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Strategic Planning

Receiving a “launch” after the internal and external review process results in the inventor and/or entrepreneur and the New Ventures Team collaborating to create a strategic roadmap for the proposed venture.

The strategic planning process lays the foundation for a successful business venture. The New Ventures Team will leverage its experience and resources to help establish the framework for the business, develop the mission statement, value proposition and formulate an effective market strategy. This engagement step is a critical as it involves defining core elements of the business model and establishing foundation for the business plan.

Key Actions: • • •

Define the business mission and set corporate objectives. Analyze the external environment and internal environment through SWOT (Strengths, Weakness, Opportunities, Threats) analysis. Formulate competitive strategies and develop tactical plans.

The continual engagement of the entrepreneur/inventor and new ventures team remains critical at this stage. The development of a business plan and identification of additional financial and operational needs are the key deliverables from this engagement.

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CTTC New Ventures Process  

An indepth look at how CTTC's New Ventures Team helps Vanderbilt entrepreneurs and inventors navigate the entrepreneurial process.

CTTC New Ventures Process  

An indepth look at how CTTC's New Ventures Team helps Vanderbilt entrepreneurs and inventors navigate the entrepreneurial process.

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