High-growth Business Development:

Start-up

Innovation Success 360

Milestone-based Operations (and Funding)

Business e-Coach  Success 360  Emfographics

 Vadim Kotelnikov, founder of 1000ventures - personal logo  Kore 10 Tips  One World, One Way, icon, logo 

 

By: Terry Collison, Blue Rock Capital

 

As your company’s founder, if you think in terms of milestone events, it can help you organize your activities and your available resources into a logical sequence of steps or stages.  In your role as a manager, milestone-based thinking helps you understand the priorities at each stage of your company’s development, operations, and growth.  Externally, milestone-based thinking helps you communicate to potential funders what you are attempting to do, why it is important, and how each activity relates to the required level of funding and to the likely payoff.

7 Routes to High Profits

10 Rules for Building a High-growth Business

 

Milestone Events

Milestone 1

Proof-of-concept demonstration

Brief description of a major event that has already occurred

Brief description of the impact or significance of achieving this Milestone

Resources (or other kinds of input or collaboration) associated with achieving this Milestone

Month Year

Milestone 2

Competitive analysis; assessment of proprietary rights

Brief description of a major event that has already occurred

Brief description of the impact or significance of achieving this Milestone

Resources (or other kinds of input or collaboration) associated with achieving this Milestone

Month Year

Milestone 3

Planning for commercial development and applications

Brief description of a specific activity that is currently underway

Brief description of the impact or significance of achieving this Milestone

Resources (or other kinds of input or collaboration) associated with achieving this Milestone

Month Year to

Month Year

(either “ongoing” or “current”)

Milestone 4

Key words only

Brief description of specific acti­vities required for Milestone

Describe the significance of achieving this Milestone

Resources associated with achieving this Milestone

Month Year

Milestone 5

Key words only

Brief description of specific acti­vities required for Milestone

Describe the significance of achieving this Milestone

Resources associa­ted with achieving this Milestone

XX months following funding

Milestone X

Key words only

Brief description of specific activities required for Milestone

Describe the significance of achieving this Milestone

Resources associa­ted with achieving this Milestone

XX months following funding

 

 

 

Do It Yourself.   You will see that this side is filled out illustratively.  The other side is blank and ready for you to break down your own venture into significant phases, each of which is consummated by the achievement of an important milestone event.

On the other side, start by going to the third line (the line which is captioned "Milestone 3").  Describe your current situation, i.e., what you are now working to achieve, how you are doing it, its likely significance to the overall success of the venture, the resources you are using, and the beginning date (which is known) and the ending date (your best educated guess) which are associated with the ultimate achievement of this particular milestone.  Next, go up above this "current" line of activity and describe the two "most major" prior milestone events that you have already achieved.  Finally, using the same format, please fill in the lines for Milestones 4, 5, 6, and 7 and their respective activities, significance to the value and/or ultimate success of the venture, your resource requirements, and the likely timing.  That's it.  Simple, huh?

 

 

Milestone Events

Milestone 1

Description

Significance

Required resources

Year / month

Milestone 2

 

 

 

Year / month

Milestone 3

current focus

 

 

 

Year / month

Milestone 4

 

 

 

____ months after funding

Milestone 5

 

 

 

____ months after funding

Milestone 6

 

 

 

____ months after funding

Milestone 7

Cashflow break-even operations

 

 

 

____ months after funding

  

 

Entrepreneur Download PowerPoint presentation, pdf e-book

Startup Business Plan

3Ws of Venture Investing