High Tech Growth Companies Best Practices

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Leadership:

• Understand own strengths/weaknesses and compensate by filling out management team
  
• Select well-identified market niche that capitalizes on core competencies of founding team
  
• Combine marketing breakthrough with technology breakthrough that formed company
  
• Have a business plan that links entrepreneurial vision to attainable and practical reality
  
• The CEO possesses a "will to win".

Management:

• CEO has acquired the strong management skills needed for transition from start-up
  
• No compromises are acceptable in getting the best management talent needed
  
• An equity stake builds strong team commitment to the company's success
  
• Regular structured Board meetings with strong experienced members from outside company.

Technology:

• Hone technical innovative edge through regular contact with universities, other R©D, clients.

Strategy:

• Create products locally to avoid the communications and standards difficulties going abroad
  
• Balance their high R&D expenditures with aggressive marketing expenditures
  
• Focus on a smaller accessible niche to command a premium for superior technology
  
• Find the right distribution channel rather than defaulting to their own sales force
  
• Become global in outlook early in their successful growth using export assistance programs.

Financial:

• Raise capital before it is critically needed and raise more than needed
  
• Annual budget discipline helps measure performance and identify funding needed
  
• Grow revenue per employee on a yearly basis.

Note: - This is a freehand summary of the High Technology Industries Agenda for Growth

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