Building a Business Plan: Pharmetrics
Having worked with me on the Pharm-EZ project, the founder of a new venture called Pharmetrics approached me to ask for assistance in creating a business plan and presentation for the company. The objectives of the plan and presentation were two-fold: to raise the funds necessary for the venture to begin operations and to secure the expert personnel required to bring the business to fruition.
I began the process by gaining a better sense of the business’s core competencies, its value proposition, the current market environment and a variety of other foundational aspects. I did so through a combination of email and phone conversations, research online and in industry publications, by bouncing my own ideas and additions off the founder and more. This culminated in a several hour “interview” with the founder, where I played in turns the role of journalist, prospective employee, prospective partner and prospective investor. This is a format that I have found to be very effective in quickly gaining a comprehensive picture of a company.
I worked with the founder to improve on the original concept, resulting in a compelling offering that would be highly lucrative for both the company and its clients, while greatly improving quality of health care for patients. I transformed this information into a comprehensive, 15,000 word business plan that also included three different sets of financial pro formas, tailored to different levels of initial funding and different rates of growth, providing projections that varied from extremely conservative to an optimal scenario for the company’s first few years. Along with the business plan, I created a presentation that, while maintaining a conservative visual tone, presented information in a concise and attractive manner. The founder is now actively seeking funding while arranging the expert leadership team needed to move forward.
Below are two of the slides from the presentation. Unfortunately, due to the business’s ongoing efforts, I can’t say much else here and had to redact some key information on the slides.