Question

Using all the key features of an IT business plan, prepare an enticing business plan for your IT business idea you hope to turn into a successful company in Ghana, the essay should be more than 1500 words.

Answer 1

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Answer : Business Plan for IT Company in Ghana :-

With so much information to keep track of, it can be easy to get overwhelmed, which is why having a business plan is so important. I've have outlined how to write a business plan for a IT Company, how to format and organize your business plan, what key things you need to add to it, and how to cover all the financial aspects of your business. IT Business plan includes the following:

1. Executive Summary
2. Company Description
3. Market Analysis
4. Organization and Management
5. Service or Product Line
6. Marketing and Sales
7. Funding Request.
8. Financial Projections.
9. Appendix.

1.   Executive Summary : The first part of your IT Company business plan is the executive summary. Think of this as your introduction to whoever will be reading your final product. To make a good first impression, it's important to be concise and interesting, without delving too deep into the details. This is your chance to highlight who your company is, how you expect it to grow, and why your IT Company will ultimately be successful.

Business Objective :

· Providing custom solutions with outstanding customer service.

· Grow company in staffing , so as to accommodate the growing need for services by offering a dynamic work environment with flexible hour.

· Focuses on delivering contracts.

· Achieve healthy earnings in the first year of operation.

· Increase sales modestly but steadily.

Mission : To provide the quality brand Information Technology business ,information solutions, reliable and professional Technical Support, and unparalleled Customer Service to our customers.

2. Company Description : The company description portion of your IT business plan is where you explain the details of your company. This section should describe your IT business and show your reader that it will be a valuable addition to the existing market.

Key things to include in a IT company description:

• What kind of product your IT company will provide?
• Who will be your customers?
• Who will be your clients?
• What is your overall competitive advantage ( your customer service, your creative marketing, etc.)?

3. Market Analysis

The market analysis section of your IT business plan is where you will explain and detail how you'll fit into the existing market. It's important to do extensive research on starting a IT business before writing this section so you can demonstrate your industry and market knowledge by having solid research findings to back up your conclusions.

Key things to include in a IT market analysis:

• What product you will launch in market?
• Which age group will use your product?
• Define the size and growth potential of your target market
• State how you will gain a large percentage of the market share in the geographic area
• Explain your pricing structure?
• Identify your competitors.
• Address any obstacles you may encounter as you start your IT business.

4. Organization and Management

The next step of your IT business plan will be to outline your organization and management plan. Creating a chart that shows the organizational structure of your business is a great way.

Key things to include in a IT organization and management section:

Ownership information:

• Legal structure (Are you forming a partnership or sole proprietor?)
• Full names of the owners
• Percentage of the company each owner holds
• Type of ownership.
• Stock information

Profiles of your management team:

• Full name.
• Position / primary responsibilities.
• Educational background.
• Prior employment and how it relates to his/her position within your company.
• Important experience and skills that will help your business be successful.
• Past track record .
• IT industry recognition.
• Community involvement.
• Salary.

5. Service or Product Line: You will then want to detail your service and product line in the following section of your IT business plan. You will provide the services:

• Application software requirements analysis
• Application for software testing.
• System level integration and testing.

6. Marketing and Sales

The marketing and sales portion of your IT business plan is focused on building customer loyalty. You will need to define your overall marketing and sales strategies.Key things to include in a IT marketing and sales section:

• How do you plan to initially get into the IT market?
• How will you grow your business?
• How will you sale your products?
• How will you reach your customers?
• How many sales are necessary for your IT to be profitable?

7. Funding Request

Not every IT business plan has a funding request section, but it's definitely something to consider including.

Key things to include in a IT funding request:

• How much capital do you really need?
• Do you foresee needing more funding in the future?
• How will you use the funds you are awarded?
• How will you repay your loans?
• What are the potential benefits to an investor if your IT does well?
• How would these funds create new opportunities for your IT?

8. Financial Projections

It's difficult to know what realistic financial projections are when you're starting your IT business from scratch, but in order to allocate funds efficiently, it's important to analyze your target market and set clear financial goals. If your business has already been in operation for a few years, this is the section of the IT business plan where you'd include historical financial data.

9. Appendix

The Appendix section includes:

• Sales Forecast.
• General Assumptions.
• Balance Sheet pro forma.
• Total Capital.
• Total Liabilities.