1. The Business Plan Stephen H. Thomas MD MPH Stephen-Thomas@OUHSC.edu

2. Disclosures Nature of RelationshipSelf Spouse/ Partner List Name(s) of Commercial Entity(ies)Product or service the entity provides Clinical condition related to this product or service EXAMPLE X  XYZ Pharma, Inc.AntibioticInfection Advisory Board X   UCB Pharma, Inc.SeizureAED Consultant X   Baxter HealthcareSubcutaneous infusionDehydration Grant Recipient X X   MedEvac Foundation Intl Nanomed Grant support Microneedle HEMS research Drug administration

3. Physicians as business people: Hospital administrators’ perception

4. BP discussion points DefinitionComponents Audience Presentation

5. General reference

6. Focused reference

7. Definition Outlines product: Justification Development Deployment Returns

8. General characteristics Presents plan for profitably meeting a need Accurate, succinct, attractive Assesses the present; projects future Logically presents & justifies: – Initial and ongoing resource requirements – Marketing decisions and customer demand – Financial projections (e.g., ROI) Starts broad, focuses as move through plan

9. Specific components Cover page Table of Contents Executive Summary Business Description Business Environment Industry Background Competitive Analysis References Regulatory Issues Market Analysis Marketing Plan Operations Plan Management Summary Financial Plan Pro Forma Attachments Milestones Figures

10. BP as a document

11. Written BP: Be clean Quality logo/graphics ◊ Binders, not staples ◊ Length <40 pages ◊ Speling counts ◊ Convey care

12. Executive Summary 1-2 pages Sell the project Outline: – Opportunity – Proposal’s edge – “So what” – Current operation – Forecasting – “Ask” details – ROI – Timelines

13. Overview More detailed summation of project Unnecessary if use long Executive Summary Referenced, fleshed-out version of ES Pseudo-“Introduction” to ES as “Abstract”

14. Appendix

15. Background Establish need/problem Paint picture of industry Advantages to your “fix” “So what?”

16. Markets Document claims Make realistic projections – Growth rates – Resource requirements

17. Methods Ideas or materials Products or services

18. People Summarize management group – Qualifications – Planned contributions – Commitment to the project Emphasize team’s strengths Address weaknesses (& strategy)

19. Operations Show that details have been considered Determine breakeven point Do the number-crunching yourself

20. Anticipated results Balance enthusiasm with realism Worst-case Likely Best-case

21. The pro forma

22. What are the residency costs in FY2015? The pro forma

23. Dashboard Focus on BP assumptions’ accuracy Test hopes/assumptions with real-world data BP as a “learning plan” Dashboarding prevents complacency

24. Timeline & Budget

25. References

26. Presentation “Anyone can spin a plausible yarn about their pet project.” Tailor approach to audience Viewpoints: producer, market, investor