Show It Is A Good Business for Investment
Why is this Important? You need to provide details as to how your business will function and grow beyond your initial Executive Summary.
| Key Actions | Things to Consider | Tool Kit |
|---|---|---|
| Outline the “Unmet Need” and “Solution” | Refer back to your validated Assumptions
These items will make up most of the final business plan. Who is the true customer (i.e. user) and who will pay for the product/service? Why do they care? Are they willing to pay? Being able to correctly answer this question is the biggest hurdle for Digital Health products and services Make sure you can outline your sales cycle as part of your business model Is there an existing reimbursement code that is appropriate for your product? Or do you need to establish a new one? Financials will be the most important aspect from an Investor’s perspective
Research comparable examples, particularly to establish potential exit valuation Speaking with potential acquirers early can be helpful to gauge their long term interest and establish relationships, but avoid giving away trade secrets
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Assumptions Template (Completed) |
| Define addressable Market Size | ||
| Identify competition/substitutes and outline your competitive advantage | ||
| Outline value proposition from each of the key view points: Patient, Physician, Provider, and Payer | ||
| Define go-to-market plan (Marketing/Sales strategy, including reimbursement) | ||
| Define a go-to-market plan outlining key milestones | ||
| Outline financials: P&L, Cap Table, Cash Flow, Etc. | ||
| Define Exit Strategy (Acquisition or IPO?) |