During this step we endeavor to gain a thorough understanding of the nature of the business idea. This step will include meetings with the founders and review of relevant research materials to understand the work that has been completed to date and to determine what additional study may be required.

In this initial stage, Renaissance Resources will conduct preliminary research of the market, competitors and customers in order to reach a full understanding of the opportunity. This information allows us to reach a consensus with the founders that provides the framework for continued research and refinement.

Step 2 - Develop a Business Plan

Using a collaborative process to stimulate innovative thinking, Renaissance Resources will craft a professional business plan that clearly presents the value proposition for investors. This document will do more than explain the proposed venture, it will demonstrate in clear terms the opportunity and return for the investor. Often business plans miss this important element, because founders are so excited about their proposal that they forget a key reason for the plan, that is, to obtain funding.

One aspect of the plan development would be to focus on the business' core concept and competitive advantage. This allows for a clearer statement of the fundamental business idea and avoids the often repetitious and peripheral nature of certain canned business plan systems.

The key elements to any business plan should include:

	Executive Summary		Customer Analysis
	Company Analysis		Marketing Plan
	Management Team		Operating Plan
	Industry/Competition Analysis		Financials

The financial model will encapsulate the thinking behind the plan. We will prepare a full financial statement including key assumptions and detailed forecasts of earnings, assets, liabilities and cash flow. We also develop the underlying models for other key variables like staffing.

Step 3 - Establish the Management Team

The first question asked by many potential financiers will be on the experience of the management team. They want to know that those involved in the execution of the plan are highly motivated and have track records that demonstrates achievement. Renaissance Resources can help in two ways:

  Fill key management positions on an interim basis; or

  Locating, screening, interviewing and negotiating with new employees.

A critical element to any start-up is ensuring the appropriate management team is in place to fulfill the business plan. This looks different at various stages of a company’s development and can include an Advisory Board, Senior Management, Interim Management and a Board of Directors. We will define the appropriate job requirements, assist in finding and securing these resources, and develop compensation plans. We will also be willing to investigate the alternative of providing interim management to start-ups at various stages of their development.

Step 4 - Secure Funding

If external financing is required, we offer a comprehensive service for clients seeking to raise capital. Renaissance Resources will:

  Prepare presentations for investor meetings;

  Coach the business founders in tactics and responses proven to work with sophisticated investors, including the use of mock interviews and visits with "friendly financiers";

  Identify venture capital candidates who would be interested in the business proposal and arrange introductions and interviews.

If necessary, members of our team will attend these meetings to convey the business plan message.

Renaissance Resources has established working relationships with a number of local and regional entrepreneurs and investor groups, and has solid ties with many regional banks.

Step 5 - Launch

Once funding is secure, we play a key role in launching the business. This includes managing the logistics and operational issues and overseeing the execution of the business plan. Some of the areas where we can help are:

  Marketing

  Public Relations

  Advertising

  Staffing

  Strategic Planning

  Financial Management and Analysis

  Accounting and Tax Issues

There is considerable in-house experience in each of these areas, and we have also formed several strategic alliances with other groups who have specialized knowledge in these disciplines.