The Flexi-Trac Client Mapping System
A product of the PASBDC Engineering Development Services, Bucknell University
Introduction
Welcome to our step-by-step system for mapping out your success in developing and bringing to market a new product. You should find this system equally valid whether you are an aspiring entrepreneur with a new invention or an existing company seeking to develop innovative new products. Simply put, study after study reveals the secrets behind doing it right the first time…so you don’t have to do it over!
Worse yet, if you don’t take advantage of the knowledge and experience of those who have been successful, you may find you never even get that second chance.
So make a commitment right now to yourself and those depending on you that you will follow a disciplined path. Keep in mind also that the PASBDC system is here to help you along the way, free of charge (except materials cost for prototyping). How is this possible? We are an economic development agency, part of a nationwide network 1,000+ locations strong. Funded by the SBA and in Pennsylvania, by the DCED (Department of Community and Economic Development), to assist start-up and established businesses alike to help spur growth in jobs and strengthen our economy.
How the System Works
Please print out a copy of the Flex-Trac Client Map(PDF Format) for reference.
It’s just like building a house. The first level – Row A, Preliminary Investigation – is the foundation. The details of this investigation will need to support all future construction. It must be built with certain characteristics that ensure it will offer the proper support over the life of the building. Below we show those attributes and compare them to items on the map.
Site selection = the value proposition, the first place to start. Some sites, like some ideas, are more suitable than others to build a house upon.
Strength of foundation = completing the entire row to the best of your or your team’s ability.
Continuity of foundation (all parts of foundation equal in strength) = all parts of map thought through carefully.
Depth of foundation = an appropriately detailed draft of a business plan (not too deep, not too shallow).
Meeting building codes = following best practices for activities to be undertaken.
Home builder = you and whatever experts need to be brought in to get the job done right.
(Below is a small preview of the whole map. Click on the image for the full map.)
Just as you would build a home foundation as solidly as you can, then perhaps allow it to rest a little before continuing, likewise with a product development effort. Let the information in the initial business plan sink in a bit. Then, inspect it again to see if any cracks may be developing. Repair any damage before continuing.
The second level– Row B, Venture Feasibility – continues along the same path. It is analogous to applying the decking which will eventually become the finished floors.
The rows C, D and E follow a similar logic, so that in the end you have a beautiful – and soundly built – home, equal to a product launch.
One last analogy is in order here. Just like in a house, all the elements must work together in harmony and be done in the highest quality way…or we introduce the potential for collapse.
Why the System Works
The system is based upon hundreds of best-practices studies of real-life product launches in thousands of companies. The PASBDC has added to those studies our own real-life experience through hundreds of commercialization efforts with entrepreneurs and small business spanning all industries throughout the state of Pennsylvania.
What do I do next?
Contact your local SBDC www.pasbdc.org to get started. You will meet with a business and technology consultants who will work with you to assess the status of your product development effort. They will guide you through this process, and refer you to EDS for direct technical assistance at the appropriate time.
Finally, a few words of caution:
We meet many independent inventors and established companies alike, who seek to "shortcut" their way to market with their inventions. Shortcuts may be prudent and the system is intended to be flexible … but always be sure to make informed decisions
One shortcut that should never be made is focusing only on the invention and prototyping. Smart inventors know finding someone to buy the invention, regardless of whether they will manufacture or license, is not an afterthought… it should be the always thought.
