From Idea to Reality
Once we have the idea for a venture, we begin to turn it into reality. In the first stage, the vision and purpose of the product must be defined, and the principle of its applicability and vitality are tested.
In stage two, once the venture has found its niches, an operative work plan must be prepared to transform the vision into reality. As part of the work plan, the different needs that are required at each stage of the venture must be addressed and detailed.
From the operative work plan, you will derive the financial operating budget for the period (s) which will be the basis for the implementation and control of operations in reality. Preparing the Venture Work Plan
The more detailed the work plan and the more parameters that affect the activity, the more accurate and close the budget construction can be to the actual implementation. The Ventures Work Plan should Include: Step 1 –
The vision and Applicable Tests
Description of the product or service
The problem the product solves
How the product solves the problem (innovation)
The target market for the product
The size of the market in Israel and worldwide
The advantage over existing solutions
Mapping competitors and their strengths
Is the product for private consumers or businesses
Can the product be adjusted for different populations needs
Are there any barriers or requirements to enter the field Step 2 -
The operative work plan for transforming the idea into a reality for development
Details of the development team - professional description and their roles in the development of the venture.
Additional points to note during the development process, types of materials, types of services, types of suppliers / subcontractors, equipment, physical space devices, etc.
Traveling for meetings in Israel and Abroad
Assess the need for patent applications in Israel and around the world
Prototype development and application testing
Developing systems to support production and sales processes
The development period and parameters affecting development time Direct Product Costs
Set a time on the timeline of activity for the start of production operations
Define inputs and costs for the ongoing production of the company's products in order to support the profit and sales model
Detail the production team - professional description and roles in the production process
The inputs required to produce - materials, subcontractors, machinery, energy, use of rights, etc. Revenue Model
Population segments for sales - business, private, distributors
Defining different products for different populations
Define revenue from product sales, maintenance, usage, etc. Marketing
Set the timing on the timeline of the activity for the start of marketing activity
Details of the marketing team - professional description and marketing roles
Definition of means and marketing platforms for the company and its products - marketing inputs, distributors, agents, social networks, exhibitions, travel and meetings, subcontractors etc. Operational Investment (CAPEX) -
Define the timing on the timely activity for the start of looking for various types of operational investments
Definition of long-term inputs used by the entrepreneur - in the development, production, marketing and management processes - (investment in knowledge acquisition, development of internal systems for ongoing operations, machines, equipment, computers, etc.) General Administration
Define the General Management of the Venture/Company
Details of the General Management and Professional Management - Professional description of the roles as required for a specified period/permanent position, whether outsourced or directly employed according to the needs of the functions (such as legal, financial, administrative, computing services, etc.).
Location requirements and physical space for all activities over time/as certain milestones are reached Sources of Financing
Define funding sources for activity over the timeline or milestones until operational balance is reached.
Private investors - amount, for the period, a milestone
Support programs and grants from government and public bodies - amount, period, milestone
Banks - Amount, period, milestone
Investment houses - amount, period, milestone
Public offering - amount, period, milestoneBack