One of my favorite things to binge watch is Shark Tank. If you've never heard of Shark Tank, it is a reality-based TV show that puts entrepreneurs in front of a rotating cast of highly successful multi-millionaires and billionaires such as Mark Cuban, Robert Herjavic, and Lori Greiner.The idea is to pitch their idea or business and convince one or more of the sharks to invest in them. My entire family watches the show. I think my kids can probably spot a bad valuation better than most adults.
Most of the ideas on Shark Tank are great. However, not every great idea is a great business, and that quickly becomes apparent when the sharks start asking tough questions. The sharks are interested in making money, and nothing causes them to say “I’m Out” quicker than a business owner not knowing the important numbers behind their business. Surprisingly, this is an all too common mistake and often leads to many walking out the door with no deal. Like most successful business owners and venture capitalists, the sharks don’t want to guess or assume. They want facts, solid numbers, and sales (of course).
Knowing important answers to tough questions is important for any business, not just the ones on Shark Tank. Market research, market assessment, and forecasting are vital to understanding key business metrics. However, our clients often need to go beyond these traditional methods and get a deeper understanding of their complex business issues.
On Shark Tank, Kevin O’Leary goes by the nickname, “Mr. Wonderful.” When it comes to deep diving into complex models and scenarios, Bruno and Ridgway has partnered with our own “Mr. Wonderful”: Michael Kubica. We have been working with Michael and his fantastic team at AQS (Applied Quantitative Sciences) for over 15 years to deliver multi-region, multi-segment market models to forecast new and in-line products throughout the product life cycle.
Everyone is familiar with standardized forecasting. The magic of the AQS forecasting model is that it has proven itself over time in forecasting both novel and disruptive technologies. The model is intricate and sophisticated, yet also totally scalable which allows the functions and probabilities to be changed at any time. This provides both powerful data and lasting value as the model can adjust as your data points adjust.
Where does Bruno and Ridgway fit in? It’s simple. There is no black box in the model. Thus, you can’t ask preset, standard questions. It takes sound and creative input to provide the data that informs the model. Leveraging virtually 50 years of experience, we carefully craft questions that reveal the unique parameters for any market introduction. The model also helps to assess the probabilities that various outcomes will actually occur in market.
One vertical in which our clients have found unparalleled success with this advanced forecasting is the medical devices and procedures industry. This tool is particularly adept at assessing licensing and acquisition opportunities, prioritizing internal development project investments, aiding in portfolio management decisions and informing strategic planning.
These client successes have not gone unnoticed by AQS. In a natural evolution that recognizes their core capabilities in the valuation of novel medical technologies, they recently established another operating entity: MedTech Valuation, Inc. This new venture allows Bruno and Ridgway to continue to offer the highest level of sophistication and precision to our clients in this segment.
While you may not be appearing on Shark Tank anytime soon, you may be faced with an even scarier prospect…a world filled with the real sharks: relentless management, ferocious competitors, and impatient shareholders. The good news is that Bruno and Ridgway has led clients safely through these shark-infested waters thousands of times. We ensure that you are prepared with the optimal tools to increase profitability, decrease cost and reduce the impact of risk in complex decisions.
As for me, time to get back to binge-watching Shark Tank.
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