“Politics is the
gizzard of society, full of grit and gravel, and the
two political parties are its opposite halves - sometimes split into quarters -
which grind on each other. Not only individuals but states have thus a
confirmed dyspepsia.” -- Henry David Thoreau (American Essayist, Poet
and Philosopher, 1817-1862)
Getting down to the nit and the grit … Lab Manager Magazine
(http://www.labmanager.com) offers a
good way to stay abreast of developments at ground level.
Here is an excerpt of one of the items that have appeared in the publication …
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Secrets of a Successful Start-Up Lab
Lab Manager
Many labs start out as entrepreneurial ventures to develop new technology. As
such, a start-up lab has entrepreneurial requirements that must be met in order
for it to successfully develop into a full-fledged business.
By Lina Genovesi | May 01, 2015
A big idea wrapped in many small, but critical, details
Below are some of the entrepreneurial requirements of a start-up lab.
Starting The Lab
Creating the business plan
Starting your lab begins with a business plan that includes, in this order, an
executive summary, a company description, a market analysis, an organization
and management section, a service or product line section, and a funding
request section.
The executive summary is the most important section of a business plan, as it
spells out your experience and background as well as the decisions that led you
to want to start your business. The executive summary also spells out why your
business idea will be successful. If you are seeking financing, the executive
summary is also your first opportunity to grab a potential investor’s interest.
The executive summary should highlight the strengths of your overall business
plan and demonstrate that you have done thorough market analysis. It should
include information about a need or gap in your target market and how your
particular technology solutions can fill it. The executive summary should
convince the reader that you can succeed in your target market. Although the
executive summary appears first in the business plan, it is the last section of
the business plan that you write.
The company description section provides a high-level review of the different
elements of your business. This is similar to an extended elevator pitch and
can help readers and potential investors quickly understand the goal of your
business and its unique proposition. The company description section includes a
description of the nature of your business and explains the competitive
advantages that you believe will make your business a success.
The market analysis section should highlight your industry and market knowledge
as well as any of your research findings and conclusions. It should include a
description of your industry, including its current size and historic growth
rate as well as other trends and characteristics, such as life-cycle stage and
projected growth rate. It should also include information about the target
market, its distinguishing characteristics, size of the primary target market
and your projected share of it, a competitive analysis, and any regulatory or
governmental regulatory requirements that will affect your business.
The organization and management section should include your company’s legal and
organizational structure, management profile, and the qualifications of your
board of directors. The service or product line section includes a description
of your product or service, details about your product’s life cycle, status of
your intellectual property protection, and current or future R&D
activities.
The marketing and sales management section includes your overall marketing and
sales strategy—namely your strategies for market penetration, growth, channels
of distribution, and communication.
The funding request section of the business plan should include your current
funding requirements and any future funding requirements over the next five
years, supported by historical and prospective financial information. The
funding request section should also include an analysis of the prospective use
of the requested funds.
Read the full text at: http://www.labmanager.com/business-management/2015/04/secrets-of-a-successful-start-up-lab#.VXjUmOlREcA
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