Building and managing the foundations of business
As the Impact Innovator’s partner, Mariam Global Health helps establish and manage the foundations of the business. These foundations include (but are not limited to): organizational structures (business, financial, agreements, advisor relationships), IT and knowledge management functions, business plans and strategy, governance protocols, budgets, core stories, communication, and contingency plans.
Mariam Global Health places emphasis on the early stages of the business life cycle.
Start up and survival
This consists of establishing the business venture, setting up its foundational business functions, developing the mission and communication strategy, and securing the necessary funding for the science and the business (to name a few). Strategic business plans that include detailed budgets are also developed. There are a great many ups and downs during the start up and survival stage. Survival is as much psychological as it is financial.
Before a business can find stability, it must survive many peaks and valleys. Day-to-day operations are focused on finding stability in the venture, so as to level off the highs and lows. Stability is achieved through securing funding or generating consistent revenues. Once the business is stable with its funding and operations, growth can begin to occur.
As the business begins to grow, Mariam personnel, in concert with the impact innovator, will transition operations to qualified management teams. Mariam will continue to be a partner and offer both oversight and insight for the organization. It is when the business venture reaches the Growth stage that it becomes most attractive to venture capital and other larger potential investors.
NEXT: Relationship Management