Business Plan: I invented a software for a Catering Service through App Inventor
When developing a startup organization, securing the initial funding for the venture is critically important. One of the key components is providing a business plan – a plan that shows a potential lender, investor, venture capitalist, etc. that you have a good idea and that you have thought out the idea thoroughly. It is in this plan that you describe the good or service you are providing, the market in which your good or service will compete, how your company will be organized (who will lead it, how will it broken down into functional areas), and how much money you need and how much money you believe you can make.
A business plan can take dozens of pages. However, in this class, we will be writing a scaled down business plan that should be much shorter and take only a few pages. The following is a list of elements that I am requiring. Please feel free to re-order (not eliminate) the information if it makes for a better plan and also please feel free to add any information you feel is necessary.
a. Executive Summary – 2-3 paragraph summary of your business plan
b. Problem Statement and Solution – 2-3 sentences on what the problem is and how can your company solve it and 2-3 sentences on your solution
c. Vision Statement – 2-3 sentences on what you hope to be in the future
a. How will your company be organized? Who will own the company? How will the company be broken down into functional areas?
b. How will your company be funded initially? How will your company sustain its financing?
c. What is your company’s “exit strategy” (e.g. sale, buyout, IPO)? Why would this be a profitable exit strategy?
a. Briefly define the market you will be operating in? Describe the history of the market?
b. What are your customer needs; where are they, and how will you reach them?
c. What groups you will be competing with and how will you compete?
d. How will you promote your product?
a. Include a timeline of the different stages of your product being implemented? For example, when will the product be completed, when will you start marketing, when will you make your first sale, first product upgrade, etc?
b. How will your sales staff be organized?
a. One paragraph on why I as a potential investor should believe in your company and/or product.