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Technology Business Plan Template

Written by Dave Lavinsky

how to start a tech company

Over the past 20+ years, we have helped over 1,000 entrepreneurs and business owners create business plans to start and grow their technology businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a technology business plan template step-by-step so you can create your plan today.

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What Is a Business Plan?

A business plan provides a snapshot of your technology business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

If you’re looking to start a technology business, or grow your existing technology business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your technology business in order to improve your chances of success. Your technology business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Technology Businesses

With regards to funding, the main sources of funding for a technology business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for technology businesses.

Finish Your Business Plan Today!

If you want to start a technology business or expand your current one, you need a business plan. Below are links to each section of your technology business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of technology business you are operating and the status. For example, are you a startup, do you have a technology business that you would like to grow, or are you operating technology businesses in multiple markets?

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the technology industry. Discuss the type of technology business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of technology business you are operating.

For example, you might operate one of the following types of technology businesses:

  • Network technology : this type of technology company specializes in providing the computers, printers, scanners, and phones within an organization and making sure they are all linked together in order to work seamlessly with one another.
  • Software technology: this type of technology company specializes in providing and/or installing the appropriate software needed for the business. This will include the programs and productivity tools for the organization’s computer network.
  • Customer relationship technology: this type of technology company focuses on providing a customer relationship management system (CRM) that keeps track of all customer interactions and information in order to consistently provide exceptional customer service.

In addition to explaining the type of technology business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of client companies served, number of positive reviews, reaching X amount of client companies served, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the technology industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the technology industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your technology business plan:

  • How big is the technology industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your technology business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your technology business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, small businesses, and local companies that need technological services.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of technology business you operate. Clearly, large companies would respond to different marketing promotions than small businesses, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other technology companies. 

Indirect competitors are other options that customers have to purchase from that aren’t direct competitors. This includes technology companies such as Geek Squad, local stores that sell and rehab tech equipment, online technology companies, etc.

With regards to direct competition, you want to describe the other technology businesses with which you compete. Most likely, your direct competitors will be technology businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of technology do they provide?
  • What areas do they serve?
  • What type of technology company are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Is your technology business more capable than the competition?
  • Will you provide technology services that your competitors don’t offer?
  • Will you provide faster technology service?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a technology business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of technology company that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to technology services, will you provide computer repair, 24/7/365 service, phone installation, and any other services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your technology company. Document your location and mention how the location will impact your success. For example, is your technology business located near an office complex, an urban setting, or a busy neighborhood, etc. Discuss how your location might be the ideal location for your customers.

Promotions : The final part of your technology marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Website and SEO marketing
  • Commercials
  • Social media marketing
  • Local radio advertising
  • Business networking

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your technology business, including updating technology, client communication and scheduling, marketing, and implementing and installing the new technology for a client.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to obtain your XXth client company, or when you hope to reach $X in revenue. It could also be when you expect to expand your technology business to a new location.  

Management Team

To demonstrate your technology business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing technologys. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing a technology business or are connected to a wide network of professional organizations that frequently utilize technology.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you take on one new client company at a time or multiple new client companies ? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your technology business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. 

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a technology business:

  • Cost of technology to be installed
  • Cost of software and equipment
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your list of technology services, types of clients you will be targeting, and the areas your technology business will serve.  

Putting together a business plan for your technology business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the technology industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful technology business.  

Technology Business Plan FAQs

What is the easiest way to complete my technology business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Technology Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of technology business you are operating and the status; for example, are you a startup, do you have a technology business that you would like to grow, or are you operating a chain of technology businesses?

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Innovation Blog

7 steps to create a technology startup business plan.

  • Published on: April 26, 2022
  • Author: masschallenge

7-step-startup-business-plan

Many entrepreneurs still overlook the importance of a technology startup business plan. In a space as competitive as the tech industry, a lack of preparation will surely pave the way to disappointment.

Instead of diving in without any concrete strategy, a plan provides a foundation for sustainable business growth.

In this article, we’ll explore the essential elements of a tech startup business plan, and provide the insights you need to create a plan for success.

What Is A Business Plan?

A tech startup business plan is a document that details the premise of your technology business, summarizing vital financial objectives and operational goals, as well as details on how you will accomplish these goals.

Put simply:

It’s a road map that describes what you intend to do, and how you intend to do it.

A typical business plan will comprise the following seven elements:

  • Executive Summary
  • Company Description

Market Research

  • Description of Products and/or Services
  • Management & Operational Structure
  • Marketing Plan
  • Financial Plan

3 Reasons You Need a Business Plan

Before we dive into the individual aspects of a startup business plan, let’s first consider why you need one.

Just what are the benefits of a business plan?

1. It Offers Greater Clarity

Having a business plan will give you a much better understanding of your business and the objectives you are trying to achieve. Even the most basic technology startup business plan example will seek to define your goals in more objective terms.

For example, you can set specific targets for website traffic, sales volumes, or profit margins. This makes it easier to track and measure success and aligns your decision-making with sales and marketing initiatives.

2. It Increases the Chances of Success

A report from the Harvard Business Review found that companies with a business plan are 16% more likely to succeed.

Furthermore, companies that have a business plan also enjoy higher growth rates than companies without a plan.

3. You Are More Likely to Get Investment

Angel investors and venture capitalists aren’t in the habit of making bad bets. When they part with large sums of money, it’s a carefully considered decision they base on the likelihood of earning a positive return on investment (ROI). When you have a business plan, you give your startup strategic focus, which helps you create an identity that is built to succeed. This makes for a more attractive prospect in the eyes of investors, so it’s easier to raise capital for your startup when you have a plan.

How to Write a Business Plan for Your Tech Startup (7-Steps)

So, now that you understand the motivation behind creating a tech startup business plan, it’s time to see how it’s done. By including the seven elements below, you’ll have a plan that gives your company a much stronger footing.

1. Executive Summary

The executive summary is, without a doubt, the most critical element of your tech startup business plan. Despite this, a lot of plans fail here because the summary doesn’t captivate readers. If you can’t hook prospective investors, partners, or employees with your executive summary, they may never read the rest of your business plan.

1-businessplan

Source: The Balance

This section should be compelling yet concise, giving people enough to understand what makes your startup unique, and how it will be able to offer solutions in an existing, competitive market.

While you want to keep it brief, there is a lot to pack into this opening section of your business plan. Here are the crucial components of an executive summary:

  • Business Model – What is your product or service? How will you make money?
  • Target Market – Who will benefit from this product or service?
  • Business Opportunity – Why do consumers need your product or service?
  • Marketing Strategy – How will these consumers learn more about your product or service?
  • Competition – What other companies are competing for market share?
  • Goals – How will your startup transform the marketplace with this product or service?

As the executive summary is such a vital aspect, it’s a smart move to write it last. By waiting until you have finished the rest of the business plan, you can draw from the other sections to craft an excellent executive summary.

2. Company Summary

The company summary essentially boils down to a single sentence, otherwise known as a headline statement.  When it’s done right, this summary can be the perfect elevator pitch to capture the imagination of would-be financial backers or partners, and it will serve as a natural lead-in to your more detailed business plan.

2-fill-blanks

Source: Gusto (credit: LivePlan)

The company summary or headline statement should do the following:

  • Give people a brief overview of what your company does.
  • Communicate the value you offer.
  • Highlight the opportunity in the market.

Here is a good template to create your company summary:

<Your company> is a <type of business> who sells <product or service> to <target customer> , who needs <solution> , but doesn’t get it from <competition> .

Don’t worry if you can’t create the perfect summary now. When you develop your business plan, you will get a better understanding of what this headline statement should be, and then you can refine it to reflect your vision and value proposition.

We’re sure you have a great idea, but that’s no guarantee that everyone is going to love it as much as you do. No matter how good you think your startup may be, you still need to conduct proper market research to learn more about your ideal customers and competitors.

Identify your Target Market

Without a viable market for your product or service, your business is doomed.

Many startups have failed quickly because the owners were so obsessed with their own product that they were effectively blind to the fact that nobody else cared about it.

3-top-reasons

Source: CB Insights Image: Cleveroad

Initially, you can adopt a broad scope to get a sense of your total addressable market (TAM), which is the potential revenue opportunity your new product or service could generate. Of course, with the competition, and changing consumer interests, it’s unlikely you will dominate the entire TAM.

Once you have this broad idea, you can hone your sights to go more niche. While this presents a smaller audience, it is more effective. By narrowing your targeting, you can market to a more engaged audience that will be more receptive and likely to purchase your product or service.

Consider the following factors when segmenting your audience:

  • Demographic – What age group? What gender?
  • Geographic – In what country or city do your prospects live?
  • Behavior – What websites/blogs/news sources do they use? What are their purchasing habits? What retail sites or brands do they buy from?

With in-depth data analysis and evaluation of your prospective customers, you can create detailed buyer personas that help you refine your marketing strategies.

Perform Competitor Analysis

During the market research stage of your tech startup business plan, you should also carry out a thorough competitor analysis.

This will help you determine the key differentiators between your company and the competition.

Ask yourself these questions:

  • Why should people choose my product or service?
  • How can I improve on the existing solutions in the market?
  • Why do people not already buy the products in the market?

By thinking about current trends or flaws in existing products, you can identify opportunities for innovation so that your business can connect with customers on a deeper level.

Knowing your audience is crucial, and therefore, your business plan must demonstrate a deep understanding of your target market, and your competitors.

3. Description of Products and/or Services

Here, you must highlight the link between what you are offering, and what people need, so you can prove that people are ready and willing to pay for your product or service.

Research Problems in Market

It helps to conduct some face-to-face research, asking potential customers about the problems they have. Don’t try to usher the conversation in any direction or shoehorn their answers to fit your product – instead, look to learn from their honest responses about the solutions they need.

You should do this research before creating the product. After all, it makes more sense to create a product for an existing problem, instead of trying to find a problem for your product.

4-market-research

Source: ProductTribe

Tailor Product to Problems

After doing your research on the existing problems in the market, trim your list to focus on a few of the most important issues. Describe how your product or service will be the ultimate solution to these problems.

For instance, if people believe the existing solutions are too expensive, you can offer a product with a more attractive price point.

By matching up consumer problems with specific solutions, you can develop a product or service that has a more significant value proposition.

4. Management & Operational Structure

The next stage of the traditional technology startup business plan template delves into the people that make up your company. You must highlight the strengths and experience of your existing team, as new partners effectively invest their money in the team as much as the business idea.

Ideally, your team will consist of several experts whose respective skill-sets complement one another. For example, your tech startup may have a coder, a graphic designer, an inbound marketing expert, and a sales professional. Discuss the merits of each team member to convey the value they add to the business.

You can also speculate about prospective new hires and the key attributes you will seek in future team members. If you haven’t already got a chief financial officer (CFO), it’s a smart move to mention adding one soon. This will add backbone to your business plan by reassuring people that you have good financial sense.

Organizational Chart

Here, your plan should clearly define the organizational structure of your startup. For now, it may just be you and a couple of business partners.

However, by including a graphic that visualizes the structure you intend to build, people will get a clear understanding of the distribution of power and chain of command.

For example, it may look something like this:

5-team-map

Having a hierarchy prepared before starting helps prevent any debates about who is in charge of each department, and makes it easier to understand who reports to who.

5. Marketing and Sales plan

No tech startup business plan would be complete without mentioning the marketing and sales strategies you intend to use.

Sales channels

To clarify the difference, marketing channels are used to promote your business, and its products or services, whereas sales channels are the mediums that enable people to purchase those products or services.

You may only have one direct sales channel to begin with, such as an online e-commerce store. Make sure you explain it in your business plan.

Marketing activities

In this section, you must detail how you will acquire leads and customers.

At the base level, you should do the following:

  • Launch a company website
  • Develop strategy to get organic traffic (i.e. visitors from search engines like Google)
  • Develop a PPC strategy to get immediate online exposure for your most important product/service keywords
  • Develop channel partnerships
  • Build an email subscriber list

6-market-activities

Over time, you can use marketing to nurture stronger customer relationships, which in turn, help you build an audience of loyal followers that will, hopefully, become customers.

The marketing section of your business plan will need to account for several factors, including your goals, risks in the market, and your budget. Which brings us to the final aspect of your tech startup business plan.

6. Financial Plan

Lastly, any good business plan must include pertinent details about your company budget and sales goals.

This can be daunting for many new entrepreneurs and is all the more challenging when you have no balance sheets, cash flow reports, or even any stable income on which to base your projections.

That being said, it’s still possible to make educated projections – so long as you have done solid market research.

When it comes to financial matters, your business plan should include details about:

  • Revenue streams – how will the company generate income?
  • Major expenses – What high costs do you anticipate in the year ahead?
  • Salary demands – Are you still bootstrapping or are you and the partners taking a salary? If so, how much?
  • Financial milestones – Detail your expansion strategy by considering future hires or store openings that will impact the books.

Many startups aren’t profitable in the first year. Your financial projections should maintain a long-term view for success, keeping ambitions realistic and honest. That way, you’ll be able to produce a more accurate break-even analysis .

7-break-even

With these long-term projections, you must consider the financial impact of expanding. You may be making more money in Year 3, but opening a new store will set you back.

Keep everything in perspective and make sure you don’t set yourself or your investors up for any nasty shocks down the road.

5 Tech Startup Business Plan Templates

When you have all the elements above in place, your business plan will be in good shape. However, presentation matters. If you want to make the best first impression, getting creative with your technology startup business plan template can make a big difference.

Not only will your research and expertise shine through, but you will have a visually stunning presentation that catches the eye of investors.

Here are five tech business plan examples to inspire you.

Business Plan Infographic PowerPoint

This plan allows you to present in-depth market analysis, statistics, and projections in a professional visual infographic. With several hundred editable slide options, it’s well worth the $16 fee for the license.

8-bp-infographic

Source: Medium

Emaze Business Planning With Analytics

This is more than the average technology startup business plan template. Emaze has a diverse array of creative collaboration tools, making it easy and enjoyable for teams to create unique plans together from any of the built-in templates. Furthermore, you can incorporate analytics, which is perfect for impressing investors. That said, $19 per month for the premium version may seem a little steep for some small businesses.

9-emaze-bp-crop

Source: Emaze

Lean Canvas 1-Page Business Plan

A tech startup business plan doesn’t need to take weeks to create. In fact, with this template, you can have a basic – yet brilliant – business plan all together on a single page in just 20 minutes.

10-lean-stack-crop

Source: Lean Stack

StartUp Pitch

For $15, you can access the full array of colorful slides in this presentation, which are all customizable to your needs. This template includes many ready-made aspects of the typical business plan, such as SWOT analysis, competitor analysis, and project timelines.

11-envato-crop

Source: Envato

This is another user-friendly tool for creating short business plans. You enter the information, and then LivePlan will generate a one-page plan in an infographic style.

12-liveplan-crop

Source: LivePlan

Make Your Tech Startup Business Plan a Priority

It’s not enough to have a great startup idea.

If you want to stand out from the pack, secure investment, and build a successful company that can earn real profits, growth, and customer loyalty, then you absolutely must have a solid tech startup business plan.

It’s time to create yours.

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How to Write an IT Tech Startup Business Plan [Sample Template]

Are you about starting an IT tech startup? If YES, here is a detailed sample IT tech startup business plan template & feasibility report you can use for FREE . If you are a software developer or you have a background in the ICT industry and you are looking for An IT business to start, then you need to look far because there are loads of businesses in the industry and one of them is software as a service (or SaaS) company.

Software as a service (or SaaS) is an emerging paradigm business that enables software to be delivered as a service. This is an arrangement that enables companies to expand their network capacity, and run applications directly on a vendor’s network, offer a host of advantages with the most primary being radically lowering IT costs.

The lower budgetary requirements and commitments allow even smaller companies to piece together an IT project without spending on purchasing legacy server, and storage systems. However, due to the technical nature of this business, it would be wise to consult with a business consultant before starting off.

If your business concept is a great one, the business consultant would offer you tips and suggestions on the way forward. Below is a sample IT tech startup company business plan template that can help you successfully write your own with little or no stress.

A Sample IT Tech Startup Business Plan Template

1. industry overview.

An IT technology company (often tech company) is a type of business entity that focuses on the development and manufacturing of technology products, or providing technology as a service. “Technology”, in this context, has come to mean electronics-based technology. This can include businesses relating to digital electronics, software, and internet-related services, such as e-commerce.

For the purpose of this business plan, we will be looking at software development as a service. Software as a service (or SaaS) is part of the Business Analytics and Enterprise Software Publishing industry and players in this industry consist of companies that are into ERP software, bi software, crm software, scm software and other software development and they may decide to strictly adopt the Software as a services (SaaS) Business model.

A recent report published by IBISWorld shows that the Business Analytics and Enterprise Software Publishing industry has grown steadily due to favorable demand conditions caused by high corporate profit and investment. Over the five years to 2018, industry revenue rose at an annualized rate of 7.1 percent, driven by businesses’ increased technological complexity and the eagerness to adopt efficiency-enhancing software.

The report also shows that many industry products, such as customer relationship management and enterprise resource planning software systems, have become basic tools in the management of large companies. In 2018, industry revenue is expected to rise 2.6 percent to $55.4 billion. The world’s largest software companies have spent the past five years acquiring high-performing enterprise software vendors, cloud companies and data.

The report further states that over the past five years, the Business Analytics & Enterprise Software Publishing in the US industry has grown by 7.1 percent to reach revenue of $55bn in 2018. In the same timeframe, the number of businesses has grown by 10.0 percent and the number of employees has grown by 10.2 percent.

The Business Analytics and Enterprise Software Publishing industry is indeed a growing industry and is gaining ground in most countries of the world. Statistics has it that in the united states of America alone, there are about 2,869 registered and licensed business analytics and enterprise software publishing companies (Software as a services (SaaS) business model inclusive) responsible for employing about 139,347 people and the industry rakes $55 billion annually.

The industry is projected to grow at 7.1 percent annual growth within 2013 and 2018. The companies holding the largest market share in the Business Analytics & Enterprise Software Publishing in the US industry include SAP SE, International Business Machines Corporation, Salesforce.com Inc. and Oracle Corporation.

Some of the factors that encourage entrepreneurs to start their own Software as a service (SaaS) business could be the growing recognition of economic and operational benefits and the efficiency of this business model. As companies ease out gradually from the economic uncertainties and financial shackles, widespread adoption of Software as a service is in the offing.

The successful adoption of this technology concept will pave the way for mass enterprise adoption of Software as a service in the upcoming years. The transition of enterprises from virtual machines to the cloud will additionally extend the impetus required for strong growth of Software as a service (SaaS).

Poised to score the maximum gains will be end-to end cloud-computing solutions that offer complete functionalities ranging from integration of internal and external clouds, automation of business-critical tasks, and streamlining of business processes and workflow, among others.

Over and above, starting a software as a services (SaaS) company requires professionalism and good grasp of how the ICT industry works. Besides, you would need to get the required certifications and license and also meet the standard security expected for players in the industry in the United States.

2. Executive Summary

Joel Rogers® Technologies, Inc. is an IT tech startup that will specialize in offering software as a service (SaaS). The business will be based in Overland Park – Kansas and we were able to secure a well – positioned and standard office facility.

Joel Rogers® Technologies, Inc. is a client – focused and result driven IT tech startup company that is into ERP software, bi software, crm software, scm software and other software development. We will provide broad – based software development services at an affordable fee that won’t in any way put a hole in the pocket of our clients. We will offer standard and professional services to all to our clients.

At Joel Rogers® Technologies, Inc., our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are experienced in the business analytics and enterprise software publishing industry in general.

Joel Rogers® Technologies, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.

Our plan is to position the business to become the leading brand in software as a service (SaaS) business in the whole of Overland Park – Kansas, and also to be amongst the top 10 IT tech startup companies in the United States of America within the first 10 years of operation. This might look too tall a dream but we are optimistic that this will surely be realized.

Joel Rogers® Technologies, Inc. will be owned and managed by Joel Rogers. He has a Bachelor of Technology. He is a certified SOC 2 – Trust (SOC 2 is designed specifically for SaaS operations) and has over 10 years’ experience working in related industry as a senior software engineer prior to starting Joel Rogers® Technologies, Inc.

3. Our Products and Services

Joel Rogers® Technologies, Inc. is going to offer varieties of services within the scope of the business analytics and enterprise software publishing industry in the United States of America. We are well prepared to make profits from the industry and we will do all that is permitted by the law in the United States to achieve our business goals, aim and ambition.

Our business offerings are listed below;

  • ERP software development
  • BI software development
  • CRM software development
  • SCM software development
  • Other software development

4. Our Mission and Vision Statement

  • Our vision is to build an IT tech startup company that will be among the forerunners when it comes to offering software as a service (SaaS) in the world.
  • Our mission is as an IT tech startup with bias in software as a services (SaaS) is to help a wide range of clients develop customized software that will help them simplify their businesses and operations.

Our Business Structure

Ordinarily we would have settled for two or three staff members, but as part of our plan to build a standard IT tech startup company in Overland Park – Kansas, we have perfected plans to get it right from the beginning which is why we are going to ensure that we have competent, honest and hardworking employees to occupy all the available positions in our firm.

The kind of IT tech startup company we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around Overland Park – Kansas as long as they are willing and ready to work with us.

Below is the business structure that we will build Joel Rogers® Technologies, Inc. on;

  • Chief Executive Officer
  • Programmers and Software Developers

Admin and HR Manager

  • Digital Marketers (Marketing and Sales Executive)
  • Customer Care Executive / Front Desk Officer

5. Job Roles and Responsibilities

Chief Executive Office:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Responsible for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Programmers and Software Developer

  • Responsible for designing, installing, testing and maintenance of software systems for the organization
  • Identifying areas for modification in existing programs and subsequently developing these modifications
  • Writing and implementing efficient code
  • Determining operational practicality
  • Developing quality assurance procedures
  • Training users
  • Working closely with other developers, UX designers, business and systems analysts
  • Presenting ideas for system improvements, including cost proposals
  • Working closely with analysts, designers and staff
  • Producing detailed specifications and writing the programme codes
  • Maintaining and upgrading existing systems once they are up and running
  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
  • Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
  • Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
  • Defining job positions for recruitment and managing interviewing process
  • Carrying out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Responsible for arranging travel, meetings and appointments
  • Oversee the smooth running of the daily office activities.

Marketing and Sales Executive

  • Identify, prioritize, and reach out to new partners, and business opportunities et al
  • Identifies development opportunities; follows up on development leads and contacts
  • Writing winning proposal documents, negotiate fees and rates in line with company policy
  • Responsible for handling business research, marker surveys and feasibility studies for clients
  • Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
  • Document all customer contact and information
  • Represent the company in strategic meetings
  • Help increase sales and growth for the company
  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • create reports from the information concerning the financial transactions as recorded
  • Prepare the income statement and balance sheet using the trial balance and ledgers
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting for one or more properties.
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensuring compliance with taxation legislation
  • Handles all financial transactions for the company
  • Serves as internal auditor for the company

Technical Help Desk Officer

  • Provide technical assistance and support for incoming queries and issues related to our software
  • Identifies problems and issues by performing relevant research using the appropriate tools and by following established procedures.
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s services
  • Consistently stays abreast of any new information on the company’s promotional campaigns etc. to ensure accurate and helpful information is supplied to clients

6. SWOT Analysis

Joel Rogers® Technologies, Inc. engaged the services of a professional in the area of business consulting and structuring to assist the firm in building a well – structured IT tech startup company that can favorably compete in the highly competitive business analytics and enterprise software publishing industry.

Part of what the business consultant did was to work with the management of our organization in conducting a SWOT analysis for Joel Rogers® Technologies, Inc. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Joel Rogers® Technologies, Inc.;

We can boast of a competent technical team that has analytical and critical thinking skills that can help them find creative solutions for our clients. Aside from the synergy that exists in our carefully selected workforce, we have a very strong online presence and we are well positioned to attract loads of clients from the first day we open our doors for business.

One of the weaknesses that is obvious to us is the lack of capacity and inability to compete with big players in the industry especially as it relates to economy of scales.

  • Opportunities:

The opportunities in the business analytics and enterprise software publishing industry is massive considering the fact that the world is going the way of technology, and software as a service (SaaS) is indispensable in the value chain of the info tech industry.

Some of the threats that we are likely going to face as an IT tech startup business operating in the United States are hosting issues, installation or upkeep troubles, piracy, unfavorable government policies , and global economic downturn which usually affects purchasing/spending power.

7. MARKET ANALYSIS

  • Market Trends

The advancement we are enjoying in our world today can be attributed to the advancement of technology. Technology has indeed given leverage to all aspects of human endeavor. To start with, it is the advancement of technology that landed man in the moon.

It is the advancement of technology that made communication either via the telephone or computer easier and faster. It is the advancement of technology that made transportation faster and perhaps cheaper. It is the advancement of technology that made the manufacturing of goods faster and cheaper, etc.

The technology industry is so wide and vibrant and there is still room large enough for those who are interested in the industry to come in and create their own impact. One thing is certain, the world will always celebrate any inventor who is able to invent machines or devices that can ease the process of doing things.

8. Our Target Market

We are aware that the nature of our business is geared to words serving B2B clients, hence Joel Rogers® Technologies, Inc. will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to compete with the leading IT tech startup companies that offer software as a services (SaaS) in the United States.

As a standard and licensed IT tech startup company that offers software as a service (SaaS), Joel Rogers® Technologies, Inc. will develop software apps for the following clients;

  • Financial services providers
  • Insurance companies
  • Businesses in the health sector
  • Supply chain businesses
  • Other related businesses that may need software as a services (SaaS) technology

Our competitive advantage

The level of competition in the business analytics and enterprise software publishing industry does not in any way depend on the location of the business since most companies that offer software as a service (SaaS), can operate from any part of the world and still effectively compete in the industry.

We are quite aware that to be highly competitive in the business analytics and enterprise software publishing industry means that we should be able to develop software apps that will help simplify business and operation process for clients.

Joel Rogers® Technologies, Inc. might be a new entrant into the industry in the United States of America, but the management staff are considered gurus. They are highly qualified software programmers and developers in the United States. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

We are mindful of the fact that there is fast – growing competition amongst IT tech startup companies and other players in the business analytics and enterprise software publishing industry in the United States of America and around the globe; hence we have been able to hire some of the best business developer cum digital marketers to handle our sales and marketing.

Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard IT tech startup company that offer software as a services (SaaS), that will leverage on word of mouth advertisement from satisfied clients.

Joel Rogers® Technologies, Inc. is set to make use of the following marketing and sales strategies to attract clients;

  • Introduce our business by sending introductory letters alongside our brochure to all the companies, institutions and organizations within and outside the United States
  • Promptness in bidding for software as a service (SaaS) contracts from companies, and organizations within and outside the United States
  • Advertise our business in relevant programming magazines, radio and TV stations
  • List our business on local directories/yellow pages
  • Attend international software as a services (SaaS) developers related, seminars, and business fairs et al
  • Create different packages for different category of clients in order to work with their budgets
  • Leverage on the internet to promote our business
  • Join related associations around us with the main aim of networking and marketing our services; we are likely going to get referrals from such networks.

Sources of Income

Joel Rogers® Technologies, Inc. is established with the aim of maximizing profits in the business analytics and enterprise software publishing industry and we are going to ensure that we do all it takes to attract clients on a regular basis.

Joel Rogers® Technologies, Inc. will generate income by offering the following services and products

10. Sales Forecast

We are well positioned to take on the available market in Overland Park – Kansas and in the cyberspace and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six months of operation and grow the business and our clientele base beyond Overland Park to other cities in the United States of America and in the cyberspace.

We have been able to examine the business analytics and enterprise software publishing market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. Below are the sales projections for Joel Rogers® Technologies, Inc., it is based on the location of our business and the services we will be offering;

  • First Fiscal Year (FY1):  $300,000
  • Second Fiscal Year (FY2):  $550,000
  • Third Fiscal Year (FY3):  $1.5 million

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and internet shutdown within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the software as a services (SaaS) industry by storm which is why we have made provisions for effective publicity and advertisement of our IT tech startup company.

Below are the platforms we intend to leverage on to promote and advertise Joel Rogers® Technologies, Inc.;

  • Place adverts on both print (community – based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community – based events/programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
  • Install our billboards in strategic locations all around Overland Park
  • Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

At Joel Rogers® Technologies, Inc. we will keep our product and service fees a little bit below the average market rate by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to startups, nonprofits, cooperatives, and small social enterprises who want to develop software apps for their business.

  • Payment Options

The payment policy adopted by Joel Rogers® Technologies, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Joel Rogers® Technologies, Inc. will make available to her clients;

  • Payment via bank transfer
  • Payment with cash
  • Payment via online bank transfer
  • Payment via mobile money
  • Payment via Point of Sales Machines (POS Machines)
  • Payment via check

In view of the above, we have chosen banking platforms that will enable our client make payment without any stress on their part.

13. Startup Expenditure (Budget)

These are the areas we are looking towards spending our startup capital on;

  • The total fee for incorporating the Business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services P.O.S machines – $3,300.
  • The total cost for payment of insurance policy covers (general liability, workers’ compensation and property casualty) coverage at a total premium – $9,400.
  • The amount needed to acquire a suitable Office facility in a business district for 6 months (Re – Construction of the facility inclusive) – $40,000.
  • Marketing expenses for the grand opening of Joel Rogers® Technologies, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The total cost for hiring Business Consultant – $2,500
  • The cost for equipping the office (computers, software apps and hardware such as Application-specific integrated circuit (ASIC) machines, internet server, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $25,000
  • The cost of launching our official website – $800
  • Budget for paying at least two employees for 3 months and utility bills – $75,000
  • Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
  • Miscellaneous – $10,000

Going by the report from the research and feasibility studies, we will need about Two Hundred and Fifty Thousand US Dollars ($250,000) to set up a small scale but standard IT tech startup company in the United States of America.

Generating Funds/Startup Capital for Joel Rogers® Technologies, Inc.

Joel Rogers® Technologies, Inc. is owned and managed by Joel Rogers. He may likely welcome partners later which is why he has decided to restrict the sourcing of the startup capital for the business to just three major sources.

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the bank

N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business closes shop.

One of our major goals of starting Joel Rogers® Technologies, Inc. is to build a business that will survive off its own cash flow without injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to offer our software as a services (SaaS) a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Joel Rogers® Technologies, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner of our business strategy.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more as determined by the board of the organization. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check : Completed
  • Business Incorporation: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting Feasibility Studies: Completed
  • Leasing a standard and well positioned office facility in the heart of Overland Park – Kansas: Completed
  • Generating part of the start up capital from the founder: Completed
  • Applications for Loan from our Bankers: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Promotional Materials: Completed
  • Recruitment of employees: In Progress
  • Purchase of the needed software applications, internet server, furniture, office equipment, electronic appliances and facility facelift: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business (Business PR): In Progress
  • Health and Safety and Fire Safety Arrangement: In Progress
  • Establishing business relationship with vendors and key players in the industry: In Progress.

More on Technology

IT Company Business Plan: Everything You Need to Know

An IT company business plan is a detailed plan for running and developing an information technology company. 3 min read updated on February 01, 2023

An IT company business plan is a detailed plan for running and developing an information technology company. It should describe all aspects of the business, including the company's description, product description, marketing strategy, and financial analysis, in a clear and precise manner.

Tips for Writing a Great Business Plan

A business plan should set out a clear roadmap for developing and expanding your business. Keep the following points in mind while writing a business plan:

  • Test your idea. Avoid the temptation of jumping into a business merely on the basis of the success stories of others. Discuss your idea with prospective customers, vendors, and other people in the industry.
  • Study the market to get an idea of industry trends, underlying challenges, and scope of future growth.
  • Share your business plan with your employees. It is not something to be kept confidential.
  • Write it in a clear and concise manner. Be specific, and cover all areas of the business.
  • Put the plan to use; simply filing it away will not serve any purpose. Refer to it whenever possible.
  • Revisit and revise your plan as your business grows.

Sections of a Business Plan

A typical business plan includes the following sections:

  • Executive summary.
  • Description of the company.
  • Market research.
  • Product or service description.
  • Management structure.
  • Sales and marketing strategy.
  • Financial Analysis.

Benefits of Writing a Business Plan

Writing down your business plan offers the following benefits, among others:

  • You get to understand your business better.
  • It increases the chances of your business's success.
  • It makes it easier to raise capital for a startup.
  • Businesses with a written plan grow at a higher rate than those without any written plan.

Steps to Writing a Startup Business Plan

1. Have a Clear Objective

  • Make sure that the company description is not ambiguous. The company description can also include your business's mission statement.
  • State the reason for choosing that specific business. For example, you might be prompted to open a restaurant because no other restaurants in your area serve the cuisine your restaurant specializes in.
  • Discuss the vision and growth prospects of your business in brief.

The summary should be concise and should not exceed four paragraphs.

2. Identify Your Target Market

Narrow down your target market based on geography, demography, psychology, and behavior. Your final target market may look like the following:

  • Ages 20 to 35
  • Living in the New York area
  • With an annual income of $50,000-$60,000
  • Who are interested in recycling and sustainable living

3. Analyze the Competition

Perform a competition analysis and differentiate your product accordingly. Price and quality can be two important differentiating factors. You should analyze the competition while simultaneously identifying your target market since both these steps are a part of the market research section of your business plan.

4. Prepare a Budget

Estimate the amount of funds you will need to start and operate the business. Many startups fail due to lack of funds. Preparing a budget beforehand will reduce this risk. When calculating your budget, consider all possible expenses, including the following:

  • Cost of equipment.
  • Money required for buying or leasing property.
  • Legal fees.
  • Employees' salaries.
  • Insurance premiums.
  • Inventory cost.

5. Make Financial Projections

Prepare financial projections based on the size of your target market and your expected market share. Include the expansion strategy in your projections. Keep your projections reasonable and make sure you cover three to five years of operations.

6. Define Your Business Structure

Define the organizational structure of your business. Having a clear hierarchy of power removes unnecessary doubt and debates over jobs and reporting positions. However, avoid adding too many layers in your business structure since that may create confusion and make the communication inefficient.

7. Prepare a Marketing Plan

A well-balanced marketing plan should include a strategy for customer acquisition in line with your target market, budget, and financial projections.

Some of the basic ideas for a marketing plan include the following:

  • Launching a website.
  • Being active on social media.
  • Building a subscribers' list.
  • Setting up loyalty programs.

8. Keep It Short and Simple

Although your business plan should be detailed and thorough, make it a point to keep it short and simple. Write it professionally and avoid using jargon. Proofread the plan for grammar, readability, and confusion.

If you need help with IT company business plan, you can post your legal need on UpCounsel's marketplace. UpCounsel accepts only the top 5 percent of lawyers to its site. Lawyers on UpCounsel come from law schools such as Harvard Law and Yale Law and average 14 years of legal experience, including work with or on behalf of companies like Google, Menlo Ventures, and Airbnb.

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Content Approved by UpCounsel

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  • Sample of a Good Business Plan
  • Service Business Plan
  • Business Plan for Existing Company
  • Business Plan for New Company
  • Do I Need a Business Plan
  • Parts of Business Plan and Definition
  • LLC Business Plan Template
  • Business Plan Contents Page
  • Business Description Outline

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Technology Business Plan Template

Written by Dave Lavinsky

Technology Business Plan

You’ve come to the right place to create your own Technology business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Technology businesses.

Technology Business Plan Example & Template

Below is a Technology business plan template and sample to help you create each section of your own business plan.

Executive Summary

Business overview.

Kearney Tech Inc., located in Houston, Texas is a tech startup that focuses on developing and commercializing new artificial intelligence (AI) technology applications designed for small-to-medium sized businesses. The company has created proprietary technology that helps businesses improve their profitability by using AI to increase customer engagement. We offer multiple products, including AI hardware, marketing AI software, and CRM AI software. Many of our most basic services are free, but the rest can be accessed by paying a subscription fee. By providing flexible and affordable subscription options for our clients, Kearney Tech Inc. aims to be the next big technology company in the AI space for small and medium-sized businesses.

Kearney Tech Inc. was founded and is led by Abigail Kearney. Abigail has been a senior software engineer for nearly 10 years and has extensive experience in artificial intelligence and machine learning. In addition to her experience, she has a bachelor’s degree in computer science and an MBA. Her education and experience are sure to lead Kearney Tech Inc. to success.

Product Offering

Kearney Tech Inc. will showcase a variety of different applications for its AI technology that companies can utilize to increase their customer engagement from day one. Businesses can choose the platform package that works for them, based on a freemium subscription pricing structure.

The following are the services that Kearney Tech Inc. will provide:

  • AI Hardware
  • Marketing AI Software
  • Customer Relationship Management AI Software
  • Customer Support AI Software
  • Technology Training: Training sessions on how to use our AI solutions and integrate them into their businesses

Customer Focus

Kearney Tech Inc. will serve small to medium-sized businesses within a 30-mile radius of Houston, Texas. Many of the businesses in our target demographic are startups looking to expand their reach and thus would benefit from technology that can increase their customer base.

Management Team

Kearney Tech Inc. will also employ an experienced assistant to work as a business analyst and help with various administrative duties around the office. She will also hire several developers, salesmen, and other administrative staff to assist her.

Success Factors

Kearney Tech Inc. will be able to achieve success by offering the following competitive advantages:

  • Management: Abigail Kearney has been extremely successful working in the technology industry and will be able to use her previous experience to provide the best service experience. Her unique qualifications will serve customers in a much more sophisticated manner than Kearney Tech Inc.’s competitors.
  • Relationships: Abigail Kearney knows many of the local leaders, business managers, and other influencers within Houston, Texas. With her 10 years of experience and good relationships with business leaders in the area, she will be able to develop an initial client base.
  • Proprietary technology : The company has developed proprietary AI technology that will be used to add new data sources, expand on valuable insights, launch advanced features like benchmarking, provide predictive and prescriptive analytics, and ensure self-guided data discovery.
  • Client-oriented service: Kearney Tech Inc. will have full-time customer service and sales managers to keep in contact with clients and answer their everyday questions.

Financial Highlights

Kearney Tech Inc. is seeking a total funding of $400,000 of debt capital to open its office. The funding will be dedicated to office design, software development, marketing, and working capital. Specifically, these funds will be used as follows:

  • Office design/build: $50,000
  • Software development: $150,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $25,000
  • Working capital: $25,000

The following graph below outlines the pro forma financial projections for Kearney Tech Inc.:

Technology Business Plan Template Financial Highlights

Company Overview

Who is kearney tech inc..

Abigail began researching what it would take to create her own technology company and did a thorough analysis of the costs, market, demographics, and competition. Abigail has compiled enough information to develop her business plan in order to approach investors.

Kearney Tech Inc.’s History

Once her market analysis was complete, Abigail Kearney began surveying the local vacant office space and located an ideal location to house the technology company. Abigail Kearney incorporated Kearney Tech Inc. as a Limited Liability Corporation in April 2023.

Since incorporation, the company has achieved the following milestones:

  • Located available office space for rent
  • Developed the company’s name, logo, and website
  • Determined equipment and necessary supplies
  • Began recruiting key employees

Kearney Tech Inc. Services

Industry analysis.

As of 2021, the global technology industry was valued at approximately $5.2T. Of all countries worldwide, the United States currently has the largest technology market, with 32% of the market share at $1.7T. The technology industry in the U.S. accounts for a large part of the nation’s economy.

The Information Technology market can be segmented by categories such as software, devices, infrastructure IT and business services, emerging technology, and telecom services. In the United States, IT and business services hold the greatest market share (30%), followed by software (20%) and telecom services (20%).

Market drivers include the economy, employment rates, and the digital transformation of daily life for a growing number of people and businesses worldwide. Corporations and organizations are seeking IT service providers that can help improve their software, cybersecurity, data, and infrastructure. Technology companies that can provide products and services that cater to these issues can be competitive in the constantly evolving market.

Technology is an integral part of society. Developments in AI and machine learning are essential to keep society moving forward and make businesses more efficient. Therefore, businesses will always be in need of AI solutions to bring in more customers and streamline their services and products. According to Market Watch, the Technology industry is set to grow at a CAGR of 25.73% from now until 2027. Very few industries see this growth, which shows how much demand there is for technological solutions. Therefore, we expect Kearney Tech Inc. to see great success in our local market.

Customer Analysis

Demographic profile of target market.

Kearney Tech Inc. will serve the small and medium-sized businesses of Houston, Texas, and the surrounding areas.

Many small businesses in the community are startups or established enterprises looking to expand their reach and thus would benefit from technology that can increase their customer engagement.

Customer Segmentation

Kearney Tech Inc. will primarily target the following customer profiles:

  • Small businesses
  • Medium-sized businesses

Competitive Analysis

Direct and indirect competitors.

Kearney Tech Inc. will face competition from other companies with similar business profiles. A description of each competitor company is below.  

Tekuserv has been a reliable technology company in Houston, Texas for more than fifteen years. The company is known for its wide range of technology solutions that serve many small-to-medium-sized businesses. With its large number of experts focused on delivering customer satisfaction, the organization maintains its high standard of developing quality products and providing exceptional customer service. Tekuserv provides business software on a freemium subscription basis. It develops enterprise technology solutions with a focus on customer relationship management.  

Prime AI Business Solutions

Prime AI Business Solutions is a technology development company in Houston, Texas. In business for several years, the company has developed highly-rated AI solutions used by many well-known businesses in a variety of industries. Prime AI Business Solutions now offers a range of AI hardware and software products geared toward helping businesses of all sizes increase their customer base. The company has also introduced a “pay-as-you-grow” pricing model that scales to provide users with more support as they scale up.  

AICE Developments

AICE stands for Artificial Intelligence for Customer Engagement. AICE Developments is also a local technology company that manufactures and distributes a variety of technology products. AICE Developments was established in 2009 in Houston, Texas, providing integrated AI applications and platform services. Its products include applications and infrastructure offerings delivered through various IT deployment models, including on-premise deployments, cloud-based deployments, and hybrid deployments. The company serves automotive, financial services, healthcare, hospitality, retail, utilities, construction, etc. It provides AI solutions for enterprise marketing and customer engagement.

Competitive Advantage

Kearney Tech Inc. will be able to offer the following advantages over the competition:

  • Proprietary technology: The company has developed proprietary AI technology that will be used to add new data sources, expand on valuable insights, launch advanced features like benchmarking, provide predictive and prescriptive analytics, and ensure self-guided data discovery.

Marketing Plan

Brand & value proposition.

Kearney Tech Inc. will offer a unique value proposition to its clientele:

  • Service built on long-term relationships
  • Big-firm expertise in a small-firm environment
  • Thorough knowledge of the clients and their varying needs
  • Proprietary technology developed by skilled software engineers

Promotions Strategy

The promotions strategy for Kearney Tech Inc. is as follows:

Kearney Tech Inc. understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer other businesses by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Social Media

Kearney Tech Inc. will invest heavily in a social media advertising campaign. The brand manager will create the company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO

Kearney Tech Inc. will invest heavily in developing a professional website that displays all of the features and benefits of the technology company. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Direct Mail

Kearney Tech Inc. will blanket businesses with direct mail pieces. These pieces will provide general information on Kearney Tech Inc., offer discounts, and/or provide other incentives for companies to use the AI platform.

Kearney Tech Inc.’s pricing will be on par with competitors so clients feel they receive great value when purchasing the technology.

Operations Plan

The following will be the operations plan for Kearney Tech Inc.:

Operation Functions:

  • Abigail Kearney will be the Owner and CEO of the company. She will oversee all the operations and executive functions of the company. In the beginning, she will also provide customer support and market/sell AI products to potential clients.
  • Abigail will employ an experienced assistant to work as a business analyst and help with various administrative duties around the office.
  • Abigail will also hire several developers to maintain and develop AI products and services.
  • Abigail will also hire a solid sales team to sell our products to potential clients. As the company grows, she will also hire a team that is solely dedicated to customer service.

Milestones:

Kearney Tech Inc. will have the following milestones completed in the next six months.

5/2023 – Finalize lease agreement

6/2023 – Design and build out Kearney Tech Inc.

7/2023 – Hire and train initial staff

8/2023 – Kickoff of promotional campaign

9/2023 – Launch Kearney Tech Inc.

10/2023 – Reach break-even

Financial Plan

Key revenue & costs.

Kearney Tech Inc.’s revenues will come primarily from its technology solution subscription sales. The company will use a freemium subscription model, in which basic functions can be used by any company for free. Additional solutions and support will be available in a tiered package model based on the enterprises’ size and the number of users.

The office lease, equipment, supplies, and labor expenses will be the key cost drivers of Kearney Tech Inc. Ongoing marketing expenditures are also notable cost drivers for Kearney Tech Inc.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

  • Average number of clients per month
  • Annual rent: $20,000

Financial Projections

Income statement, balance sheet, cash flow statement, technology business plan faqs, what is a technology business plan.

A technology business plan is a plan to start and/or grow your technology business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your Technology business plan using our Technology Business Plan Template here .

What are the Main Types of Technology Businesses?

There are a number of different kinds of technology businesses, some examples include: Network technology, Software technology, and Customer relationship technology.

How Do You Get Funding for Your Technology Business Plan?

Technology businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Technology Business?

Starting a technology business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Technology Business Plan - The first step in starting a business is to create a detailed technology business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your technology business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your technology business is in compliance with local laws.

3. Register Your Technology Business - Once you have chosen a legal structure, the next step is to register your technology business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your technology business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Technology Equipment & Supplies - In order to start your technology business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your technology business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful Technology business: How to Start a Tech Company

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7 Elements to Successfully Write a Tech Startup Business Plan

Vy Le

Vy Le | 18/05/2023

7 Elements to Successfully Write a Tech Startup Business Plan

When it comes to starting a tech business, having a well-crafted tech business plan is crucial to attract investors and succeed in the competitive market landscape. A business plan outlines your company’s vision, strategy, and financial plan over time, giving potential investors insight into your business model and growth potential.

However, writing a tech startup business plan can be a daunting task, especially for new entrepreneurs that lack experience in the tech industry. In this article, we’ll provide you with a comprehensive guide on writing a tech startup business plan that will impress investors and help you succeed in the fast-paced tech startup world.

What is a Tech Startup Business Plan?

What is a Tech Startup Business Plan?

A tech startup business plan is a comprehensive document that outlines the goals, objectives, and strategies of a technology-based startup company. It is a crucial tool that helps entrepreneurs in the tech industry to define and organize their ideas, demonstrate the feasibility of their business concept, and present a clear plan for how they intend to build and grow their company.

Generally, most business plans typically include a summary of the company history, the problem it is solving, the target audience, competitive analysis, the marketing and sales strategy, the development strategy, and the financial plan. Also, such a document may include details about the management team, operations, and product development roadmap.

Particularly for the technology sector, the tech startup business plan also includes more specialized elements. Specifically, it is important to focus on the e-commerce technology trends being developed and how it addresses a gap or problem in the market while building such a document. This includes details such as the software or hardware being constructed, the technology stack being used, its technical architecture, and how it will improve or disrupt existing technology solutions.

Overall, a well-crafted business plan can help secure funding from potential investors or lenders, attract top talent, and ultimately guide the company toward success.

10 Core Questions to Answer When Conducting a Tech Startup Business Plan

For a tech startup business to build a good business plan, keep in your mind these questions and find the answers for yourself along the way. Answering these questions will help your startup team formulate a clear and compelling business plan/business idea, which can be used to guide the tech startup founder toward success.

1. Which product or service does your tech startup offer?

2. What is the team structure, and who are the key members?

3. Who is your target audience for the product or service?

4. Who are the competitors?

5. What are your competitive advantages?

6. What is your marketing strategy, and how do you leverage marketing channels?

7. What is your sales plan, and how do you leverage sales channels?

8. What is your financial plan, including projections for revenue, expenses, and funding needed?

9. What are the risks and challenges the business may face?

10. What is your timeline for product development, launch, and growth?

3 Reasons Why You Need a Technology Startup Business Plan

But why do businesses compose a tech startup business plan at the beginning of the software development process? There must be reasons. Check them out now!

3 Reasons Why You Need a Technology Startup Business Plan

Providing a Blueprint for Success

According to a Harvard Business Review study , startups that write a detailed business plan have a 16% chance to achieve viability than businesses that don’t. This metric proves the usefulness of this action.

By systematizing the business idea into a complete tech startup business plan, you give the business itself and each team member a clear picture of the company’s goals, vision, and strategies. While people are a prerequisite for an organization’s success, understanding the product’s direction will help each individual in the development team structure closely link together throughout the software development process and shorten product completion time.

Raising Capital from Investors

In the tech industry, startups often require significant amounts of capital to fund product development, hire staff, and invest in marketing and sales efforts. Raising such funds from investors is often necessary for startups’ future growth and success.

However, among the hundreds of thousands of startups out there, what sets your business apart from all of them? It is a specific technology startup business plan that is well-written to demonstrate.

Prospective investors and venture capitalists do not spend their money arbitrarily on poorly invested projects because, ultimately, they care about the return on investment (ROI). Investors are usually drawn to companies that understand their market and have a plan to tackle the market gap, and a well-curated business plan can make a tech startup stand out from the crowd.

Attract Top Talent

Suppose you don’t intend to use outsourced software development services to quickly build a development team of professionals and want to recruit developers for your startup yourself . A tech startup business plan can help in this situation.

A technology startup business plan can showcase the unique features of the business and its competitive advantage in a crowded market. Therefore, it can become a valuable tool for convincing top talent to join the team, especially if the company’s plans align with professionals’ aspirations and career goals.

7 Essential Elements to Write a Business Plan for Your Tech Startup

Your business idea can be good. But to easily realize it and stick to the outlined roadmap, you must present them in a systematic document. To do this, don’t skip the seven key elements to conduct a tech startup business plan below.

7 Essential Elements to Write a Business Plan for Your Tech Startup

Executive Summary

The executive summary is the most critical component of a tech startup business plan as it gives the reader a first-hand look at your product/service. An executive summary is a brief overview of your entire tech startup business plan, providing context for the reader and summarizing all the key points. It is usually the first section of the business plan and is customized to reflect the company’s goals, values, and unique selling points in a way that inspires the reader’s confidence in the startup.

An excellent executive summary in a software startup business plan typically includes the general situation of the target market or related industry based on conducted market research and an overview of the software solution you offer. Other information, such as unique value proposition (UVP), competitors in the same segment, and the company’s goal, can also be included in the executive summary as an optional option.

The advice is not to write the executive summary too long and vague, lacking focus on the main ideas. It is recommended to keep it within two pages to optimize visual efficiency and avoid boring the reader. Use the executive summary as an opportunity to showcase your tech startup’s strengths before diving into the details later on.

Company Description

If the executive summary is the section that presents all the overview data about your product or service, the company description in a technology startup business plan is the part that gives the reader a clearer view of your entire tech startup, or what we call a company overview.

This section should provide a clear understanding of the business to potential partners or customers and inspire confidence in the startup . There are many primary elements that make up a complete company description. So, it will be hard if tech startup founders don’t start small. Draft fundamental ideas and gradually develop them into complete content until they meet all the needs of a business plan.

Here are some main elements to consider when writing a company description: tech company’s name, company history, business model, vision, mission, legal structure (whether it is a sole proprietorship, partnership, LLC, or corporation.), management team structure (each role and responsibilities) and competitive advantage.

Target Market Research

By doing target market research, a tech startup is able to figure out three key elements for a tech startup’s business plan. These are the total addressable market (TAM), technology market trends, target customer groups, and competitor analysis.

  • The total addressable market (TAM) is the target market’s total size that helps assess potential future revenue streams and justify the business case.
  • Market trends help tech startups stay up to date with market demand, ever-changing information technology, and changes in perspective customers’ behavior.
  • Target audience gives tech startups a better understanding of their potential customers by gathering demographic, geographic, and behavior factors.
  • The competitor analysis section of your business plan helps tech company in identifying their direct competitors and understand their own strengths and weaknesses to promote competitive advantage better.

Target market research not only benefits the startup company but also shows your investment and determination in the product or service.

Product/Service Line

It’s time to be more descriptive of the product or service your company offers rather than just general, like in the executive summary. Because the purpose of a startup business plan is generally still to introduce products to potential customers, this section should be written carefully and go into detail to demonstrate the product’s uniqueness and promising growth potentials.

Some elements to consider when writing a business plan include:

  • Product or service explanation: This includes key features and benefits, how it works, and how it is different from other solutions in the market.
  • Value proposition: Clearly stating how your product fulfills a customer need and backing it up with evidence.
  • Product development: Providing a product development roadmap by outlining your timeline and steps to achieve further development goals.

Team Structure

The team structure is an essential part of a tech startup business plan. It gives investors and stakeholders insight into the management team’s ability to execute the business plan and the team’s capacity to bring the idea to fruition.

In this part of the business plan, it is vital to highlight the leadership team and their roles. Start by introducing your founders and executive team and describe their previous experience and expertise with a proven track record that makes them qualified to lead the company. For investors to easily visualize the development team of your startup business, using a graphic, such as an organizational chart, can help.

Next, outline the roles and responsibilities of each member of your team , including any advisors or board members. Remember to describe carefully how each team member will contribute and cooperate to the successful company and how their respective skill sets complement, and experience are relevant to the tech industry.

Goals and plans for the future of the leadership team and development team members can also be written in the business plan as a supplement. For example, you expect to expand your team within one year by hiring additional staff or bringing on new partners or investors. All must be written in a clear, concise, and focused manner.

Marketing and Sales Plan

A product or service with good quality is only part of it when marketing and sales plans are exactly the activities that bring users and profits to the company. The marketing and sales plan section of a tech startup business plan will serve as a critical component that outlines how your company plans to acquire and retain customers, generate revenue, and achieve sustainable growth.

Regarding the marketing strategy, since you have already defined the target audience in the target market research section of the business plan, you only need to briefly repeat this section to once again help investors develop a comprehensive understanding of your ideal customer and their buying behavior. Next, don’t forget to differentiate your product or service from competitors and effectively manage your marketing plan by describing your unique value proposition. Consider using social media advertising, SEO, content marketing, email marketing, and public relations as tactics to reach your audience and successfully execute a marketing plan.

After your marketing efforts, it’s time to build your business plan and a suitable sales strategy. The basic elements of sales strategies adopted by many startups include sales approach, pricing strategy, sales channels, and sales team structure, which provides a clear path for converting leads into paying customers.

To measure the success of your marketing and sales efforts, track progress, and make data-driven decisions, you should identify key performance indicators (KPIs) such as website traffic, conversion rates, customer acquisition cost, and revenue generated.

Financial Projections

Running out of cash is one of the primary reasons why many businesses fail. Building a financial plan right from the start will make it easier to manage expenses and manage risks for your software solution. There is no fixed financial plan of the business plan as each startup has different business orientations and goals.

However, one of the most vital aspects of this section is the sales forecast, which details how your company plans to generate revenue, including the sales channels you will use, your pricing strategy, and your projected customer acquisition rate.

The cash flow statement and the balance sheet are also important elements in a basic financial plan. The balance sheet provides a snapshot of the company’s financial health and helps you make informed decisions about your operations and growth strategies. The cash flow statement identifies how much money you expect to have on hand each month, taking into account both revenue and expense forecasts.

Final Thought

Tech Startup Business Plan

As for business plans, there is no single startup business plan template that is a perfect fit for your project since there is no startup like any other in the technology market. Each startup has different characteristics and different product businesses. Some companies set up a business plan to raise capital for a banking product . Meanwhile, there are companies that are working on human resources software.

So, start a business plan from small things. Take note of all your ideas on paper and discuss them in turn with the development team is Orient Software ’s advice.

With years of experience in the field of information technology, Orient is confident of having the ability to advise you on all problematic aspects of the industry. Contact us for more details !

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How to Write a Software Startup Business Plan in 2024 [With Templates]

Updated 28 Aug 2023

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Every company is rooted in a unique business concept. However, having ideas isn’t enough for a company's prosperity and success. Many startups fail due to faulty training in their first year. An IT startup business plan is the first thing that can be corrected by organizing your thoughts and even finding the right people to work with, turning your idea into a prosperous project.

We'll cover how to write a startup business plan, thoroughly covering each part, give some advice, section templates, and more.

Why Does Your Startup Need a Business Plan

Before we go into precise statistics and data, let’s have a closer look at the notion of a business plan. It will assist you in better navigating the subject. The tech startup business plan is a document that summarizes strategies and ideas for the new company launch, support, and even an exit.

Now, we’ll look at stats to understand why a business plan is required. Startups fall due to a bunch of reasons: among the most widespread ones, CBInsights mentions running out of funds (for 38% of startups), absence of market need (for 35%), etc. A business plan can raise startup success chances.

Such a document serves companies for different purposes. The most common of them are:

  • Attracting investments
  • Building a development strategy
  • Predicting your upcoming financial expenses and needs

How can the IT startup business plan assist business owners in implementing these purposes into life? It’s possible due to the following benefits such a document brings:

tech business plan benefits of use

A technology business plan benefits

Remember that to gain these benefits, you must adhere to a specific structure when drafting your startup business plan. It must contain the following parts:

  • Executive summary
  • Company description
  • Marketing plan
  • Financial projections
  • Team structure

“How to write a startup business plan” is a common question, and many entrepreneurs are looking for an answer. We’ll discuss it in detail, looking closely at each section.

Executive Summary of Technology Company Business Plan

This section serves as an introduction to the entire document. A well-written executive summary grabs readers' attention and instantly illustrates what your technology business plan is all about.

It typically includes the following parts:

Business overview

Introduce your startup to readers, tell them about your plans and offers. This section should be short - about 1-3 sentences.

Target market

Define the target market for your startup company. To make the section more useful and demonstrate your future startup value, provide a detailed market overview and client issues you would solve with your product.

Competition

Portray your possible competitors as well as the attributes that will set your company apart. Describe how you will compete in pricing, quality, or service structure in this part of the executive summary in your software startup business plan.

Emphasize your company's goals and particular milestones, illustrating the said with charts (including profit, sales, and ROI) for greater clarity of prospective investors. Think about financial estimates for different periods.

Briefly describe your team composition or tell about the lack of particular specialists and your possible ways to find them. Portray the existing staff members along with their experience, and don’t forget to mention software development partnership .

The final section tells potential investors how much money you'll need to bring your idea to life. Tell this aspect to stakeholders beforehand, including the appropriate data to the executive summary.

Sometimes even the perfect technology company business plan is not enough for the stakeholders to pay attention to your project. They’ve reviewed piles of such documents, so one more, looking like the previous, may not interest them a lot. But you can change the situation by preparing a presentation of your business plan, where you can mark the vital concepts you’d like to share (e.g., company overview, problems you’d like to solve, startup team composition, etc.).

6 Tips to Create an A+ Executive Summary

We've compiled a list of recommendations to help you create an excellent executive summary of the whole technology startup business plan.

Tip #1. Write it last

Executive summaries should be written last as they summarize the entire business plan. That's why you should complete your research for all areas of your startup business plan and then write the executive summary.

Tip #2. Capture readers’ attention

An executive summary's main objective is to emphasize critical information about the tech company business plan. But, it's vital not to overload the summary with unnecessary details regarding the concept. It should grab people's interest and make them want to learn more.

Tip #3. Keep it structured

A well-defined structure of summary will convey your ideas. Consider including an introduction, main body, and conclusion that are short but informative. The important takeaways from your tech business plan would be provided by this structure.

Tip #4. Mention exit strategy

An exit strategy is an essential part for stakeholders. It can be an acquisition by another company after running technical due diligence , share selling, or employee buyout.

Tip #5. Use facts

Your primary goal is to persuade people to invest in your company. If your startup's goals, experience, and market perspectives are based on facts, they will have more impact. For instance, you may give information about market valuation and your expected market share.

Tip #6. Avoid cliches

There are a few hazards to avoid if you want your executive summary to succeed. For example, don’t mention the team’s passion and enthusiasm. Investors already know it. They’ve seen hundreds of passionate startups before. Instead, provide decision-makers with facts and let them say that for you.

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Company Description

The company description section of a technical business plan exposes its history, aims, team structure, etc. However, it is frequently the shortest part of the business plan.

Company history

This part is based on your company's current stage. If you're an established organization looking for money for a new project, it's a good idea to provide investors with some company background. In case you are a startup business without a rich history, you may tell who is behind the company and how the founders came up with the idea.

Give a brief description of your company's location, including a physical address, or inform investors about your prospective location coordinates. Whether you'll buy or rent an office, as well as how long you'll be using it as a company location. If you have a home office, also indicate this aspect.

Type of business

This section provides information about your industry. It should be brief but not excessively so. Don't write something like, "We're going to sell things." Indicate your domain: travel, healthcare industry, etc. Finish this section off with a domain description.

Management and employees

This is a chance for investors to get acquainted with your team. Mention all staff members and management personnel, defining their duties, abilities, experience, and accomplishments. Also, don't forget to include information about yourself as an opening. Describe any gaps in the team (if you have ones) and explain how you plan to fill them.

Legal structure and ownership

This data is critical for investors because taxation varies based on the legal structure. Specify if you're an LLC, a C-Corp, an S-Corp, a Sole proprietor, or in a partnership. Specify who runs the enterprise and what technical co-founder equity they have.

Company’s mission and principles

Write this part in a creative manner. Come up with one or two lines that precisely define the aims and ideals of your business.

Business plan company description parts

Critical parts of Company description

You can also include the following parts in this section of a tech business plan:

Business scaling strategies

Scaling a business equates to laying the groundwork for your company's future development. So, writing this section of the business plan for technology company, think about appropriate systems, personnel, procedures, technology, or funding — everything you need to scale.

Business opportunities

Prospective investors want to understand why your company’s considered to be profitable. Tell them about your business opportunities, offering information about factors of your future success, specialists you’ve consulted about your business, and their thoughts about it, reasons for selling the certain articles/services, and profit they may bring, etc.

Marketing Plan

It outlines the company's competitive advantage as well as its marketing objectives. This part of the business plan for startup also aids in the particular domain identification and the development of a viable business strategy.

Moreover, you can define and put down such important data as a qualitative concept description and strategies for attracting clients to show stakeholders how to differentiate your startup activity from your competitors’ and ways you may engage the users to cooperate.

This part of the business plan for a tech startup is typically divided into three sections:

marketing plan components in business plan

Marketing plan components in a nutshell

Target Audience Analysis

Customers are vital to every company. So, you must determine to whom you will offer your services. Begin with easy tasks and work your way up to more complicated ones.

Let's say your firm is an online car parts store that you want to open on the West Coast of the USA. Your potential core audience may look like this after brainstorming:

  • Gender (Males)
  • Age (16 - 60)
  • Location (Los Angeles, CA)
  • Education (Secondary)
  • Income ($60,000 - $75,000)
  • Ethnicity (drivers, service stations workers)

After determining general characteristics, it is time to dive deeper into the analysis. It can be done in a variety of ways in every sample business plan for tech startup.

Conduct surveys

According to your audience assumptions, you may collect focus groups and conduct surveys. It is possible to complete them both online and personally for technology business plans. Surveys can help you learn more about your consumers to provide better service.

Analyze competitor’s audience

Competitors already meet consumers’ needs, and your task is to identify their audience and understand what makes them use their product or service.

Examine your rivals' marketing channels to see how they do it. Visit their websites, follow them on social media, and sign up for their newsletter. These procedures will assist you in identifying the pain areas of your clients.

Create a buyer persona

The final stage in the target audience study is to create a buyer persona based on the research findings from prior steps of every tech business plan example. Let's take a closer look at it.

A buyer persona is an ideal consumer description, including how they use their leisure time, the obstacles they face, and their decisions. Such a description may be created using various methods. For example, HubSpot's Make My Persona product works perfectly for it.

Learn more about how to define target audience in our article!

Competitor Analysis

Competitor research is critical to the company's success. It allows you to have a deeper understanding of your target market, as well as identify competitors, their tactics, and offerings, among other things.

You should follow three phases while conducting a competitive analysis for a business plan for tech startup.

Step #1. Find competitors

Start by searching for basic requests in Google. Make a list of your rivals in the same business as you and have similar ideas. After that, do some in-depth research, analyzing their social media posts, news reports, or consumer reviews.

Step #2. Examine them

It’s time to dig deeper. But keep in mind that you may need special tools like Ahrefs or SimilarWeb. Carefully examine the following criteria essential for every tech business plan sample:

Pricing. Analyze the charges for their services. It will assist you in determining the pricing boundaries for your goods. However, bear in mind that you are not obligated to value your product lower than your competitors in order to win the competition.

Organic traffic. Determine how many visits they receive due to a Google search. These metrics will display the popularity of your competitors. To handle them, you can use tools like Ahrefs, SimilarWeb, and Alexa.

Social media mentions. It's another way to look into your opponents' activities and see what consumers say about them. With tools like Followerwonk, Social Searcher, and Sprout Social, you can monitor engagement rates, keywords chosen, or social shares and mark them in your business plan.

Time on the market. You must determine the time on the market to see if you will compete with a major company or a start-up. The WHOis.net service may be used to examine the domain name registration date, server stats, and contact information.

Step #3. Categorize them

Even having learnt everything about your competition, you still need to watch your rivals and follow their movements. The next step would be to split competitors into three categories based on their “danger level”:

Primary competitors

These are the main ones oriented to the same core audience as you.

Secondary competitors

They can provide high or low-level versions of your services to a different target audience than yours.

Tertiary competitors

They are indirectly related to your company.

SWOT Analysis

It’s the final step of the section in every tech startup business plan example.

SWOT is an abbreviation of Strengths, Weaknesses, Opportunities, and Threats:

  • Strengths contain your strengths, killing features, and those able to help stand out from the competition.
  • Weaknesses mean your weak sides and flaws that may slow you down in a competitive race.
  • Opportunities are the levers that’ll help you in business development.
  • Threats are external threats that may impact your startup yet don’t depend on your decisions.

The SWOT matrix is a tool used by businesses to compile all their data into one page. To simplify this process, we recommend using the below technology business plan template (namely, one for SWOT analysis).

SWOT analysis example

SWOT analysis template

Financial Plan

A financial plan is a projection of future income and costs for your business. It's an important aspect of strategic planning that can turn vague objectives into concrete milestones.

Complete the following parts in your business plan tech startup example or create them yourself:

Balance sheet

This part illustrates your present financial situation. A balance sheet is a wonderful method to forecast your future financial condition and design your growth objectives if you're searching for finances.

Expense projections

You must plan your future expenses classified into fixed and recurring costs to make your concept clearer to stakeholders. In general, estimate how much money will be spent on your idea implementation and how frequent these expenses would be.

Income projections

This part of the business plan tech startup needs summarizes the project's future earnings and sales. To begin with, you must predict your product's sales. After that, forecast the possible revenue for your startup using the sales projection.

Cash flow projections

The cash flow estimates are the last element of the financial plan. In a nutshell, it's a summary of all the money going in and out of the company. It shows your company's financial health at all stages of development, including the company's income and expenses. Depending on it, the remaining cash balance is calculated for a given time.

Monetization strategies

A company establishment and a beginning of the product development flow are only half of the way to market launch, impossible without a proper monetization strategy — a method of future profit gaining. For example, if your upcoming product is a fitness mobile application, you can implement advertisements, in-app purchases, freemium strategy, and others.

For successfully hitting your aims, you should know your destination, as well as the tools and methods you need to achieve established objectives. All this information can be included in your sales plan.

Though it’s considered to be a separate document looking like the business plan, the essential difference is that the business plan contains your objectives, and the sales plan mentions how to achieve them.

You can also include a sales plan as a section in a startup business plan, containing your situation assessment, financial forecasting, resources, revenue targets, etc. Document templates (for example, one from 150 Startups below) will help you understand which direction to choose.

financial plan section

Financial plan section

Tips to Make a Financial Plan

Preparing a financial strategy for a starting firm might be difficult, but it is essential for any business plan. To make the process easier, we've compiled four helpful hints answering how to write a business plan for a tech startup, namely this section.

Keep your financial plan in line with the business plan

The statistics in your financial predictions should back up all of your verbal goals outlined in earlier parts. For example, if you want to launch your product in the third quarter of 2022, you'll need to budget for marketing, shipping, and other expenses during that time.

Your financial assumptions must be clear

Even if the precision in figures of a financial plan is critical, most investors care about your projections comprehension. Demonstrate your understanding to them, providing enough material to back up your financial assumptions: annual financial statements, market/competitor analysis data, etc.

Be optimistic yet realistic

Even a significant financial plan requires a healthy dose of optimism. But don't go too far with it, or you'll come out as a dreamer to the investors. It's critical to balance the accuracy of the facts and the need to show a financially viable project to stakeholders.

Use templates

Many business owners have no clue where to start when creating a financial strategy or how to present it. If so, use pre-made templates with all of the essential sheets and columns.

Get a startup plan: explained!

Entrust to Cleveroad experts your business planning for software development project

Team Structure

This is the final section of the business plan, informing investors about your startup's organizational structure. It may contain the following parts:

Management Team

Team composition is essential for a proper startup functioning, as well as for its future growth. If you’re going to launch a software development company, at the beginning of the startup’s existence, your project team formed may include:

  • Chief Executive Officer (CEO) — an expert responsible for company management, supervising, human resources running, communication with CTO, etc.
  • Chief Technology Officer (CTO) — a team member competent in development and technology areas, UI/UX design, back-end, or QA team supervising
  • Chief Marketing Officer (CMO) — a specialist responsible for the clients’ perception of your service or product offered
  • Chief Sales Officer (CSO) — an expert running all activities connected with business development

The software development team composition should contain the following specialists as UI/UX designers, front-end and back-end developers, QA engineers, and others essential for the product’s appropriate development.

How to build a software development team — revealed! Check our recent guide to know more!

So, list and briefly characterize each key management person in your business. Try to tie their expertise to your company's current responsibilities, using the business plan template tech startup requires, or write this part on your own.

For instance, if your VP of Sales has previously worked for an organization that increased sales from $5 million to $10 million, it would be a wonderful addition to demonstrate their knowledge and value on the team. You'll also demonstrate to investors that you've assembled a strong team they can trust with their funds.

Management Team Gaps

This is common when a company lacks some management team members while developing a business plan. If it's your case, you should make a list of any absent personnel and the particular skills for future candidates, such as experience in the needed sector, duties, etc.

For example, if you want to find a CTO for a startup , you can say that the perfect candidate must have 10+ years of experience, top-class knowledge of modern technologies, and extensive skills to effectively manage the team and develop the product.

Board Members

The Board of Directors is a hired group of individuals that assist you in running your business properly. Even if a Board of Directors is uncommon for startups, you may spot one in the team structure and care about these gaps to be filled.

Supplementary Sections For Your Business Plan

If you need to provide stakeholders and other readers of your business plan with additional information about your startup company, you may give it in a supplementary appendix section to your business plan example tech startup needs (or one created by yourself). It isn’t essential; however, your possible investors may need some more data about you and your business (a credit history, for instance).

So, the appendix should be prepared beforehand to save time in the future. You can include in it:

  • Charts, tables, and other illustrations absent in the central parts
  • Trademark/patent documentation
  • Market researches in details
  • Credit history
  • Supportive papers (contracts, agreements, etc.)

You may also add here:

A production plan: it is your helper during production activity setting tasks that should be completed for aims achievement, every employee function in such a completion, and so on.

An operations plan: it may identify your startup’s primary business needs, such as equipment, requirements to inventory, office building, or location.

Preparing an appendix, care about its simplicity in reading and comfort in use. If it’s too long or contains too many documents to read, make a supplementary table of contents for more straightforward navigation of your plan readers. Disclosing confidential data, please monitor users having access to it and remind them about the necessity of maintaining confidentiality.

On top of that, the readers can skip the supplementary section as it’s the last part of your business plan; your prepared plan should be understandable and self-reliant. Otherwise, it will need reworking.

The Famous Startups Succeeded Due to Planning

A way to success and prosperity isn’t a bed of roses. World-famous companies began their way from startups one day, thoroughly planning every step on the road to fame. For you to inspire, we’ve prepared a shortlist of such startups’ success stories.

Samples of startups successful due to accurate planning

Samples of startups successful due to accurate planning

In the beginning, Pinterest was an invitation-only service. To go further on their development path, the company planned every business step, thinking about a proper UX for their product: Ben Silbermann even gave users his personal phone number to contact him about the site at any time of day or night. This perseverance paid off. Now Pinterest is a unique platform with $633 million revenue.

Canva is one of the leading graphic design platforms designers love to use for everything. This successful Australian business has raised over $US 1 billion of revenue. Due to proper scheduling policy and belief in workforce empowering, Canva CEO Melanie Perkins could make her company successful, having an audience of more than 10 million customers.

The well-known messenger allowing people to communicate worldwide was invented in a gym. When Jan Koum and his co-founder Brian Acton were annoyed with missing calls while at the gym, they created WhatsApp, which allows users to update their "status" to indicate when they are ready to accept calls. They only wanted to make a good product for customers, which approximately turned into more than $5.5 billion of revenue.

Netflix, which started its way as a rent-by-mail DVD service that required users to pay for each rental, is now worth more than $30 billion. It's a brilliant illustration of how pivoting a business model can significantly affect a company's direction. Netflix was able to further establish itself as the go-to media company by pivoting from DVD by mail to developing award-winning programming and gaining revenue of more than $US 7.5 billion .

Creating Your Own Business Plan

Strict planning of business steps was one of the essential things all the above companies had in common to grow and become more successful. We can personally propose a tech startup business plan template from Shopify that most nearly meets the points discussed above.

Shopify tech company business plan template

Shopify tech company business plan template

But remember that such a document will properly work if its critical blocks are created with the help of qualified experts. Cleveroad, a skilled IT consulting company and software solution provider from Ukraine, Eastern Europe, is ready to help you with initial project development phases and further ones. Since 2011, we've been assisting startups and organizations of all kinds in acquiring cutting-edge technologies.

During the collaboration with us, you’ll obtain a wide range of services, containing (but not limited to):

  • Proven in-depth software development experience in a variety of sectors
  • Working with high-qualified, certified, and agile-oriented Business Analysts, Solution Architects, and other tech specialists able to help you solve business issues
  • Consultations from our Business Analysts and tech experts about your project
  • Initial project estimates from our Sales Managers for free, with no hidden costs
  • Honesty with our clients and partners as a critical component of developing outstanding products

You can also apply to us if you have problems with business plan creation. We’ll help you solve them quickly and efficiently build a software product for your business.

Order a consultation on a project

Book a call, and our Business Analysts will give you a full understanding of your software solution

Wrapping Up

Developing an information technology startup business plan is a complicated and time-consuming process that practically every company should undertake. You can adapt pre-made templates, but no one-size-fits-all template will work for every company. That’s why you may make your job easier, applying to specialists competent in software development.

A business plan can help you organize your thoughts, ideas, and even find the right people to work with. Even though making a business plan (or completing a technology startup business plan example) is a long and complex process, almost every startup should go through it.

Your startup business must have these sections:

  • Executive summary. This section sums up the entire business plan and works as an introduction.
  • Company description. This part reveals history, goals, team structure, and other details about your company.
  • Marketing plan. A marketing plan is a representation of the startup’s competitive advantage and marketing goals.
  • Financial projections. In plain language, it’s a forecast of the future revenue and expenses of your startup.
  • Team structure. This section serves to familiarize investors with the hierarchy of your startup team.
  • Step 1. First of all find a flexible template to jot down your business plan.
  • Step 2. Write company description.
  • Step 3. Define your goals, make a market research and jot down it's results in marketing plan.
  • Step 4. Write financial plan.
  • Step 5. Write your management team structure.
  • Step 6. Sum previous section in executive summary.

Author avatar...

Evgeniy Altynpara is a CTO and member of the Forbes Councils’ community of tech professionals. He is an expert in software development and technological entrepreneurship and has 10+years of experience in digital transformation consulting in Healthcare, FinTech, Supply Chain and Logistics

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Thanks for the article! I'm an entrepreneur, and I've been stuck in this business plan stage. It's hard for newcomers to gather all their thoughts in one plan. But you've explained it perfectly!

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Good article. Found it interesting.

Nice piece of information. You've nailed its explanation. Besides, these templates that you've attached are really great. I think that they will suit perfectly for new startups.

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Writing a Business Plan for a Technology Startup and the Benefits for Your Company

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information technology startup business plan

Have a business idea but don’t know where to start? Consider creating a business plan first! An extensive and informative business plan allows you to understand your goals, opportunities, and threats, assess the market situation, and get a lot of insights to successfully launch your startup. Moreover, it can help you interest your investors.

Read our article to find out what a business plan is, what its benefits are, and how to create one. Let’s start with a definition.

What’s a business plan?

A business plan presents a detailed vision of your business idea. This document usually consists of 30 to 35 pages and several sections that cover vital topics for your business development such as goals, management, marketing, and funding.

A business plan is usually created before setting up a new business. It projects up to five years into the future to ensure you know where you’re headed at the beginning of your entrepreneurial journey. It’s advisable to revise this plan every month or two to check whether you’re sticking to your goals.

Benefits of creating a business plan

Although creating a business plan requires a lot of time and research, it’s sensible to make one before launching your startup. A business plan helps you realistically assess your opportunities and provides more benefits that we’ll describe below.

Detect weaknesses in your startup idea

When preparing a business plan, you should carry out a SWOT analysis to understand your chances of success.

To perform a SWOT analysis, you need to determine your business’s s trengths, weaknesses, opportunities, and threat s. Take into account that strengths and weaknesses are internal characteristics of your company that you can control, while opportunities and threats are external factors out of your control.

Once you’ve completed SWOT analysis, pay close attention to your weaknesses. By being aware of your soft spots, you can transform them into workable solutions to make your business successful.

  • Set goals and milestones

Setting goals is one of the core ideas behind creating a business plan, since by knowing your short- and long-term goals you can clearly understand where your business is heading.

Milestones allow you to track progress toward achieving your goals. Setting milestones is a strategic step that allows you to stick to your plan and not get distracted on your way.

Once you’ve listed your goals, you need to choose the path to achieve them. There are several options to choose from. For instance, you can map a long but predictable path with minimum risks and a short path full of challenges.

Let’s consider different options for launching your MVP as an example. You can choose a soft launch: a careful step-by-step presentation of your product to your target audience. When you use a soft launch approach, you reveal your product to a limited number of users, gather feedback from them, and fix bugs quickly. Thus, we can define a soft launch as a long yet predictable way to reach your goals.

A hard launch, on the other hand, is a short and risky path, since it means presenting a new product to a large number of people at once. It can bring you immediate revenue, but at the same time it can cause a lot of problems if your product isn’t perfect.

Once you’ve distinguished two different paths to reach your goals, which one to choose is up to you.

how to write a tech startup business plan

  • Make data-driven decisions

Preparing a business plan entails carrying out a lot of research. To make a realistic business plan, you should dive deep into marketing, finance, and management. You should also perform a comprehensive analysis of your direct and indirect competitors to get a full picture of the market situation.

By gathering information about other market players, you can learn about their strengths and weaknesses along with your own. This gives you a chance to better determine your company’s unique value proposition (UVP) and stand out from the competition.

With this information, your business plan is not merely a suggestion but a realistic view of your startup, the challenges you might face, and the ways you can overcome them.

  • Obtain an effective management tool

With a business plan in hand, it’s easier to manage your progress. Since a business plan includes a map with milestones, you can use it to keep track of how well you stick to and achieve your goals.

A business plan also helps you check whether you’re keeping within your budget and how profitable your business is. Plus, it allows you to monitor other financial aspects such as your employees’ incomes, pay raises, and your bonus system.

  • Get more information than with a Lean Canvas

Creating a Lean Canvas is a fast way to assess business opportunities. A Lean Canvas is a one-page document with 10 to 12 fields that gives a general overview of the current state of your business, your opportunities, and your goals. Although it’s a nice option for a quick assessment, a Lean Canvas is not very informative.

Here’s an example of how a Lean Canvas looks and what information it can present:

RubyGarage Lean Canvas

A business plan, in turn, is an extensive document that covers a long period of time (usually up to five years). Consequently, it requires a more comprehensive approach to business analysis than a Lean Canvas does and includes more detailed information about your business idea.

Use your plan as a pitch deck

Once you create your business plan, you can use it as the basis for your pitch deck. Just select the most important information and you’ll have a ready presentation for your investors, business partners, or whoever you want to interest in your business idea.

An informative pitch deck based on your business plan can lead investors to consider your business worth supporting.

How to create a technology startup business plan

Once you understand the benefits a business plan can give you, it’s time to move to developing one. Here are the must-have sections for your business plan.

#1 Executive summary

An executive summary presents your overall business plan. Its aim is to capture your readers’ attention and make them interested in reading through all the details.

This summary should be written in clear language and be understandable even for people who don’t have specific knowledge of your business area.

Do your best to outline the maximum relevant information within a five- to ten-minute read.

executive summary questions for technology startup

To make your executive summary informative and captivating, it’s best to write this section after you’ve finished all the other sections. Also, you should answer all these questions briefly in the summary since you’ll cover them in detail in the following sections.

#2 Business idea

This section is a detailed presentation of your product or service. You should include the following information:

  • Product/service description. Cover all the characteristics of your product, its uniqueness in the market, patent issues and compliance requirements (e.g. PCI DSS for payment systems, HIPAA for healthcare, or GDPR compliance), and a description of the development process.
  • Benefits for customers. Explain why your product is outstanding, how it reflects the needs of your target audience, and how it will solve your customers’ problems.
  • Pricing. Calculate how much it will cost to create your product and decide what monetization approach to choose (for instance, a subscription-based model or one-time payments). Make sure your revenue will cover your expenses.

business idea questions for tech startup

#3 Business sector and market analyses

In this section, you’ll present the results of your research that show how successfully you can penetrate the desired market.

First of all, analyze your preferred business sector. Pay attention to the current situation in the sector, predicted trends, sources of profit, and entry barriers.

Then, carry out market analysis including geographical, socio-demographic, socio-economic, and behavior-oriented segmentation of your potential customers. These criteria will help you better understand your target audience and attract more customers in the short term.

Finally, perform competition and location analyses. Competition analysis will help you determine your and your competitors’ strengths and weaknesses while location analysis will help you decide on the location for your company.

sector and market questions for tech startup

#4 Marketing strategy

This section demonstrates how you will build your marketing campaign. You already know your target audience, your competitors’ weaknesses, and the strengths of your product, so it’s time to sell it. At this stage, it’s important to decide if your marketing campaign will be extensive or targeted, what steps it will include, how many customers you need to attract to make your campaign successful, etc.

marketing strategy questions for tech startup

#5 Management 

In this section, you should provide information about the key roles inside your company and your legal situation.

When introducing your team, it’s important to mention roles and responsibilities and the qualities that make each person a valuable team member.

By legal situation, we mean the legal structure of your company and the legal framework that determines how your startup operates. You should state whether your business is a one-person startup or a partnership, for instance.

management section questions for tech startup business plan

#6 Opportunities and threats

This section describes external opportunities and challenges you can face when starting and expanding your business. To present this information as accurately as possible, you should create both positive and negative forecasts based on detailed research concerning your business sector, the current market situation, upcoming trends, your competitors, etc. Use the results of your SWOT analysis to provide information in this section.

opportunities and threats questions for tech startup

#7 Financial plan

You should prepare a financial plan for the first five years of your business activity. It should include:

  • Staff costs. This is the money you’ll spend on human resources at the beginning of your business and as it grows.
  • Investment and depreciation information. In this section of the financial plan, you should enumerate any kinds of material investments you plan to make (vehicles, furniture, PCs, etc.) and their predicted service life.
  • A profitability plan that includes your revenue and expenses. Make sure that planned revenue exceeds your expenses. There’s no point in starting a business that isn’t profitable.

financial plan questions for tech startup

#8 Funding opportunities

This section should list sources of investment and include the amount of money you need to start your business. You should also list investment options that you’re going to use. You can choose among local banks, venture capitalists, public funding schemes, business angels, and other options.

Once you decide how you’ll fund your business ‒ take out a loan or find investors ‒ include a repayment plan or mention the conditions of cooperation with your financiers.

funding questions in tech startup business plan

#9 Map for the future with milestones

In this section, you should describe the step-by-step implementation of your plan. It’s important to set priorities, divide the whole plan into small scopes of tasks, and set realistic deadlines. By doing this, you’ll get milestones that lead to your business success.

It can be a sensible idea to present milestones graphically so it’s easier for your readers to perceive the information and track your progress. 

map for the future questions

Final thoughts

With an elaborate business plan, you’ll have a clear understanding of your business opportunities and a chance to get into the desired market. Once you’ve created a comprehensive business plan, it’s time to create an MVP to attract your first customers.

What benefits does a business plan provide?

Writing a business plan is an important step before launching a startup. With a detailed business plan, you can:

  • Detect weaknesses in your startup
  • Have a starting point for creating a pitch deck

What sections should I include in a business plan?

There are nine main sections you should include in a business plan:

  • Executive summary
  • Business idea
  • Business sector and market analyses
  • Marketing strategy
  • Opportunities and threats
  • Financial plan
  • Funding opportunities
  • Map for the future with milestones

Is it necessary to create a business plan for my technology startup?

Writing a business plan isn’t obligatory, but you might want to do it since having a plan gives a lot of benefits. A business plan can help you understand your opportunities and threats, analyze the current market situation, learn more about your competitors, attract investors, and more. 

If you already have a business plan and need help creating your MVP, contact us for professional assistance .

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How to Make a Technology Startups Business Plan?

information technology startup business plan

Table of Contents

What is the technology startup business plan, do you need a business plan for your tech startup, things to consider before drafting a business plan, how to create a technology startup business plan.

  • Find the best Startup Business Plan Template

A technology startup business plan is a stepping stone that turns your ideas into a successful business. Unfortunately, many entrepreneurs and startups overlook the significance of business plans. If you are looking to start a technology startup with high earning potential, then creating a business plan is the way to go.

A well-written business plan enables you to look beyond boundaries, layout goals, track the progress (as you begin to grow) and gather all required resources from funding to equipment. And, when you choose to go without preparation and proper business plan, then you are paving the way to disappointment.

Technology startups business plan is a well-written document that describes your business and its objectives, strategies, and goal. The business plan also contains a target market with the roadmap showcasing how a company will achieve its million-dollar company goal.

Your business plan helps you work smarter, stay prepared for roadblocks, and stay motivated.

In short, a tech startup business plan lets your investors and bankers know what you want to do and how you plan to do it.

Our simple and straightforward answer is “YES.” But, let us add some different perspectives.

We write business plans to;

  • Authenticate ideas and articulate the vision for the business
  • Roadmap and solutions to solve the key challenges
  • Prepare a compelling pitch deck for investors

Now, if you can do without the above two of the three points, we think that you may not need to prepare a business plan —just a one-page business plan can be enough to put through your perspective. You can start with an investor pitch deck along with your business prototype. However, if you are not prepared with the first two points, you need a business plan.

Going without a business plan can put your entire business idea in jeopardy. In fact, the top five reasons why startups fail are;

  • No market need
  • Cash crunch
  • Outcompeted
  • Cost issues

The data is based on a survey conducted by CB Insights. The survey stated that 70% of tech startup companies fail, citing the top 20 reasons behind the failure. Let’s take a look at the image below;

why startup fail: infographic

However, another survey published on Entrepreneur stated that the key reasons why startups fail are;

  • Redirection of focus/Lack of focus
  • Loss of passion, commitment, and motivation
  • Overconfidence, resulting in an unwillingness to listen
  • Surrounded by the wrong company (people)
  • Mentorship issues
  • Lack of knowledge (in relevant field)
  • Sudden rise (Earning too much money too soon)

Professor Shikhar Ghosh, a senior lecturer at Harvard Business School, said, “failure is the norm.” He said very few companies, especially startups, successfully achieve what they project.

According to Ghosh, the prime reason why startups fail is that investors and startups do not heed to “look before they leap.” Even if they have a plan, they just move ahead without realizing that the project’s base assumption could be wrong. He firmly believes that startups should create the future with their customers, not predict the future.

Know more: I Have an Idea for an App, What’s Next?

Are you all set to create a technology startup business plan? Wait. You have something crucial to do before you move to the planning part. Let’s ask some of the fundamental questions yourself. Such as;

  • What do you want to do?
  • How will you do it?
  • When will you do it?
  • Who will do it?

These questions will help you get some ideas to create an effective business plan for your technology startup and turn your ideas into executable action. At the same time, when you plan your business, it will help you narrow down the gap between where you are and where you want to reach —your ultimate goal.

Know More: eSchool Management System

Now that you understand what a technology startup business plan is and why we need to create it, it is time to know how a business plan is created and its principal elements.

Executive Summary

An executive summary is the most critical element of a startup business plan. The summary creates the first impression, and if it is not captivating, then your entire business plan is a waste of time and resources.

It must let readers (readers can be your investors, partners, bankers, and employees) know what you want. In the executive summary, state what you are asking. Keep your statement precise, businesslike, and comprehensive with a clear goal. It should not be more than half a page.

But, do not make it a rule.

It (the executive summary) could be longer if it involves complex use of funds; it should still not be more than one page. Provide a synopsis of your tech startups business within the space. The key elements of the executive summary should be;

  • Concept of your business
  • Highlight financial features
  • State financial requirements
  • Provide relevant information
  • Include achievements

Company Summary

Company summary begins with the short but precise detail of the industry, which lets investors and other key partners know the current outlook and future possibilities. The company summary is seen as an elevator pitch that captures the imagination of investors and bankers.

It should be a detailed description of your company with a captivating title. For example, the title must include the summary of your company, and that should consist of;

“….IS A….WHO SELLS…. TO….WHO NEED….BUT DON’T GET IT FROM…. .”

Read more about: The Future of mCommerce

For example;

“Your company name” is a “mention the type of business” who sells “name products/services/solutions” to “customer type & location” who need “name the problems that you wish to solve” but don’t get it from “your competitors.”

When you keep this example in mind, you can correctly create a summary of your business that narrates what your company is about and what problems your company will solve. Write your strengths that will enable you to serve your customers and clinch business success. Mention if you have an expert in your team, or is there something else that will drive success?

Market Strategies/Market Analysis

Having a great business idea and running a successful business are two different stories. Your idea may be dear to you but may not be apparent to others. It may not grab the attention of others as much as it holds yours.

But how would you know whether your idea is good or not? The answer is “through market research and analysis.” Even if you know the industry, you need to know all aspects of it. Being an entrepreneur or startup, you need to know your target market; it’s essential.

Research your market: Know your audience, explore competitors, and know what makes them successful. Market research will help you create your market strategies for your technology startup. When your target market is defined, you can position your company, set pricing, and know potential growth hack. Competitor analysis is an important task that lets you know your competitors’ strengths and weaknesses within your market niche.

Show product research: There’s a need to precisely describe how you conducted your research. You can include face-to-face conversations with potential customers, asking problems they have. Make sure the answers are not ushered; they must be honest responses and how they want solutions.

The more you know, the better prepared you are: When you know your competitors’ strengths and weaknesses, you get distinct advantages. For example, you will come up with well-defined strategies, like develop a barrier to prevent competition and exploit weaknesses within the product development cycle.

Description of Products/Services

Describe what you offer and how it will serve the needs of your target market. Begin with what people need and how your product will serve that need. It will be easy for you to prove that people will pay for your product.

Describe the products’ lifecycle and how it will persuade customers to buy it for money. If your business is about service, then describe why your target market will subscribe to your services. Jot down the plans for your intellectual property, be it copyright, patent files, or anything alike. Showcase research and development if you are doing anything, such as building any website, exploring any business software’s potentials, or making any web or mobile app business plan.

Management & Operational Structure

No doubt, the business idea you have is solely yours, but you need people to make it a successful business. Who are those people with what role? That you have to mention in your tech startup business plan, showcasing your team’s strength and experiences in the particular field. It will help investors and bankers decide if your business idea is achievable or not.

A team usually consists of several experts with different skill sets, having an excellent inter-connection. For example, if you have a development team, it will include developers, designers, testers, project managers, etc. Describe each one of your team member’s merits and how they will add value to your proposed business plan.

Precisely show the organizational structure of your venture. Initially, you can showcase your key partners and staff (if you have) in the chart. It will be better to showcase your organizational structure using graphics to help investors and bankers understand the distribution of power and command chain.

Take a look at an example of an organizational structure graph. You can create something like that;

operational structure

Showcasing the hierarchy will end the debate on whether who will do what and with what accountability.

Marketing and Sales plan

Unless you come up with well-researched marketing strategies and sales plan, you cannot assure your investors and bankers of your tech startup success. What are your marketing strategies? Answer this question precisely. Clearly state your marketing plan in this section. The strategy should clearly show how you plan to attract and retain customers.

Mention the marketing channels you plan to promote your product and woo customers. What are your strategies for specific marketing channels, and how will it benefit your technology startup?

Avoid showing one-way to approach a marketing strategy as there is no such way. Evolving marketing strategies will fit into the rising needs of your target market. Your marketing strategies should also have key points regarding conversion strategies.

Funding Request

Take time while writing this section, as this section is going to be very important. Spell out the investment required for the particular business over the next five years.

How much funding you need to run your tech startup business. In one para, you can also state how you will use those funding.

You can also specify if you need debt funding or equity for your technology startup, though you need to mention your plan on how you pay off the debts.

Financial Projections

Financial projection refers to the estimate of future economic outcomes for your tech startup. It is the most critical part to convince your angel investors and lenders. And hence, it should be convincing enough to show the stability of your business. It will help investors understand if the money they invest will be paid off.

If your technology startup business is already functional, then attach balance sheets, income statements, cash flow statements, or anything in this regard. These documents will help you convince the lenders.

Besides, you can attach business forecasts, the data which you have gathered during market research. Show future financial outlook in monthly and quarterly financial projections. With the help of graphs and charts, make the financial projections easy and comprehensive.

Last but not the least, this section of your tech startup business plan should include all additional documents that you want to add to support your idea. The records and documents you add here will give a feel for your products, services, marketing, and more.

The documents like credit histories, CVs (of your staff/employees), business documents, research reports (Market analysis, strategies, etc.), products’ photos, permits, licenses, and others can increase the integrity of your business plan.

These top elements can add to make a perfect business plan, though more components can be added based on your business requirement.

See More: Best 14 On-Demand Startup Ideas

Find the best Technology Startup Business Plan Template

Creating a business plan for a technology startup from scratch is not easy; you need to go through some examples, templates, and samples to make it easy. You can find these resources from many websites to build the best plan for your business. We rounded up some of the top websites to get business plan ideas from while also explaining the one which we found it resourceful. Let’s explore;

Business Plan Template by Score

Startup business plan template by Score

Even though you can download plenty of business plan templates from various free and paid resources, finding the right one will help you save your time and finish your plan in time. Most of the business plans for the startup we went through were outstanding but paid, however, we found a template by Score which is free and effective. it appears to be good for most tech startup business plans.

Score is an American based nonprofit website which is dedicated to support startups and entrepreneurs kickstart their businesses and achieve success. The template by score is available in PDF and Word doc format. You will find a whopping 150 generic questions to customize for most types of businesses, be it a plan for your tech startup or others. You can choose plenty of others from the resources given below.

Website Name

  • Bussinessplanpro.com
  • Mynewoffice.com
  • kaufmanschedule.com
  • businessplanexamples.net
  • business-plan-examples.com
  • ovucscanexel.tk
  • Wheretogetanessay.club
  • allusionexamples.com
  • financemart.net
  • hoodcleaningschool.com

Final Thoughts

We understand that creating a business plan is not easy. It is going to be a complex and arduous task to do. But, when you begin by breaking it down into steps, it will be easy for you to make the best tech startup business plan. If you still find it difficult to draft, we can help you keep the hassle out.

Our team of experts will guide you the best way to draft your business plan. At the same time, we are also a tech savvy company, offering a wide range of web and mobile applications for startups and entrepreneurs around the world. We also offer mobile app development services for startups, which we can deliver in the next 48 hours. Our products can help you streamline your business and start earning as early as possible. Let’s connect for further details.

Mayur Panchal

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  • https://inoxoft.com/blog/7-steps-of-how-to-write-a-technology-startup-business-plan/ Steps of How to Write a Technology Startup Business Plan

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Inoxoft Blog

Steps of How to Write a Technology Startup Business Plan

Nazar Kvartalnyi

If you decided to launch a startup, don’t forget to write its tech startup business plan first. Business planning is essential and crucial for a newly-created business concept. Having a preplanned strategy allows you to allocate and eliminate possible risks and get ahead of your competitors. Risks trigger other important factors such as time and budget resources. And, if you are just getting on the market, these resources might make you fall behind significantly.

According to Excellentbusinessplans.com , businesses have more than a 30% chance of growth due to writing a software startup business plan. So, this article will speak about how to create a startup business plan of great use to entrepreneurs. Build your tech startup as a pleasant journey with the exact 7 steps of business planning that will allow you to win the competition.

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Why do Startups Need a Software Startup Business Plan?

Providing great clarity, increased probability of success, higher probability of receiving an investment, 8 steps on how to make a tech startup business plan, tip #1. start with a company description.

  • Tip #2. Proceed with a tech startup business model
  • Tip #3. State how are you going to get noticed on the market
  • Tip #4. Consider the financial aspect of your business
  • Tip #5. Think about your future business team
  • Tip #6. Write an executive summary of your business plan
  • Tip #7. Add anything you might consider valuable (appendix)

Tip #8. Prepare a Great Pitch Deck for Prospective Investors

5 tech company business plan templates, business plan infographic powerpoint, emaze business planning with analytics, lean canvas 1-page business plan, startup pitch, consider inoxoft your trusted partner, final thoughts.

What is a technology startup business plan?

A tech business plan is a document that includes a detailed description of the startup’s objectives and the road to achieving goals. Usually, it’s a defined roadmap of marketing, financial, and operational procedures. – Investopedia

So, the need to write an IT startup business plan lies in the fact that any business can have a fully-described insight into its future operations.

For example, a tech startup business plan template has to include the following data:

  • an executive summary, which is the mission statement, and information about the leadership, startup employees, and its location;
  • products/services offered, where everything a business wants to do should be enlisted. I.e. a startup wants to create AI technologies, so it mentions what type of technologies, their cost, lifespan, and potential benefits to the end-users. And, also, research and development information about the product/services is always welcome;
  • particular market analysis, where businesses can analyze the potential need of their product/service as well as the direct competition. This information will allow us to build a startup based on innovation, and strengths and eliminate weaknesses if possible;
  • a marketing strategy, which can inform on the potential ways the business will use to attract end-users and how the company will reach them. Perhaps, advertising or marketing campaigns are needed? Social media to speak about the product/service? Any channel that will help more customers get engaged will do, but you still have to define it first;
  • financial planning, which is composed of the potential targets and estimates for a couple of years ahead. With financial plans, you can attract the much-needed investors and prove to them your startup is going to make it with the concrete yearly estimations;
  • a budget, where you should mention the costs to develop and design software, staffing, marketing campaigns, office, and extra spending. Having defined what you need costs for allows you to operate these costs in a more efficient way;
  • a team that will work for you, share your goals and ideas, and lead your startup to success.

Steps of How to Write a Technology Startup Business Plan

A startup tech company business plan pushes you to articulate your business objectives and goals in down-to-earth terms. Instead of vague aspirations like “grow the business” or “increase revenue,” you define specific and measurable targets like “increase website traffic by 30% in the first quarter” or “achieve $100,000 in sales within the first year”

This clarity allows you to track your progress objectively. You can compare your actual results to the goals outlined in the business plan, enabling you to see whether you’re on track or need some adjustments.

A well-structured business plan helps you stay focused on your objectives and minimizes the likelihood of drifting off course. By identifying potential challenges and threats to your startup, you can develop proactive strategies to mitigate them.

A business plan helps you allocate your resources — financial, human, and time — more efficiently. Outline your budget, staffing needs, and project timelines to ensure that you have the necessary resources to execute your strategies effectively. With market research and analysis, you can make informed decisions, tailor your products or services to meet market demand and stay ahead of your competitors.

If you’re seeking external funding, a well-prepared business plan can attract potential investors. It gives them a clear and detailed understanding of your business, including your market strategy, competitive analysis, and risk mitigation strategies. By addressing these risks proactively, you show investors that you know the potential pitfalls and have a plan to navigate them.

And, of course, investors are keenly interested in the financial prospects of a startup. Your business plan includes financial projections, which help potential partners assess the possible return on their investment.

Writing a business plan for a tech startup isn’t a one-day process. It is a commitment you should engage in at least for some time. But where should you start? There are the following sections to think about: technical plan, executive plan, marketing plan, financial plan, staffing plan, etc. But, we’re here to help you out with the technology startup business plan template.

The company description will surely include the company history, its location, type of business (industry, sector) it provides. Also, it will mention the leadership team, employees and management team, and company missions and principles.

What would this kind of information technology startup business plan detail do for your business? It’s easy. Anyone interested in your startup will achieve a complete understanding of who you are and what are you going to offer to the end-users. In the other words, you have to have a unique identity that is both informative and catchy.

Steps of How to Write a Technology Startup Business Plan

Everything you need to know about digital product development phases !

Launching your startup you have probably had the thought of where it might lead you. But, this thought has to be put on the official paper as well. You need to define your business’ scaling strategy and business opportunities. So, mention how are you planning to grow and what should be the numbers. Include financial aspects, employees, technologies, and, basically, everything, that will be enhanced and should be doubled in the process.

The only way you can let everyone know about your business is to lead the right marketing campaign. Here, you should analyze your target audience, conduct surveys, analyze competitors, and create a user persona. On analyzing competitors use the SWOT model . In creating your potential buyer persona, make sure you have included all the valuable information.

Steps of How to Write a Technology Startup Business Plan

Financially, it is vital to know beforehand what costs you will need to invest and what revenue you will achieve. So, while creating a business plan for a startup, the section with money requires additional effort. Here, you might need to include: a balance sheet, expense projection, income projection, cash flow projection, monetization strategy, other pricing, and a business sales plan.

What has to be done in the first place? Financial planning should ground in business planning. It should be a clear and realistic presentation. And, most importantly, use templates to make this process a bit easier for you.

Guidelines for Creating a Financial Plan

  • Develop a sales forecast, considering market size, growth rates, pricing, and competition.
  • List all the initial costs, including equipment, legal fees, marketing expenses, and working capital.
  • Determine how much funding your startup needs to cover initial costs and sustain operations until it becomes profitable.
  • Conduct a break-even analysis to determine the point at which your startup’s total revenue equals its total expenses, resulting in no profit or loss.
  • Calculate gross margin, net profit margin, return on investment (ROI), and return on equity (ROE).

The leadership team is partners that should consist of the CEO – Chief Executive Officer, who will be responsible for the main processes in the company. Then, the startup should have a CTO – Chief Technology Officer, who is responsible for research and implementation, and the technological part. Also, there is a need for CMO – the Chief marketing officer, who is the one to involve potential customers and make them pleased with the product/service. Last but not least is the CSM – Chief Sales Officer, who closes the deals with potential clients and sells your product/service.

Need a skilled CTO? How to find a CTO for your startup? – click and have a look!

Among the leaders, you should think about the management team – project managers, developers, designers, testers, and other employees per your business need. Scalability is a must if you opt to grow further.

Inoxoft offers some tips on how to hire developers for startup !

Executive summary of a business plan for a software startup should be written last as it will summarise everything that you have defined and described before. It is of a certain structure, which makes it easier to read. With its help, you will catch the much-needed attention of a reader, and show him/her the real fact and the exit strategy. Avoid unnecessary wording and passionate over-positive thinking here. Be realistic, and show you can provide reasoning and decision-making. Be innovative.

The appendix section usually includes every additional fact or infographic that was mentioned in the business plan for a tech startup. So, these might be charts, tables, illustrations, patents, trademark documents, credit history, additional documents, market analysis, production plans, and operations planning. All the features your stakeholders might be interested in.

A well-structured pitch deck typically includes the following sections:

  • A brief overview of your startup and its mission
  • The problem or pain point that your product or service addresses
  • Your innovative solution and how it effectively addresses the identified problem
  • The market size, growth potential, and target customer segments
  • Your pricing strategies, sales channels, and distribution models
  • The key members of your team and their relevant experience 
  • Your financial projections, including revenue, expenses, and profitability 
  • The amount of funding you seek and how you intend to use it
  • Your exit strategy

Pitch Deck Do’s

  • Craft a compelling narrative that captures the essence of your business and its potential.
  • Employ visuals like charts, graphs, and images to illustrate key points and make the presentation engaging.
  • Use bullet points, brief sentences, and compelling storytelling to convey your message effectively.
  • Customize your pitch deck for different investor meetings.
  • Practice delivering your pitch multiple times to ensure you can present it confidently and within the time limit.

Pitch Deck Don’ts

  • Don’t overwhelm your pitch deck with excessive data or information. 
  • Don’t use jargon or overly technical language that might confuse investors who are not experts in your field.
  • Don’t ignore potential challenges or risks. Address them honestly and discuss your strategies for mitigating them.
  • Don’t forget to emphasize the market opportunity. Investors want to know there’s a sizable and growing market for your offering.
  • Don’t dismiss feedback from mentors or advisors. Use their input to improve your pitch deck.

A well-designed presentation makes a positive impression on your prospective investors. But don’t spend too much time creating it from scratch. With professional templates, you can use a pre-designed structure and focus on adding content while adhering to a consistent format.

Many templates are readily available for free or at a low cost. Let’s overview the most promising ones:

With the PowerBiz PowerPoint template, you can showcase your ideas using visually engaging infographics. Key features:

  • 200+ unique custom slides
  • Fully editable with resizable vector
  • Easy to change colors and text
  • Bright and dark theme versions
  • Super custom animated effects

Pricing: $7.40/mo for unlimited downloads, $21 for a personal license (one non-commercial product), and $63 for a commercial license.

Emaze has many creative tools for teams to collaborate and make unique presentations from ready-made templates. Key features:

  • 2D & 3D solutions
  • Eye-catching animations
  • Mobile-friendly creation
  • Customizable blueprints
  • Analytics tools
  • Multiple sharing options
  • Industry-specific solution

Pricing: Free Basic plan for 5 projects, $9/mo for Pro plan, $25/mo for Business plan, etc

Lean Canvas is a valuable tool for entrepreneurs and startups to quickly sketch out, validate, and iterate on their business ideas in a structured and efficient manner. Key features:

  • A 1-page business model 
  • It takes 20 minutes to create
  • Quickly updates

Pricing: $0 for a founding team of up to five people working on the same project.

StartUp Pitch has everything you need for a standard business plan tech startup, like SWOT analysis, competitor evaluation, and project schedules—all pre-prepared for you.

  • Full financial forecast
  • Easy pitch/plan export
  • One-page pitch builder
  • 550+ sample plans
  • Support by email and chat
  • A 35-day money-back guarantee

Pricing: $20 per month for the Standard plan and $40 per month for the Premium plan, with $20 for the first month.

Inoxoft is an international software service provider with more than 7 years on the market. We help startups achieve excellence with their products/services and succeed. Explore our software development for startup services and benefit from the quality end results!

Inoxoft finds business planning for tech startups one of the most needed steps in setting the right priorities. We engage in writing a startup business plan and may give valuable insights as to your solutions.

If you still don’t know how to make a tech startup business plan or need a consultation on your startup project idea – book a call with us and receive a free consultation!

Find out what’s KPI in software engineering !

This article has summarized how to make a business plan for a startup. If you are just launching and think that planning ahead is something you should skip – that’s wrong. Consider 7 tips provided by Inoxoft and become a profitable unicorn one day!

Need dedicated team?

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Frequently Asked Questions

What is a software startup business plan.

A tech business plan is a document that includes a detailed description of the startup’s objectives and the road to achieving goals.

What to include in the business plan for tech startup?

  • an executive summary 
  • products/services offered
  • particular market analysis
  • a marketing strategy
  • financial planning

What are the tips for writing a startup business plan?

  • Tip #1. Start with company description

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If you have any questions, feel free to contact us.

How to Write a Tech Startup Business Plan to Win Investors

Tomasz Bąk

You have a great business idea. Now you’re doing the hard part: raising capital.

With a failure rate of 63% in the tech startup industry, you need to have a highly compelling business idea and go-to-market strategy to win over investors.

We’re going to make writing a startup business plan really simple by providing you with a step-by-step guide along with a business plan template you can use to build startup business plan that wins investors.

What is a tech startup business plan?

Why do you need a technology startup business plan.

  • 1. Executive summary
  • 2. Market opportunity
  • 3. Product or service overview
  • 4. Marketing and sales strategy
  • 5. Team and management structure
  • 6. Key milestones
  • 7. Financial plan

Sample tech startup business plan [template]

A technology startup business plan is a document that is used to outline the goals, strategies, and objectives of a new tech startup business. This document is often used to secure funding from investors and to help the business leaders form a unified sense of identity and purpose.

The business plan should include information on the products or services offered by the startup, the market opportunity, the business model, the team, the financial projections, and the risks and challenges associated with the business. A tech startup’s business plan should generally address three major areas of the business:

What Is A Tech Startup Business Plan

As a startup moves through various stages of growth, the business plan should be updated with new information and forward-looking goals. In this way it can serve as a “source of truth” for all of the startup’s stakeholders.

A business plan is an essential tool for any tech startup. It provides a road map for your business, helping you to define and communicate the company’s vision, goals, and strategies. Having a singular document that acts as a single source of truth for the business will help to keep the startup’s core leadership team unified and provides guidance on how to navigate the often-complex world of starting and growing a business.

You can utilize your startup business plan to secure funding and partnerships. A well-crafted business plan can also help you attract and retain top talent.

In summary, you need a technology startup business plan to:

  • Unify the startup’s leadership team
  • Secure funding and partnerships
  • Attract top talent
  • Act as a guide for navigating starting a business

This article will act as a guide for writing a business plan for tech startup founders.

7 key components of tech startup business plan

You know you need a business plan for your tech startup. You know generally what should be included. But, now you need to actually get to writing. We’re going to try to make this as easy as possible by outlining the 7 key components your technology startup business plan should have.

If you’re looking for a real shortcut, make sure you download our easy tech startup business plan template. Included in it you’ll find a sample business plan and an outline of what we’ll cover below.

Stick with me if you’re looking for a more detailed explanation of each of the 7 components.

How To Write A Tech Startup Business Plan

  • Executive summary

First up is an executive summary. This brief section should provide some context to readers as they begin to read your business plan. It’s your opportunity to share, at a high level, your business idea.

At a minimum, this section should outline what your business is, the general market you target or industry you are in, and what your products or services are. Optionally, you can include some information about your business’s history, bios of key members of your leadership team, competitive advantages, key customer benefits, and your company’s goals. How detailed you get with this section is up to you. Use this as an opportunity to provide an overview before you get into more detail in the other sections of your business plan.

  • Market opportunity

This is where you will start to go into more detail about your business. Starting with the market opportunity allows you to paint the picture of the why _behind your tech startup before you go into the _what . Ultimately, you can only sell the feasibility of your business by backing it up data on who your potential customers will be. This section will help to inform the marketing strategy and sales plan later in the startup business plan document.

Take the time in this section to walk through the research you have done on your audience. To start, you should have data points on the following:

  • Demographic data for your target market (age, gender, income, occupation, location)
  • Main pain points of your target market
  • Values and interests of your target market
  • Needs and wants of your target market

Target Audience

It can also be compelling to provide some information on how your products or services will stand out from the competition. Consider answering the following questions in this section:

  • Who are your main competitors?
  • How will your products or services meet the market’s needs better than the competitors?
  • Will your products or services be able to reach a currently unreached audience?
  • How will you differentiate yourself from the competition within your target market?

All of this data should back up what the real market opportunity is for your business. Make sure this market opportunity is realistic and achievable. This should lead well into our next section which will cover in more detail the products or services your tech startup will offer to the market.

  • Product or service overview

After you have outlined the market opportunity your business will take advantage of, it’s time to provide more details on the exact products or services that you will offer to your market.

Each product or service you include in this section should have a corresponding functional and technical description. The functional description should aim to outline to a layperson what the product or service is, what it does, and how it will be used. The technical description should outline the technologies each product or service utilizes or what technology has been developed specifically for the new business. It’s appropriate to go into detail here to give potential investors more confidence in your product or service.

It’s also important to include information on how the products or services will ultimately benefit customers and what problem they will solve for customers. If you have more than one product or service, make sure to outline this information for each one.

  • Marketing and sales strategy

The marketing and sales strategy section of a technology startup business plan should include a description of the target market, the company's marketing and sales objectives, the strategies and tactics that will be used to reach these objectives, the key marketing and sales metrics that will be used to measure progress, and the budget for marketing and sales activities. In short, it should outline your business’s marketing and sales plan.

Marketing And Sales Strategy

Starting with the objectives, you should outline specifically what you are trying to achieve with your marketing and sales efforts both in the short term (likely for launch) and long term. Each of your objectives should align with your overarching business goals and make sense for the market you outlined earlier in your business plan. Be realistic here. It’s better to estimate low and over deliver than to overestimate your success.

As you outline the strategies and tactics you will use to achieve your objectives, consider both the what _and the who_:

  • (What) What tactics will you employ to achieve your goals?
  • (What) What marketing tools do you need to achieve your goals?
  • (What) What marketing channels will you use?
  • (Who) Will the marketing work be done internally?
  • (Who) Will you hire freelancers or a CMO to help implement the work at hand?
  • (Who) Will you need a sales team right away?
  • (Who) How will marketing and sales work together to achieve your goals?

Your marketing and sales strategy should be backed up by the market opportunity information you provided earlier. The strategies and tactics should be aiming to reach your target market.

Next, outline the metrics that will be used to measure marketing and sales progress. You should include specifically when these metrics will be measured and who will be held accountable for them.

Finally, include a marketing and sales budget in this section. The budget should be broken down by channel and tactic, so that dollars can be accurately tracked and attributed to results.

  • Team and management structure

Up next is the team and management structure part of the business plan. To start, provide an overview of the startup’s organizational and management structure. Providing a graphical representation of the reporting structure can be helpful.

This can then lead into an overview of who owns or manages each of the key sectors of the business (CEO, CTO, CMO, etc.). It’s a good practice to provide a bio of each of the members of the leadership team, including their education, work history, and relevant expertise. Along with their bio, provide a description of their role and responsibilities within the organization.

Team And Management Structure

After you have covered the leadership team, outline the other team members along with their roles and responsibilities. Following this, include some commentary on the team’s strengths and weaknesses as well as what gaps remain within the organization. If additional staffing is required, provide a hiring plan that includes a description of the role, salary, and strategy for recruitment.

End this section with an overview of the organization’s values. Paint a picture of what it’s really like to work for your company and how you build a sense of ownership and responsibility within the team. Highlight how you intend for the team to work together to accomplish the company’s goals.

  • Key milestones

At this point in the business plan you have outlined the target market, products and services you will offer as well as the members of your team that will bring the company’s vision to life. In this section you’ll provide a timeline of the past and future milestones for your business. This will help to illustrate your startup’s growth path and how you intend to move forward.

Some key milestones to consider when writing this section:

  • When business was founded.
  • When the business was/will be launched publicly.
  • When the business was/will be profitable.
  • When the business reached/will reach funding milestones.
  • When development project milestones were/will be reached.
  • When marketing milestones were/will be reached.
  • When key staff were/will be hired.
  • Future product release dates.

You might consider showcasing this information in the form of a graphic like this:

Key Milestones

In addition to a company timeline, we recommend you include additional data in this section such as:

  • Current number of employees and the number of employees projected in the future.
  • The amount of revenue generated in the past and projected for the future
  • Key clients or contracts that have been signed or that are in the works.

This section should clearly demonstrate your startup’s ability to grow from an idea into a business. Providing concrete dates and real data in this section will provide some validity to your startup and showcase what you’re able to accomplish.

  • Financial plan

The final section of your technology startup business plan should be a financial plan. This is the section of the business plan that outlines how the business has been funded to date and how it will be financed moving forward.

There is no one way to write the financial plan section of a business plan, as the amount and type of information that needs to be included will vary depending on the business and the specific financial goals of the plan.

However, there are some basic elements that should be included in most financial plans. These include a pro forma income statement, balance sheet, sales forecast, and cash flow statement. The pro forma financial statements should be based on historical financial data, if available, and should include assumptions about future revenue and expenses. The financial plan should also include a discussion of the company's capital structure, including its debt and equity financing.

If you’re at a very early stage with your startup and seeking a modest amount of funding, it’s probably sufficient to air on the side of brevity. If you’re seeking series A, B, or C funding, you’ll likely need a very comprehensive financial summary along with a detailed plan on how the funding will be utilized to grow the business. Seek counsel from a business accountant if you’re unsure of how to provide adequate financial documentation.

We have walked through the 7 key elements of any tech startup business plan. Now we’re going to share a sample business plan template to help you get started with writing your own!

Innovation is critical to success in the software industry. The executive team of this startup believes they have the next big thing. They have developed a new software application that helps businesses manage their social media accounts more effectively. The software provides insights on when to post, what to post, and how to engage with customers. The software also allows businesses to track their social media analytics and see the return on investment for their social media campaigns.

The executive team has extensive experience in the software industry and believes this new product has the potential to be a game-changer for businesses. The team is seeking $1 million in seed funding to help with product development, marketing, and sales. The company plans to generate revenue through monthly subscription fees and by selling data analytics services to businesses.

The social media management software market is expected to grow from $9.3 billion in 2020 to $17.4 billion by 2025, at a compound annual growth rate (CAGR) of 13.2%. This growth is being driven by the increasing use of social media by businesses of all sizes and the need to effectively manage social media accounts to drive brand awareness and customer engagement.

The software application developed by the startup helps businesses manage their social media accounts more effectively. The software provides insights on when to post, what to post, and how to engage with customers. The software also allows businesses to track their social media analytics and see the return on investment for their social media campaigns.

The software is available on a monthly subscription basis and businesses can also purchase data analytics services to help them further understand their social media campaigns.

The company plans to generate awareness for the software through online and offline marketing campaigns. The team will target small businesses and medium businesses that are active on social media but do not have the resources to effectively manage their accounts.

The company will use a mix of paid and organic marketing to reach its target audience. For paid marketing, the company will use Google AdWords and Facebook Ads. For organic marketing, the company will use content marketing and social media outreach.

The company plans to sell the software on a monthly subscription basis. The team will offer a free trial to businesses to get them started with the software. Once the free trial expires, businesses will be charged a monthly subscription fee.

The executive team of the startup consists of experienced software professionals. The team has a proven track record of developing and marketing successful software products.

The company plans to hire a sales and marketing team to help generate awareness and drive sales of the software. The team will be based in the United States and will consist of sales and marketing professionals with experience in the software industry.

The company plans to achieve the following milestones over the next 12 months:

  • Launch the software application
  • Generate 500 paying customers
  • Achieve $1 million in annual revenue

The company is seeking $1 million in seed funding to help with product development, marketing, and sales. The company plans to generate revenue through monthly subscription fees and by selling data analytics services to businesses.

The company projects the following financials for the next 12 months:

  • Revenue: $1 million
  • Expenses: $500,000
  • Profit: $500,000

As a startup founder you know that having a software startup business plan on hand is critical to win over investors and get your business funded. However, no one wants to spend days writing a complicated it startup business plan. It’s much more important to focus on the day-to-day operation associated with building your tech startup.

To help save you time (but still create a winning startup business plan), we’ve outlined the 7 key components of any tech startup business plan:

As you tackle writing your own, make sure you refer back to this guide along with our template to ensure you’re writing a compelling business plan that is sure to win over investors!

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Information Technology Business Plan

Start your own information technology business plan

Information Management Hawaii

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

By focusing on its strengths, its key customers, and the underlying values they need, Information Management Hawai’i, Inc. (IMH) will increase sales steadily in its first three years, while also maintaining the gross margin on sales, with a focus on cash management and working capital.

This business plan leads the way. It renews our vision and strategic focus: adding value to our target market segments, and reinforcing our ties with businesses in our local markets. It also provides the step-by-step plan for improving our sales, gross margin, and profitability.

This plan includes this summary, chapters on the company, products and services, market focus, action plans and forecasts, management team, and the financial plan.

Information technology business plan, executive summary chart image

1.1 Objectives

1. Achieve healthy earnings (EBIT) in the first year of operation.

2. Maintain a midrange gross margin throughout the entire operation.

3. Maintain just-in-time (JIT) inventory levels, or 11 turns per year.

4. Increase sales modestly but steadily in the second and third years.

1.2 Mission

To provide the Hawai’i business community with quality brand-name Information Technology business information solutions, reliable and professional Technical Support, and unparalleled Customer Service through the application of the principles of Kina`ole and heartfelt aloha, and to earn a fair profit for our employee-owners and stakeholders by embracing sound, ethical business practices.

1.3 Keys to Success

The keys to our success are:

  • Customer Satisfaction Goals vs. Results

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Company summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">.

Information Management Hawai’i, Inc., will sell and service digital office information systems for Hawai’i’s businesses, with a focus on the Neighbor Island business community. IMH will be formed as the result of the acquisition of three existing businesses: Maui Office Machines, Inc.; Electronics Hawai’i, Inc.; and, Kauai Office Equipment, Inc.

2.1 Company Ownership

IMH will be privately-held [C corporation] owned in majority by the IMH Employee Stock Ownership Trust. There are currently 15 employees, and all will own equal shares in the ESOT. New employees will be given the opportunity to become vested in the Employee Stock Ownership Plan (ESOP) after a suitable probationary period.

2.2 Start-up Summary

Our start-up costs will be $1M, which includes $450,000 for the acquisition of the Maui and Hilo operations of Servco Integrated Office Technology.

The remainder of the funds will be used for:

  • Legal, Insurance, Rent & Misc: $125,000

The start-up funding will be financed by loans arranged through the Small Business Development Center, and by the Hawai’i Community Loan Fund, and the Small Business Administration as a guarantor. Start-up assumptions are shown in the following table and chart.

Information technology business plan, company summary chart image

2.3 Company Locations and Facilities

We have two locations, one in Kahului, Maui and the other in Hilo, Hawai’i. The two offices are presently being leased by Servco Pacific, Inc., and we will rent from them on a month-to-month basis until we are able to relocate to more suitable facilities. On Kauai, we have a sub-contractor agreement with Kauai Office Equipment to handle installations and service.

Products and Services

IMH will acquire an existing operation whose primary business has been the sale and service of business appliances (copiers, facsimiles, printers, etc.) and has operated as a part of the office equipment industry. We will build from this base to transform the business into a value-added provider of the emerging services and technologies of the new Information Industry. Following the lead of Canon, USA and other manufacturers which we represent, we will approach the marketplace from a total systems solutions viewpoint.

This new paradigm will begin with an analysis of the client’s existing and planned business processes, and will provide total workflow solutions utilizing multifunctional imaging platforms and information distribution systems. These systems will be backed by professional and reliable technical service and proactive customer service. By forming strategic alliances with local Information Industry Value-Added Resellers, we will be able to offer turnkey Local Area Network (LAN) systems and the ability to retrofit existing LAN and peer-to-peer systems.

3.1 Sales Literature

Copies of our product and sales literature are attached as appendices. Of course, one of our first tasks will be to change the message of our literature to make sure we are selling the company, rather than the product.

3.2 Product and Service Description

IMH will market and sell brand name business information distribution systems and hardware, technical service and support for these products, and the consumable supplies used by these systems. We will be a single-source provider for business information and imaging products and services.

After researching our various manufacturer’s offerings and evaluating our core competencies, we will focus our marketing and sales efforts around the digital products offered by Canon USA and eCopy, Inc. We will supplement this product line with Lexmark and Hewlett Packard printer products. As we continue to transition the company into the digital marketplace, we will form alliances with additional IT manufacturers and suppliers who can round out our product and services line.

Hardware product offerings will include:

  • Hewlett Packard Printer products (laser)

Software offerings will include:

  • Canon Image Platform (document distribution)

Service Products include:

  • Sale of consumable products for all brand names (Canon, Ricoh, Xerox, HP, Lexmark)

Professional Services include:

  • Network design and installation (sub-contracted)

3.3 Competitive Comparison

The only way we can hope to differentiate well is to define the vision of the company to be an information technology ally to our clients. We will not be able to compete in any effective way with the large mainland-based office equipment companies by selling boxes or products as appliances. We need to offer a real alliance to our local customers.

The benefits we sell include many intangibles: confidence, reliability, knowing that somebody will be there to answer questions and help at the important times. These are complex products that require serious knowledge and experience to use. Our competitors tend to sell only the products themselves, and very little in the way of after-sale training and support.

Unfortunately, we cannot sell the products at a higher price just because we offer services; the market has shown that it will not support that concept. We have to also sell the service and consumable supplies and charge for them separately. This monthly recurring revenue is the foundation of our financial stability.

3.4 Technology

New technology has changed almost everything about the traditional office equipment (copier) industry, and for all practical purposes it no longer exists. The new Information Industry has emerged because of the technology of convergence. The primary driver of convergence of different forms of information is technological change, specifically the rapid diffusion of digital technology into an ever-wider array of information businesses. Beyond digitization, dramatic changes in computing and telecommunications industries (mainly in faster microprocessors and increasing bandwidth) are also driving convergence.

IMH will make convergence the theme of its vision, planning, and marketing strategies. We will move into the new Information Industry’s technology with the aim of bringing the most efficient workflow solutions to our clients while providing value-added customer support and service, and earning a reasonable profit in the process.

3.5 Service and Support

Our strategy hinges on providing unparalleled service and support, which is critical to setting us apart from the competition. We need to differentiate on service and support in order to become true partners with our clients. Our service offers will include:

  • Upgrade analysis : we will periodically assess our client’s business processes and requirements, and offer cost-effective upgrade solutions to meet changing needs.

3.6 Future Products and Services

Beginning at start up, we will explore and research new information technologies for inclusion in our product offerings. The products which we choose will be in line with our vision to transition the company from being an appliance seller, to being a provider of total information management solutions. These convergent information products will include:

  • Media transport and reproduction (distribute and print)

3.7 Fulfillment

We have an established relationship with our manufacturers and suppliers, and will be able to take advantage of all discounts and promotions in order to keep our margins at roughly 49% throughout the operation. We will also implement and employ “just-in-time” inventory strategies for hardware, supplies, and service parts orders to further strengthen our margins.

As we continue to grow the business, we will evaluate other IT industry manufacturers and product lines to strengthen our offerings with a view primarily to quality and margin advantages.

Market Analysis Summary how to do a market analysis for your business plan.">

IMH will focus on local markets, including small offices and home offices (1-9 employees), medium to large businesses (10-99 employees), corporate Hawai’i (multiple locations or 100+ employees), and local government offices.

4.1 Market Segmentation

Our market segmentation scheme is fairly straightforward, and focuses on all Neighbor Island businesses. The information contained in our customer analysis table is taken directly from the 2000 US Census and government directories, and clearly shows that our largest market potential is the small office and home office (SOHO) segment. This segment is largely overlooked by most of our competitors because of its “low end” buying habits, and a reluctance to compete with the major retail chain box movers. We will target the SOHO market segment with value-added and affordable business solutions customized to its unique needs, and offer the same quality of service and support as are afforded the larger businesses.

The next largest market segment is medium to large businesses, and is the arena where we now focus most of our sales efforts. We will continue to target this segment, but with a different approach than our predecessors. The strategy used by former management has been to bring in selected products, and then attempt to find a buyer. This resulted in inventory overstock, and obsolescence. We will work with the medium to large businesses to determine their needs, and design customized solutions before ordering the required systems (JIT inventory strategy). This segment will remain an extremely important part of our marketing mix, and contains a large portion of our current clients. A majority of our systems upgrade opportunities and repeat business will come from this market segment initially.

Although the Corporate Hawai’i market segment is the smallest in numbers, it has the potential to provide a significant share of our revenues and growth (the 80/20 rule). We have a scattering of current clients in the Corporate Hawai’i segment, but we need to do a better job of penetrating this lucrative end of the market. We will accomplish this by offering professional services to include workflow and network design, MIS support, and other value-added support benefits such as “uptime guarantees.” We will develop long-term relationships within this segment, and earn their business.

The local government market segment is unique in that we act primarily as a “middle man” for our manufacturers due to GSA price schedules and other national government-only programs. This segment is fiercely competitive, very price-focused, and buying decisions are often influenced by “who you know,” as well as price. We are fortunate in that we have long-established relationships within the County and State government agencies, and have many loyal clients in this segment. We will increase our share of this market segment by offering the same value-added service and support benefits that we bring to our commercial clients.

Information technology business plan, market analysis summary chart image

4.2 Target Market Segment Strategy

Developing a market strategy is a departure from the way the company has been managed in the past. We will change the paradigm of being a product- and price-focused sales organization, to that of becoming a customer- and market-focused organization, with all departments sharing responsibility for customer satisfaction. We will accomplish this paradigm shift through the implementation of a balanced scorecard philosophy of management, with special attention to employee learning and growth.

As mentioned previously our market segmentation strategy is straightforward, and addresses all components of the Neighbor Island business community. Planning and implementing specific strategies for each of the four identified segments will be an on-going process, and we will consult with marketing specialists, and our manufacturers, to further refine these efforts as we develop our marketing plan.

4.2.1 Market Trends

The most significant trend in today’s business-to-business marketplace is the move from analog to digital technology, and from stand-alone workflow functions to multifunctional platforms which are connected to a network. It is this trend that has caused many of the major players in the outdated office equipment (copier) industry (Xerox, IKON, etc.) to falter, and see their profits decline. This is true mainly because of their inability to change rapidly from an “analog mentality” and move forward in applying the emerging convergence of digital information technologies to the marketplace.

That is the primary reason that IMH has chosen Canon USA as its preferred manufacturer. Canon has led the way in the industry with it’s digital technology innovations, and its ability to bring both the product and the concept to the marketplace. We will follow Canon’s lead and bring this efficient, productivity-enhancing technology to Neighbor Island businesses.

4.2.2 Market Growth

As computer prices continue to fall, unit sales increase. The published market research on sales of personal computers is astounding, as the United States market alone is absorbing more than 30 million units per year, and sales are growing at more than 20 percent per year. We could quote Dataquest, Infocorp, IDC, or others; it doesn’t matter, they all agree on high growth of CPU sales.

This rapid growth rate holds true for productivity systems which connect to the computers being sold. The stand-alone analog systems and appliances which abound in the business marketplace today, will be replaced by connected digital convergence systems in the coming months and years. IMH will position itself to be a value-added provider of this rapidly emerging technology for new businesses, while continuing to maintain and upgrade our current analog customer base.

4.2.3 Market Needs

All businesses have in common a need to be continuously productive, and they rely on their service providers and vendors to sustain their productivity. Effectively filling this need requires that the vendor bring to the table sound planning, quality products, reliable service, and a true partnership and support relationship.

Specific business needs include the ability to gather, compile, analyze, and distribute information in various media formats. This is where IMH’s strengths will be most beneficial to our clients, both big and small. Anyone can sell the “box” at an attractive price, but only a true value-added provider can offer the peace-of-mind that comes from a customer-focused approach to the relationship.

Primarily due to geographic isolation and smaller populations, the Neighbor Island business community has an additional common need of being able to rely on other locally-based vendors and suppliers for quick, reliable, customer service and support. Having to call someone on Oahu, or the mainland, to place a service call, or to order supplies, or get an answer to a simple billing question, is both an irritant and a hindrance to most Neighbor Island-based businesses. Our primary goal is to fill this need by bringing true pro-active, and total, customer service to the Neighbor Island business community, and to gain their confidence and loyalty. This will become one of our underlying strengths.

4.3 Service Business Analysis

IMH is a part of the Information Industry, and specializes in providing information management systems and technology for business processes. We envision that a converged information industry operating within the context of an advanced information infrastructure will be a huge boost for U.S. businesses. Several Washington think tanks estimate that it could spur more than $300 billion annually in new sales and increase worker productivity by 20 to 40 percent.

At the present time, an estimated two-thirds of all American jobs are information related, and that number will increase as the shift from manufacturing to service industries continues. The convergence of information industries will continue because the technological and business imperatives are compelling. If one company does not see the possibilities, another will.

4.3.1 Competition and Buying Patterns

Business decision makers and finance managers understand the concept and value of service and support, and are much more likely to pay for it when the offering is clearly stated.

There is no doubt that we compete more against the box pushers than against other service providers. We need to effectively compete against the idea that businesses should  buy information platforms as plug-in appliances that don’t need ongoing service, support, and training.

Our research and experience has indicated that our target market segments think about price, but would buy based on quality service if the offering were properly presented. They think about price because that is what is traditionally presented to them first. We have very good indications that many would rather pay 10-20% more for a relationship with a long-term vendor providing back-up and quality service and support. They end up in the box-pusher channels because they are not aware of the alternatives.

Availability is also very important. The business decision makers tend to want immediate, local solutions to problems.

4.3.2 Distributing a Service

Medium to large business segment buyers are accustomed to buying from vendors who visit their offices. They expect the copy machine vendors, office products vendors, and office furniture vendors, as well as the local graphic artists, freelance writers, or whomever, to visit their office to make their sales.

Unfortunately our SOHO target segment buyers may not expect to buy from us. Many of them turn immediately to the retail superstores (office equipment, office supplies, and electronics), the Web, and mail order to look for the best price, without realizing that there is a better option for them for only a little bit more. We will overcome this hurdle through innovative service offerings, and targeted marketing.

4.3.3 Main Competitors

In our higher-end targeted segments (medium to large businesses, corporate Hawai’i, and government offices), the primary competitors are Xerox and Lanier. The secondary “low end” competitors on the Neighbor Islands are Maui Office Machines and Business Equipment on Maui, and Electronics Hawai’i and Stationers on the Big Island. Our overall competitive strategy in these segments will be Canon’s superior technology, and superior value-added service and support.

In our SOHO target segment, the primary competitors are the superstores: Office Max, Office Depot, Sears, and to some extent Costco, Hopaco, and the Web. While these outlets can offer lower prices, they offer no (or very little) aftermarket service or support. That is our competitive advantage in this segment, and will differentiate us from these “box movers.”

4.3.4 Business Participants

The traditional office equipment (copier) industry has been dominated by only a few major manufacturers: Xerox, Canon, Oce, and Ricoh (and its OEM products – Lanier, Savin, and Gestetner); and then come the low-end players: Sharp, Toshiba, and Minolta. With the exception of Xerox, which maintains its own sales force, the other manufacturers distribute and sell mainly through authorized dealers.

The rapidly emerging Information Industry’s digital convergence products will most likely be dominated by the same participants as described above. While Xerox has been a past leader in the manufacture and sales of analog products, Canon has emerged as both an innovator, and the leader, in the new Information Industry with their ImageRunner digital products and Image Platform information distribution systems. Canon is also (and has been for many years) the front runner in color repro-graphic systems, and holds the most patents of any manufacturer in the industry.

Strategy and Implementation Summary

We must differentiate ourselves from the box pushers. We need to establish our business offering as a clear and viable alternative for our target markets, to the price oriented sales pitch to which they are accustomed.

From the standpoint of the office equipment (copier) industry the paradigm has been:

  • 30-day sales window – war with competition mainly on price.

The industry’s cheese has been moved. In order to shift to a more contemporary paradigm, our marketing and sales efforts will need:

  • A new marketing concept – customer oriented, profit oriented, integrated efforts.

5.1 Competitive Edge

Our competitive edge is our positioning as a strategic ally with our clients, who are clients more than customers. By building a business based on long-standing relationships with satisfied clients, we simultaneously build defenses against competition. The longer the relationship stands, the more we help our clients understand what we offer them and why they should both stay with IMH, and refer us to other businesses. In close-knit communities like the Neighbor Islands, reputation is extremely important, and word-of-mouth advertising is invaluable.

5.2 Strategy Pyramid

Our main strategy will be placing emphasis on service and support, and our main tactics are networking expertise, systems training, and implementing a customer relationship management system (CRM) from e-automate. Our specific programs for networking include mailers and internal training. Specific programs for end user training include direct mail promotion, and on-site customer programs. Implementing the CRM software and training will be coordinated with the e-automate Corporation.

Our second strategy is emphasizing relationships. The tactics are marketing the company (instead of the products), more regular contacts with the customer, and increasing sales per customer. Programs for marketing the company include new sales literature, and direct mail. Programs for more regular contacts include call-backs after installation, direct mail, and sales management. Programs for increasing sales per customer include upgrade mailings and sales training.

5.3 Value Proposition

IMH offers its clients peace-of-mind by being a vendor who acts as a strategic ally, and delivers quality products backed by premium service and support, at a premium price.

5.4 Sales Strategy

We will sell the company and its ability to act as an ally. We will sell IMH, and the reputation of the industry-leading manufacturers it represents.

We will sell our service and support. The hardware is like the razor, and the support, service, software, and training, are the razor blades. We need to serve our customers with total solutions, and not just product features. The products are a means to arriving at end solutions.

The Yearly Total Sales chart summarizes our conservative sales forecast. We expect sales to increase from $3.1 million in the first year to more than $4 million in the third year of this plan.

5.4.1 Sales Forecast

The important elements of the sales forecast are shown in the following Chart, and Table 5.4.1. Non-hardware sales increase to almost $2 million total in the third year, or 47% of total sales.

Information technology business plan, strategy and implementation summary chart image

5.5 Milestones

The following table lists important program milestones, with dates and managers in charge, and budgets for each. The milestone schedule indicates our emphasis on planning for implementation. The most important programs are the sales and marketing programs listed in detail in the previous topics.

5.6 Marketing Strategy

The marketing strategy is the core of our main strategy:

  • Develop specific programs for each target market segment:
  • Government Offices – workflow/process surveys, uptime guarantees, GSA rates and incentives

5.6.1 Sales Programs

Specific sales programs will be included in our new Marketing Plan, and will be included in this Business Plan as they are finalized. In general however, our sales programs will be centered around conducting workflow and information distribution analyses, direct mail, and placing an emphasis on the benefits which IMH and its manufacturers will be able to offer its clients through “total care” service and support.

5.6.2 Positioning Statement

For businesses who want to be sure their information distribution systems are always working reliably, IMH is a vendor and trusted strategic ally who makes certain their systems work, their people are trained, and their down time is minimal. Unlike the product/price oriented vendors, it knows the customer and goes to their site when needed, and offers proactive support, service, training, and installation.

5.6.3 Pricing Strategy

We must charge appropriately for the high-end, high-quality service and support we offer. Our revenue structure has to match our cost structure, so the salaries we pay to assure good service and support must be balanced by the revenue we charge.

We cannot build the service and support revenue into the price of products. The market can’t bear the higher prices and the buyer feels ill-used when they see a similar product priced lower with the competition. Despite the logic behind this, the market doesn’t support this concept.

5.6.4 Promotion Strategy

We will employ the following general promotional strategies for the various market segments:

  • SOHO: We will depend on periodic local newspaper advertising, to reach new buyers in this segment. We will also utilize direct mail and and the resources of the local Chambers of Commerce and other affinity groups to reach this segment. The message will emphasize service first, and “complete product and service packaging” as a secondary theme.
  • Medium to Large Businesses: Direct face-to-face contact (direct sales) will continue to be our primary strategy for this market segment. Direct selling will be supplemented by periodic promotional direct mailings and personalized system upgrade opportunities.
  • Corporate Hawai’i: This segment will be handled by direct contact and relationship building only. We will make personal presentations to the decision makers in this group, and stress our service and technical benefits and advantages.
  • Government Offices: We will utilize a combination of direct mail and face-to-face promotional strategies with this segment, and the message will be the local service and technical advantages of IMH. We will produce an attractive RFQ/RFP response package to accompany our submissions.

5.6.5 Distribution Strategy

IMH is first and foremost a direct sales organization, meaning that we must present our services and products directly to the majority of our customers and clients. Having said that, for our planned penetration into the SOHO market, we will need to establish a presence as a Value-Added Reseller (VAR) for certain low-end product lines which don’t carry the margins necessary to sustain the costs of direct sales. We will plan our new locations accordingly.

5.6.6 Marketing Programs

As we work to complete this Business Plan, we are simultaneously working on our Marketing Plan. As you can see from the milestones table, we anticipate completion of our detailed Marketing Plan by 9/30/01, or one month from start-up. Because we are acquiring an on-going business, the shift to our vision of customer- and market-focused strategies will not happen overnight. We must plan this shift carefully, and implement it judiciously, so as not to disrupt our immediate operations. We have budgeted for, and will utilize, marketing advisors and consultants (including our manufacturers) in the design of our Marketing Plan.

5.7 Strategic Alliances

Our alliances with our manufacturers, and especially Canon USA, will be the most pivotal to our success. We will remain a Canon Authorized Dealer, and continue to enjoy all of the benefits of this long-standing relationship.

We will form alliances with other locally-based VARs and computer network providers to enable us to provide complete turnkey packages for our clients. These relationships will be included in our Marketing Plan.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Our management philosophy is simple and is an integral part of our values: doing right things right, the first time (Kina’ole).

IMH will be an employee-owned company and we all share the same vision of providing our clients (who in many cases are friends and neighbors) with the very best in customer service – period. We will encourage personal growth, creativity, and enable individual empowerment to achieve this goal. We will manage the business by setting achievable Balanced Scorecard goals, measuring them, and making mid-stream adjustments as necessary.

6.1 Organizational Structure

Our team includes 15 employees initially, and is organizationally flat. The departmental divisions are sales and marketing, service, and administration. Operational managers include:

  • Systems Manager (two positions – Big Island and Maui): Oversees all service issues including service agreements, service call prioritization and response, carry-in service, customer support, and systems training and development. Will be assisted by Systems Engineers, and Systems Technicians.

6.2 Personnel Plan

The total head count moving over from Servco at the time of the acquisition will be 13. We are adding two former employees at startup to round out our team, for a total startup head count of 15.

There are an additional six positions shown as “vacant” in the Personnel plan. During each quarterly business plan review, we will assess the need to fund these positions to sustain our growth, and more evenly distribute the workload.

6.3 Management Team

Bill Harding, president and general manager:  XX years old, and has lived on Maui for 43 years. Joined SIOT in 1998 as Maui branch manager, and became general manager for Neighbor Island operations six months later. Prior management experience includes: BTA market manager of the Neighbor Islands for VoiceStream Wireless, Neighbor Island area sales manager for Central Security Systems, and radar project manager for Telcom International in Nigeria, West Africa. Bill has attended numerous management and sales training courses and seminars throughout his career.

Laurie Watson, secretary/treasurer and administrative manager: XX years old, and local Maui resident. Has been at the same location through three different owners prior to Servco’s acquisition of The Office Place in 1995, for a total of 15 years of local office equipment industry experience. Laurie has extensive knowledge of service procedures and dispatching, A/R and A/P procedures, inventory control and tracking, as well as an intimate knowledge of our customer base. Her experience and knowledge will be invaluable in recovering our customer base, and in growing the business.

Anne Tioganco, office manager (Hilo): XX years old, and local Hilo resident. Anne has also been with the company through all of the acquisitions, and has XX years experience in the office equipment industry. She will assist Laurie by handling the administrative and customer service tasks for our Hilo branch, and will be instrumental in our Big Island customer recovery efforts.

Earle Oshiro, systems manager (Big Island): XX years old, and local Hilo resident. Like Laurie and Anne above, Earle has been with the company through four different owners, and has XX years of local office equipment service management experience. Earle has also completed Canon’s “train the trainer” course, and will be a great asset in the on-going training and development of our systems engineers and technicians.

Joseph Alfonsi, systems manager (Maui): XX years old, and local Maui resident. Joe joined the Maui branch of SIOT in 1999 as field service manager, after transferring from the SIOT Honolulu branch. He has XX years of local office equipment industry service experience, and is familiar with both Canon and Ricoh products. Joe is an asset to the Maui team, and has outstanding customer service skills.

6.4 Management Team Gaps

We believe we have a good team for covering the main points of the business plan. Key members have the experience and knowledge to manage and grow the business, and are highly motivated by the employee-owner concept.

The obvious management gap is a plan to fill the general manager’s position at some point in the future, before the current GM reaches retirement age. As an employee-owned company, the preferred strategy will be to promote from within, and fill vacancies as they occur. As the company grows, we will seek out additional talent in all operational areas.

Financial Plan investor-ready personnel plan .">

Although we are treating the business as a start-up company, the financial plan is solidly based on past performance. We have taken actual SIOT P&L income and expenses from the past three years, and eliminated corporate overhead expenses such as warehouse and administrative costs, inventory penalties, and corporate nominal interest. We then projected income based on actual past performance, and factored back in the revenue base that was relocated to Honolulu over the past two years (mainly service and supplies).

We approached the financial planning from a conservative standpoint, and based those numbers on achievable gross margins. Also, our actual interest and tax rates will most likely be lower than the assumed rates due to our being structured as an employee-owned corporation (ESOT).

7.1 Important Assumptions

The financial plan depends on important assumptions, most of which are shown in Table 7.1. As mentioned previously, we assumed interest and tax rates based on a “worst case” scenario, and these will be adjusted once we have finalized the initial funding and establish the ESOT. We have also assumed our personnel burden at 30% of payroll in order to allow for above-average benefits for our employees. As we shop around for benefits vendors, this assumption will be subject to revision as well.

Other key business assumptions are:

  • We assume access to the start-up funding necessary to re-shape and re-build the company, and to provide adequate initial capitalization.

7.2 Key Financial Indicators

As shown in the Benchmarks chart below, our key financial indicators are:

  • Inventory Turnover: We will maintain just-in-time inventory levels, or 11 turns per year. This will require accurate sales forecasting, and working closely with our manufacturers. We have already begun this process under SIOT, and the Neighbor Island inventory levels are well below previous years.

Information technology business plan, financial plan chart image

7.3 Break-even Analysis

For our break-even analysis, we assume running costs which include our full payroll, rent, and utilities, and an estimation of other running costs. Payroll alone, at present, is about $65,500 per month (including benefits and taxes).

We will monitor gross margins very closely, and maintain them at a midrange percentage by taking advantage of all promotions and discounts offered by our manufacturers. Canon USA has tentatively agreed to offer us “end column” pricing as a new dealer incentive.

The chart shows what we need to sell per month to break even, according to these assumptions. This is about 78% of our projected sales for our first year, and is well below what we have achieved annually over the past three years under more adverse operating conditions.

Information technology business plan, financial plan chart image

7.4 Projected Profit and Loss

Our Pro Forma Profit and Loss statement was constructed from a conservative point-of-view, and is based in large part on past performance. By strengthening our service position, and rebuilding our customer relationships, we will widen our customer base and increase sales.

Month-to-month assumptions for profit and loss are included in the appendix.

Information technology business plan, financial plan chart image

7.5 Projected Cash Flow

Because we are treating the new company as a start-up, the cash flow for FY2002 is somewhat exaggerated by the instant influx of new capital. Subsequent years however show a healthy growth in cash flow, mainly due to the short 60-month repayment of the start-up loan and increased sales.

Information technology business plan, financial plan chart image

7.6 Projected Balance Sheet

The Projected Balance Sheet is quite solid. We do not project any trouble meeting our debt obligations as long as we achieve our specific objectives.

7.7 Business Ratios

The following table shows our main business ratios, and is compared to national averages. Our SIC industry class is currently: Office equipment, nec – 5044.99.

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Free Startup Business Plan Templates and Examples

By Joe Weller | May 6, 2020

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In this article, we’ve rounded up a variety of the top, professionally designed startup business plan templates, all of which are free to download in PDF, Word, and Excel formats.

Included on this page, you’ll find a one-page startup business plan template , a business plan outline template for startups , a startup business planning template with a timeline , and a sample startup business plan .

Startup Business Plan Template

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Download Startup Business Plan Template - Word

Word | Smartsheet

This startup business plan template contains the essential components you need to convey your business idea and strategy to investors and stakeholders, but you can customize this template to fit your needs. The template provides room to include an executive summary, a financial overview, a marketing strategy, details on product or service offerings, and more.

One-Page Startup Business Plan Template

One Page Business Plan For Start Up Template

Download One-Page Startup Business Plan Template

Excel | Word | PDF

This one-page business plan is ideal for startup companies that want to document and organize key business concepts. The template offers an easy-to-scan layout that’s ideal for investors and stakeholders. Use this plan to create a high-level view of your business idea and as a reference as you flesh out a more detailed roadmap for your business.

For additional resources, visit " Free One-Page Business Plan Templates with a Quick How-To Guide ."

Simple Fill-In-the-Blank Business Plan Template for Startups

Simple Fill In The Blank Business Plan Template

Download Simple Fill-in-the-Blank Business Plan Template for Startups

This comprehensive fill-in-the-blank business plan template is designed to guide entrepreneurs through the process of building a startup business plan. This template comes with a customizable cover page and table of contents, and each section includes sample content that you can modify to fit the needs of your business. For more fill-in business templates, read our  "Free Fill-In-the-Blank Business Plan Templates"  article.

Lean Business Plan Template for Startups

Lean Business Plan Templates for Startups

Download Lean Business Plan Template for Startups

This Lean business plan template takes a traditional business plan outline and extracts the most essential elements. Use this template to outline your company and industry overview, convey the problem you are solving, identify customer segments, highlight key performance metrics, and list a timeline of key activities.

Business Plan Outline Template for Startups

Simple Business Plan Outline Template

Download Business Plan Outline Template for Startups

You can use this business plan outline as a basis to create your own business plan. This template contains all the elements of a traditional business plan, including a title page, a table of contents, and information on what to include in each section. Simplify or expand this outline based on the size and needs of your startup business.

Startup Business Planning Template with Timeline

Simple Business Planning Template with Timeline

Download Startup Business Planning Template with Timeline

Excel | Smartsheet

As you create your business plan, this business planning template doubles as a schedule and timeline to track the progress of key activities. This template enables you to break down your plan into phases and provides space to include key tasks and dates for each task. For a visual timeline, shade in the cells according to each task’s start and end dates. The timeline ensures that your plan stays on track.

Business Plan Rubric Template for Startups

information technology startup business plan

Download Business Plan Rubric Template for Startups

Excel | Word | PDF | Smartsheet

If you’re starting a business and want to keep all your ducks in a row, use this rubric to evaluate and score each aspect of your startup business plan. You can tailor this template to the needs of your specific business, and can also highlight areas of your plan that require improvement or expansion. Use this template as a tool to make sure your plan is clear, articulate, and organized. A sharp, insightful, well thought-out plan will definitely get the attention of potential investors and partners.

For additional resources to help support your business planning efforts, check out “Free Startup Plan, Budget, and Cost Templates.”

What’s the Best Business Plan Template for Startups?

The template you choose for your startup business depends on a number of factors, including the size and specific needs of your company. Moreover, as your business grows and your objectives change, you will need to adjust your plan (and possibly your choice of template) accordingly. 

Some entrepreneurs find it useful to use a Lean business plan template design in order to jot down a business concept and see if it’s feasible before pursuing it further. Typically one to three pages, a Lean business plan template encourages you to highlight core ideas and strategic activities and remain focused on key points.

Other entrepreneurs prefer a template with a more traditional business plan design, which allows you to go into greater detail and ensure you include every detail. A traditional plan can range from 10 to 100 pages and cover both the high-level and granular particulars of your overall concept, objectives, and strategy.

There is no one-size-fits-all solution, but the following section outlines the minimum that your business plan template should include in order to gain buy-in from potential investors.

What to Include in a Startup Business Plan

Whether you choose to use a template to develop your startup business plan or decide to write one from scratch, you need to include the following elements:

  • An overview of your company and the industry in which it operates
  • The problem you are solving and the proposed solution
  • A description of your product or service offerings, including key features
  • The existing alternatives that customers use and your competitive advantage
  • The target customer segments and the channels you will use to reach them
  • The cost structure and revenue streams associated with your business
  • A financial plan, including sales and revenue projections (ideally 3-5 years)
  • If applicable, the financial requirements to get your business running, including how you will source and allocate funds

Each of the following sections provides an example of a business plan that you can use for reference as you develop your own.

One-Page Lean Business Plan Example

This Lean business plan example displays a visually appealing and scannable one-page illustration of a business plan. It conveys the key strategies you need to meet your main objectives. Each element of this concise plan provides stakeholders and potential investors with links to resources that support and expand upon the plan’s details, and it can also serve as an investor pitch deck.

One Page Business Plan Example

Startup Business Plan Sample

This business plan sample contains all the aspects of a standard business plan. Using a fictional food truck business as the basis for a startup business plan, this sample will give you all the ideas you need to make your plan outstanding.

Basic Business Plan Sample

Download Startup Business Plan Sample - PDF

When the time comes that you need more space to lay out your goals and strategies, choose from our variety of  free simple business plan templates . You can learn how to write a successful simple business plan  here . 

Visit this  free non-profit business plan template roundup  or of you are looking for a business plan template by file type, visit our pages dedicated specifically to  Microsoft Excel ,  Microsoft Word , and  Adobe PDF  business plan templates. Read our articles offering  free 30-60-90-day business plan templates  to find more tailored options.

Top 10 Tips to Create a Startup Business Plan

Putting together a business plan can be overwhelming and time consuming, especially if you aren’t sure where to begin. Below, we share tips you can use to help simplify the process of developing a startup business plan of your own. 

  • Use a business plan template, or begin with a business plan outline that provides all the elements of a standard plan to get your ideas down on paper in a structured manner. (You can choose from the selection of templates above.)  
  • Remove sections from your outline that aren’t relevant or that aren’t necessary to launch and operate your business.
  • Compile the data you have gathered on your business and industry, including research on your target market and product or service offerings, details on the competitive landscape, and a financial plan that anticipates the next three to five years. Use that information to fill in the sections of your plan outline. 
  • Get input and feedback from team members (e.g., finance, marketing, sales) and subject matter experts to ensure that the information you’ve included in the plan is accurate.
  • Make certain that the objectives of your plan align with marketing, sales, and financial goals to ensure that all team members are moving in the same direction.
  • Although this section of the plan comes first, write the executive summary last to provide an overview of the key points in your business plan.
  • Prepare a pitch deck for potential clients, partners, or investors with whom you plan to meet in order to share vital information about your business, including what sets you apart and the direction you are headed. 
  • Who are the founders and management executives, and what relevant experience do they bring to the table?
  • What is the problem you are solving, and how is your solution better than what currently exists? 
  • What’s the size of the market, and how much market share do you plan to capture?
  • What are the trends in your market, and how are you applying them to your business?
  • Who are your direct competitors, and what is your competitive advantage?
  • What are the key features of your product or service that set it apart from alternative offerings, and what features do you plan to add in the future?
  • What are the potential risks associated with your business, and how do you plan to address them?
  • How much money do you need to get your business running, and how do you plan to source it?
  • With the money you source, how do you plan to use it to scale your business?
  • What are the key performance metrics associated with your business, and how will you know when you’re successful?
  • Revisit and modify your plan on a regular basis as your goals and strategies evolve.
  • Use a work collaboration tool that keeps key information across teams in one place, allows you to track plan progress, and captures updates in real time.

Successfully Implement Your Startup Business Plan with Real-Time Work Management in Smartsheet

Empower your people to go above and beyond with a flexible platform designed to match the needs of your team — and adapt as those needs change. 

The Smartsheet platform makes it easy to plan, capture, manage, and report on work from anywhere, helping your team be more effective and get more done. Report on key metrics and get real-time visibility into work as it happens with roll-up reports, dashboards, and automated workflows built to keep your team connected and informed. 

When teams have clarity into the work getting done, there’s no telling how much more they can accomplish in the same amount of time.  Try Smartsheet for free, today.

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12+ Tech Startup Business Plan Examples – PDF, Word, Apple Pages

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Many of us have this wild dream of becoming a hot-shot CEO with a cup of overpriced coffee on one hand and the latest smartphone on the other, but to get there, you still need to start fresh. You may also see  business plan outline with examples .

  • Business Plan Outline with Examples
  • How to Create a Business Plan?

Having a good business idea is one thing, but turning this vision into a reality is another matter that many individuals refuse to invest on when the struggles they need to go through become known.

Technology Startup Business Plan Template

technology startup business plan template

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Tech Startup Business Plan Example Template

tech startup business plan

With the many opportunities and promising business ideas to choose from, business owners are starting to recognize what technology can offer them not just for personal use, but as a corporate investment as well.

Amidst the likes of Apple, Samsung, and Sony comes the wide variety of tech startups emerging in the marketplace at rapid speed. So in this article, we discuss what it takes to become a successful tech startup with the help of a simple business plan .

Tech Startup Business Plan Template

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Business Plan for Startup Example

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Educational Tech Startup Business Plan Example

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What Is a Tech Startup?

With the wide use of technology being more prominent now than ever, many tech startups are making the attempt to make a breakthrough in the competitive market with their innovative (and sometimes peculiar) product and service offers for consumers to enjoy. You may also like  business plan guidelines examples . A tech startup is a company whose purpose is to bring various forms of technology-based products and services to the market. These companies are set to deliver a wide range of new or existing technology products or services in a variety of ways.

They come in the form of a company, a partnership, or a temporary organization that is designed to search for a repeatable and scalable business model to launch. With technology being an essential factor of our day-to-day lives, startups aim to bring innovativeness, scalability, and growth through their creations. Though it might be a while until robots and artificial intelligence completely replace manual labor, we can expect a lot from these promising tech startup ideas, especially those with an exceptional business plan in place. You may also see  business operational plan examples .

IT Startup Business Plan Example

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Mobile Tech Startup Business Plan Example

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10 Essential Elements of a Tech Startup Business Plan

Every tech startup is different, with each company specializing in one thing that’s fairly different from the other. But if there’s one principle that every startup company needs, then it’s the universal wisdom of experience. You may also like to learn  how to create a business plan . Truth is, many companies have attempted to try new things but failed while at it. Others have pivoted and re-branded hoping to get another shot with investors and clients, only to come out empty-handed.

Transforming your big idea into a revenue-generating reality can be a daunting experience of disappointments and rejections. But then again, in order to succeed in business (and life in general), you need to learn from these experiences to come out a million times better. The following items explain what makes a tech startup successful and the factors that you need to keep in mind when constructing your business plan :

1. Think Highly of Yourself.

This may sound like an egoistic move, but don’t take it the wrong way.

As a startup business, it wouldn’t hurt to pretend you’re a lot bigger than you actually are. They say that this can attract the type of energy you hope to achieve. Acting like a bigger company will also allow you to grow into the efficiencies it gives you. It also requires you to work just as hard as the big dogs do. Not to say you’re prohibited from having a fun work environment, as you do want to keep employees happy for them to stick around long enough for the company to prosper, but insisting on a disciplined execution will definitely keep the business afloat. This will make it easier to partner or collaborate with other successful brands who might just offer you your big break. You may also check out  market analysis business plan examples .

2. Choose the Right Partners.

As a startup founder, choosing the right partners to complement your skill set and realize your vision is crucial to corporate success. Partnerships can be a tricky business, especially when it has become so easy for offshore or outsourcing companies to squeeze the money out of a vulnerable (and rather gullible) startup. It’s best to do your research on existing companies and startup founders, preferably those who have been a part of a successful company in the past, before you engage in a potential deal. You may also see  network marketing business plan examples .

3. Create a Software-as-a-Service (SaaS) Plan.

You know how TV shows come out with pilot episodes first before they can release an entire season of the show? With the same concept in mind, experts believe that it’s always best to start selling parts of your product before completing a full platform. Getting market validation early on in your startup’s growth stage will give an idea of what your target customers are looking for in a product or service. This will also help you start building revenue as you continue to understand how the entire process works. You may also like  how to make a business plan .

They also believe that while a good business idea is important, so is the way it is presented to investors and clients. Allowing your prospects to see your capabilities will work wonders for your startup along the way. You may also check out  importance of business plan .

4. Go for the Standout Pitch.

It’s always hard to make a pitch with a potential investor. With the dozens of business ideas that come their way, standing out from the “good” and the “pretty good” is crucial to getting noticed. Your pitch with a prospect will only end with one of two ways: you either get accepted or declined. Naturally, getting accepted is the only thing that matters most. You might be interested in  free business plan examples .

Since it may be difficult to identify the things that you should do and should not do for your pitch, it’s a good idea to speak with entrepreneurs with businesses that did not make it. It’s easy to focus on the successes, but not many seem to recognize the value of failures as well. This provides you with enough insight regarding how and why a company or an idea did not make the cut. You may also see  bookkeeping business plan examples .

Professional Tech Startup Business Plan Example

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Tech Startup Business Plan Example

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Tech Startup Business Plan for Students Example

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5. Prepare to Be Rejected.

You’ve probably heard this a thousands times before, and it couldn’t be emphasized enough. Rejection will always be a possibility, but just because a couple of investors have said “no” to you before, don’t use this as a reason to give up.

Getting the first check is the hardest, which is why many successful business owners suggest to spend the time building VC (Venture Capital) relationships before funding, and to continue networking until you have secured the necessary funds. The rejection will definitely take a toll in your spirit and drive to move forward, but you need to learn to get back up and rise above the negativity for a better and brighter future. You may also see  hotel business plan examples .

6. Keep It Innovative.

There should never be a reason to stop building. You can always turn a “good” idea into something “great.” And even if it feels like you’ve reached the peak of greatness, there will always be room for more improvement.

Take tech giant Apple as an example. Even when people thought that the Touch ID of the iPhone 5S was a phenomenal feature, Apple released a facial recognition feature through Face ID which was specially designed for the iPhone X. The system was designed just a few years after the Touch ID, which proves just how the company continues to uphold the value of innovation through their products. You may also check out  advertising and marketing business plan examples .

7. Aim for a Deliverable Product.

Startup founders tend to be optimistic and idea-driven, yet, they can’t seem to confine to the status quo. Though adapting to market demands is also important, picking a single area of innovation and focusing on a product that’s better than anyone else’s is key. You need to make sure you’re moving toward the right direction by understanding the exact things that your target market wants. You may also like  business plan examples .

However, you need to work quickly. Trends fade and people get bored too easily. If you want to prosper, start delivering products as soon as you can and stay focused on making them a hit.

8. Put Pen on Paper.

Even after an investor has made a vow to work with you, you still need to put it in writing. Contract documents  are a real thing, and you need to be responsible for them. This goes both ways in your professional relationship, as you’d want to make your counterpart feel comfortable to work with you, and you need to be able to trust that these prospects would stick to their word.

Though creating these formal documents may be pricey, it’s definitely worth the spend to guarantee long-term business relationships.

9. Be Careful with Cryptocurrency.

You might have heard about various prediction market platforms and forecasting tools that have allowed users to foresee the outcomes of real-world events, as well as buying and selling shares through smart contracts. You might be interested in  simple business plan examples .

While building on blockchain or relying on cryptocurrency may seem like a promising venture, you’d still want to sketch out a full architecture of your plan, challenge it, and then build it.

10. Plan for the Long-Term.

Even with the potential risks and challenges that may cause your business to fail along the way, you still need to be optimistic enough to plan for the long-term. Investing in strong talent and developing a culture for your business to thrive on will help build a solid foundation for your startup. This will also pave the way for many opportunities, leading your business to the right direction. You may also see  bar business plan examples .

Tech Startup Business Plan Guidelines Example

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Tech Startup Business Plan Sample

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How to Write a Business Plan for Your Startup

Anyone can have a great idea; in fact, you can ask a 12-year-old for a business idea and they’d probably give you something more imaginative than what any other 30-year-old could offer. But transforming this idea into a viable business is a different ballgame you wouldn’t want to mess up. You may also see  e-commerce marketing plan examples .

So if you’re hoping to launch a tech startup anytime soon, here are a few tips on how you can create an effective business plan:

1. Have a clear objective.

Set a clear objective that’s anything but ambiguous. You need to be specific about what you hope to achieve. Since starting a business requires you to offer a solution in order to address a problem, your business plan should identify who you are and what you aim to do. You must also state the kind of products and services you’ll be offering and in what industry for a more specific approach. You may also see  convenience store business plan .

2. Identify your target audience.

Although your products and services will be made available for the general public, it isn’t exactly designed for everyone. Some tech startups create products for other businesses, while others cater to buying customers of a specified demographic. Knowing who your target consumers are will help you determine every detail of the product, its ideal market price, the right distribution channels, as well as your promotional strategies. You may also see  business checklist examples .

3. Study your competition.

Another important factor to include in your research is your competition. You need to remember that as a startup, no one knows about you, let alone care that you exist. With so many direct competitors in the marketplace, standing out is a definite must. Figure out what makes you different from other existing companies, and you can go from there. A SWOT analysis may also be used for proper assessment.

4. Budget properly.

Running out of cash is one of the primary reasons why many businesses fail. You might start out with a million dollars in capital, but be down to your last thousands after a year or two. When this happens, your business is at risk of closing and filing for bankruptcy. This is why it’s important to take the time to budget accordingly to help minimize the risk. You may also check out marketing strategy business plan examples .

5. Define your power structure.

Running a tech startup can never be a one-man show. You need to have a reliable team of staff members to manage each department of the company, including your accounting, marketing, operations, and HR sectors. This doesn’t have to be too complex, as new businesses usually start small before they begin expanding. You may also see  digital marketing plan examples .

Launching a startup company can be an exciting experience for any ambitious entrepreneur. However, it’s easy to rush into things and wind up regretting your wrongful decisions. So before anything else, always remember to write a good business plan to launch your company on the right foot. You may also like  business plan examples in PDF .

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25 Tech Business Ideas for 2022

Robert Beaupre

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money .

If you’re looking to start a business with high earning potential, you’ve probably looked into some tech business ideas.

And why wouldn’t you? In 2019, the estimated economic output of the technology industry was $1.8 trillion, comprising over 10% of the national economy, according to CompTIA. What’s more, the average successful startup exit (via either acquisition or IPO) has sat at $242.9 million since 2007.

However, for every successful startup exit, there are hundreds if not thousands of startups that have failed. So if you’re an entrepreneur hoping to hit it big in the technology sector, you need to start with a strong tech business idea.

In an industry defined by innovation and disruption, what constitutes a “good” tech business idea is constantly changing. That’s why we’ve compiled a list of tech business ideas that are poised for extreme growth in the coming years.

information technology startup business plan

What is a tech business?

Tech businesses provide products and services that have applications across multiple industries — but at their core, they pertain to the research, development and distribution of technology-based goods. This includes businesses that manufacture electronics (like Apple), create software (like Salesforce), provide services relating to information technology (like Google) and more.

The best part about our technology business ideas is that they don’t require a lot of overhead—you can start small and grow over time. However, you will need some level of technical knowledge to be able to successfully start a business in the industry. If you don’t have any tech experience, consider starting with a coding bootcamp.

Here are some of the top tech business ideas, including some recommendations from tech entrepreneurs themselves.

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Once we uncover your personalized matches, our team will consult you on the process moving forward.

1. Food tech

Our first recommendation comes from Phil Strazzulla, founder of HR software company SelectSoftware. Strazzulla sees the food tech sector as a major growth industry in the coming years:

“Companies like Beyond Meat are just the beginning of businesses engineering eco-friendly and healthy food that is as delicious as our current diet. The science is now there, and the market for next-generation food is literally in the trillions of dollars, and it grows just as quickly as the world's population.”

2. Web design

One tech business idea that will never go out of style is website design. That’s because pretty much every business needs a professional-looking website in order to appear reputable and build their brand.

Web design encompasses a range of different services, including graphic design, interface design, copywriting, UX design, and SEO. According to IBISWorld , the web design business has grown at a rate of 6.6% over the last five years, and generated $38 billion in revenue in 2019, meaning you can rely on there being a market for this tech business idea for years to come.

3. Extended reality

Extended reality technology encompasses both augmented reality, or AR, and virtual reality, or VR, technologies. Kenny Trinh, editor of tech review publication Net Books News, sees extended reality technology proliferating in the coming years.

"In 2020, we’ll see more and more businesses applying extended reality to their brands to stand out from the competition and deliver a better customer experience,” says Trinh. “In fact, some businesses have been doing that already.”

Trinh points to the eco-friendly water packaging project W-in-a-Box, which uses AR to further explain the benefits of their product.

4. Robotics

Robotics is a bit of a catch-all term that encompasses mechanical engineering, electronic engineering, information engineering, computer science and other related disciplines. The goal of robotics is to create machines that can move and react to sensory input. According to Statista , this industry is expected to grow from $80 billion in annual revenue in 2019 to over $200 billion in annual revenue by 2025.

5. Customer experience management, or CXM

Ian Kelly, VP of operations for a CBD oil company called NuLeaf, believes customer experience management platforms like ZenDesk will soon make customer relationship management platforms, or CRMs, obsolete.

"While a CRM can help you manage customer details, a CXM unifies all sales, marketing and customer service conversations into a single silo so that your customers are treated like the loyal fan-base they are,” says Kelly. “No more hitting your customer over the head with repeat promos, selling them on services/products they already have or letting them slip through the cracks when they've bought and never been properly onboarded.”

6. Influencer marketing

Influencer marketing is an industry enabled by social media platforms like Instagram involving endorsements and product placements from individuals or organizations who possess a certain level of expertise or social influence in their respective fields. While not just anyone can be an influencer, if you possess some level of unique knowledge or a lot of charisma, you can launch a business by gathering a social media following and hiring an influencer marketing agency to connect you with brands.

On the flip side, you can also launch a business focused on connecting brands with the right influencers for their products and mission.

7. Content automation

With content and social media becoming an ever-growing part of many businesses’ marketing plans, Gleb Myrko, an analyst at the market research firm Freedonia Group, believes content automation software presents a great opportunity for tech entrepreneurs.

"Businesses today have accounts on all different social media channels like Instagram, Facebook, TikTok, etc. All of these channels require different approaches to content planning, content production and account management and analytics,” says Myrko. “There’s still not a widely applied tool for omnichannel management, promotion and analytics for the most popular social media. We need an all-in-one hub where marketers can analyze data/performance, as well as manage and promote their accounts on different social media channels in a more centralized, convenient and effective manner.”

8. Artificial intelligence

The term “artificial intelligence" is used to describe technologies pertaining to machine learning, computer vision, natural language processing and more. Although artificial intelligence is a technology that has been around for quite some time, as it becomes increasingly sophisticated, its market potential is growing as well.

Statista reports that the industry grew by 154% in 2019 alone—making it a great tech sector to build a business around.

9. Podcasting

If you’ve been paying attention to innovations in content over the past few years, you’re probably aware of the exploding popularity of podcasts. Today, 51% of the U.S. population has listened to a podcast, and podcaster Dre Baldwin sees podcasting’s prospects only increasing in the coming years.

“Entrepreneurs need to start building their podcast content library ASAP,” Baldwin says. “More and more people are consuming media on the go; audiobooks and podcasts are at the forefront of this. Any entrepreneur or business entity that wants the attention of consumers needs to be in their ears, literally.”

10. Streaming service

Services like Netflix and Disney+ get most of the attention when it comes to streaming services, but there is plenty of opportunity to start a streaming service for more niche content. For example, you can create a streaming service where users can upload instructional videos or a streaming service designed specifically for children’s content. You could also develop a platform for live streaming (like Twitch) or streaming music (like Spotify).

The global outlook on the streaming service industry is overwhelmingly positive. In 2019, streaming services generated $25 billion in revenue. By 2025, that number is expected to rise to $30 billion, according to Statista.

11. 3D printing

One of the more exciting technologies developed during the 2010s is 3D printing, which allows users to build a three-dimensional object from a computer-aided design model. Shayne Sherman, CEO of TechLoris, believes 3D printing will have increased importance in the next decade as the technology continues to become more sophisticated.

"There will always be the need for production companies, but just as the advent of the assembly line changed production, so too has 3D printing,” Sherman says. “The ability to manufacture whole components in single pieces has created a serious demand, especially in the medical fields. This demand means that 3D printing companies are set to grow exponentially, and if you can get into the business, it's a solid choice for the coming years.”

12. E-commerce

E-commerce is another technology that has been around for a while, but still has growth potential. Over the last year, Statista reports that e-commerce sales grew from $500 billion to nearly $550 billion.

If you have a unique idea for an e-commerce store, you can launch your own e-commerce business from the comfort of your home. No product in mind? Not to worry; dropshipping allows you to start an e-commerce business with products you are not responsible for warehousing or shipping.

If you want to grab a bigger share of the market, you could also take the time to develop your own e-commerce platform or marketplace. Just keep in mind that the e-commerce platform space is already dominated by giants like Shopify and Amazon. Therefore, if you want to start your own e-commerce platform, we suggest focusing on a niche market.

13. Portable charging devices

Mobile devices go with us everywhere nowadays, but having your phone battery die on you while you’re out is still a far too common problem. That’s what’s driving the growth of the portable phone charging industry.

According to data published by BCC Research, the portable charging device market is expected to grow by 6.6% year over year from 2017 to 2022. Growth is driven by the fact that many newer phone models have lower battery capacity.

"Growing urbanization, rising disposable income and increasing mobile phone penetration will boost the mobile charger market around the globe,” according to the report’s author Mohammed Javed. “Increasing penetration of high-specification electronic gadgets/devices that drain batteries at faster rates will further boost the mobile charger market in the near future.”

14. Publishing e-books

An e-book is a book made available in digital form. If you’re a writer, there is a growing market for books published online. Businesses are creating e-books as a way to market their brand, and aspiring authors of fiction and nonfiction publish e-books as a way to reach more customers and grow their readership.

In 2019 alone, revenue generated from e-books topped $1.3 billion, and that number will rise to $1.6 billion by 2024, Statista reports.

15. Fitness tech

Technology has applications in nearly every industry — including the fitness industry. We’ve already seen new technologies like FitBit, Peloton and Strava change how people exercise, and more innovation is on the horizon. That’s the belief of Jared Weitz, founder of United Capital Source Inc.

"Fitness technology is an area of continued growth. Whether it is creating products like fitness trackers, wireless earbuds or smartwatches that have multiple functions, the market is constantly seeking new gear and technology,” Weitz says. “This niche is expanding from tangible fitness products to the apps and data that marry the physical and digital together. Combine a high-tech device with an app related to exercise or diet and you will be setting yourself up for success in 2020 and beyond.”

16. Online teaching

Do you know a foreign language? Can you build a treehouse? Do you cook really good soup? Then you can make money sharing your knowledge and expertise online. Thanks to services like Teachable and Udemy, teachers can now build their own online classes, sell them to students and teach the entire class online. If you’re a good teacher and know how to market your class, you can earn a livable wage by teaching your skills to others through the internet.

17. Mobile application development

Every business needs a website. And the way the market is trending, soon every business will also need their own mobile app. This presents an exciting opportunity for individuals skilled in app development. Successful companies like Braze and Leanplum have built their entire business around developing apps for others.

There is really an endless supply of app ideas. There were 194 billion app downloads in 2018 alone, and that number is only expected to climb. So strike while the iron is hot.

18. Search engine optimization consultant

Google is still an essential part of many business’s marketing strategies. They need to be able to appear as a top result in Google Search for keywords related to their business. That means they need someone who is skilled in search engine optimization, or SEO, to help them. Some businesses hire people to perform SEO in-house, but many organizations also work with freelancers or third-party agencies to implement an SEO strategy. If you can train yourself in SEO and keep up with its ever-changing trends, you can start a business providing SEO services to other organizations.

19. Social media consultant

If you’re not into SEO, but are good on social media, you can work with businesses to help them generate likes, shares, retweets, followers, comments, clicks and more as a social media marketer . In this role, you’ll consult with companies and help them manage their social profiles, spread content across the web and build their brand.

What’s more, the startup cost to be a social media marketer is minimal and can be done from your own home. Just be sure to buff up your social media skills and keep up with the latest trends and platforms.

20. Drone videography

If you own a drone and know how to use a camera, there’s a market for your services. Commercial and residential real estate agents are increasingly using aerial shots as a way to market their buildings and property. You can find real estate agents in your area using platforms like Zillow. Then reach out and offer up your services. Other industries, such as agriculture, events and more have uses for drones, as well.

21. Cybersecurity or IT consulting

Businesses today are increasingly threatened by cyberattacks, making the need for IT consultants greater than ever. As an IT consultant, you can help businesses evaluate their security systems, run tests and offer advice on how they can better protect themselves from cyberhackers.

More generally, an IT consultant can help businesses set up their computers and troubleshoot any general issues.

22. Venture capitalist

A vast majority of tech startups are backed by venture funding. If you have an interest in the tech space, but don’t have any technical knowledge yourself, you can try raising some money and becoming a venture capitalist or angel investor.

Similar to being an influencer, a venture capitalist isn’t something you can simply become overnight. That’s because being a venture capitalist requires allowing others to trust you with their money.

You need to start small and make some solid investments in order to make a name for yourself. Many independent investors join a VC fund for a while before striking off and starting their own fund.

23. Startup incubator

Another way to get involved in the tech world without having a lot of technical experience is to create your own startup incubator. The job of an incubator is to help startups plan and launch their business successfully. Services provided may include management training, office space and mentorship opportunities.

Of course, you’ll need some background in business to be able to successfully launch an incubator. The cost of creating your own incubator and attracting founders may also be difficult to muster. Many incubators start small and grow over time once they have successfully helped multiple startups enter the market.

24. Antivirus developer

An antivirus developer is a highly specific sort of tech business idea that pertains to the creation of antivirus software that can help businesses protect critical data. Antivirus software can be created using a variety of different programming languages. The overall goal of an antivirus is to detect and remove malware before it impacts a computer’s systems. Start networking with local businesses in your area to find out if there's a need for this service.

25. Domain name broker

Being a domain name broker is similar to being a stockbroker, except instead of stocks, you sell domain names. To get started you need a little capital to buy some domain names. You’ll then need to educate yourself so that you’ll be able to predict domain name requirements in the future.

So like most of the businesses on this list, it will take some work to get started. But everyone needs a domain name, so there will always be a market for this service.

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Start Your Dream Business

The bottom line

We hope our list has helped you figure out which tech business idea is the right fit for your skills and interests. Regardless of the route you choose to take, you’ll need to write a business plan, create a business entity and maybe take out a business loan to get your startup off the ground.

On a similar note...

One blue credit card on a flat surface with coins on both sides.

Top 4 Business Plan Examples

Writing your first business plan be sure to review these four business plan examples from the startups community that really stand out from the crowd..

November 9th, 2022    |    By: The Startups Team     |    Tags: Pitch Deck

Founders have to learn so many new skills when they're launching a startup, and writing a business plan is a big one. When you're writing your  business plan  for the first time, things can get…  intimidating.

What do you include? What kind of wording should you use? What do you make sure not to include? Is a mid size business plan different than an enterprise plan or a scalable startup? Do I need to include financials like cash flow statements? What do investors want to see?

It's enough to make even a stalwart startup founder and management team throw in the towel before they've even begun.

Lucky for you — we've created a  complete guide to writing your business plan . Check it out if you haven't already. (And if a link from there brought you here, just keep reading!) We'll share some business plan samples so you can get started writing your own professional business plan.

But, while it's nice to be guided step-by-step, it can also really help to have concrete examples when you're approaching creating something for the first time.

So, with that in mind, here are four sample business plans from the Startups community that we think really stand out from the crowd. We hope that these will serve as a startup business plan template and make it easier to write your own. At a minimum, these will provide some great business plan ideas whether you are writing traditional business plans for an established business or biz plans for an innovative new startup. While we would of course suggest you use our business plan creator, Bizplan.com, you can use these examples with any number of business plan apps or business plan software.

Click on the below links to see fully formatted versions or continue reading for the text-only version of Culina's.

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Every good business idea needs a business plan. A traditional business plan can work for most any new business.

CULINA Executive Summary

Fast facts:.

Founded:  2013  Headquarters:  San Francisco, CA  Founder:  Kent McClure  Market Size:  $12.5 billion  Target Audience:  Homeowners; property managers; insurance providers.

Quick Description:

Culina is a San Francisco-based IoT and home automation company. We design an advanced smart hub technology that enables users to interconnect and remotely monitor all of their cooking devices and kitchen appliances through a single user-friendly platform.

Our Mission:

To make homes smarter, more connected, and safer for families while helping them save money and conserve energy through the power of affordable, automated technology.

Our Vision:

To become the leading provider of IoT technology for kitchen appliances on a global scale with applications across both residential and commercial properties.

Company Synopsis:

Culina Tech is the next leading name in home automation and IoT. We're committed to leading the charge in creating the ultimate smart kitchen for homeowners all around the world. Our revolutionary Smart Plugs enable users to make any kitchen appliance or cooking device intelligent. Compatible with all existing brands that plug into standard two or three-prong wall outlets, Culina creates an entire network of Wi-Fi-connected kitchen devices. The Culina App allows users to remotely monitor the status of and control all devices connected to our Smart Plugs. Whether it's remotely turning on the coffee pot after getting out of bed, turning off the stove if it was accidentally left on via smartphone, or switching on the crockpot before getting home from work, Culina is purpose-built to deliver unrivaled convenience and peace of mind.

With the ability to set energy usage caps on a daily, weekly, or monthly basis, Culina helps homeowners stay within their monthly utility budget and save energy in the kitchen through more efficient use of the dishwasher, refrigerator, freezer, stove, and other common appliances.

When a device reaches its energy limit, Culina alerts users through their smartphone and is built with the ability to power down the device automatically if the user chooses. The App measures key usage metrics in real-time, allowing users to get an instant dashboard view of energy consumption as it occurs.

Our team has already finished the product development and design phase, with 3 prototype iterations completed, and we are now ready to begin mass manufacturing. We've also gained major traction among consumers and investors alike, with 10,000 pre-ordered units sold and $5 million in capital secured to date.

With this round of funding, our objective is to ramp up hardware manufacturing, improve software UX and UI, expand our sales and marketing efforts, and fulfill pre-orders in time for the 2017 holiday season. We are currently seeking a $15M Series B capital investment that will give us the financial flexibility to achieve these goals. On behalf of the entire Culina Tech team, we'd like to thank you for your time and interest in our company and this investment opportunity.

Funding Allocation:

⇾  30% Manufacturing  ⇾  25% Sales & Marketing  ⇾  25% Key Hires  ⇾  20% Operational

Team Overview:

The kitchen is the heart of the home. It's a quintessential gathering place where families and friends come together to break bread, be merry, and make memories. But the kitchen is also where tragedy often strikes due to misuse of appliances. Kent McClure and his team set out to make the kitchen a safer and more energy-efficient place for the family after a tragic fire struck his own kitchen in late 2012. Thankfully, no lives were lost and everyone in his family made it out safe and sound, but Kent couldn't help but wonder  “what if.”

With decades in the industrial design space, Kent knew he had the knowledge and the industry contacts to set out to improve upon home automation devices for the kitchen with a solution that not only made homes safer but also cut down on energy consumption and associated costs. In early 2013, Culina was born. Since that time, Kent and the Culina team have made it their mission to completely revolutionize the home automation and IoT space with innovative, AI-powered technology.

Kent McClure | Founder & CEO  Kent is a Carnegie Mellon graduate with over 10 years of executive leadership experience in industrial design and engineering. He has a successful entrepreneurial history, founding a prior tech-based startup which he grew to $100 million in revenue, followed by an acquisition in 2010 and then IPO shortly after.

Sherri Carlson | COO  Sherri earned her MBA from Harvard Business School. She oversees all of Culina's ongoing operations and procedures and is responsible for driving Culina to achieve and surpass sales, profitability, cash flow, and business goals and objectives.

Martin Frink | CTO  Martin is a Stanford University alumnus with extensive technical expertise and over a decade of experience at venture-backed tech companies. He is responsible for Culina's technical vision, heading up all aspects of our technological development, strategic direction, development, and future growth.

Margaret Burns | CFO  Margaret earned her degree in Financial Management from NYU. Prior to joining Culina, Margaret spent seven years as CFO for a publicly-traded mobile tech company headquartered in Silicon Valley. She currently manages Culina's financial risks and handles all financial planning, record-keeping, and reporting.

Business plans should contain a company description, market analysis, financial plan, and mission statement.

COMPANY OVERVIEW

Market opportunity.

An enormous need exists for dramatic reductions in energy consumption. Businesses alone consume 12-20% of the total US energy supply on food production, processing, manufacturing, distribution, and preparation.

On the residential side, the Energy Information Administration estimates that the average US household uses 11,280 kWh per year. Many homeowners are simply unaware of the large amount of energy consumed by many small household kitchen appliances:

Dishwasher:  133 watts  Television:  1,200 to 2,400 watts  Coffee Maker:  900 to 1,200 watts  Washing Machine:  350 to 500 watts  Toaster:  55 to 250 watts  Window Fan:  800 to 1,400 watts

The majority of US households now spend roughly 35 percent of their energy consumption on appliances, electronics, and lighting.

Most homeowners don't think about the little details that can help save them money on their energy bill. The vast majority of people keep the refrigerator or freezer too cold, fail to make sure refrigerator door seals are airtight, neglect to regularly defrost fridges and freezers, overload their dishwashers, and keep dishwasher water temperature too hot. As a result, energy consumption remains high, and energy bills remain high.

Not only do kitchens represent a primary source of household energy consumption, but also a primary source of house fires. More fires start in the kitchen than in any other room in the home, and household cooking appliances frequently account for billions of dollars in fire-related insurance claims every year. The number one cause of house fires and house fire injuries is the stove.

✓  46% of house fires caused by cooking equipment  ✓  62% of house fires caused by ranges or cooktops  ✓  $4,000 average fire and smoke damage repair costs

Culina is actively solving both of these common challenges caused by cooking equipment simultaneously. Our technology provides homeowners with immediate, real-time insight into their energy consumption by aggregating data for all kitchen appliances connected to our Smart Plugs while also delivering the preventative intelligence necessary to reduce kitchen-related disasters.

Key Features and Benefits:

We designed our Culina Smart Plugs to work in tandem with an intuitive, user-friendly mobile application — allowing users to gain a much-needed technological upgrade to the most popular room in the house.

Easy Setup:

Culina Smart Plugs work with standard two and three-pronged appliances and cooking devices. Simply attach the Culina Smart Plug to the appliance's electrical, plug it into the wall, download the Culina app, connect, and configure.

A one page business plan is a single page overview of your business plan format, logistics and operations plan priorities, and overall direction.

Constantly Learning:

Powered by machine learning artificial intelligence, our Intelligent Culina Response System learns user habits every time someone uses an appliance connected to one of our Smart Plugs.

Multi-Threat Sensors:

Our state-of-the-art sensors detect a variety of potential threats to the kitchen — including sudden and unusual temperature fluctuations, poisonous gas and emissions, toxic smoke, and more. Homeowners receive alerts whenever unusual activity is in progress such as a stovetop being left on for too long or during an unusual time of day.

Remote Monitoring:

Users can monitor all information directly from an easy-to-navigate dashboard in real-time using the Culina App for iOS and Android. Users can check metrics such as fridge and freezer temperature, cook time, and usage data as it is being gathered.

Remote Appliance Control:

With the Culina App, users can control all connected appliances and devices. If our Smart Plug is attached to a crockpot, for example, a user can add the ingredients before they head to work, activate the crockpot remotely, and come home to a readymade meal waiting for them the moment they step through the front door.

Free business plan templates are available online, or you can create your own business plan as the business owner if you don't want a traditional business plan.

Remote Shut-Off:

Not only does remote operation over appliances provide convenience, it also serves to prevent kitchen-related hazards. The Culina App includes auto shut-off capabilities allowing users to turn off appliances using their smartphone even when they're not at home. This is particularly useful in the event that users forget to turn off the oven or stove to prevent potential house fires.

Advanced Notifications:

In addition to notifying users if an appliance is left on by accident or if it detects a potential hazard, Culina also reminds users anytime regular maintenance is required.

Energy Consumption Data:

Users can also monitor energy consumption on a weekly basis right from the Culina App. By providing at-a-glance insight into whether energy use has gone up or down, users gain the ability to adjust their usage accordingly in order to conserve energy and ultimately save money in utility bills the long term.

Inter-operability:

Our cloud-based technology integrates with other popular platforms including Google's Nest and Lowe's Iris.

Cost-Saving Benefits:

Not only can users conserve money in energy consumption bills with Culina, but new insurance guidelines also provide significant discounts for homeowners who deploy smart technologies in their homes.

Pricing and revenue

Culina will initially monetize from hardware sales.

Our product will sell for $149 MSRP with approximately 40% profit margin. We will initially sell our product through popular e-commerce platforms and through our website — followed by brick-and-mortar outlets including Lowe's, Best Buy, Home Depot, and other major big box retailers.

5-Year Net Revenue Projections for business planning financial statements

Company Milestones:

With much of the heavy lifting already completed, Culina has laid the groundwork for rapid expansion going forward. Here's an overview of our accomplishments since first founding the company in 2013.

Consumer Validated:

Our first-generation product is market-ready and primed for commercial manufacturing. We have pre-sold 10,000 units, representing approximately $1,890,000 in pre-launch revenue. Our immediate customer base growing by the day and we have successfully proven that this is a product that consumers want and are enthusiastic about.

Investor-Backed:

We have secured a total of $5 million in funding from angel investors, founder capital, friends and family, and VCs.

Proprietary Technology:

We have applied for and have been granted a provisional patent for our Smart Plug technology.

Strategic Partnerships:

We are in the process of building relationships with notable industry leaders, influencers, and development teams in the home automation sector. We are also in advanced-stage partnership discussions with a number of major name insurance providers.

Press Mentions:

Culina has received coverage in many of today's most renowned tech and entrepreneurial publications, including The Wall Street Journal, The Huffington Post, TechCrunch, The Verge, WIRED, and Engadget, among others.

Manufacturing:

A US-based contract manufacturer has been secured and is ready to begin production with the capacity to produce around 50K units per month as we scale.

Culina Company Timeline: 2013-2017 — displaying competitive advantages to secure funding in possible future rounds.

Future Development

Our initial focus on the consumer space with our launch product is just the first step in our long-term roadmap to growth. In order to capture a larger market share and continue scaling the company exponentially, we are planning on rolling out a B2B model in the future. This will provide Culina with new revenue streams and will offer a valuable, tech-driven solution for businesses.

Commercial Kitchens:

Commercial kitchens consume a huge amount of energy — roughly 2.5 times more per square foot than any other commercial space, according to the EPA.

The Foodservice Consultants Society International (FCSI) estimates commercial kitchen equipment is often only 50% efficient. The challenge with reducing energy consumption in commercial kitchens is that it's neither practical nor affordable to replace all kitchen equipment or redesign entire workspaces.

In an effort to reduce CO2 emissions, some governments are offering incentives to businesses that can cut back on their carbon footprint. In the UK, Enhanced Capital Allowances allow businesses to benefit from 100% tax relief on their qualifying capital expenditure on energy-saving equipment. This can provide a cash flow boost and an incentive to invest in energy-saving equipment which normally carries a price premium compared to less efficient alternatives.

Our 2nd generation product will represent a revenue-generating and energy-saving solution for commercial kitchens where equipment is frequently selected based on low capital cost with little regard to whole life-cycle cost and the resulting negative energy consumption.

Built on cloud computing, machine-to-machine communication, and information-gathering sensors, the Internet of Things market is rapidly making more and more commonplace devices “smarter.” Factor in the increasing prevalence of smartphones and tablets, and home automation and IoT products are now becoming much easier to use and significantly more affordable than they have ever been before.

What was once only reserved for the wealthy and tech-savvy, everyday consumers now have direct access to and can take advantage of a growing number of home automation devices. The evolution of the Internet of Things has enabled consumers to digitally connect and remotely control everything from their door locks to their thermostat to their garage opener and essentially everything else in between. Evidence of the enormous impact home automation tech has had in the consumer space can be seen in the enormous adoption of products like Nest and Amazon Echo.

The home automation market and Internet of Things (IoT) space is a thriving industry with growth expected to exceed $50 billion by 2020. This represents an estimated 300% increase from today's market of $12.5 billion. Around 8.4 billion connected devices will be installed globally by the end of 2017, representing a +31% increase in just one year. Around 63% of these devices will be used by consumers, with the remainder deployed by businesses.

Culina is perfectly positioned to capitalize on a major multi-billion dollar market opportunity to provide greater protection, actionable intelligence, lower energy consumption, and more cost savings to the millions of homes in the US.

Most every business plan template online will prompt to identify target market, a cash flow statement, and business structure.

Target Audience

We are directly targeting three specific target populations for our product:

Homeowners:

Homeowners are our end users and will benefit the most from our product. For homeowners, Culina represents safety, peace of mind, increased convenience, and an economically-wise investment that pays for itself over time.

Residential Property Managers:

Including apartment complexes and student housing owners. Culina offers increased owner ROI, occupant satisfaction, and significantly lower operational and maintenance costs.

Insurance Companies:

By reducing home fires caused by unattended cooking and the resulting billions of dollars in related insurance claims filed every year. Insurance companies can also leverage our technology to adjust homeowners insurance policy pricing.

Marketing Strategy

Culina has carefully developed a diverse marketing plan intended to keep our brand in the hearts and minds of our existing and prospective customers, enabling us to continue expanding our reach and grow our business. Between our massive social network followings and email database contacts, we regularly communicate directly with over 100,000 consumers.

SEO & Social:

We will drive traffic and conversions to our website using social media marketing via Facebook, LinkedIn, Twitter, Instagram, Snapchat, YouTube, and others. We are also exploring SEO and SEM.

Content Marketing:

We consistently release marketing content through our blog that aims to educate our audience about the value that our product provides. Our content marketing efforts aim to influence and persuade readers without having to rely solely on conventional direct selling tactics.

Influencer Marketing:

We will launch an initiative to guest blog articles and features in IoT, home automation, and startup tech publications like TechCrunch, Wired, VentureBeat, and other outlets in our industry.

Use an example business plan to get your information down — make sure to include market research, balance sheet, financial projections, and industry trends.

Competitive Landscape

Primary competitors for Culina include other companies that are currently operating in the home automation and Internet of Things space, such as Nest Labs, Amazon Echo, and Wallflower Labs.

Leading home automation company Nest introduced its first product, Nest Learning Thermostat, in 2011. The company was founded in 2010 by former Apple engineers Tony Fadell and Matt Rogers and is headquartered in Palo Alto, California. Nest was acquired by Google on January 14, 2014, by Google for $3.2 billion and still operates under its own brand identity.

Nest Labs designs programmable, self-learning, sensor-driven, Wi-Fi-enabled thermostats, smoke detectors, and other security systems.

The 3rd generation Nest Thermostat prices at $249; Nest Indoor and Outdoor Cams are $199; and their Smoke & CO Alarm retails for $99.

Key Weaknesses:

After Nest's acquisition, the company has underperformed in sales and fallen below the expectations that Google set for them when it purchased the startup.

Amazon Echo

Amazon Echo, also known as Alexa, is a voice command device powered by artificial intelligence and designed by mega online retailer Amazon.com. The smart home hub was initially released in November 2014.

Alexa is a voice-activated virtual assistant housed within the Echo smart speaker. Users simply say her name and then ask a question or give a command.

The Amazon Echo retails for $99 for Amazon Prime members and $170 for everyone else.

However, some users have noted the uneven sound quality and limited “skills” capabilities. Users can also only interact and communicate with Alexa in English and German.

Founded December 1, 2013, Wallflower Labs is a Charleston, MA-based startup that designs an internet-connected smart plug that works with any freestanding plug-in electric stove. The company's founder previously founded Yap — a speech recognition technology that was acquired by Amazon in 2011 to help develop Alexa. The startup has raised a total of $2.5 million from three rounds of equity funding to date, with the most recent funding reported at $1.5 million via a convertible note on August 30, 2016.

The smart plug sounds an alarm and alerts homeowners via smartphone when the stove is turned on, someone forgets to turn it off, when a cooking time expires, or the smoke alarm activates.

Because Wallflower Labs are still in the pre-launch phase, the company has not yet publicly released consumer pricing information.

Unlike Culina, which connects with all smart appliances and cooking devices in the kitchen, Wallflower Labs is solely focused on monitoring stove usage.

How Culina Measures Up:

Competitive Analysis - Competitive Landscape table — included in a business plan template.

Differentiating Factors

Culina maintains a unique competitive advantage over other existing home automation and IoT products in several categories. Our biggest differentiators include:

Diverse Product Capabilities

Culina makes it possible to gain an across-the-board view from an entire network of interconnected devices. Whether they're connected to the refrigerator, gas or electric-powered stove, microwave, or dishwasher, our Smart Plugs can deliver insight into everything from smoke and gas detection, to temperature changes, and usage metrics — regardless of the brand and through a single, user-friendly app.

User-Friendly

Our technology is easy to use and doesn't require any technical-savvy. Setup and configuration are simple, users are able to be up and running out of the box in approximately 10 minutes, and software updates are deployed over the air.

Affordability

Culina is priced below our competitors' products while delivering superior functionality and value. This will be an essential factor in helping us continue to gain market share nationally.

Team Strength Our team is comprised of industry veterans who bring decades of experience to the table across industrial design, mobile tech, cloud-based technology, artificial intelligence, and more.

Our leadership team has a history of starting and leading companies to successful exits and has established valuable relationships with industry leaders along the way that will help us strategically position Culina as a market innovator in the days ahead.

Investment Opportunity

Culina is currently seeking a total of $15M in  Series B equity financing  to fuel the next stage of company growth — including manufacturing, pre-order fulfillment, ongoing development of our platform, and marketing efforts in order to continue expanding the Culina brand. Any remaining funds will be allocated as operating capital.

Why Invest in Culina? With Culina, investors have the opportunity to get in on the ground floor with a company that's positioned to grow into a leading innovator in the home automation and IoT space.

With Culina, we've tapped into something truly extraordinary that's being celebrated by both early adopters and investors alike. With 10,000 units pre-sold and $1.89M in pre-launch revenue , we've already successfully demonstrated validation in the consumer space. With over $5 million in funding secured across several financing rounds, we've already proven that investors believe in our company, our mission, and our ability to succeed.

We've also established a scalable business model and robust product pipeline that will prime us for widespread expansion in the days ahead. We're now seeking investors who share our passion and commitment to pushing the boundaries of what home automation can be and do through nextgen technology.

We're looking forward to working with you in accelerating Culina's growth to become a dominant player in the booming global home automation and IoT industry.

Business plans are essential to any business. We hope this example business plan article guides you through your own business plan process.

In Conclusion

We hope these  business plan  examples will get you started on the right path in getting your business idea into a full-on company. Keep in mind that these startup business plan examples are not a uniform guide for every business, and some information may vary. You may need a 5-year business plan template, or perhaps just some business plan examples for students. Make sure to remember this as you start writing your business plan, and comment below to let us know if these examples of business plans for startups were helpful in your startup journey.

For more helpful founder information: check out our podcast! The No BS version of startup life you've been looking for:  Startup Therapy .

About the Author

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Startups is the world's largest startup platform, helping over 1 million startup companies find customers , funding , mentors , and world-class education .

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Technology Business Plan Template

AUG.16, 2016

Technology Business Plan Template

Technology business plan for starting your own business

If there is one field that cannot go out of business within the foreseeable future, that is the technology business. This business has been growing vastly since the start of this century. There are more technology businesses out there than you can count, yet there is a capacity for new entrants in this field. We have made this business plan for technology company to tell you in sheer detail how to start a information technology company.

This business plan is based on the real-life example of MacArthur Tech Services. Let’s see how this business plan for investors can help you make money.

Executive Summary

2.1 the business.

MacArthur Tech Services will be a licensed and register tech services provider in Detroit. It will be owned by Maximilien MacArthur who is a former executive from Silicon Valley and has worked for many tech startups. This business plan for tech startup will help you learn from MacArthur’s experience.

2.2 Management of Technology Company

While explaining how to start a business solutions company, the first important thing to learn is the management of the company. You need to know the managemental hierarchy of the company for technology business setting up. This can also be used as a business plan for bank to get debt financing for your startup.

The management of MacArthur Tech Services will mainly be handled by MacArthur himself. He will hire experts of the field to help him with the operations.

2.3 Customers of Technology Company

As a semiconductor business plan is a vast field, we need to determine what customers would we be dealing. This includes the following:

  • Domestic Customers

These customers will include the people who:

  • Want to get their personal computers fixed.
  • Want home-based tech and connectivity solutions.
  • Want consultancy for domestic tech setups.
  • Business Clients

These will be slightly bigger than the domestic customers and will include:

  • Businesses looking for automation.
  • Small businesses looking for digital bookkeeping and inventory management.
  • Businesses looking for better connectivity solutions.

These customers will need:

  • Campus management solutions.
  • Labs and Library computer setups.
  • Corporate Clients

These will be the biggest clients needing corporate-grade computing and tech solutions.

2.4 Business Target

The target will be to become the leading provider of tech services in all of North America.

Technology Business Plan - 3 Years Profit Forecast

Company Summary

3.1 company owner.

The owner of MacArthur Tech Services, Maximilien MacArthur is an expert of the field. He started his career with a repair shop and that makes and excellent computer repair business plan today. He then moved to the Silicon Valley where he made a information technology business plan example by starting a number of companies and making them successful.

3.2 Why the Technology Company is being started

MacArthur has an extensive knowledge of the field and has set many information technology business continuity plan example. He has helped a number of tech companies successful and is now planning to make a company of his own. He is passionate about it and knows where there is a gap in this business and how he can make a name in this field.

3.3 How the Technology Company will be started

Step1: Planning

The next thing we need to cover in this technology business plan sample is the planning to start the business. No business plan for tech company can be complete without that.

We need to plan everything from the number of employees and starting costs for the business to the perspective customers.

Step2: Branding

People trust the companies that have established brand names. In order to make it successful, our tech company will also establish a strong brand name. An impressive brand logo, moto, and color scheme will be chosen to make this happen.

Step3: Establish Your Office

MacArthur Tech Services will have an office in downtown Detroit from where all the services of the company will be extended to the customers.

Step4: Establish a Web Presence

No successful technology business plan can be complete without web presence. An extensive website will be launched for customers to interact with MacArthur Tech services.

Step5: Promote and Market

All possible ways of communication will be used to make sure that MacArthur Tech Services is known in all of Detroit and Michigan.

Technology Business Plan - Startup Cost

The next thing we need to address in this technology business plan template are the services we will be providing. As Technology is a vast field and no single company can reasonably cover all aspects of the industry, we’ll offer limited services in this information technology startup business plan and will try to be the best at them.

The main services provided by MacArthur Tech Services will include:

  • Connectivity Solutions

This area of the services provided by MacArthur will include:

  • Connectivity solutions for domestic clients.
  • Connectivity solutions for offices and businesses.
  • Connectivity solutions for corporate clients.
  • Tech Equipment Supply

This segment of MacArthur’s services will include the supply of:

  • Projectors.
  • Tech Support Services

MacArthur Tech Services will offer support services for clients. These will include support for:

  • Any major fault in tech setups.
  • Break down of network or mainframes in offices.
  • Personal and domestic tech support.

MacArthur Tech Services will maintain a 247 support helpline to provide support to people facing any tech problems.

  • Tech Consultancy

For the clients that do not know where to start with tech, we’ll be giving tech consultancy services.

Marketing Analysis of Technology Business

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excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

If you want to know how to write a business plan for a tech startup, the most important thing for that is the marketing analysis of the technical business plan sample. We are performing the marketing analysis of thebusiness plan technology description to make things easier for you. It is paramount to have an extensive knowledge of thetechnology business solutions if we want the business to be successful.

5.1 Market Trends

The tech market is one of the most fast-growing ones all over the globe. Most of the top companies and richest people in the world right now are associated with this field. We have seen a lot of tech companies come forth and be successful in this field.

The field is a bit saturated but there is always place for companies that come with the intention of providing exalted services in this industry.

5.2 Marketing Segmentation

The customers of our Tech business will be divided in the following market segments. Each segment will need its own specialized set of services.

Technology Business Plan - Marketing Segmentation

5.2.1 Domestic Individual Customers

These will be the lowest paying customers but with the largest values. Anyone who needs an advice on what laptop to buy to anyone looking for someone to setup their workstation will fall into this category. We will provide all the services from the installation of Windows to replacing broken displays. Our focus will be to make repeat customers here.

5.2.2 Small Large Businesses

The businesses needing services for their tech setup will also be our customers. We will provide them with the services including automation, bookkeeping, inventory management, connectivity, and all other services that they might need.

5.2.3 Corporate Clients

This will be the market segment for us that will make the bulk of our income. They will be in a lesser number but will pay the premium prices. We will offer all the services from cloud computing to blockchain services and all other tech-related services a corporation might need.

5.2.4 Nonprofits

Lastly, we will offer discounted services to the nonprofit segment of the business to play our role in community development.

5.3 Business Target

  • To become the leader in tech services in all of North America within 5 years.
  • To provide impeccable tech services to our clients.
  • To expand to at least 3 more states by the end of year 1.
  • To start making an annual $368,000 in profit by the end of year 3.

5.4 Product Pricing

We will keep the product prices lower than the market average at the start. This will be done to attract the customers and once we have enough of them, we will move on to increase the prices.

Marketing Strategy

Now that we know the market we are going to enter, the next thing we need is a business plan in marketing to make sure we get our business objectives. As the Tech market is a saturated one, marketing is one of the decisive factors that can make any information technology business proposal template a success.

We need to be objective here and use any competitive leverage that we have in order for us to be successful and we’ll spare no expense in making sure that our technology startup company is successful.

6.1 Competitive Analysis

  • The thing that will give us an edge on the competitors will be the extensive experience of the owner Mr. MacArthur.
  • We will provide top-notch service and only the best of the best equipment to earn permanent recurring clients.
  • We will provide a 247 support helpline, something that can make a huge difference and something not much of the competitors have.

6.2 Sales Strategy

  • We’ll target the domestic, business, and corporate market at once to ensure that we get the best sales margin.
  • We’ll provide a one-year warranty on all our products and services to make people rely on us and buy from us.
  • Like all the best biotech business plans , we will offer huge discounts for the first two months.

6.3 Sales Monthly

Technology Business Plan - Sales Monthly

6.4 Sales Yearly

Technology Business Plan - Sales Yearly

6.5 Sales Forecast

Technology Business Plan - Unit Sales

Personnel plan

The next thing needed for writing a business plan for a tech startup is the planning of the staff needed to efficiently run the company. This business plan for a web hosting and other tech services needs a number of skilled people to help it run properly. As the main focus of this business is to provide technical support and services, these employees will be the most valuable asset of the business.

7.1 Company Staff

  • Maximilien MacArthur will be the owner and the CEO.
  • 1 General Manager.
  • 1 Operations Manager.
  • 1 Liaison Manager.
  • 5 Technicians.
  • 2 Engineers.
  • 5 Support Agents.
  • 2 Drivers for the support Team.
  • 2 Office Boys.
  • 1 Receptionist.
  • 1 Accountant.

7.2 Average Salary of Employees

Financial plan.

This last part of this business plan information technology company is the financial planning of the business. The recipe for a successful business is to decrease the expenses and increase the income of the setup. To make this happen, we have to have a clear idea of the expenses for starting and running the business. Let’s see a tentative budget planning for a technology business.

Here is a list of the expenditure for starting the business and running it until it starts generating enough revenue to fund itself and return profit.

  • The cost of setting up the office.
  • The cost of setting up an online presence.
  • The cost of advertisement of the business.
  • The salaries of the staff for the starting year.
  • The cost of overheads included in running the business.

8.1 Important Assumptions

8.2 break-even analysis.

Technology Business Plan - Break-even Analysis

8.3 Projected Profit and Loss

8.3.1 profit monthly.

Technology Business Plan - Profit Monthly

8.3.2 Profit Yearly

Technology Business Plan - Profit Yearly

8.3.3 Gross Margin Monthly

Technology Business Plan - Gross Margin Monthly

8.3.4 Gross Margin Yearly

Technology Business Plan - Profit Yearly

8.4 Projected Cash Flow

Technology Business Plan - Projected Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

Download technology business plan sample in pdf

Professional OGS capital writers specialized also in themes such as solid semiconductor business plan , best biotech business plan , business plan for PC fix , technology business plan , developing a business plan for tech, web hosting services business plan and many others.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Business Plan: What It Is + How to Write One

Discover what a business plan includes and how writing one can foster your business’s development.

[Featured image] Woman showing a business plan to a man at a desk.

What is a business plan?

A business plan is a written document that defines your business goals and the tactics to achieve those goals. A business plan typically explores the competitive landscape of an industry, analyzes a market and different customer segments within it, describes the products and services, lists business strategies for success, and outlines financial planning.  

In your research into business plans, you may come across different formats, and you might be wondering which kind will work best for your purposes. 

Let’s define two main types of business plans—the traditional business plan and the lean start-up business plan. Both types can serve as the basis for developing a thriving business, as well as exploring a competitive market analysis, brand strategy, and content strategy in more depth. 

There are some significant differences to keep in mind [ 1 ]: 

The traditional business plan is a long document that explores each component in depth. You can build a traditional business plan to secure funding from lenders or investors. 

The lean start-up business plan focuses on the key elements of a business’s development and is shorter than the traditional format. If you don’t plan on seeking funding, the lean start-up plan can serve mainly as a document for making business decisions and carrying out tasks. 

Now that you have a clear business plan definition, continue reading to learn how to start writing a detailed plan that will guide your journey as an entrepreneur.  

How to write a business plan 

In the sections below, you’ll build the following components of your business plan:

Executive summary

Business description 

Products and services 

Competitor analysis 

Marketing plan and sales strategies 

Brand strategy

Financial planning

Explore each section to bring fresh inspiration and reveal new possibilities for developing your business. Depending on which format you're using, you may choose to adapt the sections, skip over some, or go deeper into others. Consider your first draft a foundation for your efforts and one that you can revise, as needed, to account for changes in any business area.

1. Executive summary 

This is a short section that introduces the business plan as a whole to the people who will be reading it, including investors, lenders, or other members of your team. Start with a sentence or two about your business, your goals for developing it, and why it will be successful. If you are seeking funding, summarize the basics of the financial plan. 

2. Business description 

Use this section to provide detailed information about your company and how it will operate in the marketplace.

Mission statement: What drives your desire to start a business? What purpose are you serving? What do you hope to achieve for your business, the team, and customers? 

Revenue streams: From what sources will your business generate revenue? Examples include product sales, service fees, subscriptions, rental fees, license fees, and more. 

Leadership: Describe the leaders in your business, their roles and responsibilities, and your vision for building teams to perform various functions, such as graphic design, product development, or sales.  

Legal structure: Are you operating as a partnership or a corporation? If you’re registering a specific legal structure within your province or territory, include it here and the rationale behind this choice. 

3. Competitor analysis 

This section will include an assessment of potential competitors, their offers, and marketing and sales efforts. For each competitor, explore the following:

Value proposition: What outcome or experience does this brand promise?

Products and services: How does each one solve customer pain points and fulfil desires? What are the price points? 

Marketing: Which channels do competitors use to promote? What kind of content does this brand publish on these channels? What messaging does this brand use to communicate value to customers?  

Sales: What sales process or buyer’s journey does this brand lead customers through?

4. Products and services

Use this section to describe everything your business offers to its target market. For every product and service, list the following: 

The value proposition or promise to customers, in terms of how they will experience it

How the product serves customers, addresses their pain points, satisfies their desires, and improves their lives.

The features or outcomes that make the product better than those of competitors

Your price points and how these compare to competitors

5. Marketing plan and sales strategies 

In this section, you’ll draw from thorough market research to describe your target market and how you will reach it. 

Who are your ideal customers?   

How can you describe this segment according to their demographics (age, ethnicity, income, location, etc.) and psychographics (beliefs, values, aspirations, lifestyle, etc.)? 

What are their daily lives like? 

What problems and challenges do they experience? 

What words, phrases, ideas, and concepts do consumers in your target market use to describe these problems when posting on social media or engaging with your competitors?  

What messaging will present your products as the best on the market? How will you differentiate messaging from competitors? 

On what marketing channels will you position your products and services?

How will you design a customer journey that delivers a positive experience at every touchpoint and leads customers to a purchase decision?

6. Brand strategy 

In this section, you will describe your business’s design, personality, values, voice, and other details that go into delivering a consistent brand experience. 

What are the values that define your brand?

What visual elements give your brand a distinctive look and feel?

How will your marketing messaging reflect a distinctive brand voice, including tone, diction, and sentence-level stylistic choices? 

How will your brand look and sound throughout the customer journey? 

Define your brand positioning statement. What will inspire your audience to choose your brand over others? What experiences and outcomes will your audience associate with your brand? 

7. Financial planning  

In this section, you will explore your business’s financial future. If you are writing a traditional business plan to seek funding, this section is critical for demonstrating to lenders or investors that you have a strategy for turning your business ideas into profit. For a lean start-up business plan, this section can provide a useful exercise for planning how you will invest resources and generate revenue [ 2 ].  

Use any past financials and other sections of this business plan, such as your price points or sales strategies, to begin your financial planning. 

How many individual products or service packages do you plan to sell over a specific time period?

List your business expenses, such as subscribing to software or other services, hiring contractors or employees, purchasing physical supplies or equipment, etc.

What is your break-even point, or the amount you have to sell to cover all expenses?

Create a sales forecast for the next three to five years: (No. of units to sell X price for each unit) – (cost per unit X No. of units) = sales forecast.

Quantify how much capital you have on hand.

When writing a traditional business plan to secure funding, you may choose to append supporting documents, such as licenses, permits, patents, letters of reference, resumes, product blueprints, brand guidelines, the industry awards you’ve received, and media mentions and appearances.

Business plan key takeaways and best practices

Remember: Creating a business plan is crucial when starting a business. You can use this document to guide your decisions and actions and even seek funding from lenders and investors. 

Keep these best practices in mind:

Your business plan should evolve as your business grows. Return to it periodically, such as every quarter or year, to update individual sections or explore new directions your business can take.

Ensure everyone on your team has a copy of the business plan, and welcome their input as they perform their roles. 

Ask fellow entrepreneurs for feedback on your business plan and look for opportunities to strengthen it, from conducting more market and competitor research to implementing new strategies for success. 

Start your business with Coursera 

Ready to start your business? Watch this video on the lean approach from the Entrepreneurship Specialization :

Article sources

BDC. “ Step 2—Prepare a winning business plan , https://www.bdc.ca/en/articles-tools/start-buy-business/start-business/create-effective-business-plan." Accessed November 13, 2022.

CBDC. " NEW fillable CBDC Business Plan ,   https://www.cbdc.ca/en/new-fillable-cbdc-business-plan." Accessed November 13, 2022.

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