Are you the next great tech startup founder? You may have a great idea, but investors, partners, and even employees may not see your vision without a well-written business plan. Here are six tips to keep in mind if you’re planning on writing a tech startup business plan.
1. Write Your Executive Summary First
In this section of the tech startup business plan, you will want to include a general company overview and goal for your company. You can also discuss any challenges the company may encounter and how you plan to overcome them.
The executive summary section of the tech startup business plan should be a teaser for the entire business plan and help your readers understand what the rest of the document will discuss.
2. Follow up with a Business Summary
In the business summary section of your tech startup business plan, you will describe what the company will do. Stick to the high points and provide a broad view that shows investors or other readers what your company will do and why it will be successful.
3. Include a Description of the Company’s Target Market
If you are planning on developing new technology for product X, then you should include a description of product X and how your tech startup business plan is going to change its marketing or distribution process.
4. Discuss Your Competitors
If your target market has several competitors, you will want to consider discussing them in the tech startup business plan. Understanding what the competition is doing will allow you to develop a strategy that targets your audience and increases sales.
5. Include Competitive Analysis
This section should be used to show how your product or service will overcome any obstacles presented by the competition. It is important to know what others are doing and what strategies they may use against you as a company.
6. Discuss Your Targeted Market Expansion Goals
If you plan to develop your technology for international distribution, you will want to discuss how your company will do this in the tech startup business plan.