Business Plan Report: IT Expert Consulting Services, MGT807, July 2019

This report presents a comprehensive business plan for an IT consulting business, named IT Expert, targeting clients in the UK, East, America, and Australia. The business will provide services including channel development, distribution, software development, and marketing. The plan outlines a marketing strategy that uses advertising, partnerships with software and hardware manufacturers, and networking to predict client needs and expand the customer base. The financial plan includes a $1 million capital requirement, with $500,000 from a bank loan and $500,000 from five members' equity contributions. The action plan details evaluations of commission, operations, and income, with sustainable growth projections over three financial years. The plan also considers expanding coverage to new markets and introducing web-centered software and technology integrations. Recommendations include a focus on market analysis, competitive evaluation, and vendor relations to boost business operations.

Entrepreneurship And Innovation - Business Plan
Student’s Name And Code
Institution Affiliation
Date

THE BUSINESS
 Venture into the consulting business i.e. IT-Expert
 Serves customers from Far UK, East, America and
Australia
SERVICES PROVIDED
 Channel development
 Channel distribution
 Software development
 Packaging and marketing.
BUSINESS PLAN SUMMARY

MARKETING
 Use of advertising, which is a critical marketing
technique in consulting business
 Involving data technology manufacturers of software
and hardware, networking and services
MARKETING AND OPERATIONAL
STRATEGY

 Enhancement of products and services
 Marketing mix modification
 Distribution channel transformation
 Transition and;
 Enhancing responsiveness
MARKETING AND MODIFICATION
VARIABLES

IT Expert Intends to:
 Invest its time and efforts to predict and forecast the needs
of clients by targeting its customers.
 Embrace innovative marketing chances.
 Start its approaches to meeting the needs of its consumers
and considerably expanding its client’s base.
 Evaluate the rate of competing, which appears in various
forms
 Contact vendors, channels, and alliances for the purpose of
collecting information and initiating contact to boost the
business operations.
CUSTOMER AND MARKET FOCUS

REQUIRED CAPITAL
 $1000,000
 The annuity loan of $500,000, which will be taken
from the bank,
 The amount will complement the available $500,000 to
make it a million dollars
 Five members will each provide $200,000 as an
equitable contribution to complement the loaned
$500,000
FINANCIAL PLAN

 Involves high set-up costs evaluation.
 Select a collateral for the venture upon reaching a
sustainable and profitable stage.
 Consider the development of the general traffic obtain
from social media platform and the company’s website.
ACTION PLAN FIRST FINANCIAL
YEAR

 Evaluate its commission, operations and income
 Assume that the business venture has achieved a
sustainable growth dimension
 Consider diffusing in the competitive market
 Consider an evaluation of the growth rate in the first
year, second and third years, which sustainability
growth is assured.
ACTION PLAN SECOND AND THIRD
FINANCIAL YEAR

In future, the new business purposes to:
 Expand its coverage to interior markets like Western
Europe, the entire region of Latin America, Australia
and Western Europe.
 Introduce the web-centered software, technology
integrations and telecommunications
RECOMMENDATION