Managing the Future
posted on
Mar 23, 2010 03:16PM
And the future is now. If we are to succeed, and at this point it is academic as to each of the current 19 infringers and a settlement amount of 1 million or an average of 2 million.
Expenditures have been trimmed to the maximum. We have no debt. We have an infringer list of about 175 companies in total. To begin to manage a growing and multi million dollar company where revenues could approach 5 million each quarter and show substantial growth each year. We should begin to improve our management capability in several disciplines within the organization. Appropriate skills will be necessary to guide this company into the future.
At present we do not have a seasoned financial individual to properly direct the various activities required to utilize the assets of a several hundred million dollar Balance sheet which will become extremely important with the added dollar value each quarter and/or year.
In effect we have no Sales department, especially if we want to concentrate considerable effort into new market segments beyond our current IFE market. This requires a professional with a good track record with the ability to match market needs with internal engineering capability. A small sales force would satisfy the temporary need to focus on future product development.
With the expected growth it is natural to think that an experienced Marketing Director and small staff would be required to make our presence known in the CE industry and investment community. Other activities such as contracts, market analysis, acquisitions programs, etc. become part of the enhanced proactive strategy to help guide and achieve the growth through product development, partnerships, and company acquisitions.
Now is the time to add to the engineering staff to satisfy the many disciplines outside of the IFE market segment. Examining other market segments along with internal analysis will provide the engineering group with technology criteria for product development.
The annual cost involved could be kept to approximately 1 million, and would include salary and fringes for as many as 10 new mid to high level employees. This amount is small if we actually anticipate generating 5 million dollars per quarter and more in each succeeding year, which is expected if we use the hundreds of millions as stated by RP.
Now is the time to act. We must utilize the funds being generated to the maximum potential.