs 2. Clay, balsa wood, hobby shop metal & plastic a scale model 3. SLA, machine prototype parts to make a working model or expense Test –1. Function test in real as possible setting, make improvements 2. Measure & record results before & after, collect competitors data 3. Capture tests in video, photos and testimonies 4. Market survey prototype – will it sell? Collect market research data. Reality checks – Can the final product be made & sold for a profit? At what quality level & quantity can you get the cost where it needs to be? These numbers become the assumptions which all the numbers to follow in your business plan are based. When you present your idea as a working model it reduces the can it be made concerns an investor usually has. Data to support the claims is always crucial and a video showing a satisfied user is helpful many ways.

11 Putting Your Plan Together STEP 3 - Secure the IP Own the Facts to Build your plan with Collect – 1. A one paragraph description of the idea - the Abstract 2. Make Drawings with matching Descriptions of your idea. 3. Prior art that you examined. 4. Measured & recorded results. 5. List Unique features of the idea – the Claims Find –1. Patent agent 2. Patent firm / attorney 3. USPTO.gov File –1. Provisional Patent 2. Patent Application & assignment 3. Trademarks & Copyright When you present your idea as Patent Pending it reduces the is it your idea concerns an investor usually has. Data to support the claims is helpful because proof of concept is not required to get a patent!

12 Putting Your Plan Together STEP 4 - Plan the presentation Organize the Facts to Build your plan with Decide – 1. Is the goal a company startup or a license deal? 2. Is the plan to raise funds to start the business or make a proof of concept? Collect -For a company startup: 1. Market data 2. Your claims and assumptions 3. How you will make $ where sold 4. What are your and your teams talents 5. What funds are required run the business to BE or make a proof of concept? When will there be a ROI? What is the exit strategy? For a License agreement : 1. Market data 2. Your claims and assumptions 3. How they will make $

13 Putting Your Plan Together STEP 5 - Pick a model Tools to Build your plan with Decide – 1. DIY 2. I dont know enough yet and I need HELP! DIY - Business Plan Pro by PaloAlto Software with 500 sample plans HELP! - SCORE Workshops on writing Business Plans 12/1Business Plan 101: How to Develop Your Best Competitive Advantage Pt. Loma Nazarene Univ. - MISSION VALLEY CampusBusiness Plan 101: How to Develop Your Best Competitive Advantage Pt. Loma Nazarene Univ. - MISSION VALLEY Campus CONNECT Springboard Springboard offers free guidance and development to life sciences, clean-tech, high tech and consumer product companies in all stages of development, ranging from concept, technology transfer to start-up. Contact: Ruprecht von Buttlar Springboard Director Phone: (858) Web:

14 Deal Network Venture Round Table Tech Coast Angels Grant Portal IntakeMarketing PanelFinance PanelDry-Run PanelFinal PanelExit Resources Team Qualifiers for Panel Entrepreneur in Residence (EIR) Marketing Domain ExpertFinancial Domain Expert Marketing Template Legal Resource MBA students for Market Research Domain Experts Financial Modeling Tool MBA students to build financial models Domain Experts Valuation Tools Domain Experts Must identify: customer need, business model Slides: Market Segmentation, Competitive Analysis, Competitive Differentiation, Go to Market Strategy Must complete: marketing plan, financial model Slides: Pro Forma Profit and Loss, Funding with use of funds, Corporate Development with funding strategy Must complete: marketing plan, financial model Slides: IP, Team, Traction Must pass: Dry-Run Panel

15 Table of Contents EXAMPLE II. Executive Summary Overview The Initial Market –Diabetic Foot Ulcers VHT* and the O2MislyTM Wound Treatment Clinical Information Sales & Marketing Management & Advisors Scientific Advisory Board III. The Enterprise The Company The Founder The Product Intellectual Property IV. The Market Market Size and Growth A Large and Growing Problem Competition Marketing Strategy Sales & Distribution V. Product Development O2MislyTM Proven System Design O2MislyTM Market Driven 3rd Generation System Design Manufacturing Plan Facilities VI. Key Milestones VII. Appendices Comparison Matrix O2MislyTM Wound Treatment System Fee-for-Use Model Financials

16 When asked at a past SDIF meeting what's the most important parts of a business plan? Peter Shaw, Shaw Management and president of the SDVG said: EXECUTIVE SUMMARY ! EXECUTIVE SUMMARY !! EXECUTIVE SUMMARY !!! When you meet with investors you usually have 8 – 10 minutes to make your pitch, essentially telling them your executive summary, best accompanied with a PowerPoint presentation – with an embedded video!

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20 Business plan = $$ No business plan = 0$ Most dont plan to fail, they fail to plan

21 Adrian Pelkus, CEO A Squared Technologies, Inc

22 Business Planning for Inventors Created by: Adrian Pelkus A Squared Technologies, Inc. Helping Inventors become Entrepreneurs Since 1985 Presented by Adrian Pelkus November 11 th, 2010


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