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60 The PCB Magazine • October 2016 It takes more than just a good idea to ex- ploit that brainstorm of yours. Hewlett Pack- ard's "10-Step Business Plan Process" is the for- mat to present an idea or product in a fashion that will answer most questions that manage- ment may have about a product or idea. It is how ideas and products come to reality. While it is designed primarily for developing strategic business plans, it has also been used for plan- ning in administrative support functions. The process efficiently captures external knowledge and internal expertise in an iterative, self-vali- dating methodology. It might be as short as 10 paragraphs or as long as 10 chapters. What is important is answering the question that each step asks. Introduction Three elements highlight the primary char- acteristics of the 10 Step Business Plan. Its logic is driven from segmentation: 1. Customers and channels, competition 2. Necessary products/services, development 3. Purchase plans and financial analysis These are conducted sequentially at the seg- ment level. Valid understandings are derived from a segment disaggregation of markets. The foundation of the 10-Step Plan is user needs; in fact, the only valid segmentation is based on user needs. Imaginative understand- ings of user needs lead to competitive advan- tage. As users ultimately determine product and service success, user needs provide the best basis for business decisions. The application of the 10-Step Plan is multi- functional. By incorporating analyses from R&D, manufacturing, QA, sales, marketing, fi- nance, and personnel, all functions contribute to the formulation of an action plan as opposed to a shelf plan. The 10 Steps The content of each of the 10 planning steps are briefly described here. Step 1—Statement of Purpose A concise statement of purpose for the busi- ness strategy in the context of decision crite- ria for use across related entities. It identifies by Happy Holden 10-Step Business Plan Process HAPPY'S ESSENTIAL SKILLS