Beta provides equity-based consulting services for corporate clients, focusing on innovation and new business opportunities. "Business Engineering"SMis a systematic process developed by the Beta Group for discovering, screening, analyzing and developing new businesses to the point of start-up funding. Business Engineering unlocks the financial potential of unexploited technologies or market positions.
Senior line executives know that great business ideas are often buried within their corporations, unexploited because of strategic focus, organizational boundaries or resource limitations. It is difficult to expose and develop these ideas in the course of operating and planning the day-to-day business. Beta's approach surfaces these internal ideas, contributing additional opportunities from our other work when they fit our client's development needs.
An independent, objective "task force" (with client and outside resources) is used to identify, screen and analyze these ideas for senior management. The most attractive opportunities are developed into business plans that can be evaluated for internal and/or external funding of the new venture. To be successful and timely, the process must be driven by the CEO, cut across organizational lines, and reach middle levels of management and key technologists. Internal politics are often daunting to even the best planners and business development executives. Specialized outside resources are often the most effective solution.
The objective of Business Engineering is to establish a match between a market need and a proprietary advantage such as patented technology, a dominant market position, or a strong distribution system. The process starts with a creative discovery approach to opportunity identification and screening using systematic interaction between internal corporate resources and external experts. This interaction leads to conceptual development of innovative business ideas for services and products. Technical feasibility and development are matched with strategic analysis of customer needs, overall market trends, and competitive assessments. A strategy is developed and a top management team is identified to develop the specific operating and financing plans.
The development of detailed business plans normally involves focused market tests and additional technology development. These investments target the key success factors that can greatly reduce the risks associated with a new business. In all cases, market, technical, financial and management benchmarks are established to monitor the venture's progress.
In addition to The Beta Group, Business Engineering draws upon a rich network of senior technical and managerial resources on a selective basis depending on the industry and expertise required. These ad hoc teams provide our corporate partners with specific functional and market know-how from operating executives experienced in strategy, operations, financing (venture capital and investment banking), R&D, and technology management. These interdisciplinary teams, coupled with client resources, are vital for successful Business Engineering.
Innovative financing strategies are a final key to Business Engineering. These include internal client funding, external venture financing, joint ventures, and public offerings for "off balance sheet" financing.
Beta compensation is set to reflect value to our clients. We prefer long-term equity and royalties to cash payments tied to hours billed. This, we have found, closely aligns our objectives with building a successful business rather than successfully billing hours.