If you have developed a technology or an invention, it's important to assess its potential commercial opportunities before proceeding with the development to know which direction to go in, and what the key industry performance requirements are. You may also benefit from prioritizing opportunities for commercialization in terms of time to market, market acceptance, and pay-back times. Your invention can have multiple applications in a variety of markets - each with their own sets of performance requirements and circumstances. As an inventor, you may have more limited resources than a large company, and as such, it's even more important to focus your resources toward the best opportunities to increase your likelihood of successfully commercializing your invention. A first step in this process is often to complete technical and market feasibility analysis for each potential application.

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Technology commercialization plans aim to demonstrate the potential market opportunity of a specific technology or invention and how you intend to realize this opportunity. Specifically, a technology commercialization plan attempts to categorize your technology in terms of other technologies in the marketplace, and it lays out the technical feasibility of building your technology into a product, or incorporating your technology into existing products and services. Technology commercialization plans also describe the various market segments and industry competitors/potential partners in your target markets, and projects development milestones, revenues and costs associated with the development. 

Other important aspects of technology commercialization planning include evaluating various business models such as licensing, partnering, or making your invention into a product. Most successful technology commercialization efforts include a mix of strategies depending on technology application, 

Full business plans cover your company organization, it's financials, products and services, and customers.

Business plans essentially try to capture the essence of the business and its potential, and have a variety of applications. A business plan can serve as part of the due diligence process for investors and lenders, but it may also point out new aspects about your business that you may find to be of value in the future. A full business plan is about 28 pages in length plus financials and notes.

Most business plans are promotional documents developed to convince potential funders to invest in your company. In order to successfully secure funding, however, the business plan must describe, as accurately as possible, your company, your products and services, and the market. Investors will not likely invest in firms that do not demonstrate an in-depth understanding of their products and the markets in which they compete.

How do you convey your story through a business plan? The answers are as diverse as the companies that seek funding and detailed templates may not serve your purpose. The business planning process lays out the basics in terms of which types of information are used in which section of the plan.

Follow-up services include preparing presentation materials, updating business plans, and assisting in the due diligence process. Extended service engagements involve various aspects of executing the plan and range from optimizing the internal operations to executing the marketing and sales programs:

 

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