Bull’s Eye Targeting™ — An idea for sound strategic decision making...
Nº 1 | May 2015 | Criteria for Sound Strategic Business Decisions — HOW to decide?
Audience | Inventors | Startups | Product Managers | Business Development Managers | Marketing Executives | Senior Corporate Executives | Angels | Angel Groups | VCs
Abstract | Decisions from a strategic perspective constantly challenges decision-makers. Once know, stay focused on the key factors for success (KFS). What tools support such an effort, other than the lengthy business plan that we’ve all learn to hate to do. While the exercise may be necessary and worthwhile, how many of us have found those plans years later laden with dust. What we really need are tools that keep us focused every single day on the key strategic drivers of success for our business opportunity — A tool to establish and maintain Bull’s Eye Focus...
Opportunity Targeting — Bull’s Eye Assessments | The Criteria
DeltaQuest developed and refined a set of tools through several decades. In the past 20 years, we have used it our consulting practice to assess and evaluate client opportunities for our own decision-making, as well as helping us carefully guide clients into their futures.
Kashmer and Kosterman (DeltaQuest) have worked together, off and on, over the past 30 years inside of major medical device corporations and for “our own accounts,” as consultants and partners. Through our own experiences, as well as those of entrepreneurs, we often see how easy it is to become enamored with our own ideas and business opportunities, which is fine, as long as you prepare properly to answer the tough questions from executives, if in the corporate world, or investors, if in the startup world. So, you have the need to be prepared for those eventualities, although staying focused on doing the right things right remains at least as important.
While this tool remains qualitative in nature, we designed it with definitive weights and measures, i.e., viable and weighted metrics/ criteria providing fast and meaningful analyses of the opportunity’s KFS. From our own experience, and in spite of temptations to expand the list, we continue the criteria defined to only these components...
- Magnitude/ size of the prospective opportunity
- Strategic value of the marketing opportunity | Differentiation of the product/ technology
- End-user value proposition
- Time to market
- Sustainable advantage
- Financial return opportunity
Highest and best use of this instrument compares your own opportunities or your competitors to your primary opportunity presently under consideration. Please know this is only the start. We ask you to think about the significance of these elements relative to your own experiences. We think you will quickly see how they cover the full range of options quite well. This becomes even more apparent, as we expand on the elements of the model. The model gets very specific, so don’t be bothered if at present things seem a bit vague. Just be prepared for the followup articles.
Thank you for your interest (and patience :-).
P.S. Ultimately, these will be weighted. We would enjoy the opportunity to review your weights — Your total should equal 100, defining what you consider to be the relative importance of each criterion.