Bioring SA produces niche-specific rings for cardiac valve repair. It has its main office in Lonay (CH) and maintains a small manufacturing and assembly plant in Lonay, Switzerland. Its products are to be sold through single or multiple distributors.
- This business plan is part of our regular business planning process. We revise this plan every quarter and it is placed under change control.
- In the next two years we intend to develop two new products and to improve revenues.
- Our keys to success and critical factors for the next year are, in order of importance:
- Product approval: CE mark.
- Sales to dealers in volume.
- Financial control and cash flow planning.
The following chart illustrates highlights of our financial performance as projected for the next three years. Sales and profits should continue to grow.
- To give Bioring SA the market presence needed to support marketing and sales goals, and to attract distributors of new Bioring products.
- To develop two new Bioring products by the end of year four.
- To increase sales to reach $312,500 monthly sales by the end of year two, and $830,000 monthly by the end of month eight of year three.
- To control expenditures to serve the best dividends to the shareholders.
Bioring SA addresses the surgical repair techniques which are implemented in open heart surgery. This business is based on a product owned by the company, which is a cardiac implant more precisely called "Kalangos Biodegradable Ring."
We intend to make enough profit to generate a fair return for our investors and finance continued growth and development in quality products. We also maintain a friendly, fair, and creative work environment, which respects diversity, new ideas, and hard work.
1.3 Keys to Success
The keys to success in this business are:
- Marketing: either dealing with national distributors or with well-established international companies.
- Product quality.
- Product approval in Europe and USA.
- Management: products delivered on time, costs controlled, marketing budgets managed. There is a temptation to fix on growth at the expense of profits.