Winning funding for a new pharmaceutical company, as well as becoming successful in this lucrative market space requires the creation of a carefully crafted blueprint which details every aspect of your new (or existing business). Running a business without a business plan is analogous to flying a plane without a flight plan!
Pharmaceutical consultants have traveled this road before you, and have an understanding of what investors want to see, as well as what pitfalls you may have before you as you progress towards your goals. They can help you clarify your key objectives, and solidify your marketing, operations, and management strategies.
A good business plan has many elements. It should first have a comprehensive overview of what you want to accomplish, your measurable deliverables, and your key defensible advantages. This is particularly key, as you must be able to show investors that other companies have barriers to entry, and cannot simply copy your technology and beat you in the marketplace.
Next, you must demonstrate the need for your product or products by showing the market size, and market projections going forward. This section needs to be carefully crafted so that it paints a realistic yet optimistic picture of the market landscape.
In the pharmaceutical industry, the operations plan receives a lot of attention. How are you going to make your products cost effectively? What manufacturing techniques will you use? What is the size of your production facility, and what are your plans for keeping it productive and controlling costs? What qualifications and standards must you meet in order to be able to release product, and how long will it take?
A Go-to-Market plan is essential to any complete business plan and details your strategy for receiving market focus and actually selling your product. Here, you should describe your Marcom plan as well as your sales channel plan. Without a plan to reach actual customers, no product can be successful.
The final element in any business plan is what wraps it all together – your financial projections. Pharmaceutical consultants can help you develop something that is both conservative and interesting to an investor – which is no easy task. If you are too aggressive – your plan will lose credibility. If you are too conservative, no one will want to invest. This is the area where a consultant with expertise can add considerable value, and save you time and money.
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