Launching a High Risk Business Essay

2419 Words Mar 23rd, 2009 10 Pages
Table of Contents
Introduction 3
Before Launching 3
Major Sections 4
Research & Development 4
Human Resources 4
Finance 5
Marketing & Sales 6
Manufacturing 7
Achievements and Results Obtained 8
Key Lessons Learnt 8

Introduction

Launching a high risk/ high return business is not a simple process. There are several key factors and criteria that need to be met in order for your venture to have a chance. Ignoring them would most likely result in complete failure, and this is why a large number of startups fail in their early stages. This simulation is meant to help me identify the key pitfalls and factors of success.

The purpose of this report is to communicate how I approached the problem of launching the high risk
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With an Inexperienced management I would not get the confidence and thus the same offers

• I believed that with a strong team, they would be able to make better recommendations and more realistic requests for funds and thus help my business to succeed

• With a strong management I believed that my different teams’ productivity would be better relatively compared to a less experienced management team in similar conditions.

When choosing the experienced staff, I chose carefully. I tried to select the ones who had some background and experience in the telecommunications industry, or those that I saw would be most fit and valuable to my firm. The staff which I usually hired every run is:

VP of R&D: Henry Krueger; VP of Marketing & Sales: Martha Anderson; VP of Finance: Jane Cheney; VP of Manufacturing: Carolyn A. Vasques.

When to Hire the Different VPs

Initially I would hire the VP of R&D and the VP of Marketing & Sales. By hiring those two I would get good offers from investors. I would then hire the VP of Manufacturing and the VP of Finance once my development was done and I was about to start manufacturing.

In my recent runs, I would also hire the VP of finance initially. I noticed that the offers I received where much larger. This I believe I due to the fact that I presented a greater number of experienced candidates when requesting initial funding. I however, would