technology consulting business plan

How to write a business plan for a technology consulting company?

Creating a business plan for a technology consulting company is an essential process for any entrepreneur. It serves as a roadmap that outlines the necessary steps to be taken to start or grow the business, the resources required, and the anticipated financial outcomes. It should be crafted with method and confidence.

This guide is designed to provide you with the tools and knowledge necessary for creating a technology consulting company business plan, covering why it is so important both when starting up and running an established business, what should be included in your plan, how it should be structured, what tools should be used to save time and avoid errors, and other helpful tips.

We have a lot to cover, so let's get to it!

In this guide:

Why write a business plan for a technology consulting company?

What information is needed to create a business plan for a technology consulting company.

• What goes in the financial forecast for a technology consulting company?
• What goes in the written part of a technology consulting company business plan?
• What tool can I use to write my technology consulting company business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a technology consulting company business plan is so crucial.

To have a clear roadmap to grow the business

It's rarely business as usual for small businesses. The economy follows cycles where years of growth are followed by recessions, and the business environment is always changing with new technologies, new regulations, new competitors, and new consumer behaviours appearing all the time...

In this context, running a business without a clear roadmap is like driving blindfolded: it's dangerous at best. That's why writing a business plan for a technology consulting company is essential to create successful and sustainable businesses.

To write an effective business plan, you will need to take stock of where you are (if you are already in business) and where you want the business to go in the next three to five years.

Once you know where you want your technology consulting company to be, you'll have to identify:

• what resources (human, equipment, and capital) are needed to get there,
• at what pace the business needs to progress to get there in time,
• and what risks you'll face along the way.

Going through this process regularly is beneficial, both for startups and existing companies, as it helps make informed decisions about how best to allocate resources to ensure the long-term success of the business.

To get visibility on future cash flows

If your small technology consulting company runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your technology consulting company's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your technology consulting company business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your technology consulting company's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

Whether you are a startup or an existing business, writing a detailed technology consulting company business plan is essential when seeking financing from banks or investors.

This makes sense given what we've just seen: financiers want to ensure you have a clear roadmap and visibility on your future cash flows.

Banks will use the information included in the plan to assess your borrowing capacity (how much debt your business can support) and your ability to repay the loan before deciding whether they will extend credit to your business and on what terms.

Similarly, investors will review your plan carefully to assess if their investment can generate an attractive return on investment.

To do so, they will be looking for evidence that your technology consulting company has the potential for healthy growth, profitability, and cash flow generation over time.

Now that you understand why it is important to create a business plan for a technology consulting company, let's take a look at what information is needed to create one.

Writing a technology consulting company business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a technology consulting company

Before you begin writing your business plan for a technology consulting company, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your technology consulting company.

You might find that more companies are shifting to cloud-based technology solutions, so you may want to consider offering cloud consulting services. Additionally, you could discover that many businesses are looking to invest in technologies that automate manual processes, so you might want to consider consulting services related to automation.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your technology consulting company.

Developing the marketing plan for a technology consulting company

Before delving into your technology consulting company business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and capital expenditure requirements of a technology consulting company

Whether you are starting or expanding a technology consulting company, it is important to have a clear plan for recruitment and capital expenditures (investment in equipment and real estate) in order to ensure the success of the business.

Both the recruitment and investment plans need to be coherent with the timing and level of growth planned in your forecast, and require appropriate funding.

Staffing costs for a technology consulting company might include salaries for software engineers, systems administrators, and IT consultants, as well as costs associated with recruiting, onboarding, and training new employees. Equipment costs for a technology consulting company might include the purchase of computers, servers, software licenses, and other tools needed to perform services like cloud computing, application development, and network security.

In order to create a realistic financial forecast, you will also need to consider the other operating expenses associated with running the business on a day-to-day basis (insurance, bookkeeping, etc.). 

Once you have all the necessary information to create a business plan for your technology consulting company, it is time to start creating your financial forecast.

What goes into your technology consulting company's financial forecast?

The objective of the financial forecast of your technology consulting company's business plan is to show the growth, profitability, funding requirements, and cash generation potential of your business over the next 3 to 5 years.

The four key outputs of a financial forecast for a technology consulting company are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a technology consulting company shows how much revenue and profit your business is expected to make in the future.

A healthy technology consulting company's P&L statement should show:

• Sales growing at (minimum) or above (better) inflation
• Stable (minimum) or expanding (better) profit margins
• A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established technology consulting company.

The projected balance sheet of your technology consulting company

The balance sheet for a technology consulting company is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

• Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
• Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your technology consulting company's liquidity and solvency:

• Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
• Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your technology consulting company's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The projected cash flow statement

A cash flow forecast for a technology consulting company shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your technology consulting company business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a technology consulting company.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

Having this table helps understand what costs are involved in setting up the technology consulting company, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a technology consulting company business plan is understood, let's focus on what goes into the written part of the plan.

The written part of a technology consulting company business plan

The written part of a technology consulting company business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

In your technology consulting company's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your technology consulting company, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

As you build your technology consulting company business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your technology consulting company, you may want to emphasize the potential and opportunity that the area has to offer. You could point to its access to major transportation hubs, its well-developed infrastructure, and its proximity to sources of talent, such as universities and research centers. You could also emphasize the potential for growth and the availability of resources, both in terms of physical infrastructure and the local business climate. You may also want to highlight the potential for networking and collaboration opportunities that the area may offer.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of what your company offers, who are the target customers, and what distribution channels are part of your go-to-market. 

For example, your technology consulting company could offer strategic planning services to help customers develop long-term technology goals, IT audit and assessment services to help customers identify areas of opportunity and improvement in their technology infrastructure, and managed services to help customers manage their day-to-day IT operations. These services would help customers make smarter technology decisions, maximize their existing investments, and save time and money.

4. The market analysis

When presenting your market analysis in your technology consulting company business plan, you should detail the customers' demographics and segmentation, target market, competition, barriers to entry, and any regulations that may apply.

The goal of this section is to help the reader understand how big and attractive your market is, and demonstrate that you have a solid understanding of the industry.

You should start with the demographics and segmentation subsection, which gives an overview of the addressable market for your technology consulting company, the main trends in the marketplace, and introduces the different customer segments and their preferences in terms of purchasing habits and budgets.

The target market section should follow and zoom on the customer segments your technology consulting company is targeting, and explain how your products and services meet the specific needs of these customers.

For example, your target market might include small to mid-sized businesses who are looking to develop custom software solutions. These businesses may have limited in-house IT staff, and need to outsource some of their technology needs. Additionally, these businesses may need help with improving their overall IT infrastructure, such as system maintenance and security.

Then comes the competition subsection, where you should introduce your main competitors and explain what differentiates you from them.

Finally, you should finish your market analysis by giving an overview of the main regulations applicable to your technology consulting company.

5. The strategy section

When crafting the strategy section of your business plan for your technology consulting company, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your technology consulting company could face the risk of a data breach. If customer data is not properly secured, malicious actors may be able to gain access to sensitive information, potentially leading to financial losses or reputational damage. Additionally, your company could face the risk of a major project failure. If a project is not managed properly, the timeline, budget, and quality of the work could suffer, resulting in unhappy customers who may choose to take their business elsewhere.

6. The operations section

The operations of your technology consulting company must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your technology consulting company - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You may have key assets such as experienced personnel and proprietary technology. For example, your personnel may have expertise in areas such as artificial intelligence, blockchain, and cloud computing. Your proprietary technology could include customized software solutions or a suite of industry-specific applications. Additionally, your company may have intellectual property such as trademarks, trade secrets, patents, and copyrights. This IP could be used to protect the uniqueness of your products and services from competitors.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we discussed earlier in this guide.

Now that you have a clear idea of what goes into a technology consulting company business plan, let's look at some of the tools you can use to create yours efficiently.

What tool should I use to write my technology consulting company's business plan?

In this section, we will be reviewing the two main solutions for creating a technology consulting company business plan:

• Using specialized online business plan software,
• Outsourcing the plan to the business plan writer.

Using an online business plan software for your technology consulting company's business plan

The modern and most efficient way to write a technology consulting company business plan is to use business plan software .

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your technology consulting company's business plan

Outsourcing your technology consulting company business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your technology consulting company business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your technology consulting company's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a technology consulting company business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my technology consulting company business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

• Word processors don't include instructions and examples for each part of your business plan
• Word processors don't update your numbers automatically when they change in your forecast
• Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a technology consulting company business plan for some entrepreneurs, it is by far not the best or most efficient solution.

• Having an up-to-date business plan is key to maintaining visibility on your future cash flows.
• A business plan has 2 parts: a financial forecast highlighting the expected growth, profitability and cash generation of the business; and a written part which provides the context needed to interpret and assess the quality of the forecast.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this guide helped you to better understand how to write the business plan for a technology consulting company. If you still have questions, do not hesitate to contact us.

Also on The Business Plan Shop

• How to write a 5 years business plan
• Business plan myths

Know someone who owns or wants to start a technology consulting company? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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BUSINESS STRATEGIES

How to create a consultant business plan

• Nirit Braun
• Oct 30, 2023
• 12 min read

When launching your consulting business, one of the essential first steps is crafting a well-structured and detailed business plan. Your consulting business plan is like a strategic playbook that lays out your goals, tactics and financial projections. It not only steers you toward success but also equips you to adapt and thrive in the dynamic world of consulting.

Keep reading for tips on how to build a strong business plan for your business. Use the template provided at the end to get started on your own plan.

Looking to kick off your consultancy business? Create a business website today with Wix.

Why create a consultant business plan? Top benefits to consider

A business plan forces entrepreneurs to thoroughly evaluate their business idea, target audience and competitive landscape. This process clarifies their vision and mission, ensuring that they have a clear understanding of how their consultancy will provide value to clients. A business plan helps you in the following ways:

Create a business blueprint : With a business plan in place, entrepreneurs looking to start a business can make informed decisions based on a solid foundation of research and analysis. They can choose the most effective strategies for marketing, pricing and service delivery, enhancing their chances of success. Your business plan can also be used to explain what type of business you'll start - whether that's an LLC, Corporation or something else. Learn more about how to start an LLC .

Secure funding : The cost to start a consultancy business can range from around $60 to several thousand dollars . For those seeking external funding, a well-developed business plan demonstrates credibility and professionalism. Investors and lenders are more likely to support a venture with a thought-out plan that showcases its potential for growth and profitability.

Set measurable goals : A business plan sets measurable goals and performance metrics, which is vital with this type of business . This allows entrepreneurs to track their progress, adapt strategies as needed and celebrate milestones along the way.

Want to remind yourself of the basics? Learn more about how to start a service business .

How to create a successful consultant business plan in 6 steps

In this section, we'll break down the key components involved in crafting a successful consultant business plan in six steps.

Executive summary

Business and domain names

Market analysis and research

Operations plan

Marketing and advertising plan

Financial plan

01. Executive summary

An executive summary serves as a concise overview of the consultant's business plan, providing a snapshot of the key components and the business' essence. It's usually the first section investors, lenders and stakeholders read, so it must encapsulate the business' value proposition, objectives, strategies and projected growth. To write a clear executive summary for a consultant business make sure to keep it succinct yet informative. Clearly state the purpose of the business, the services offered, the target market and the unique value proposition. Avoid technical jargon that may confuse readers.

Then you can mention the business' strengths, such as the expertise of the consultants, unique methodologies or specialized services. Emphasize factors that set your consultancy apart from competitors.

Briefly discuss the market need for your services and how your consultancy plans to fulfill it. It’s worth noting that strategy and management consulting, as well as technology consulting, financial consulting and HR consulting are in high demand . Highlight any trends or changes in the industry that your business can capitalize on.

Remember to include a snapshot of your financial projections, indicating expected revenue, costs and profitability. This provides a glimpse into the business' potential financial success.

Example of an executive summary for a consultant business

"XYZ Consulting is a boutique consultancy firm specializing in digital transformation for small and medium-sized enterprises (SMEs). With a team of seasoned professionals, we offer tailored solutions to help businesses harness the power of technology for growth. Our unique approach blends strategic consulting with hands-on implementation, ensuring tangible results. In a rapidly evolving tech landscape, XYZ Consulting is poised to be the partner SMEs need to thrive. Our financial projections forecast a steady growth trajectory, with a focus on achieving profitability within the first two years. With a proven track record and a finger on the pulse of industry trends, XYZ Consulting is well-equipped to guide businesses toward digital success."

02. Business and domain names

Knowing how to name a business is crucial for a consultancy venture and a key step before you register your business . It's the foundation of your brand and influences how clients perceive your services. With Wix , you can use a free business name generator or consulting company name generator as helpful tools for brainstorming unique and memorable names. Ensure the name reflects your expertise and the services you offer.

Similarly, the domain name for your business website is vital. It should be easy to remember, relevant to your services and ideally, match your company name. Check the domain's availability using domain registration platforms. Ensure the domain name aligns with your consultancy's focus and services. Generally, this means keeping it short and easy to spell and pronounce.

Learn more: How to make a consulting website

03. Market analysis and research

Incorporating a thorough market analysis within your consultant business plan is essential. Understand the competitive landscape, target audience and market trends. Research your competitors' strengths and weaknesses, pricing strategies and client base. This information will shape your business strategies and help you identify gaps in the market that your consultancy can fill.

04. Operations plan

The operations plan outlines the logistical aspects of your consultancy. It covers location, premises, equipment and staffing requirements. Determine whether your consultancy will be home-based, have a physical office or operate virtually. Define the equipment and software needed to deliver services effectively. Outline your staffing needs, including the roles and expertise required.

05. Marketing and advertising plan

Your marketing and advertising plan outlines how you will promote your consultant business. Identify the most effective strategies to reach your target audience. Consider content marketing, social media campaigns, networking events and speaking engagements to showcase your expertise. Emphasize how your marketing efforts will build brand awareness and attract clients.

You’ll need to develop a suite of brand assets to use in your marketing as well, starting with a company logo. You can use a free logo maker to get a professional logo in minutes.

06. Financial plan

The financial plan is a critical component of any business plan. It outlines how you will raise money for your business initially and provides a timeline for reaching profitability. Detail your startup costs, including equipment, marketing expenses and personnel. Present your revenue projections, taking into account different pricing models and growth scenarios. Highlight your break-even point and the strategies you'll employ to achieve profitability.

By addressing each part of their plan, entrepreneurs can create a robust business plan that guides them toward achieving their business goals and building a reputable consulting brand.

Consultant business plan examples

These templates illustrate two hypothetical consultant business plans, each tailored to a specific niche. These are just templates and should be adapted to your specific business goals and industry dynamics.

Consultant business plan template 1: XYZ Digital Consultants

XYZ Digital Consultants is a pioneering consultancy firm focused on digital transformation for businesses seeking to thrive in the digital age. Our team of experienced professionals offers strategic guidance and hands-on implementation to drive growth through technology adoption. With projected profitability within two years and a commitment to excellence, XYZ Digital Consultants is poised to lead businesses into a successful digital future.

Company and domain name

Company name: XYZ Digital Consultants

Domain name: xyzdigitalconsultants.com

Market opportunity: The rapid shift toward digital operations has created a substantial demand for expert guidance. Our analysis reveals a gap in the market for holistic digital transformation solutions tailored to the needs of SMEs.

Competitor research: We've identified key competitors and their strengths, which informs our strategy to emphasize personalized service and comprehensive implementation.

Location: Primarily virtual, with occasional in-person consultations as needed.

Premises: Home-based setup with access to modern communication tools.

Equipment: High-speed internet, latest software tools and virtual meeting platforms.

Staffing: Founder and lead consultant, supported by contract specialists as projects demand.

Content marketing: Regular blog posts on digital transformation trends, case studies and client success stories.

Social media campaigns: Active presence on LinkedIn and X to engage with potential clients and share valuable insights.

Networking events: Participation in industry webinars, seminars and local business events to showcase expertise.

Speaking engagements: Leveraging speaking opportunities at conferences and workshops to establish authority in the field.

Startup costs (equipment, website development, marketing materials): $15,000

Revenue projections (year one): $150,000

Revenue projections (year two) : $300,000

Break-even point: Achieved by the end of year one

Funding: Initial investment and savings from the founder

Consultant business plan template 2: LeadersEdge Consultants

LeadersEdge Consultants is a dynamic consultancy dedicated to leadership development and organizational excellence. Our experienced team offers customized programs that empower leaders to drive positive change. With a projected growth trajectory and a commitment to fostering impactful leadership, LeadersEdge Consultants is poised to transform organizations and elevate their success.

Company name: LeadersEdge Consultants

Domain name: leadersedgeconsultants.com

Market opportunity: Our analysis reveals a growing need for leadership development programs in diverse industries.

Competitor research: We've identified competitors' offerings and recognized an opportunity to provide a unique blend of coaching, training and strategy implementation.

Location: Virtual consultations, with the option for on-site workshops

Premises: Virtual office setup with video conferencing capabilities

Equipment: High-quality audiovisual tools, assessment software and learning platforms

Staffing : Founder will serve as the lead consultant, supported by certified leadership coaches

Customized workshops: Designing tailored leadership development programs for individual organizations.

Webinars: Hosting webinars on leadership best practices to showcase expertise and engage potential clients.

Thought leadership content: Publishing whitepapers, eBooks and video content on leadership topics.

Collaborations: Partnering with HR and talent development professionals to expand reach.

Startup costs ( making a website , training materials) : $10,000

Revenue projections (year one): $120,000

Revenue projections (year two): $250,000

Break-even point: Achieved within the first six months

Funding: Initial investment from the founder.

How much should you be charging as a consultant?

The amount you charge as a consultant will depend on a number of factors, including:

Your experience and expertise

The type of consulting services you offer

The value you provide to your clients

The market rate for consulting services in your field

In general, consultants charge between $100 and $500 per hour. However, some experienced and highly specialized consultants can charge upwards of $1,000 per hour.

To determine your consulting rate, you can use the following formula:

Consulting rate = Hourly rate * Value multiplier

Your hourly rate should reflect your experience and expertise, as well as the type of consulting services you offer. For example, if you have 10 years of experience and you offer specialized consulting services, you can charge a higher hourly rate than a consultant with less experience and who offers more general consulting services.

Your value multiplier should reflect the value you provide to your clients. For example, if you can help your clients to achieve significant results, you can charge a higher value multiplier.

Here is an example of how to use the formula:

Consultant: Experienced consultant with 10 years of experience offering specialized consulting services

Hourly rate: $200 per hour

Value multiplier: 2

Consulting rate: $200 per hour * 2 = $400 per hour

Can a consulting business be profitable?

Yes, a consulting business can be profitable. In fact, consulting is one of the most profitable industries in the world. According to a report by IBISWorld, the average profit margin for consulting businesses is 20%. This means that for every $100 in revenue, consulting businesses generate $20 in profit.

There are a number of factors that contribute to the profitability of consulting businesses. First, consultants are able to charge high fees for their services. Second, consulting businesses have relatively low overhead costs. Third, the demand for consulting services is high, and it's only expected to grow in the coming years.

Of course, not all consulting businesses are successful. Some consultants struggle to find clients or to charge high enough fees. Others may not be able to deliver the results that their clients expect. However, for consultants who are able to overcome these challenges, the potential rewards are great.

Here are some tips for increasing your chances of success as a consultant:

Specialize in a high-demand area of consulting. This will allow you to charge higher fees and attract more clients.

Build a strong reputation and network of clients. This will help you to generate word-of-mouth referrals and land new clients.

Market your services effectively. Make sure that potential clients know about your services and how you can help them.

Deliver high-quality results. This is the most important thing you can do to ensure that your clients are satisfied and that they continue to use your services in the future.

How much does it cost to start a consulting business?

The cost to start a consulting business can vary depending on a number of factors, such as the type of consulting services you offer, the size of your business and your location. However, in general, you can expect to spend between $10,000 and $50,000 to start a consulting business.

Here is a breakdown of some of the typical start-up costs for a consulting business:

Business formation: $100 to $1,000

Website and domain name: $100 to $2,500

Marketing and advertising: $500 to $5,000

Office equipment and supplies: $500 to $5,000

Professional liability insurance: $500 to $1,000

Other miscellaneous expenses: $500 to $5,000

Total start-up costs: $10,000 to $50,000

You can reduce your start-up costs by working from home, using free or low-cost marketing tools and purchasing used equipment. You can also start your consulting business part-time while you continue to work your full-time job. This will give you a chance to generate revenue and build a client base before you leave your full-time job.

If you need financial assistance to start your consulting business, you may be able to qualify for a loan from a bank or credit union. You may also be able to find investors who are willing to invest in your business.

Which clients to avoid and which to take on?

Here are some tips on which clients to avoid and which to take on in a consulting business:

Clients to avoid

Clients who aren't willing to pay your rates. If a client isn't willing to pay your rates, it's a sign that they don't value your services.

Clients who are unrealistic about their expectations. If a client has unrealistic expectations about what you can achieve, you're likely to set yourself up for failure.

Clients who are difficult to work with. If a client is demanding, rude or disrespectful, it's best to avoid them.

Clients who aren't a good fit for your business. If a client isn't in your target market or if their business isn't aligned with your values, it's best to decline working with them.

Clients to take on

Clients who are willing to pay your rates. This shows that they value your services and are committed to working with you.

Clients who have realistic expectations. This makes it more likely that you will be able to meet their needs and exceed their expectations.

Clients who are easy to work with. This will make the consulting process more enjoyable and productive for both of you.

Clients who are a good fit for your business. This means that they're in your target market and that their business is aligned with your values.

In addition to the above, here are some other factors to consider when deciding which clients to take on:

Your own skills and experience. Make sure that you have the skills and experience to help the client achieve their goals.

The client's budget. Make sure that the client has a budget that's sufficient to cover your fees.

The client's timeline. Make sure that you have the time and resources to meet the client's timeline.

Your gut feeling. If you have a bad feeling about a client, it's best to trust your gut and decline working with them.

It's important to be selective about the clients you take on. By avoiding difficult clients and focusing on good-fit clients, you can set yourself up for success in your consulting business.

Consultant business plan FAQ

What qualifies you as a consultant.

To qualify as a consultant, you need to have the expertise and experience in the area that you're consulting in. You also need to be able to communicate your ideas effectively and build relationships with clients.

How do you start off as a consultant?

How to make 6 figures as a consultant, how do you pay yourself as a consultant, do consultants pay their own taxes, want to create another business plan.

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Automate Your Consultancy

How to write an it consulting business plan in 8 steps.

The COVID-19 pandemic has rapidly transformed the world of IT consulting. Economic uncertainty, paired with an increased amount of freelance and small specialized consultancies, has resulted in a highly competitive environment. The good news for IT consultants is that their specific services are still in high demand. However, in an increasingly competitive landscape, it’s essential that IT consultants consolidate an in-depth business plan before launching. A well-structured plan must include growth, pay rates, expenses, marketing, equipment costs, training and qualifications, and technology. Like all businesses, you need to get started on the right foot. Here’s how!

Automation Benefits for Consultants

How to Write an IT Consulting Business Plan

Typically, business plans need to be written with banks and investors at top-of-mind, and small businesses generally need start-up funding to get up and running. When writing a business plan for your consultancy, you want to land on something in the middle.

Although consultants setting up their own business might not need much funding, it’s still essential to include in-depth financial components in your business plan – not only to clarify your business’s finances but also to help you understand your business’s potential risks and rewards.

A good business plan will combine elements of both finance and strategy. You may not necessarily need funding for capital equipment expenses or office rent, but you might need a loan to tide you over for the first few months until you have a regular cash flow. You may also decide that you want to make more of an impression by hiring office space, perhaps in a shared office environment. Or you might require funds to spend on marketing and advertising – which is particularly important in the highly competitive IT space. Whether you intend to apply for a bank loan, look for grants, or crowdfunding, it’s important your chosen method includes a solid estimation of what you need to grow strategically.

1. Identify the target market and sector analysis for your consulting businsess

A target market is the pool of customers to whom you want to sell your services, and it’s only made up of the people who are a good fit for your business. Basically, you want to figure out which fish in the ocean you will focus on catching. Establishing a target market will help you realize that you can’t market to everyone, and you shouldn’t waste your time, money, or resources trying to do so. There’s a famous marketing quote by Seth Godin, “When you speak to everyone, you speak to no one”. Make sure you are speaking to the right people.

​​Take time to assess your new target market analysis while deciding on your consultancy pricing ranges. You could use the market data to adjust your consultancy price points to suit your potential customers better. You will also need to distinguish who your customers are and where to find them – in the form of target market segmentation. Once you’ve gathered all the relevant information you can about your customers, you can then make a plan to market to them.

2. Define your consulting business objectives and USP (unique selling proposition)

A USP (unique selling proposition) summarizes what makes your business unique and valuable to your target market. It answers the question: How do your business services benefit your clients better than anyone else can? A USP can provide a great deal of clarity to your business plan, defining your most important business goals in one powerful sentence. Also, be sure to outline your business objectives – specific steps you need to take to fulfill your goals.

3. Estimate and plan startup expenses and assets, including equipment

Like your business plan, estimating your startup costs is part of building a roadmap for your business . Having even a rough estimate can help you avoid unnecessary risks and stay on track during more volatile months. Consider your start-up expenses and assets. Depending on whether you are setting up a remote or in-person consulting business, you will need to take into account the expense.

Expense considerations when starting a Consulting Business

• FF & E (Furniture Fixtures and Equipment)
• Leasehold Improvements
• Initial Marketing Plan/launch
• Legal / Consulting
• Miscellaneous

4. Forecast overheads and fixed costs

Fixed costs are fairly predictable and fixed overhead costs are necessary to keep a company operating smoothly. Profit margins should reflect the costs of fixed overhead, which can include:

• Office rental
• Licenses for software and technology

5. Develop a marketing strategy and budget

Establishing a cohesive marketing strategy is an important component of launching your consulting business. This includes establishing your brand, determining your target audience, creating a professional website, investing in social media marketing, search marketing, and developing a strong professional network. Many businesses make basic mistakes when budgeting for marketing that lead to wasted money and missed opportunities, so it’s important to strategically determine your marketing spend , funding requirements, loan collateral and cost of interest.

Lenders want to understand the roadmap you have in place for your business. You’ll need to be ready to answer questions about your business model, sources of revenue, growth forecasts, and initial startup costs. They need to see that your business is viable and that you’ve thoroughly explored what it will take to start, operate and grow.

Having realistic startup costs laid out is a necessity in this case. And being able to show how you believe expenses will change or remain similar over time will give them a better idea of how you intend to manage your business.

6. Include pay rates, revenue and cash flow projections

Ignoring the books makes you susceptible to cash deficits. To prevent this from occurring, pay attention to your balance sheet , which lets you know how much you own and what you owe. On the assets side are your short-term or “current” assets  plus long-term or “fixed” assets. Also be sure to pay attention to your shareholders’ equity which represents the amount of money shareholders have invested into the business through investments and the cumulative profits you have reinvested in your business via retained earnings. Cash flow projections are another important area of finances that you will need to pay attention to. They are a great way of predicting future cash flows (and cash stagnations). With projections, you can plan ahead to avoid any future stunts in cash flow, and help you time your spending decisions.

7. Forecast sales in monthly intervals

Sales forecasts in monthly intervals will help you understand the future needs of your business – and allow you to fine-tune predictions accordingly. Monthly forecasts may come in the form of production forecasts, profit forecasts, balance sheet forecasts or sales forecasts for a 30-day period, in which you predict performance data for your business for the next month, or any future months. Services businesses can be particularly susceptible to revenue swings. The more predictable you can make your revenue the better.

8. Include growth projections and strategy

A concrete growth strategy is crucial to the future success of your consulting business. Without one, you are susceptible to the perils of a constantly changing consumer base and unpredictable market fluctuations. Execute on the following to determine your strategy:

• Choose your targeted area of growth
• Invest in, or conduct market and industry research
• Set growth goals, plan your course of action
• Determine your growth tools and requirements
• Execute on your plan

Set your consulting business up for success with a great USP, the right technology and a bulletproof business plan

With the increased acceleration of digital disruption in 2021, your IT consulting business plan should show that you are up-to-date with technological developments and digitalization. With virtually every consulting firm incorporating a digital layer in its offering , it’s essential that you weave your digital offerings into both your objectives and USP. Providing digital offerings will also bolster your chance of receiving adequate funding. Alongside a killer business plan, it’s essential that consultants also include the best digital transformation tools in their arsenal – to ensure future success. Technology like Olive, can be a vital differentiator in an often crowded market. To remain competitive, consultants must develop coping skills to deal with and adapt to the fast-evolving digital and technology market. Today’s business strategy is technology-enabled, consultants need to leverage technology to inform strategy instead of the reverse. When technology is used correctly, it can help consultants achieve their business goals and plan for future success.

For consultants, leveraging the benefits of digital transformation requires creating a strategy, getting the input of stakeholders, and deeply understanding business needs. Consultants with the right tools will deliver more with less effort and will see their clients reap the benefits. Olive aims to help consultants digitize their process and release time to build a successful business.

A tool created to help consultants manage and automate the software selection process, Olive allows IT, consultants, to streamline the technology evaluation process and facilitates agile collaboration with key stakeholders. Olive gives consultants an easy way to collect data and requirements from stakeholders. By offering end-to-end digital transformation services with Olive, you can take on more clients and capitalize on digital transformation trends.

Writing – and successfully executing a consulting business plan – is no easy feat. However, with planning, strategy, and foresight – you will have a clear advantage over less-prepared competitors. Utilizing the right automation technology alongside a strategic business plan offers a guaranteed avenue to success – and a better likelihood of building a business ready for a post-pandemic world.

Scale and Grow Your IT Consulting Business

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IT Consulting Business Plan

The increasing use of AI and Automation and the rising remote & hybrid work culture have revolutionized the IT consulting industry. The demand for IT consultants is like never before.

Starting and managing an IT consulting firm may involve loads of hard work and a bit of risk, but the benefits are well worth it.

And having a well-prepared business plan could make things a lot easier for you to get started.

Need help writing a business plan for your IT consulting business? You’re at the right place. Our IT consulting business plan template will help you get started.

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

• Fill in the blanks – Outline
• Financial Tables

How to Write an IT Consulting Business Plan?

Writing an IT consulting business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section planned to offer an overview of the entire business plan. However, it is written after the entire business plan is ready and summarizes each section of your plan.

Here are a few key components to include in your executive summary:

Introduce your business:

• This section may include the name of your IT consulting, its location, when it was founded, the type of IT consulting business (E.g., cybersecurity consulting, cloud computing consulting, IT project management consulting.), etc.

Market opportunity:

Product and services:.

• For instance, you may provide services, like IT governance & risk management, cybersecurity services, data analytics, and business intelligence, etc.

Marketing & sales strategies:

Financial highlights:, call to action:.

Ensure your executive summary is clear, concise, easy to understand, and jargon-free.

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2. Business Overview

The business overview section of your business plan offers detailed information about your company. The details you add will depend on how important they are to your business. Yet, business name, location, business history, and future goals are some of the foundational elements you must consider adding to this section:

Business description:

Describe your business in this section by providing all the basic information:

• Technology strategy consulting
• Cybersecurity consulting
• IT outsourcing consulting
• Cloud computing consulting
• IT infrastructure consulting
• IT project management consulting
• Describe the legal structure of your consulting company, whether it is a sole proprietorship, LLC, partnership, or others.
• Explain where your business is located and why you selected the place.

Mission statement:

Business history:.

• Additionally, If you have received any awards or recognition for excellent work, describe them.

Future goal:

This section should provide a thorough understanding of your business, its history, and its future plans. Keep this section engaging, precise, and to the point.

3. Market Analysis

The market analysis section of your business plan should offer a thorough understanding of the consulting industry with the target market, competitors, and growth opportunities. You should include the following components in this section.

Target market:

• For instance, You may target SMEs, startups, non-profits, healthcare organizations, and financial institutions if you provide IT consulting services.

Market size and growth potential:

• You may include statistics and information like the number of SMEs and startups in any particular industry if you target a niche market.

Competitive analysis:

Market trends:.

• For instance, there is a growing trend toward cloud computing and digital transformation. More and more businesses are embracing cloud technologies. Describe your plans for dealing with this.

Regulatory environment:

Here are a few tips for writing the market analysis section of your IT services business plan:

• Conduct market research, industry reports, and surveys to gather data.
• Provide specific and detailed information whenever possible.
• Illustrate your points with charts and graphs.
• Write your business plan keeping your target audience in mind.

4. Products And Services

The product and services section should describe the specific services and products that will be offered to customers. To write this section should include the following:

Describe your services:

Mention the consulting services your business will offer. This list may include services like,

• IT outsourcing and vendor management
• Digital transformation services
• IT project management
• Software development & integration
• IT infrastructure services
• Cloud computing services

Describe each service:

Partnerships & alliances:, additional services:.

In short, this section of your IT consulting plan must be informative, precise, and client-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Unique selling proposition (USP):

• For example, a proven track record, responsive and timely service, and specialized expertise could be some of the great USPs for a professional IT consultancy.

Pricing strategy:

Marketing strategies:, sales strategies:.

• Include any sales training or workshops you provide to your sales team.

Customer relationship management:

Overall, this section of your IT consulting or tech support business plan should focus on customer acquisition and retention.

Have a specific, realistic, and data-driven approach while planning sales and marketing strategies for your IT consulting business, and be prepared to adapt or make strategic changes in your strategies based on feedback and results.

6. Operations Plan

The operations plan section of your business plan should outline the processes and procedures involved in your business operations, such as staffing requirements and operational processes. Here are a few components to add to your operations plan:

Staffing & training:

Operational process:.

• Your operational processes may include customer relationship management, project management, personnel management, service delivery, business development, administrative and operational tasks, etc.

Quality assurance:

Adding these components to your operations plan will help you lay out your business operations, which will eventually help you manage your business effectively.

7. Management Team

The management team section provides an overview of your IT consulting business’s management team. This section should provide a detailed description of each manager’s experience and qualifications, as well as their responsibilities and roles.

Founder/CEO:

Key managers:.

• It should include key executives(e.g. COO, CMO.), IT consultants, and other department managers (e.g. operations manager, project manager.) involved in the business operations, including their education, professional background, and any relevant experience in the consulting industry.

Organizational structure:

Compensation plan:, advisors/consultants:.

• So, if you have any advisors or consultants, include them with their names and brief information about their roles and years of experience.

This section should describe the key personnel for your IT consulting services, highlighting how you have the perfect team to succeed.

8. Financial Plan

Your financial plan section should summarize the business’s financial projections for the first few years. Here are some key elements to include in your financial plan:

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:.

• This exercise will help you understand how much revenue you need to generate to sustain or be profitable.

Financing needs:

Be realistic with your financial projections, and make sure you offer relevant information and evidence to support your estimates.

9. Appendix

The appendix section of your plan should include any additional information supporting your business plan’s main content, such as market research, legal documentation, financial statements, and other relevant information.

• Add a table of contents for the appendix section to help readers easily find specific information or sections.
• In addition to your financial statements, provide additional financial documents like tax returns, a list of assets within the business, credit history, and more. These statements must be the latest and offer financial projections for at least the first three or five years of business operations.
• Provide data derived from market research, including stats about the IT consulting industry, user demographics, and industry trends.
• Include any legal documents such as permits, licenses, and contracts.
• Include any additional documentation related to your business plan, such as product brochures, marketing materials, operational procedures, etc.

Use clear headings and labels for each section of the appendix so that readers can easily find the necessary information.

Remember, the appendix section of your IT consulting business plan should only include relevant and important information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

This sample IT consulting business plan will provide an idea for writing a successful IT consulting plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready business plan to impress your audience, download our IT consulting business plan pdf .

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Frequently asked questions, why do you need an it consulting business plan.

A business plan is an essential tool for anyone looking to start or run a successful IT consulting business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your IT consulting company.

How to get funding for your IT consulting business?

There are several ways to get funding for your IT consulting business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your IT consulting business?

There are many business plan writers available, but no one knows your business and ideas better than you, so we recommend you write your computer consulting business plan and outline your vision as you have in your mind.

What is the easiest way to write your IT consulting business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any IT company business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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IT CONSULTING BUSINESS PLAN: Template & All You Need

• by Folakemi Adegbaju
• August 10, 2023
• No comments
• 7 minute read

Table of Contents Hide

What is an it consulting business plan, why do you need an it consulting business plan, #1. executive summary, #2. company overview, #3. industry analysis, #4. customer analysis, #5. competitive analysis, #6. management team, #7. marketing plan, #8. financial plan, #9. appendix, an it consulting business plan template, what do you do in it consulting, how do i start a small consulting business, what is the best structure for a consulting business, how do i start a consulting business, what is a consulting plan, how do you structure a consulting project, how do you price a consultant, how do consulting firms get paid, final thoughts, what does an it consulting firm do, how do i start my own consulting business.

It’s excellent news for IT consultants because their niche services are in demand. The IT consulting industry is growing, and with it comes more competition, so it’s important for startups to have a good IT consulting business plan in place before they begin operations. Everything from expansion to salaries to marketing to the acquisition of new tools to employee certification and technological advancement should be factored into a comprehensive plan. You’ll need a solid foundation, much like any other company.

Download our ready-to-use IT consulting business plan template today.

A strong IT consulting business plan will incorporate both financial and strategic components. Although you may not necessarily require funds for office rent or capital equipment costs, you may need a loan to get you through the initial few months until you establish a regular cash flow. You might also decide that renting office space, possibly in a shared office setting, will help you make a stronger impression. Or you might need money for marketing and promotion, which is crucial in the very competitive IT industry. Whether you want to use crowdfunding, hunt for grants, or apply for a bank loan, it’s critical that your chosen strategy includes a reliable calculation of what you need to expand strategically.

An IT consulting business plan is essential if you want to launch a successful IT consulting firm or expand your current one. A business plan will assist you in obtaining money, if necessary, and in planning the expansion of your IT consulting company. A well-maintained IT consulting business plan is a living document that should be reviewed and revised each year.

The importance of a business plan can’t be overestimated when it comes to your IT business. Knowing this, you should get in touch with the business plan writers at BusinessYieldConsult to have them write an effective and catchy one for you today.

How to Write an It Consulting Business Plan

I know you’re excited about choosing this business but do you know how much important it is to have an effective business plan? There are some steps you need to follow which can never be ignored to make your plan a strong one. We have them listed below to serve as a guide in writing your own plan. Here are the steps you need to follow:

Although it is typically the last piece you write because it summarises each important element of your IT consulting business plan, your executive summary serves as an introduction to your business plan.

Your executive summary should draw the reader in right away. Tell them about the IT consulting company you run and its current state.

In your company overview, you will describe the type of IT consulting firm you are operating, such as strategic planning, architectural planning, operational assessment, and implementation planning.

The company overview needs to give information on the business in addition to describing the type of IT consulting firm you will run.

You must include a summary of the IT consulting sector in your sector or market study. Although it may appear unneeded, this provides a number of functions.

You first gain knowledge by researching the IT consulting sector. It aids in your understanding of the industry you work in.

Your marketing plan can benefit from market research, especially if your analysis reveals market trends. To demonstrate to readers that you are an authority in your field. You accomplish this by performing the study and presenting the results in your plan.

Your IT consulting business plan’s customer analysis section must include information on the clients you already serve and/or anticipate serving.

A target market is the group of potential clients to whom you want to offer your products, and it consists only of those who will work well for your company. In essence, you need to decide which fish in the water you’ll concentrate on catching. Realizing that you can’t advertise to everyone and that it is a waste of time, money, and resources to try will help you develop a target market.

Your competitive analysis should list both your company’s direct and indirect rivals before concentrating on the latter.

Customers can buy from other companies that aren’t directly in competition with your product or service, known as indirect competitors. This comprises internal IT personnel, business consultants, and other kinds of IT expertise. Such competition must also be mentioned.

Give a brief description of each of these competitors’ businesses and list their advantages and disadvantages. It won’t be possible for you to know everything about your competitors’ companies unless you previously worked there. However, you should be able to learn important details about them.

A solid management team is crucial to proving the viability of your IT consulting company. Draw attention to your key players’ backgrounds by highlighting the knowledge and expertise that demonstrate their capacity to expand a business.

You and/or your team members should ideally have first-hand knowledge of running an IT consulting business. If so, emphasise your experience and knowledge. Highlight any experience you believe will assist your firm in succeeding, but do so as well.

Consider forming an advisory board if your team is inadequate. An advisory board would be made up of 2–8 people who would serve as business mentors. They would assist with clarification and offer strategic direction. If necessary, seek out advisory board members with business management expertise in the IT consulting industry.

A crucial step in starting your IT consulting business is developing a comprehensive marketing plan. This entails forming a strong professional network, defining your brand , identifying your target market, developing a credible website, and spending money on search and social media marketing. It’s crucial to strategically assess your marketing spend, funding requirements, loan collateral, and interest rate because many firms make elementary errors that result in wasted money and missed chances.

Monthly sales estimates can help you better understand your company’s demands going forward and will enable you to adjust your predictions as necessary. When predicting performance statistics for your company’s upcoming month or any future months, you can use monthly forecasts in the form of production forecasts, profit forecasts, balance sheet forecasts, or sales forecasts for a 30-day period. Businesses that provide services are particularly vulnerable to fluctuations in sales. It’s preferable if income can be forecasted with some degree of accuracy.

Your income statement, balance sheet, and cash flow statements are all parts of your financial statements.

Include all of your financial estimates and any other supporting materials in an appendix to your IT consulting business plan.

Writing an IT consulting business plan might not be easy for you. That’s why we’ve compiled a ready-to-use IT consulting business plan template for you. Click here to download.

You need a template checklist in addition to developing a plan so that you can make sure your investment is sound. The main goal of this IT consulting business plan template is to help you keep track of all the steps necessary to launch a reliable IT consulting business. These steps consist of:

• Draft an executive summary .
• Describe your company.
• Perform a market analysis.
• Outline the management and organization.
• List your products and services.
• Perform the segmentation.
• Define a marketing plan.
• Provide a logistics and operations plan.

Download our IT consulting business plan template for a stress-free business plan.

IT consultants are external analysts that examine a company’s IT systems to help them fulfill its business objectives. Among their key responsibilities are the analysis and diagnosis of an organization’s IT system, the identification of the client’s specific business requirements, and the development and deployment of an appropriate technological solution.

The following are steps you can take to start a small consulting business:

• Identify your area of expertise.
• Make a website.
• Get certified.
• Choose a target market.
• Decide where you’ll work.
• Create your offerings.
• Set your rates. 

The various benefits of being a single proprietor and an owner of a corporation are combined in limited liability companies, which is why some consultants prefer to be members of such a company. This is the best legal form for a consulting business if you are a sole proprietor or run a small firm and wish to safeguard your personal assets.

You can start your consulting business by following the following steps:

• Assess your strengths and skill set.
• Figure out what your market needs.
• Ride the organic marketing train.
• Practice your elevator pitch.
• Invest in the tools of the trade.
• Staff wisely.
• Write client proposals.

Consulting plans detail the project’s goals, deliverables, and expected schedule for completion.

Here are ways to structure a consulting project:

• Define Problem
• Structure the problem.
• Prioritize Issues
• An Analysis Plan and Work Plan
• Conduct Analysis
• Synthesize Findings
• Develop Recommendations

Hourly fees for independent IT consultants in the UK can be anywhere from £35 to £200. Unfortunately, the typical rate is quite low, at only about £60 per hour.

The typical annual basic wage for an analyst or junior consultant is between £50,000 and £600,000. The range is £60,000–£75,000 annually if you’re an associate consultant.

Business plans usually need to be created with banks and investors in mind, and small enterprises often need start-up capital to get off the ground. It’s best to strike a balance while creating a business plan for your IT consulting firm.

Even though consultants starting their own businesses might not require much cash, it’s still important to include comprehensive financial information in your business plan. This will help you understand your company’s possible risks and rewards as well as its finances in more detail.

An IT consulting firm works with customers to assist them in resolving IT issues. The spectrum of this industry ranges from simple network analytics support all the way up to managed IT solutions. Most consulting companies will focus on a relatively small area of IT.

A bachelor’s degree in computer science, information technology, electrical engineering, or a similar field is often required for IT consultants. Many IT professionals have, however, chosen different routes by employing online resources, specialised training, and certifications.

• Do basic market research to determine a specialty
• Solidify your IT services niche.
• Choose a business name and logo.
• Write a business plan for your business.
• Fund your IT business.
• Implement a solid IT marketing strategy.

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• CONSULTING BUSINESS PLAN: 2023 Template & Tips
• ONLINE CONSULTING BUSINESS PLAN: 2023 Best Easy Guide
• BUSINESS CONSULTING BUSINESS PLAN: Best 2023 Strategies

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IT Consulting Business Plan Template

DEC.13, 2021

Do you want to start an IT Consulting business plan?

Do you want to start an IT consulting business? It’s a great idea If you are thinking about it, especially if you want to start a small but profitable business. It requires fundamental knowledge of IT and an understanding of customer dealing. And you can start it on your own or with a small team too.

Even though it is a relatively simple business to start, you should still use a business plan for IT consulting as a guiding tool. It is a significant step when you wonder how to start an IT consulting business. Business plans are always helpful even if you’re reading a sample life coaching business plan .

So, it’s up to you. Either hire business plan writing services or write your own business plan using this document as a guide.

Executive Summary of IT Consulting Firm

2.1 the business.

Hampton’s IT Consulting will be an IT consulting startup owned by Ruby Hampton. The company will provide IT consultation services in and around the Brooklyn area. It will offer a wide variety of services ranging from simple consultations to system development, implementation and management.

2.2 Management of IT Consulting Company

Ever wondered how to start your own IT consulting business? The best start is to read a lot of business plans for IT consulting and then develop one of your own. The best business plan strategy ensures success with adequate human and technical resources planning.

So, if you want to do IT consulting for small business, you need to go through the trouble of writing a business plan like this one.

2.3 Customers of IT Consulting Company

To start a IT consulting business, you need to identify your customers. Our customers will come from all walks of life:

• Small and Large Businesses
• Government Facilities
• Educational Facilities
• Small and Large Stores

2.4 Business Target

Our target is to become the most trusted and demanded consulting company in Brooklyn for customers who need help achieving their business goals through IT.

We want to achieve the below-mentioned financial targets for the first two years of our launch:

Company Summary of IT Consulting Firm

3.1 company owner.

Ruby Hampton will be the owner of Hampton’s IT Consulting. Ruby completed her Master’s in IT about two years back. Afterwards, she worked for an IT consultation company in Manhattan. After that, she left the job to start her own endeavour in the field.

3.2 Why the IT Consulting company is being started

Ruby noticed that many businesses around her Brooklyn hometown were struggling to make adequate use of their IT resources for improving their work. She realized that she could use her knowledge and experience to improve the functions of businesses in Brooklyn. And so, she decided to start her own IT consulting firm.

3.3 How the IT Consulting company will be started

Step1: Plan Everything

The first step in learning how to start a IT consulting business of your own is to develop a business plan for IT consulting firm. To help you figure out how to set up an IT consulting business, we are providing a sample business plan here. Ruby decided to offer consultations services to every business under the sun, so you can use this plan for IT consulting business ideas for any business. You can also hire business plan experts to handle everything for you.

Step2: Define the Brand

You need to develop a brand for your business that can help you stand out. In this phase, you highlight your professional values and policies towards your customers to show your competitive advantage.

Step3: Establish Your Corporate Office

Ruby decided to rent out an office in a Brooklyn commercial building for starting the firm. But, first, she will put together a small team and procure the computing equipment needed.

Step4: Establish a Web Presence

Online advertisement is a huge part of the marketing of any business. Understanding this, Ruby decided to create social media profiles for her business and get a website developed. She expects that it will help her stay connected to her clients.

Step5: Promote and Market

In the final phase, a comprehensive marketing plan needs to be executed to promote the business.

Services of IT Consulting Firm

Before you start an IT consulting business company, you need to figure out what your services will be. That way, you can plan your business around these services you will provide to the customers.

A strong IT consulting business model contains detailed information about the services of an IT business consulting group.

Since Ruby decided to offer a wide variety of services, this IT consulting services business plan can be used as a reference for any business plan. Even a   private counseling practice business plan .

So if you want to start your own IT consulting business, you can take help from this document. Here, we are describing all the services offered by Hampton’s IT consulting briefly:

IT Infrastructure Planning

We will provide a basic infrastructure consultation service. In this service, we will analyze the client’s business requirements and provide them with a comprehensive plan to develop their infrastructure resources around their business.

Security Consulting

We will also offer security IT security consultation, which will include:

• Security Planning against future attacks
• Security reinforcements
• Development and Implementation of a Security System if required

Risk Assessment Analysis

Our firm will also provide analysis and risk assessment of the IT infrastructure of the business. The client can then avail of our resources further to alleviate the concerns uncovered by the analysis.

Disaster Recovery Planning

IT systems are prone to disasters. Our firm will ensure a system that can recover from any unexpected disaster at a quick pace so that our customers don’t have to face any troubles.

Marketing Analysis of IT Consulting Firm

When you want to start an IT consulting business or any other business, you should have a good idea of who your customer base and competition will be. This information is usually added as a part of IT consulting firm business plan for an IT firm or a business plan for business consulting .

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You can gain insights about your customers and competition through a marketing analysis. Any expert will tell you that marketing analysis is a crucial part of a business plan, let it be a sample IT consulting business plan or a mortgage business plan template .

In case you don’t know how to conduct marketing analysis, you can reach out to some IT business consulting experts. You can also use this document as a learning point for developing a business plan for IT consulting business software. Below, we have presented a detailed marketing analysis of Hampton’s IT Consulting Firm.

5.1 Market Trends

According to IBISWorld, the IT Consultation business in the US has a bold market share of $525.3 Billion. And as of 2021, it continues to grow at a rate of 2.4% every year. Taking a general view, the involvement of digital devices and systems is increasing day by day in every industry. As a result, businesses are looking for ways to shift their old infrastructures to the digital realm. It means that the demand for IT consultation services is not about to go down any time soon.

5.2 Marketing Segmentation

The expected customer base of Hampton’s IT Consulting is divided into the following groups:

5.2.1 Government Facilities

The primary area of the shift to digital services is the government facilities. These facilities require a lot of assistance to shift their systems online or improve existing systems without affecting their operations too much. So they are expected to be our long time customers.

5.2.2 Small/ Large Businesses

Our second biggest customers will be the businesses that want to stay up-to-date with the newest technology. They are expected to utilize our services regularly as well.

5.2.3 Educational Facilities

Educational facilities also require developments in their IT systems quite regularly. So, they are also expected to use our services from time to time.

5.2.4 Commercial Stores of Every Scale

Last but not least, most retail stores are going online and need robust systems for that purpose. We expect to provide our services to these clients as well.

5.3 Business Target

• To become the most trusted IT consultation firm in all of Manhattan
• To increase the scale and reach of the business over the next five years
• To achieve a profit margin of $100k per month by the end of the second year
• To maintain customer satisfaction above 95%

5.4 Product Pricing

Our prices will be dependent on the range of services required by the customers. They will be along the same lines as the market standard. But we will maintain continuous communication with the clients to ensure satisfaction till the end.

Marketing Strategy of IT Consulting Firm

To start own IT consulting business, you need a solid marketing plan to stand out in the industry. To gain this prominence, and for marketing IT consulting business, you need to find promising areas of your businesses that will help customers recognize you as a better option.

Like a freelance business plan , you need to showcase your distinctions. In this IT consulting startup business plan, we are detailing a marketing plan for Hampton’s IT Consulting:

6.1 Competitive Analysis

• We have excellent customer care and support services. We will ensure to take feedback from our customers to improve our performance regularly.
• Our clients can reach us at any time through our contact, website or social media, and we will get back to them at the earliest possible time.
• We will not only implement systems but also guide our customers in how to use them. We will also offer standing support to help the clients whenever they need it.

6.2 Sales Strategy

• We will offer free maintenance and support to our recurring customers over two years.
• We will advertise our services through Google ads, word of mouth and social media.
• We will also offer discounts to our new customers.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan of IT Consulting Firm

An IT consulting business proposal contains information about business personnel as well. This is because the success of a business is highly dependent on the workforce, especially for big IT consulting business names. Wanting to uphold these standards and to become a part of IT consulting business slogans, Ruby detailed the team requirements and selection criterion in the business plan:

7.1 Company Staff

• 1 Co Manager
• 6 IT Executives combined in 3 teams to handle client systems developments
• 1 Technician to upkeep the machinery
• 1 Web Developer/ Mobile App Developer to manage online sites
• 1 Sales Executive to organize and promote contracts
• 1 Accountant
• 1 Receptionist

7.2 Average Salary of Employees

Financial plan of it consulting firm.

The success of a business isn’t just ensured by sales. Every business needs a financial plan to make sure that the business is working on the correct route and providing a profit. A financial plan is as important to It consulting definition business as it is to a business plan for recruitment firm .

A financial plan doesn’t only help you in managing your expenses. It also helps to answer fundamental questions like how much does it cost to start a consulting business.

Here we’re providing the detailed financial plan of Hampton’s IT Consulting. You can get an idea of the business finances through this plan.

8.1 Important Assumptions

8.2 break-even analysis.

8.3 Projected Profit and Loss

8.3.1 profit monthly.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

How do I write a business plan for a consulting business?

A business plan is critical if you are wondering how do I start a consulting business. You can take help from this document for writing a consulting business plan.

What does an IT business consultant do?

An IT consultant has many job roles such as system development and implementation, maintenance, security and analysis of systems.

How much does it cost to start a IT consulting business?

The costs of starting an IT business depends on the scale of the business and requirements. But if you want to know how much does it cost to do a business plan, it generally ranges between $5k to $10k.

How do I start a computer consulting business?

If you want to start a computer consulting, you will need a computer consulting business plan. You can refer to this document for help in that matter.

Download IT Consulting Business Plan Sample in pdf

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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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.:

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

Technology Business Plans

Apps & software business plans.

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Data Business Plans

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Internet Business Plans

• Dating Matchmaking Service Business Plan
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• Print Shop Website Business Plan
• Real Estate Website Business Plan
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Technology is something we use every single day. Smartphones, computers, data networks, mobile apps, software, and any number of other innovative solutions that we just can’t seem to live without. Creating a great opportunity to develop a business around selling, creating, or maintaining various technologies. But to successfully do that you’ll need a business plan.

Start your plan off on the right foot by browsing these sample business plans for computer repair, computer consulting, data recovery, computer support, I.T., computer engineering, and a number of other potential businesses.

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Technology Consultants Strategic Plan Template

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

In the fast-paced world of technology consulting, having a strategic plan is essential to stay ahead of the game. With ClickUp's Technology Consultants Strategic Plan Template, you can create a clear roadmap for success and navigate the ever-changing landscape with confidence.

This template empowers technology consulting firms to:

• Define long-term goals and objectives for business growth and client satisfaction
• Develop effective strategies to deliver top-notch consulting services
• Identify and leverage emerging technologies to stay ahead of the competition

Whether you're a seasoned technology consultant or just starting out, this template will guide you in creating a winning strategic plan. Get started today and take your consulting business to new heights!

Benefits of Technology Consultants Strategic Plan Template

When technology consulting firms use the Technology Consultants Strategic Plan Template, they benefit from:

• Clearly defined long-term goals and objectives that guide decision-making and resource allocation
• A strategic roadmap for delivering exceptional consulting services and meeting client expectations
• Proactive strategies for staying ahead in the ever-changing technology landscape
• A framework for identifying and leveraging new opportunities for business growth
• Alignment of the entire team towards a shared vision and purpose
• Effective risk management and contingency planning to mitigate potential challenges
• Continuous improvement and innovation to maintain a competitive edge in the market.

Main Elements of Technology Consultants Strategic Plan Template

ClickUp's Technology Consultants Strategic Plan template provides a comprehensive solution for managing and executing technology consulting projects effectively.

Key elements of this template include:

• Custom Statuses: Track the progress of projects with five status options - Cancelled, Complete, In Progress, On Hold, and To Do - ensuring clear visibility into the current state of each task.
• Custom Fields: Utilize eight custom fields such as Duration Days, Impact, Progress, and Team Members to capture essential project information and streamline the planning process.
• Custom Views: Access six different views, including Progress, Gantt, Workload, Timeline, Initiatives, and Getting Started Guide, to visualize project timelines, monitor progress, allocate resources, and streamline collaboration.
• Project Management Tools: Leverage ClickUp's advanced project management features, including Gantt charts, workload view, and timeline view, to streamline project planning, execution, and tracking.

How to Use Strategic Plan for Technology Consultants

Creating a strategic plan for your technology consulting business can be a game-changer. By utilizing the Technology Consultants Strategic Plan Template in ClickUp and following the steps below, you can effectively map out your goals and strategies to achieve success in your industry.

1. Set your vision and mission

Start by clearly defining your long-term vision and mission for your technology consulting business. What do you want to achieve? What values do you want to uphold? This step will provide a solid foundation for your strategic plan and guide all future decision-making.

Use a Doc in ClickUp to document your vision and mission statements.

2. Assess the current state of your business

Take a comprehensive look at your current business operations, strengths, weaknesses, opportunities, and threats. Analyzing your internal and external environment will help you identify areas for improvement and potential growth opportunities.

Create custom fields in ClickUp to track and evaluate different aspects of your business, such as client satisfaction, employee skills, market trends, and competition.

3. Define your objectives and goals

Based on your assessment, set specific and measurable objectives and goals for your technology consulting business. These goals should align with your vision and mission and address the areas you identified for improvement or growth.

Use Goals in ClickUp to set and track your objectives and goals. Break them down into smaller, actionable tasks to ensure progress and accountability.

4. Develop strategies and action plans

Once you have your goals in place, it's time to develop strategies and action plans to achieve them. Determine the key initiatives and projects that will help you move closer to your goals and outline the necessary steps and resources needed for each.

Use the Gantt chart view in ClickUp to visualize and plan your strategies and action plans. Assign tasks, set deadlines, and allocate resources to ensure smooth execution.

5. Monitor progress and make adjustments

Regularly monitor and review the progress of your strategic plan. Track key performance indicators (KPIs) and metrics to measure the effectiveness of your strategies. Identify any deviations or challenges and make necessary adjustments to stay on track.

Use Dashboards in ClickUp to track and analyze your KPIs and metrics. Set up Automations to receive real-time updates and notifications on progress.

By following these steps and utilizing the Technology Consultants Strategic Plan Template in ClickUp, you can create a clear roadmap for your technology consulting business and drive it towards long-term success.

Get Started with ClickUp’s Technology Consultants Strategic Plan Template

Technology consulting firms can use the Technology Consultants Strategic Plan Template to effectively strategize and plan for long-term success in the industry.

To get started, click on "Add Template" to sign up for ClickUp and add the template to your Workspace. Make sure to specify the Space or location in your Workspace where you want this template applied.

Next, invite relevant team members or guests to your Workspace to collaborate and contribute to the strategic planning process.

Now you can leverage the full potential of this template to create a comprehensive strategic plan:

• Use the Progress View to track the progress of each strategic initiative and ensure alignment with your goals
• The Gantt View will help you visualize and manage the timeline of your strategic plan, ensuring timely execution of tasks
• Utilize the Workload View to distribute tasks evenly among team members and maintain a balanced workload
• The Timeline View provides a clear overview of key milestones and deadlines to keep your team on track
• The Initiatives View allows you to break down your strategic plan into smaller initiatives, making it easier to manage and track progress
• Refer to the Getting Started Guide View for step-by-step instructions on how to effectively use this template and maximize its features

Organize tasks into five different statuses: Cancelled, Complete, In Progress, On Hold, To Do, to keep track of their progress and status updates.

Regularly update task statuses to ensure everyone is informed of progress and any potential roadblocks.

Monitor and analyze tasks to drive productivity and successful implementation of your strategic plan.

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Technology Consulting: What It Is & How to Succeed in It

Published: February 28, 2023

There are few things businesses do today without technology. Technology consulting helps them make the most of it.

This is where technology consultants come in. These technology specialists offer a unique, objective, and specialized approach to technology. Then they use those skills to improve business results.

In this article, we’ll talk about what technology consulting is, why it's valuable, and how to get started as a technology consultant.

Keep reading or jump to the section you're looking for:

What is technology consulting?

Why technology consulting, what does a technology consultant do, why do businesses need tech consulting, how to become a technology consultant.

Technology consulting is the process of advising businesses on how to best use technology and software to benefit their business. It can refer to the design and development, implementation, or management of new technology.

There are many names for technology consultants:

• IT consultants
• Computer consultants
• Software consultants
• Business and technology advisors
• Digital consultants

This short list is just the beginning. It highlights the importance of this role in the vast modern technology industry. It also shows people new to the industry just how many things technology consultants specialize in. These consultants can work for large consulting firms or start their own consulting businesses .

Technology is a critical part of business success. With its rapid growth and expansion into virtually every industry, tech consulting is more in demand than ever, and the truth is in the numbers. The IT consulting industry grew by over 30% between 2012 and 2022, with a market value of over $620 billion .

As of this writing, over 2.5 million people are employed as technology consultants and this role has a good outlook for continued growth. Tech consultants continue to offer value by helping businesses understand how to use and make the most of new technologies.

Technology consultants work to solve a variety of business problems with technology. A tech consultant works with clients on specific projects or systems to improve the results they deliver to the business.

For example, someone offering these services might help a company install software for remote work. Then, that consultant could also help make sure that software doesn't impact other business systems.

This role could also include:

• Custom software development
• Infrastructure planning
• Security analysis
• Risk assessment
• Scaling issues
• Manage and advise on technology tools
• Competitive tech analysis

Tech consultants often work with a business’s executives, leaders, and senior managers. They might also advise on the strategic or financial sides of technology and software. For example, talking about how to invest in cost-efficient systems or how to integrate the Internet of Things across departments.

As businesses grow, technology becomes more important. Tech consulting experts help these companies transform their technology usage. This can help to:

• Reduce costs
• Drive corporate strategy
• Streamline business processes
• Develop new talent
• Inspire innovation
• Boost productivity

Some technology consultants fill holes in a current team, while others offer advice on best practices. Either way, tech consulting helps businesses prepare for and respond to the rapid pace of digital transformation.

• Earn a degree in IT or computer science.
• Gain some experience.
• Narrow your focus.
• Get some certifications.
• Work on your soft skills.
• Follow technology trends.
• Grow your network.

If you’re interested in a career in business technology consulting, here are a few tips to help you get started.

1. Earn a degree in IT or computer science.

Employers and clients alike prefer technology consultants with professional education. Think about focusing on a field like IT, computer science, or computer engineering. A degree can also give you a unique experience with expertise that could come in handy for future clients like:

• Software development
• Data Science

Some consultants choose a business minor too, as consulting needs as much business skill as it does technology know-how. Marketing, business management, and communication classes can help hone these skills.

2. Gain some experience.

Both internships and jobs can help give you the hands-on experience it takes to start your technology consulting career. Consider interning with or shadowing a technology consultant to get relevant field experience. Other internships in IT or software development can help, too.

After (or instead of) working in an internship position, apply for entry-level IT jobs. Employers and clients prefer technology consultants with experience. While working in these positions, test your skills in different projects. This can help you figure out what parts of technology consultation you like and can specialize in.

These experiences will also help you hone your networking , communication , and problem-solving skills .

3. Narrow your focus.

While many tech consultants are generalists, consultants are often more effective with a specialty. A focus can also help you connect with the right clients and employers quickly.

Whether you choose to focus on virtualization, mechanics, or security, this focus will show clients the depth of your knowledge. It will also make your skills more valuable to businesses.

To find your focus, test your skills on a range of projects. Then, connect your unique skills and interests with client needs.

For example, startups may need more help with software development and planning. But enterprise businesses are more likely to need tech stack updates and troubleshooting. As you learn about your chosen specialty, don’t forget to think about who you want to help with these skills.

4. Get some certifications.

While a degree is useful for many tech roles, most consultants will also need certifications for relevant tools and software. This list includes some popular certification examples .

The right certifications for you will depend on your chosen area of focus. For example, if you're interested in cloud computing, you may want an AWS solutions architect certification. If you're more interested in project management and agile frameworks, a Scrum product owner certification might be a better fit.

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Up-to-date certifications will show clients that you're keeping up with new software releases and updates. Certs will also highlight your level of knowledge and experience.

Another continued education in tech is in-person or online boot camps. These sessions let you learn and complete certifications at the same time. Support forums are also a great choice, and these can help you learn from real-life situations before you get your first consulting gig.

5. Work on your soft skills.

Technology consulting is about more than understanding technology. To excel as a tech consultant, you must be able to communicate complex concepts and processes to new users.

There are many ways to develop these skills. Some may need to build skills in public speaking and sales .

Others will want to learn visualization tools like Visio to create process documents and workflows. Flowchart template mastery can help too. These process mapping and diagram skills make it easier to share tech knowledge with non-tech users.

You can practice your presentation skills with these helpful templates for consultants .

Other soft skills for great technology consultants include:

• Persistence
• Attention to detail
• Analysis and logic skills
• Grace under pressure
• Problem-solving abilities
• Time management

And if you plan to start your own business, you’ll want to learn how to get consulting clients .

Context-switching and relationship-building are also useful skills. Most consultants work with a range of clients that have different needs and goals. This means that you may need to quickly switch between tasks to complete your work.

It also means that your ability to quickly connect to clients will add value. This skill can smooth some of the challenging situations you'll find in your consulting jobs.

6. Follow technology trends.

Technology is an ever-changing industry. So, the best technology consultants keep up with the latest trends.

Not only does this keep you informed, but it meets your client’s expectations of you as a technology "expert". This most up-to-date expertise will also help you stay competitive.

Read research reports and subscribe to technology newsletters and publications like TechCrunch and Recode . Watch relevant videos from sites like The Verge and WIRED .

If your focus is on a specific software or branch of technology, those companies often have resources for tech consultants. For example, Microsoft Learn includes technical documentation, videos, and code samples in its vast library of tools.

It’s also helpful to keep up with the open-source community as they’re the first to test and adopt new technology; visit sites like GitHub to check out trending and starred projects .

7. Grow your network.

Get to know other professionals in the IT and technology business consulting industries. This will help you create relationships that could lead to new clients or colleagues.

Attend events in your internship, job, or community to expand your technology network. Find ways to stay in touch with past clients and colleagues and support their updates on social platforms like Twitter and LinkedIn . Join local professional groups in your area and take on leadership roles when you can to expand your tech consulting network.

Offer Value as a Technology Consultant

Technology consulting is a valuable and lucrative industry, and technology consultants are major assets to the clients that hire them.

As a tech consultant, you offer incredibly useful skills to businesses large and small. Your efforts can help a company retain top talent, improve its products, and grow the business.

It takes skills, knowledge, and drive to succeed in this industry. But if you follow the steps above to start your career in technology consulting you'll be in a good position to add value as a consultant.

Editor's note: This post was originally published in December 2019 and has been updated for comprehensiveness.

Don't forget to share this post!

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IT Services Business Plan Template

Written by Dave Lavinsky

IT Services Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their IT companies.

If you’re unfamiliar with creating an IT business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an IT business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an IT Services Business Plan?

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

Why You Need a Business Plan for IT Company

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

Sources of Funding for IT Businesses

With regards to funding, the main sources of funding for an IT business are personal savings, credit cards, bank loans, and angel investors. When it comes 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 ensure 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 IT companies.

Finish Your Business Plan Today!

How to write a business plan for an it services business.

If you want to start an IT business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your IT business plan.

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 kind of IT business you are running and the status. For example, are you a startup, do you have an IT business that you would like to grow, or are you operating a chain of IT businesses?

Next, provide an overview of each of the subsequent sections of your plan.

• Give a brief overview of the IT industry.
• Discuss the type of IT business you are operating.
• Detail your direct competitors. Give an overview of your target customers.
• Provide a snapshot of your marketing strategy. Identify the key members of your team.
• Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of IT business you are operating.

For example, you might specialize in one of the following types of IT businesses:

• Computer repair: This type of IT business provides computer maintenance and repair services.
• Computer training: This type of IT professional specializes in teaching others how to use computers as well as various software and computer programs.
• IT support: This type of IT professional provides services for businesses such as setting up a network, backing up data, and systems management.
• Cloud computing: This type of IT specialist helps individuals and businesses establish cloud platforms and tools, or may help to migrate their information to the cloud.

In addition to explaining the type of IT business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

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

Industry Analysis

In your industry or market analysis, you need to provide an overview of the IT industry.

While this may seem unnecessary, it serves multiple purposes.

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

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

The third reason 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 IT business plan:

• How big is the IT 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 target market for your IT 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 IT business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

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

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

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize 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 IT businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes other types of IT consultants, in-house IT support, or do-it-yourself IT tutorials. You need to mention such competition as well.

For each such competitor, provide an overview of their business 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 customers do they serve?
• What type of IT business 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:

• Will you make it easier for clients to acquire your product or service?
• Will you offer products or services that your competition doesn’t?
• 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 an IT business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of IT company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide cloud computing, data center management, or network setup 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 plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your IT company. Document where your company is situated and mention how the site will impact your success. For example, is your IT business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your IT marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

• Advertise in local papers, radio stations and/or magazines
• Reach out to websites
• Distribute flyers
• Engage in email marketing
• Advertise on social media platforms
• Improve the SEO (search engine optimization) on your website for targeted keywords

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 IT business, including answering calls, meeting with new clients, billing and collecting payments from clients, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your Xth client, or when you hope to reach $X in revenue. It could also be when you expect to expand your IT business to a new city.

Management Team

To demonstrate your IT business’ potential 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 IT businesses. 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 as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an IT business or successfully running a small IT consulting service.

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 revenue 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 charge your clients an hourly rate of $250 per hour, and will you work 5 hours per day? 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 IT 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 lender 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 ensure 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.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an IT business:

• Cost of equipment and office supplies
• Payroll or salaries paid to staff
• Business insurance
• Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

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 office location lease or a list of your IT credentials.

Writing a business plan for your IT business is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert on IT business planning. You will understand the IT industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful IT business.

IT Business Plan FAQs

What is the easiest way to complete my it services business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your IT services business plan.

How Do You Start an IT Services Business?

Starting an IT business is easy with these 14 steps:

• Choose the Name for Your IT Business
• Create Your IT Business Plan
• Choose the Legal Structure for Your IT Business
• Secure Startup Funding for Your IT Business (If Needed)
• Secure a Location for Your Business
• Register Your [Sector] Business with the IRS
• Open a Business Bank Account
• Get a Business Credit Card
• Get the Required Business Licenses and Permits
• Get Business Insurance for Your IT Business
• Buy or Lease the Right IT Business Equipment
• Develop Your IT Business Marketing Materials
• Purchase and Setup the Software Needed to Run Your IT Business
• Open for Business

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How attorneys in alleged troll factory case plan to keep Mueller secrets from Moscow

After more than a year of arguing, prosecutors and defense attorneys in a court case related to alleged Russian interference in the 2016 presidential election have agreed on a complex system for handling "sensitive" discovery information, designed to ensure the government's best-kept secrets stay far from the Kremlin as the 2020 election looms.

So far, defense attorneys for Concord Management and Consulting, a Russian firm accused of funding a troll factory that aimed to sow discord before and after the 2016 election, have not been able to share - or discuss -- the sensitive information with officers of the company under a strict protective order, which the defense attorneys said makes it virtually impossible to prepare for trial.

Prosecutors, on the other hand, said that revealing the sensitive information to individuals in Russia, far beyond the reach of U.S. legal jurisdiction, could compromise national security and potentially reveal to the Russian government just how much U.S. intelligence and law enforcement knows -- and doesn't know -- about Russia's purported interference efforts in 2016. The U.S. government says Concord is controlled by Yevgeny Prigozhin, a co-defendant in the case and an associate of Russian President Vladimir Putin.

"That information, used by a foreign adversary, could be used to avoid detection in the future," U.S. Attorney Jonathan Kravis told the court in March, echoing concerns national security and legal experts shared with ABC News in October.

After months of haggling, on Wednesday the two sides offered the judge a joint proposal for a compromise: the government would identify some sensitive materials, called "intermediate Sensitive," that can be taken to Russia and seen there by certain court-authorized individuals, like company officers or potential witnesses in the case, as long as they view the materials in a designated location in Russia and are escorted by an authorized chaperone, according to the new protective order that's been proposed.

But the most closely held information, dubbed "U.S. Sensitive," would remain in the U.S., locked away in the law offices of Reed Smith, the American firm representing Concord. To share that information with anyone, Concord's attorneys would first have to get the court's permission, potentially by going through a third party called a " firewall counsel " which would review the request. Filings related to the request would be done electronically but also delivered by hand on an "encrypted disk."

If approved, those people would still have to physically come to the U.S. to view the material. Defense attorneys for Concord have previously said there's little chance company officers, some of whom like Prigozhin are co-defendants in the case, would travel to the U.S. for fear of arrest upon arrival.

"U.S. sensitive material may under no circumstances be disclosed, transported, or transmitted outside the United States unless so ordered by the Court," the proposed order says.

The discovery in the case is made up of millions of documents, including the material already deemed non-sensitive, and ranges from social media postings to email messages. Eric Dubelier, the lead defense attorney, said in a pre-trial hearing Tuesday that his legal team has spent a year trying to through all the information and still isn't done sorting through it.

The sensitive information, Wednesday's filing says, includes witness statements, information that could identify potential witnesses, information related to ongoing investigations and information "related to sensitive law enforcement or intelligence collection techniques."

Prosecutors have indicated they're especially concerned about information contained in search warrants executed by law enforcement in the case.

U.S. District Judge Dabney Friedrich has yet to sign the new protective order as of this report, but indicated in court Tuesday she was eager to review it.

Concord is the only one of three Russian business entities and 13 Russian individuals charged in the case to respond in court. U.S. law allows for a corporate defendant to fight a court case without any individual from the corporation physically being in court - and, in this case, without putting themselves in danger of being arrested.

Concord has pleaded not guilty to a conspiracy charge, and the trial is tentatively scheduled to begin in April 2020. Russia has long denied election interference allegations.

In the meantime, special counsel Robert Mueller, who's 448-page report included a long section on Russia's alleged online influence operation ahead of 2016, warned that Russia will be back for 2020.

"They're doing it as we sit here," he told lawmakers in July. "And they expect to do it during the next campaign."

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United Investment-Consulting Group “Business & Innovations” Moscow – Saint-Petersburg - Tartu

Sep 16, 2014

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United Investment-Consulting Group “Business & Innovations” Moscow – Saint-Petersburg - Tartu. Your reliable business navigator in Russian and Estonian business environment. Our history. 1991 – 2008 – Independent business experience collection and training on individual practice

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• msw recycling
• business relations
• joint project
• international business enlightenment
• 2008 msw recycling plant

Presentation Transcript

United Investment-Consulting Group “Business & Innovations”Moscow – Saint-Petersburg - Tartu Your reliable business navigator in Russian and Estonian business environment

Our history • 1991 – 2008 – Independent business experience collection and training on individual practice • 2008 – First joint project in development • 2009 – Joint preparing to mutual work, team building, seeking international relations in investment market • 2010 – B&I foundation and starting new project of MSW-recycling in Murmansk and in Karelia • 2011 – Partnership agreement with Ivanov &Ko in Estonia, new business relations with Russian and Estonian innovative companies, starting the first joint project realization, starting the three new joint projects in Russia and in Estonia • 2012 – New Estonian Co foundation

Our credo • Our clients = Our partners • Our client’s business = Our business • Our competency = Our client’s competency • Our client’s success = Our success • The responsibility for the results = Our mutual responsibility

Who we are Our faces • We are the professional team of business practitioners joined by tight professional and personal friendship and working together more than 3 years. • Our skills: Economics, Finance, Strategic planning, Accounting, Legislation, Economic security, Project management, Marketing, HR-management, Trainings and Couching, Real Estate. • We know all national features and underwater reefs in the Ocean of Russian Business, we know how to avoid them and decrease the special risks. We know how to turn the shortcomings into advantages, and how to plan in unpredictable conditions.

What we do • We find out best investment opportunities in Russia and in Estonia • We develop a project and its strategy, accomplishing a Due Diligence and Business Planning • We prepare a package of documents and the project for the presentation • We seek investors and present a project for them • We conduct negotiations on behalf of project initiator • We develop the mutual acceptable conditions, prepare agreement documents and provide the signing process • We support business totally in order to assure the successful executing of business plan and interests of both parties all over the project duration • We consult top-managers on optimization of management system in HR, finance, structure, accounting, corporate culture • We perform trainings and seminars for boards of companies and independent entrepreneurs on business strategy and business planning, legislation and business promotion in Russia, CIS, Estonia and EU. • We support innovations and inventions and help to attract investments to implement them into production. And • We congratulate the participants with the success upon the finish of the project

Our approach • We regard any inquiries individually and confidentially; • We consider any project as a complicated commodity at the investment market, which should be of high quality and marketable attractive for investors; • So we do our best to prepare and develop and due diligence of the project from an idea to a state of real investment opportunity, then represent to the market in nice "packaging"; • This is hard work, so we don't do it free of charge, but our prices are comparable with the market and real possibilities of our clients; • As the any qualitative saleable goods, any project needs in the professional services, so we support it from the very start till planned success with our external management; • Thus we are responsible for the results, providing the reliability of projects, monitoring all internal and external changes, caring the secure and the interests of all participants of a project.

What we did Realized (before the B&I registration): • 2008 – MSW recycling plant in Ukraine (3 M EURO) • 2009 – Tourist Recreation-sport zone nearby Saint-Petersburg (5 M EURO) Realizing now: • MSW Recycling International Production Company in Russia (Murmansk region and Karelia) and in Estonia (20 M EURO) Preparing to realization: • The Network of Small Hydro Power Plants in Ukraine (140 M EURO) • Film studio in Estonia (5 M EURO)

Our partners • Advent UK Ltd – UK, London – the best lootsman in Financial Sea of London City; • Tallinn Technological University, Tallinn – science and technologic provider of our innovation development; • Nord-Intel Co Ltd, Murmansk – the provider of our ecologic projects in Russia and in Estonia; • Ivanov &Ko Ltd, Tartu – the legal and business supporter in Estonia • All of our clients – projects owners

What we plan • We plan to create the international Business consulting and training unit in Estonia as a center of international business enlightenment and cooperation between European and Russian entrepreneurs to draw closer their targets and knowledge and effectively use the opened opportunities of all sides • We plan to arrange strong business relations with several UK and EU investment companies and private Equity funds • We plan to create the Innovation Research Center of Science and Technology to develop the new technologies and products based on raw sources from MSW recycling plants in Estonia

We are interested in • Cooperation with reliable UK and EU companies engaged in investment market • Cooperation with Western consulting companies for joint realization of projects • Cooperation with production, construction, development, research and technology companies in Russia and in Estonia

Our contacts • Russia: B&I Inc., Reg. Cert. No 1107746459952 Tax Reg. No 7727720195 The address: 101/off.18, Yuzhnobutovskaja Str., Moscow, Russia, 117042 Email: [email protected] Tel. +7 916 994 0617 (Andrew Spesivtsev) • Estonia: Ivanov & Ko OU, Reg: 11239891 Reg. address: EE69102,Rahumäe 2a Karksi-Nuia, Eesti Office: Eesti Vabariik, Tartu linn, Vaksali 17a, 306, 50410 Email: [email protected] Tel. +3725 670 4144 (Andres Saask)

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