Start-up | |
Requirements | |
Start-up Expenses | |
Legal | $3,000 |
Accounting | $2,000 |
Brochures | $2,500 |
Consultants | $0 |
Insurance | $0 |
Rent | $0 |
Research and Development | $0 |
Expensed Equipment | $15,000 |
Other | $0 |
Total Start-up Expenses | $22,500 |
Start-up Assets | |
Cash Required | $213,500 |
Start-up Inventory | $0 |
Other Current Assets | $0 |
Long-term Assets | $9,000 |
Total Assets | $222,500 |
Total Requirements | $245,000 |
Non-readers rely on visual images as a form of communication, a replacement for the more typical text that readers are able to understand. The first component of the software is a digital cookbook of recipes. The software displays pictures of the different ingredients needed for the recipe. The pictures are then printed allowing the individual to take the picture to the grocery store facilitating the purchasing of the groceries. On each picture is also text explaining what the item is. Within each recipe is the ability to print the different utensils and pots needed to complete the item. While the recipes are meant to be cooked with support, the main goal is to allow the individual to have independent shopping.
The user first sees a bunch of different pictures of food dishes with names below the pictures. The user then chooses a dish and is brought to a screen where the ingredients are listed by picture and also the different utensils/pots/pans needed are listed. Once the user chooses what they want to prepare they can then print up a list of the different ingredients. The list is picture based (with text) and they are able to take the picture list to the grocery to assist them in purchasing the ingredients independently.
The second component of the software is the social occasion/party planning module. This is the fun part (in addition to the fun food pictures). Everyone likes to plan for party. The screen opens with pictures showing different occassions such as a picnic in the park, friends and movie night, birthday party, holiday event, pool party, etc. When the user clicks on the chosen image they hear 30 seconds of background music in a theme matched to the event that they have chosen. Once they have chosen the event the software takes them through the different steps of food preparation for the event. These food preparation steps are the previously explained food component that is now organized not by dish but by event. If a picnic in a park is chosen there will be several dishes to be made, all of them cold as there is no way of heating the dishes while you are in the park. All users of this module will be entertained by the background sounds as well as the excitement of planning for a party.
This component is especially important in the individual’s development. Planning activities are especially important for a population that is so isolated. Without socialization skills such as parties, the clients end up learning the skills and then sit in their apartment alone.
Ultimately, FoodFun’s software product combines two of the most important lifeskills/transition training areas, food preparation and social leisure. The food component allows the non-reading individuals with developmental disabilities to become more independent in their daily activities. The social planning module leverages the existing food module and assists the users in panning for social occassions centered around food. This module is designed to be entertaining to capture the interest and imagination of the user, drawing them into the software, creating the desire to use the product.
The software product will be developed by three contract programmers. The software will be upgraded yearly.
The market for lifeskills training software can be segmented into four groups. The first is centers for independent living, the second is school districts, the third is proactive parents, and the last is agencies charged with special education administration. Each of the four segments is distinct and will be communicated with in different ways. These four segments have been chosen because they are the main purchasers of products for individuals with developmental disabilities.
The software industry for individuals with developmental disabilities has just begun to grow. Only within the last few years has there been a significant increase in the number of computers found in classrooms using specialized software. Competing with the software companies are products that have printed pictures on them, typically laminated cards. While these cards are helpful, they are less interactive.
FoodFun LIS has identified four distinct market segments for their products:
Market Analysis | |||||||
Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
Potential Customers | Growth | CAGR | |||||
Centers for Independent Living | 6% | 3,245 | 3,440 | 3,646 | 3,865 | 4,097 | 6.00% |
School Districts | 5% | 14,856 | 15,599 | 16,379 | 17,198 | 18,058 | 5.00% |
Proactive Parents | 8% | 824,555 | 890,519 | 961,761 | 1,038,702 | 1,121,798 | 8.00% |
Agencies | 6% | 5,354 | 5,675 | 6,016 | 6,377 | 6,760 | 6.00% |
Total | 7.93% | 848,010 | 915,233 | 987,802 | 1,066,142 | 1,150,713 | 7.93% |
These four target segments were chosen because they have the greatest likelihood of purchasing FoodFun’s products.
There are several companies making products that specifically address learning needs for individuals with developmental disabilities. While some of the companies’ products are also suitable for traditional students, most companies in this industry specialize on products for developmental disabilities.
Within the industry there are a wide range of products. There are many different product groups that target specific types of disabilities. There are also different products targeted on a specific disability. Some might concentrate on spelling, reading comprehension, counting, sentence construction, etc. Lastly, within each specific category products take different forms, some may be CDs, software, cards, audio tapes, etc.
There are three main companies that are direct competitors to FoodFun Lifeskills Instructional Software, focusing on individuals with developmental disabilities or individuals with autism (75% of individuals with autism are developmentally disabled and non-readers).
FoodFun’s marketing strategy will be to raise visibility of the software product among the decision makers who are in charge of purchasing aids and instructional tools. The campaign will be targeted to reach these people/organizations so that they are aware of the options they have in developing the skills of individuals with developmental disabilities. Lastly, the sales strategy will seek to convince the prospective customers that there can be significant gains in learning through FoodFun’s carefully designed software.
A table with sales forecast information and charts displaying monthly and yearly sales projections follows.
FoodFun LIS’ competitive edge is their clever incorporation of entertaining fun within the education software. Currently, there are several different vendors that are marketing software for this niche, however, the software is strictly educational. While this is well and good for developing skills, the students are not always that eager to use the software. FoodFun has adopted the philosophy that if they can make the education/training fun, the students will use it far more often, having fun while they are learning valuable skills.
Two different studies (not developmental disability specific studies, but the results are still applicable) have shown that if students are enjoying themselves, they will spend 2.4 times as long using the software that they perceive as fun. What this means is that the student is spending 2.4 times as long developing necessary skills when they are enjoying the software. FoodFun has incorporated entertainment aspects to their software to utilize this phenomenon.
FoodFun’s marketing strategy reflects their perception of the industry: that most of the companies operating today are operated by educators; that they make nice products; but not many people know about the products, and overall awareness is poor. The reality is that so many prospective customers in the United States are unaware of the different available products. FoodFun will employ an aggressive marketing strategy to raise awareness of their products among customers who are in need of these products, and thereby increasing software purchases. FoodFun will be advertising heavily in various industry journals and magazines as a proven method of reaching the target audience. The ads will generate awareness of FoodFun LIS and will lead the customers to FoodFun’s website where they can demo the software. This strategy is based on the philosophy that you can have a great product, but if no one knows about it you are not going to be successful.
FoodFun will use an aggressive sales campaign that will rely on conference participation as well as target cold calling. There are numerous industry conferences throughout the country that are specifically for educators. The conferences are the places where people get together and share strategies that work with their colleagues in different departments and different states. While the conferences are not typically packed with vendors, FoodFun LIS will be present since the conferences are a captive assortment of the right people – the educators that are in the trenches working with the special students. The conferences will be an excellent networking opportunity and should develop significant sales.
The second prong of the sales strategy will be a campaign aimed at contacting key decision makers and introducing them to FoodFun LIS and their products. Autism consultants for school districts comprise one group that will be targeted. The districts often take the consultants’ recommendations when making purchasing decisions for special education. Research will be done to determine states’ education districts structures to determine if it is the ESD (educational service district) that is providing the services or if the money has been given to agencies to disperse to various service providers. This information will be valuable in determining who is the proper consumer for the special software. These personal contacts will help generate significant sales.
The following table and charts present sales forecasts in a monthly format as well as yearly projections. Forecasts have been conservatively estimated to increase the likelihood of attainment. Sales has been broken down by customer group.
A fulfillment house will be contracted to produce, package, and ship the hard copy software product to purchasers. Download of the software from the FoodFun LIS website will be available. This will drastically reduce cost of goods if purchasers use the download only purchase option.
Sales Forecast | |||
Year 1 | Year 2 | Year 3 | |
Sales | |||
Centers for Independent Living | $23,439 | $96,957 | $118,616 |
School Districts | $43,405 | $179,550 | $219,660 |
Proactive Parents | $9,983 | $41,297 | $50,522 |
Agencies | $19,966 | $82,593 | $101,044 |
Total Sales | $96,793 | $400,397 | $489,842 |
Direct Cost of Sales | Year 1 | Year 2 | Year 3 |
Centers for Independent Living | $1,641 | $6,787 | $8,303 |
School Districts | $3,038 | $12,569 | $15,376 |
Proactive Parents | $699 | $2,891 | $3,537 |
Agencies | $1,398 | $5,782 | $7,073 |
Subtotal Direct Cost of Sales | $6,776 | $28,028 | $34,289 |
FoodFun LIS has several milestones, presented in the following table and chart, which will be instrumental in the success of the organization.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Business plan completion | 1/1/2004 | 2/15/2004 | $0 | Sue | Busines Development |
Beta version completed | 2/1/2004 | 4/15/2004 | $0 | ABC | Programming |
Organizational hiring complete | 3/15/2004 | 5/1/2004 | $0 | Sue | HR |
Public release of software | 4/15/2004 | 5/15/2004 | $0 | ABC | Programming |
Profitability | 5/15/2004 | 5/30/2005 | $0 | Sue | Accounting |
Totals | $0 |
FoodFun will develop a website that will be used as both a marketing and sales tool. On the site interested parties can receive more information regarding the company and the current product list. Once the beta version of the software is ready interested customers can download a trial version of the software for their evaluation. The website will also provide people with company contact information to allow them to ask any questions that they may have.
Online sales will be contracted to one of the third party Internet sales businesses, such as Yahoo! Shopping. The site will provide customers with a download only purchase option.
The website will be marketed using simple yet effective means. The first method is inclusion of the URL address in all promotional activities. This will be especially important because it will allow all interested parties to view screen shots of the software and download a trial version of the product. FoodFun LIS recognizes that no ad will be able to communicate everything, therefore FoodFun will rely on the website to provide the additional information. The second marketing tool for the website will be comprehension search engine submission. The submission process will provide FoodFun will many visitors to the website. This will be accomplished when an interested party searches on “autism software” or some other set of keywords. The search engine will then list a number of “hits” that correspond to the search terms.
FoodFun will employ one computer science student for the design and development of the website. Development will occur concurrently with the development of the software.
Sue spent eight years teaching at Northwestern. While she taught a number of general special education classes, her passion was lifeskills for individuals with developmental disabilities, focusing on life transitions. In addition to teaching, Sue served as a member of the board of several different nonprofit agencies. Her time spent on the different boards was quite pleasing since it provided her with a bit more direct experience with the individuals in need. In the school setting most of her interactions was specifically with graduate and undergraduate students.
Sue began to realize as much as she enjoyed teaching, she felt isolated from the students that she was trying to help. She recognized that her work as an educator would in effect benefit the students, but she was looking for a different connection. Because she had an amazing amount of knowledge about the subject of special education, Sue began to brainstorm some ideas of starting a business that would serve individuals with developmental disabilities. While this intrigued Sue, she did not feel she had the requisite business experience, so she took several business courses to help develop this new skill set. While taking these course (and teaching at the same time) Sue began to realize that while there were many different study aids on the market, they were all strictly educational. Sue believed (and studies would indicate) that if a fun component was added to the aid, students would use it more often and learn more. With this information in hand, Sue began to create an idea for some software that was both educational and entertaining at the same time. This was the beginning of FoodFun Lifeskills Instructional Software.
FoodFun LIS will require the following employees:
Personnel Plan | |||
Year 1 | Year 2 | Year 3 | |
Sue | $22,000 | $26,000 | $30,000 |
Accounting | $16,200 | $21,600 | $21,600 |
Software Documentation | $19,800 | $26,400 | $26,400 |
Product Development | $15,400 | $26,400 | $26,400 |
Customer Service/ Tech Support | $19,800 | $26,400 | $26,400 |
Customer Service/ Tech Support | $19,800 | $26,400 | $26,400 |
Marketing/ Sales | $27,000 | $36,000 | $36,000 |
Marketing/ Sales | $27,000 | $36,000 | $36,000 |
Total People | 8 | 8 | 8 |
Total Payroll | $167,000 | $225,200 | $229,200 |
The following sections outline important financial information.
The following table details important financial assumptions.
General Assumptions | |||
Year 1 | Year 2 | Year 3 | |
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 10.00% | 10.00% | 10.00% |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% |
Tax Rate | 30.00% | 30.00% | 30.00% |
Other | 0 | 0 | 0 |
The Break-even Analysis is shown below.
Break-even Analysis | |
Monthly Revenue Break-even | $20,959 |
Assumptions: | |
Average Percent Variable Cost | 7% |
Estimated Monthly Fixed Cost | $19,492 |
The table and charts illustrate the projected profit and loss.
Pro Forma Profit and Loss | |||
Year 1 | Year 2 | Year 3 | |
Sales | $96,793 | $400,397 | $489,842 |
Direct Cost of Sales | $6,776 | $28,028 | $34,289 |
Other Costs of Goods | $0 | $0 | $0 |
Total Cost of Sales | $6,776 | $28,028 | $34,289 |
Gross Margin | $90,018 | $372,369 | $455,553 |
Gross Margin % | 93.00% | 93.00% | 93.00% |
Expenses | |||
Payroll | $167,000 | $225,200 | $229,200 |
Sales and Marketing and Other Expenses | $6,600 | $7,200 | $7,200 |
Depreciation | $1,800 | $1,800 | $1,800 |
Rent | $10,450 | $11,400 | $11,400 |
Utilities | $5,500 | $6,000 | $6,000 |
Insurance | $5,500 | $5,500 | $5,500 |
Payroll Taxes | $25,050 | $33,780 | $34,380 |
Programming | $12,000 | $0 | $0 |
Total Operating Expenses | $233,900 | $290,880 | $295,480 |
Profit Before Interest and Taxes | ($143,882) | $81,489 | $160,073 |
EBITDA | ($142,082) | $83,289 | $161,873 |
Interest Expense | $9,134 | $9,566 | $9,943 |
Taxes Incurred | $0 | $21,577 | $45,039 |
Net Profit | ($153,017) | $50,346 | $105,091 |
Net Profit/Sales | -158.09% | 12.57% | 21.45% |
The following chart and table show projected cash flow.
Pro Forma Cash Flow | |||
Year 1 | Year 2 | Year 3 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $24,198 | $100,099 | $122,460 |
Cash from Receivables | $46,108 | $217,218 | $342,905 |
Subtotal Cash from Operations | $70,306 | $317,317 | $465,366 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $40,000 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $70,306 | $357,317 | $465,366 |
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $167,000 | $225,200 | $229,200 |
Bill Payments | $75,294 | $124,114 | $152,785 |
Subtotal Spent on Operations | $242,294 | $349,314 | $381,985 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $16,227 | $16,227 | $16,227 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $258,521 | $365,541 | $398,212 |
Net Cash Flow | ($188,214) | ($8,224) | $67,154 |
Cash Balance | $25,286 | $17,062 | $84,215 |
The following table presents the projected balance sheet.
Pro Forma Balance Sheet | |||
Year 1 | Year 2 | Year 3 | |
Assets | |||
Current Assets | |||
Cash | $25,286 | $17,062 | $84,215 |
Accounts Receivable | $26,487 | $109,566 | $134,042 |
Inventory | $1,408 | $5,824 | $7,126 |
Other Current Assets | $0 | $0 | $0 |
Total Current Assets | $53,180 | $132,452 | $225,383 |
Long-term Assets | |||
Long-term Assets | $9,000 | $9,000 | $9,000 |
Accumulated Depreciation | $1,800 | $3,600 | $5,400 |
Total Long-term Assets | $7,200 | $5,400 | $3,600 |
Total Assets | $60,380 | $137,852 | $228,983 |
Liabilities and Capital | Year 1 | Year 2 | Year 3 |
Current Liabilities | |||
Accounts Payable | $7,124 | $10,477 | $12,744 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $7,124 | $10,477 | $12,744 |
Long-term Liabilities | $83,773 | $107,546 | $91,319 |
Total Liabilities | $90,897 | $118,023 | $104,063 |
Paid-in Capital | $145,000 | $145,000 | $145,000 |
Retained Earnings | ($22,500) | ($175,517) | ($125,171) |
Earnings | ($153,017) | $50,346 | $105,091 |
Total Capital | ($30,517) | $19,829 | $124,920 |
Total Liabilities and Capital | $60,380 | $137,852 | $228,983 |
Net Worth | ($30,517) | $19,829 | $124,920 |
The following table outlines some of the more important ratios from the Computer Software industry. The final column, Industry Profile, details specific ratios based on the industry as it is classified by the Standard Industry Classification (SIC) code, 5045.9903.
Ratio Analysis | ||||
Year 1 | Year 2 | Year 3 | Industry Profile | |
Sales Growth | 0.00% | 313.66% | 22.34% | 1.51% |
Percent of Total Assets | ||||
Accounts Receivable | 43.87% | 79.48% | 58.54% | 29.71% |
Inventory | 2.33% | 4.23% | 3.11% | 39.18% |
Other Current Assets | 0.00% | 0.00% | 0.00% | 19.28% |
Total Current Assets | 88.08% | 96.08% | 98.43% | 88.17% |
Long-term Assets | 11.92% | 3.92% | 1.57% | 11.83% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 11.80% | 7.60% | 5.57% | 43.83% |
Long-term Liabilities | 138.74% | 78.02% | 39.88% | 9.87% |
Total Liabilities | 150.54% | 85.62% | 45.45% | 53.70% |
Net Worth | -50.54% | 14.38% | 54.55% | 46.30% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 93.00% | 93.00% | 93.00% | 24.10% |
Selling, General & Administrative Expenses | 251.09% | 80.43% | 71.55% | 15.49% |
Advertising Expenses | 0.00% | 0.00% | 0.00% | 0.58% |
Profit Before Interest and Taxes | -148.65% | 20.35% | 32.68% | 2.35% |
Main Ratios | ||||
Current | 7.46 | 12.64 | 17.69 | 1.86 |
Quick | 7.27 | 12.09 | 17.13 | 0.86 |
Total Debt to Total Assets | 150.54% | 85.62% | 45.45% | 5.06% |
Pre-tax Return on Net Worth | 501.42% | 362.71% | 120.18% | 56.70% |
Pre-tax Return on Assets | -253.42% | 52.17% | 65.56% | 11.68% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | -158.09% | 12.57% | 21.45% | n.a |
Return on Equity | 0.00% | 253.90% | 84.13% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 2.74 | 2.74 | 2.74 | n.a |
Collection Days | 54 | 83 | 121 | n.a |
Inventory Turnover | 9.55 | 7.75 | 5.30 | n.a |
Accounts Payable Turnover | 11.57 | 12.17 | 12.17 | n.a |
Payment Days | 27 | 25 | 27 | n.a |
Total Asset Turnover | 1.60 | 2.90 | 2.14 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 0.00 | 5.95 | 0.83 | n.a |
Current Liab. to Liab. | 0.08 | 0.09 | 0.12 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $46,056 | $121,975 | $212,639 | n.a |
Interest Coverage | -15.75 | 8.52 | 16.10 | n.a |
Additional Ratios | ||||
Assets to Sales | 0.62 | 0.34 | 0.47 | n.a |
Current Debt/Total Assets | 12% | 8% | 6% | n.a |
Acid Test | 3.55 | 1.63 | 6.61 | n.a |
Sales/Net Worth | 0.00 | 20.19 | 3.92 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | |||||||||||||
Centers for Independent Living | 0% | $0 | $0 | $0 | $0 | $540 | $1,350 | $1,944 | $2,970 | $3,918 | $4,023 | $4,266 | $4,428 |
School Districts | 0% | $0 | $0 | $0 | $0 | $1,000 | $2,500 | $3,600 | $5,500 | $7,255 | $7,450 | $7,900 | $8,200 |
Proactive Parents | 0% | $0 | $0 | $0 | $0 | $230 | $575 | $828 | $1,265 | $1,669 | $1,714 | $1,817 | $1,886 |
Agencies | 0% | $0 | $0 | $0 | $0 | $460 | $1,150 | $1,656 | $2,530 | $3,337 | $3,427 | $3,634 | $3,772 |
Total Sales | $0 | $0 | $0 | $0 | $2,230 | $5,575 | $8,028 | $12,265 | $16,179 | $16,614 | $17,617 | $18,286 | |
Direct Cost of Sales | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Centers for Independent Living | $0 | $0 | $0 | $0 | $38 | $95 | $136 | $208 | $274 | $282 | $299 | $310 | |
School Districts | $0 | $0 | $0 | $0 | $70 | $175 | $252 | $385 | $508 | $522 | $553 | $574 | |
Proactive Parents | $0 | $0 | $0 | $0 | $16 | $40 | $58 | $89 | $117 | $120 | $127 | $132 | |
Agencies | $0 | $0 | $0 | $0 | $32 | $81 | $116 | $177 | $234 | $240 | $254 | $264 | |
Subtotal Direct Cost of Sales | $0 | $0 | $0 | $0 | $156 | $390 | $562 | $859 | $1,133 | $1,163 | $1,233 | $1,280 |
Personnel Plan | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sue | 0% | $0 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 |
Accounting | 0% | $0 | $0 | $0 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 | $1,800 |
Software Documentation | 0% | $0 | $0 | $0 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 |
Product Development | 0% | $0 | $0 | $0 | $0 | $0 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 |
Customer Service/ Tech Support | 0% | $0 | $0 | $0 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 |
Customer Service/ Tech Support | 0% | $0 | $0 | $0 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 | $2,200 |
Marketing/ Sales | 0% | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
Marketing/ Sales | 0% | $0 | $0 | $0 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 |
Total People | 0 | 1 | 1 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
Total Payroll | $0 | $2,000 | $2,000 | $16,400 | $16,400 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 |
General Assumptions | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Plan Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | |
Current Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Long-term Interest Rate | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | |
Tax Rate | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | 30.00% | |
Other | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pro Forma Profit and Loss | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Sales | $0 | $0 | $0 | $0 | $2,230 | $5,575 | $8,028 | $12,265 | $16,179 | $16,614 | $17,617 | $18,286 | |
Direct Cost of Sales | $0 | $0 | $0 | $0 | $156 | $390 | $562 | $859 | $1,133 | $1,163 | $1,233 | $1,280 | |
Other Costs of Goods | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Cost of Sales | $0 | $0 | $0 | $0 | $156 | $390 | $562 | $859 | $1,133 | $1,163 | $1,233 | $1,280 | |
Gross Margin | $0 | $0 | $0 | $0 | $2,074 | $5,185 | $7,466 | $11,406 | $15,046 | $15,451 | $16,384 | $17,006 | |
Gross Margin % | 0.00% | 0.00% | 0.00% | 0.00% | 93.00% | 93.00% | 93.00% | 93.00% | 93.00% | 93.00% | 93.00% | 93.00% | |
Expenses | |||||||||||||
Payroll | $0 | $2,000 | $2,000 | $16,400 | $16,400 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | |
Sales and Marketing and Other Expenses | $0 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | $600 | |
Depreciation | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | $150 | |
Rent | $0 | $950 | $950 | $950 | $950 | $950 | $950 | $950 | $950 | $950 | $950 | $950 | |
Utilities | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Insurance | $0 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | |
Payroll Taxes | 15% | $0 | $300 | $300 | $2,460 | $2,460 | $2,790 | $2,790 | $2,790 | $2,790 | $2,790 | $2,790 | $2,790 |
Programming | $3,000 | $3,000 | $3,000 | $3,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Total Operating Expenses | $3,150 | $8,000 | $8,000 | $24,560 | $21,560 | $24,090 | $24,090 | $24,090 | $24,090 | $24,090 | $24,090 | $24,090 | |
Profit Before Interest and Taxes | ($3,150) | ($8,000) | ($8,000) | ($24,560) | ($19,486) | ($18,905) | ($16,624) | ($12,684) | ($9,044) | ($8,639) | ($7,706) | ($7,084) | |
EBITDA | ($3,000) | ($7,850) | ($7,850) | ($24,410) | ($19,336) | ($18,755) | ($16,474) | ($12,534) | ($8,894) | ($8,489) | ($7,556) | ($6,934) | |
Interest Expense | $823 | $812 | $801 | $790 | $779 | $767 | $756 | $745 | $733 | $722 | $710 | $698 | |
Taxes Incurred | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Net Profit | ($3,973) | ($8,812) | ($8,801) | ($25,350) | ($20,265) | ($19,673) | ($17,380) | ($13,428) | ($9,777) | ($9,361) | ($8,416) | ($7,782) | |
Net Profit/Sales | 0.00% | 0.00% | 0.00% | 0.00% | -908.73% | -352.87% | -216.49% | -109.48% | -60.43% | -56.35% | -47.77% | -42.56% |
Pro Forma Cash Flow | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $0 | $0 | $0 | $0 | $558 | $1,394 | $2,007 | $3,066 | $4,045 | $4,153 | $4,404 | $4,572 | |
Cash from Receivables | $0 | $0 | $0 | $0 | $0 | $56 | $1,756 | $4,243 | $6,127 | $9,297 | $12,145 | $12,485 | |
Subtotal Cash from Operations | $0 | $0 | $0 | $0 | $558 | $1,450 | $3,763 | $7,309 | $10,172 | $13,450 | $16,549 | $17,057 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 0.00% | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $0 | $0 | $0 | $0 | $558 | $1,450 | $3,763 | $7,309 | $10,172 | $13,450 | $16,549 | $17,057 | |
Expenditures | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Expenditures from Operations | |||||||||||||
Cash Spending | $0 | $2,000 | $2,000 | $16,400 | $16,400 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | $18,600 | |
Bill Payments | $127 | $3,917 | $6,661 | $6,722 | $8,733 | $6,766 | $6,140 | $7,096 | $7,096 | $7,413 | $7,261 | $7,361 | |
Subtotal Spent on Operations | $127 | $5,917 | $8,661 | $23,122 | $25,133 | $25,366 | $24,740 | $25,696 | $25,696 | $26,013 | $25,861 | $25,961 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $1,291 | $1,302 | $1,313 | $1,324 | $1,335 | $1,346 | $1,357 | $1,369 | $1,380 | $1,392 | $1,403 | $1,415 | |
Purchase Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $1,419 | $7,219 | $9,974 | $24,446 | $26,468 | $26,712 | $26,098 | $27,064 | $27,076 | $27,404 | $27,265 | $27,375 | |
Net Cash Flow | ($1,419) | ($7,219) | ($9,974) | ($24,446) | ($25,910) | ($25,262) | ($22,335) | ($19,755) | ($16,904) | ($13,955) | ($10,715) | ($10,319) | |
Cash Balance | $212,081 | $204,862 | $194,888 | $170,441 | $144,531 | $119,269 | $96,934 | $77,178 | $60,274 | $46,320 | $35,604 | $25,286 |
Pro Forma Balance Sheet | |||||||||||||
Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $213,500 | $212,081 | $204,862 | $194,888 | $170,441 | $144,531 | $119,269 | $96,934 | $77,178 | $60,274 | $46,320 | $35,604 | $25,286 |
Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $1,673 | $5,798 | $10,063 | $15,019 | $21,026 | $24,190 | $25,258 | $26,487 |
Inventory | $0 | $0 | $0 | $0 | $0 | $844 | $454 | $892 | $1,033 | $1,246 | $1,279 | $1,357 | $1,408 |
Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Total Current Assets | $213,500 | $212,081 | $204,862 | $194,888 | $170,441 | $147,047 | $125,520 | $107,889 | $93,231 | $82,546 | $71,789 | $62,218 | $53,180 |
Long-term Assets | |||||||||||||
Long-term Assets | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 | $9,000 |
Accumulated Depreciation | $0 | $150 | $300 | $450 | $600 | $750 | $900 | $1,050 | $1,200 | $1,350 | $1,500 | $1,650 | $1,800 |
Total Long-term Assets | $9,000 | $8,850 | $8,700 | $8,550 | $8,400 | $8,250 | $8,100 | $7,950 | $7,800 | $7,650 | $7,500 | $7,350 | $7,200 |
Total Assets | $222,500 | $220,931 | $213,562 | $203,438 | $178,841 | $155,297 | $133,620 | $115,839 | $101,031 | $90,196 | $79,289 | $69,568 | $60,380 |
Liabilities and Capital | Month 1 | Month 2 | Month 3 | Month 4 | Month 5 | Month 6 | Month 7 | Month 8 | Month 9 | Month 10 | Month 11 | Month 12 | |
Current Liabilities | |||||||||||||
Accounts Payable | $0 | $3,695 | $6,440 | $6,429 | $8,506 | $6,562 | $5,904 | $6,860 | $6,849 | $7,171 | $7,016 | $7,115 | $7,124 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $0 | $3,695 | $6,440 | $6,429 | $8,506 | $6,562 | $5,904 | $6,860 | $6,849 | $7,171 | $7,016 | $7,115 | $7,124 |
Long-term Liabilities | $100,000 | $98,709 | $97,406 | $96,094 | $94,770 | $93,435 | $92,089 | $90,731 | $89,363 | $87,983 | $86,591 | $85,188 | $83,773 |
Total Liabilities | $100,000 | $102,404 | $103,846 | $102,523 | $103,276 | $99,997 | $97,992 | $97,591 | $96,211 | $95,154 | $93,607 | $92,303 | $90,897 |
Paid-in Capital | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 | $145,000 |
Retained Earnings | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) | ($22,500) |
Earnings | $0 | ($3,973) | ($12,784) | ($21,585) | ($46,935) | ($67,200) | ($86,872) | ($104,252) | ($117,680) | ($127,458) | ($136,819) | ($145,235) | ($153,017) |
Total Capital | $122,500 | $118,527 | $109,716 | $100,915 | $75,565 | $55,300 | $35,628 | $18,248 | $4,820 | ($4,958) | ($14,319) | ($22,735) | ($30,517) |
Total Liabilities and Capital | $222,500 | $220,931 | $213,562 | $203,438 | $178,841 | $155,297 | $133,620 | $115,839 | $101,031 | $90,196 | $79,289 | $69,568 | $60,380 |
Net Worth | $122,500 | $118,527 | $109,716 | $100,915 | $75,565 | $55,300 | $35,628 | $18,248 | $4,820 | ($4,958) | ($14,319) | ($22,735) | ($30,517) |
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Discover the world’s #1 plan building software
Dec 14, 2023
24 mins read
Table of Contents
Behind every on-time, on-budget, and seamless software lies a solid and comprehensive software development plan. It’s the strategic roadmap that aligns resources, budget, and timelines, preventing potential project risks and assuring a smooth journey from concept to execution.
In this article, we will help you create a software development plan from scratch, by digging into fundamental knowledge, step-by-step guide, and best practices, and providing a popular software development plan template. Let’s get cracking!
A software development plan (SDP) is a strategic roadmap that outlines the entire software development life cycle ( SDLC ) , including goals, resources, budget, and timeline. It helps ensure efficient development, resource management, risk prevention, cost control, and successful software delivery.
A well-crafted project plan for software development sets the foundation for a smooth software development project and acts as a bridge between development teams and stakeholders, ensuring everyone is on the same page. In contrast, a development project without guidance can lead to delays, budget overruns, and potential chaos.
A comprehensive software development life cycle project plan includes the following key elements:
How to plan a software development project? Here are some key phases included in creating a software development plan:
Start your software implementation project plan by analyzing the requirements requested by the client. Here are some crucial factors to consider:
After deeply understanding the client’s requirements for the project, the next step is identifying the software project’s goals and objectives. A clear objective provides a clear view of the roadmap and the final destination for the team.
A well-defined objective and requirement right from the start is essential in a successful software development plan. It is the foundational “compass” to avoid misunderstandings, ensuring everyone understands the project’s purpose .
The project’s objectives defining phase includes specifying intentions, visions, and preferred endpoint. Applying formulas like SMART criteria (Specific, Measurable, Achievable, Relevant, Time-bound) can make objectives more concrete and actionable.
Based on the objectives defined in Step 2, you can form a development team with roles and capabilities that match the project’s scope and meet customer expectations.
This step is critical, especially in a Waterfall or Scrum project . Picking the proper member right from the start decides the project’s success in meeting the quality and delivery time.
When it comes to agile software development projects, the team will be divided into smaller independent units. Each sub-team has its focus on distinct development phases.
In other scenarios, the project might need an outsourced team for certain tasks. Therefore, identifying involved stakeholders is also crucial in this step. In case your team has never cooperated with an external team before, here comes a list of 10 reliable agile offshore software development companies that are worth considering.
Lastly, after the full team is formed, assigning a project manager becomes essential for efficiently managing the entire team. The ideal project manager should possess prior experience in a similar or relevant project type, and have an in-depth knowledge of the domain.
Now, when the clients, developers, stakeholders, and other parties are involved, the whole team can sit down together and identify potential challenges and develop a mitigation plan accordingly.
To create a thorough plan, the team needs to go through end-to-end production stages , covering from development, testing, UI/UX design, and system integration to product launch.
In order to effectively manage risk, your team can leverage popular tools that help spot all possible issues like the risk matrix , also known as a probability and severity risk matrix. This allows demonstrate the probability of a problem occurring and predict its consequences . In case you are delegating your software development project to an outsourced team, make sure they are qualified with risk management certifications.
LTS Group is an ISO 9001:2015 certified company which ensures that all of our project managers and technical leaders are fully aware of risk management and how to mitigate and eliminate risk throughout the software development process.
Developing a software development project timeline with realistic deadlines , and milestones helps in setting expectations, and monitoring and tracking the progress.
Milestones included in the development process could be “design phase complete”, “MVP version complete”, etc. These milestones determine tentative deadlines that allow clients, stakeholders, and internal teams to seamlessly keep track of the software delivery timeline.
Before finalizing the timeline, make sure to have all the team member’s agreement. Any suggestions from the team members about extending deadlines, or any other arising tools, etc., should be discussed and agreed upon starting the project. This ensures no unexpected incidents will interrupt the software development process.
In this ever-evolving technology industry, being flexible and adaptive is crucial to stay ahead of the game. Linear as the software development plan may seem, the project manager or team leader can collect project data and analyze it to make adjustments to the plan if needed to enhance efficiency.
This step requires a metric to track and evaluate the project’s performance and quality. Without these metrics and measurements, there won’t be useful data to analyze to make informed decisions and manage the project effectively.
A project plan template for software development is a valuable “assistant” for an effective software project management plan and organization. It benefits your team in specifying requirements, organizing key details, and streamlining tasks by providing a standard outline.
A well-designed software development plan template will help your team focus on the informed decision-making process , and the specialized work , by covering the following functions:
So, what makes a good software development template? Despite differing in specific functions, all the great software development plan templates share the following common characteristics:
Are you ready to map out a timeline for your next software development project? Check out the following 5 major software development plan examples:
Download a Simple Software Project Plan Template
This simple software project planning template provides a straightforward task-based guideline for development execution.
How it works: Enter your project’s detailed information including
With sprint-based swimlanes , this template allows your team to organize the project’s primary tasks . For each task, input the due date, and status, assign a person in charge, and monitor the completion percentages.
When to use: This template is best for projects that require a simple, task-centric guide for software development planning and execution.
Download a Software Development Project Plan Template
This comprehensive template offers a Gannt chart for effective visual software project timeline planning.
How it works: This template features functions like a Work Breakdown Structure (WBS) task numbering, due date column, estimated work in hours, and task owner column . With the visual-centric Gannt chart interface, this template allows your team to have a clear and easy-to-skim of the project timeline, tasks, and progress. In addition, a burndown chart provides the amount of remaining and completed work for each sprint.
When to use: This template is ideal for projects that require a comprehensive landscape , suitable for various methodologies.
Download a Software Deployment Project Plan Template
This software deployment project template serves as a Waterfall or Agile tool to ensure that your project deliverables are on the right track .
How it works: For each task, input your project’s detailed information including track status (eg. Planned, Ongoin, Done), story points, and set deployment due dates. This template also concludes an “At risk” column which allows you to identify the tasks that miss the deployment deadline.
When to use: This template is applied when planning deployment projects, most adaptable to Waterfall and Agile methodologies .
Download a Software Rollout and Implementation Plan Template
Agile software development plan template is an all-inclusive management tool for Agile software development projects, guiding you through project completion with sprint and task-based swimlanes.
How it works: Enter story points for each sprint’s task and feature to consider each factor accurately , and then determine how it affects the project’s overall success. By this, your team can account for every feature and component that must be completed by the end of each sprint or the overall project. With the overall progress field in this template, your team can follow tabs on the completion percentage of each sprint or the overall project.
When to use: This template is applied when planning and executing Agile software development projects , ensuring comprehensive management coverage .
Download a Software Migration Plan Template
This software migration template provides a high-level overview of your major software migration projects.
How it works: This template includes built-in tasks such as assessing potential risks, identifying the opportunity, and more. The dropdown menu under each task allows you to choose the subtasks f or detailed software planning, including reviewing implementation strategy, and needed resources, or identifying operating costs.
When to use: This template is ideal for planning software migrations , ensuring a strategic approach.
Creating a software development plan is challenging. Being aware of possible risks will help you avoid costly damages. Here are some reasons leading to possible failure of a software development plan that you have to pay attention to:
An effective software development plan refers to successful project management and execution. It helps foster collaboration and transparency in a project and avoid overruns in deadlines and budgets.
Here a some important aspects of the software development plan:
1. what is a software development plan.
A software development plan is a comprehensive roadmap for your software project. It helps outline the entire process and strategy for developing software, including timelines, resources, and tasks required to meet the project’s needs. The plan acts as a structured guideline for the development team and stakeholders throughout the project.
Planning a software development project involves the following key steps: Analyzing the project’s scope and requirements , Defining project objectives , Building an effective software development team , Identifying risks and mitigation , Creating a timeline , and Continually reviewing and adjusting the project plan. Each step needs the involvement of every member from different departments to ensure alignment, facilitate a collective understanding, and adjust necessary changes in the initial stages.
A comprehensive software development plan requires several key elements. This includes clear project goals and requirements ; specific timelines and milestones , suitable roles and responsibilities allocation , and effective budget oversight . In addition, each element needs regular feedback , approval mechanisms , and change management to ensure a well-managed and systematic process.
The planning process of a software development project is as important as the implementation of it. The software development plan acts as a foundation, laying the groundwork for the overall project’s success.
A well-defined software development plan serves as a guide to keep the project on track, and on budget , and avoid possible risks like delays, budget overruns, and quality issues.
However, creating a software development plan is challenging. We hope that our guidance, tips, and software development templates can provide you with a more comprehensive understanding and help you save time in customizing your effective plan. If you find yourself in need of further guidance or professional advice, reach out to LTS Group’s experts – we are here to help!
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Meet Ashley Nguyen, our dedicated Content Marketing specialist with a passion for digital transformation, AI, and software development. Ashley's words bridge the gap between complex tech concepts and everyday understanding. Her insightful pieces not only educate but also inspire readers to embrace the ever-evolving landscape of innovation. Join her in exploring the evolving landscape of technology and innovation. Contact her at [email protected]
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Jul 26, 2024
18 min read
With the global number of mobile phone users projected to reach 7.49 billion in 2025 by Statista, it’s clear that businesses have long ceased debating whether to build a mobile app. Instead, the focus has shifted to which mobile development approach is the most optimal: native, web, or hybrid app development. Making this decision is not an easy task, necessitating the deliberation of many different factors like budget, timeline, user interface (UI), user experience (UX), maintenance needs, and the skill set of the development team. Hybrid mobile app development, in particular, has gained significant traction recently. The Ionic Developer Survey, which gathered insights from over 13,000 developers, revealed that 32.7% of developers plan to move away from native development in favor of hybrid. Additionally, there has been a nearly 700% decrease in developers exclusively using native tools. In this article, we cover everything organizations should know about hybrid app development, from deciding when to develop hybrid apps to step-by-step instructions on building them, along with detailed insights into project costs, and much more. So, let’s get started! Table of Contents Toggle What is Hybrid App Development?When to Develop Hybrid Apps?How to Build a Hybrid App?Step 1. Planning the hybrid appStep 2. Setting up the development environmentStep 3. Building app architecture Step 4: Designing the user interfaceStep 5: Coding app functionalitiesStep 6: Testing and debuggingStep 7: Deploying and publishing the appStep 8: Monitoring and maintainingHow Much Does Hybrid App Development Cost?Pros and Cons of Hybrid App DevelopmentFAQs about Hybrid App DevelopmentFinal Thoughts about Hybrid App Development What is Hybrid App Development? Hybrid app development refers to building a unified application using a single codebase that could function across multiple platforms, from Android and iOS to Windows and more. What is Hybrid App Development In contrast to native app development, which requires platform-specific programming languages for different operating systems (OS), hybrid app development utilizes a unified code base compatible with all OS. For further insights into the differences between native vs hybrid mobile app development, check out our article An ultimate guide to native app development for enterprises in 2024. Essentially, hybrid apps work like web apps but are installed on devices like native apps. Similar to web apps, developers typically create hybrid apps using HTML5, CSS, and JavaScript. The device’s browser engine then renders such languages and native APIs to interact with device-specific hardware. Prominent hybrid app examples are Gmail, Instagram, and Uber: Gmail utilizes JavaScript, AJAX, jQuery, and Vue.js for its front end. Instagram is developed using React Native. Uber employs Base, a web React UI framework, for the front end of its mobile apps. When to Develop Hybrid Apps? Now, the burning question of all is how to know if hybrid is the right choice for your business. Here are 5 scenarios where hybrid app development should be your next strategic move: When to Develop Hybrid Apps Multiple platform compatibility If your company aims to support multiple platforms like iOS and Android with minimal development effort, hybrid apps offer a compelling solution. They leverage a single codebase that operates across different OS, eliminating the need for separate development. Lack of specialized coding knowledge Unlike native apps that require proficiency in platform-specific languages, hybrid apps can be built with less specialized coding knowledge, making it easier to hire developers skilled in web technologies. Basic feature requirements Hybrid apps are sufficient if your app does not require advanced native features. Plus, even features that involve constant iteration like notifications, can be seamlessly integrated within hybrid apps using webviews, thereby simplifying the development process. Budget constraints Hybrid app development is cost-effective, particularly when compared to the expenses associated with developing and maintaining APIs for native apps. This approach helps businesses get native-like functionality within a limited budget. Speed trade-off While hybrid apps may be slower than native apps due to browser-based operations, they offer a balanced trade-off for rapid development and cross-platform compatibility. Therefore, they remain a viable option when speed isn’t a big concern to your business. Launch Your Hybrid Apps with LTS Group Today How to Build a Hybrid App? Creating hybrid apps means developers leverage both web technologies and native capabilities. Below is a detailed walkthrough of 8 fundamental steps in building a hybrid app: How to Build a Hybrid App Step 1. Planning the hybrid app In this planning phase, start by defining the hybrid app’s objectives, target audience, and key features. Conducting comprehensive market research and competitor analysis plays an equally important role, helping your organization identify: industry trends, potential business opportunities rival apps’ strengths and weaknesses. The next sub-step to take is selecting suitable tech stacks for the hybrid mobile application. With the advantage of writing code once for the deployment on Android, iOS, and web versions, hybrid application development is already much more manageable. Below, we handpicked a list of the top 5 widely used hybrid app development frameworks: Flutter Introduced by Google, Flutter has rapidly gained popularity for its speed, reliability, and ability to create visually stunning UIs with flexible designs. For 3 consecutive years from 2021 to 2023, it was the most popular hybrid mobile framework, as reported by Statista report. Many major brands such as Amazon, Alibaba, BMW, and Toyota have leveraged Flutter for their applications. React Native Created by Facebook, React Native is favored for its speed, convenience, and cost-effectiveness. It supports the development of applications for large organizations like Uber, Skype, Bloomberg, and Instagram. Ionic Utilizing HTML, CSS, and JavaScript, Ionic offers built-in support for AngularJS, making it ideal for front-end development. It simplifies the creation of progressive web apps (PWAs) and provides premium UI design components. Xamarin Xamarin is known for its code reuse efficiency, allowing developers to reuse a substantial portion of their codebase on different platforms. However, it may lag behind in updates compared to Google and Apple, which can lead to compatibility issues. NativeScript NativeScript is specially designed for developers proficient in JavaScript, TypeScript, or Angular. Applications built with NativeScript deliver a native user experience on all mobile platforms. Step 2. Setting up the development environment The second phase revolves around setting up the development environment for the hybrid app, which necessitates several key tasks as follows: Installing necessary hybrid mobile app development tools and software: First, hybrid mobile app developers need to download their preferred frameworks, whether it’s Ionic, React Native, Xamarin, or Flutter. It’s also recommended that your team’s development efforts be streamlined with a single integrated development environment (IDE) like Visual Studio Code and IntelliJ IDEA. Configuring the development environment: Once the required technologies are installed, it’s time to configure the IDE and set up the software development kit (SDK). Setting up testing devices: Configuring testing devices, whether they’re physical or virtual, is the next important task. Step 3. Building app architecture The success of an app hinges greatly on its architecture, which encompasses crucial elements such as code structure and data storage methods. A well-planned architecture ensures easier mobile app maintenance and future updates, which can be achieved through the following essential steps: Creating project structure: Simply establishing a project folder and organizing it with directories for HTML, CSS, JavaScript, and other essential resources. Setting up main HTML, CSS, and JavaScript files: Developing the foundational files that define the app’s structure and user interface. For example, CSS files handle styling, while HTML documents provide the framework for the app’s graphical elements. Integrating libraries and frameworks: Incorporating vital libraries and frameworks like Cordova and React Native to enable hybrid functionalities and integrate native features seamlessly. Step 4: Designing the user interface A poor mobile experience can deter 52% of users from engaging with a company. Therefore, creating an attractive and high-quality design is crucial for the application’s success. Every interface detail must be meticulously planned to ensure a delightful user experience. Creating visually appealing UI and UX elements: Great effort should be put into crafting aesthetically pleasing UI and UX by designing clear layouts, appropriate color schemes, and visually engaging elements to enhance the overall look and feel of the hybrid app. Implementing responsive design principles: Designers should employ responsive design techniques to create an optimal user experience across different devices and screen sizes. Using CSS frameworks for efficient styling: To expedite the styling process and boost productivity, your team can leverage CSS frameworks like Bulma, Materialize, and Bootstrap. These frameworks provide pre-designed themes and components that can be easily customized to meet the app’s design requirements. Step 5: Coding app functionalities With the app architecture and user interface established, the next step is coding to develop a high-performing, robust, and secure back end with desired functionalities. The duration of this stage varies based on the complexity and volume of tasks. And of course, implementing extensive and complex features takes more time; however, on average, it takes around 3 to 4 months to develop a prototype or MVP – a simplified version of the application containing only the core functionalities. Step 6: Testing and debugging Once functionalities are built, your team needs to test them to confirm the app looks and functions as intended. This step includes testing both the front end and back end, and addressing any issues that arise. Conducting usability and functional testing: To verify that the hybrid app works as planned and provides a smooth user experience, functional testing and usability testing come on the scene. Debugging common issues and errors: Developers must proactively review, identify, and fix issues and errors throughout the development and testing phases for a reliable, bug-free application. Optimizing app performance and responsiveness: App performance substantially contributes to a satisfactory user experience. Thus, try to prioritize script optimization, reduce load times, and minimize app size. Step 7: Deploying and publishing the app Before releasing the app, it must undergo final preparations to guarantee it meets all standards and requirements: Preparing the app for release: The app should undergo comprehensive testing, optimization, and final checks to make sure it’s ready for release. Apart from app feature assessment, your team has to stay compliant with the guidelines of Google Play Store or App Store and prepare all required assets and documentation. Registering for a developer account: To publish the app on Google Play Store and App Store, your team needs a developer account, which can be easily registered after providing necessary information, agreeing to terms and conditions, and submitting a one-time registration fee. Publishing the app: Once the developer profile is set up, the hybrid app is ready to be launched! Step 8: Monitoring and maintaining Monitoring and maintaining a hybrid mobile application encompasses several crucial activities to achieve continued success and user satisfaction: Implementing analytics to track user behavior: Many analytics tools can be integrated to monitor how users interact with the hybrid app, analyze usage patterns, and identify popular features. Gathering user feedback and resolving bug reports: Continuous improvement necessitates actively gathering user feedback and promptly addressing bug reports. By soliciting input and responding to issues, your team can boost app performance, identify user pain points, and prioritize new features. Carrying out regular app updates and improvements: Regular updates are essential to maintaining the app’s competitiveness and relevance. Based on user feedback and market trends, your team can consider adding new features to improve existing functionality and optimize performance. PRO TIP: Streamline these 8 phases by partnering with a trusted hybrid app development company! To choose the right partner, factor in 4 crucial aspects including expertise, cost, post-launch services, and communication for a successful collaboration. Learn more: Mobile app development outsourcing in 2024: How to make it work On the lookout for a reputable company providing top-notch hybrid app development services? Look no further than LTS Group. With over 8 years of experience and a track record of delivering comprehensive software solutions, we specialize in creating and enhancing not just iOS and Android apps, but also hybrid apps. Rest assured that partnering with us gives your company access to a team of seasoned developers dedicated to delivering robust and efficient customized hybrid apps. Launch Your Hybrid Apps with LTS Group Today How Much Does Hybrid App Development Cost? Hybrid mobile app development cost varies greatly depending on the app’s complexity and features. Nevertheless, it generally proves more cost-effective than its native counterpart thanks to shared codebases across platforms. Here’s a quick look at the expense of building hybrid apps, categorized by their intricacy: How Much Does Hybrid App Development Cost Basic hybrid mobile apps: These apps are simpler in nature and quicker to develop, typically costing around $10,000. Medium-complex hybrid mobile apps: More sophisticated apps with advanced features may range from $10,000 to $50,000 and take 2-3 months to complete. Enterprise hybrid mobile apps: These applications are highly complex, requiring extensive features and customization. Development timelines can extend from 3 to 6 months, with costs ranging from $50,000 to $150,000. Pros and Cons of Hybrid App Development Hybrid mobile application development offers cost-effectiveness, shorter development times, and ease of scalability. However, it can face performance limitations, varied user experience on different platforms, and potential gaps in feature availability. For more information, refer to the table below: Pros of Hybrid App Development Cons of Hybrid App Development Cross-platform compatibility: Hybrid apps run on multiple platforms with a single codebase, thereby saving time and resources. Performance limitations: Hybrid apps may be slower due to heavier code and may lack certain native features. Shorter development time: Reusing code across platforms reduces development time compared to native app development. Gap in user experience quality: Due to reliance on a single codebase, user experience may not be the same on different platforms, which can cause a lack of tailored feel in native apps. Easy scalability: Leveraging web technologies and a unified codebase makes scaling hybrid apps simpler and more efficient. Availability of features: Not all new features are universally supported in the hybrid version, so chances are some native functionalities may not be available in hybrid apps. Cost-effective: Lower development and maintenance costs make hybrid apps a budget-friendly choice. Test complexity: Testing hybrid apps across multiple platforms requires thorough testing to ensure compatibility and functionality, adding to development time and expenses. Ease of development: Simplified development process results from familiar web technologies like HTML, CSS, JavaScript, and frameworks like Xamarin, Flutter, and React Native. Limited access to latest device features: Due to dependency on third-party frameworks, hybrid apps may fall behind regarding access to the newest device features and APIs introduced by platforms like Google and Apple. FAQs about Hybrid App Development What is hybrid application development? Hybrid app development refers to building a unified application using a single codebase that could function across multiple platforms, from Android and iOS to Windows and more. What are examples of hybrid apps? Gmail: Uses JavaScript, AJAX, jQuery, and Vue.js for its front end. Instagram: Built with React Native, focusing on image-centric social media interactions. Uber: Utilizes Base, a React UI framework, through its mobile web interface m.uber.com, providing a seamless webview experience on mobile devices. X: Employs Node.js, Express, and React Native in its front-end stack, functioning as a progressive web app (PWA) that offers enhanced UI performance through progressive loading of UI layers. How much does it cost to develop a hybrid app? Hybrid mobile apps cost from around $10,000 to $150,000+ depending on app complexity, features, development duration, and team expertise: Basic apps: Around $10,000. Medium-complex apps: $10,000 to $50,000. Enterprise apps: $50,000 to $150,000 or more. Final Thoughts about Hybrid App Development Given that building mobile apps individually for each platform is costly and resource-intensive, hybrid app development stands as a compelling alternative, boasting cross-platform compatibility, cost efficiency, quicker time-to-market, and more. However, it’s essential to weigh development expenses, timeline, target audience, etc., before finalizing your company’s mobile development approach. Once the decision is made, the development process should commence: Start by planning the hybrid application, setting up the development environment, building the app architecture, designing the user interface, developing functionalities, testing and debugging, deploying and publishing, and finally, monitoring and maintaining the app. Eager to build your own hybrid app but struggling to find skilled developers? LTS Group is here to help! With a dedicated team of experienced professionals in hybrid app development, along with our competitive pricing, robust security measures, and expertise across various industries, we stand out in the crowded IT outsourcing landscape. Launch Your Hybrid Apps with LTS Group Today { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What is hybrid application development?", "acceptedAnswer": { "@type": "Answer", "text": "Hybrid app development refers to building a unified application using a single codebase that could function across multiple platforms, from Android and iOS to Windows and more." } },{ "@type": "Question", "name": "What are examples of hybrid apps?", "acceptedAnswer": { "@type": "Answer", "text": "Gmail: Uses JavaScript, AJAX, jQuery, and Vue.js for its front end. Instagram: Built with React Native, focusing on image-centric social media interactions. Uber: Utilizes Base, a React UI framework, through its mobile web interface m.uber.com, providing a seamless webview experience on mobile devices. X: Employs Node.js, Express, and React Native in its front-end stack, functioning as a progressive web app (PWA) that offers enhanced UI performance through progressive loading of UI layers." } },{ "@type": "Question", "name": "How much does it cost to develop a hybrid app?", "acceptedAnswer": { "@type": "Answer", "text": "Hybrid mobile apps cost from around $10,000 to $150,000+ depending on app complexity, features, development duration, and team expertise: Basic apps: Around $10,000. Medium-complex apps: $10,000 to $50,000. Enterprise apps: $50,000 to $150,000 or more." } }] }
Jul 4, 2024
4 mins read
LTS Group is proud to announce the signing of a Memorandum of Understanding (MOU) with Korea Virtual Reality Inc., a prominent Korean company specializing in 3D spatial data authoring technology and metaverse platform services. The MOU signing ceremony was held at the headquarters of Korea Virtual Reality Inc., attended by officials from both companies, marking the beginning of a promising partnership. Table of Contents Toggle A Strategic CollaborationSynergizing Strengths for Global LeadershipA Future of Innovation and GrowthAbout Korea Virtual Reality Inc.About LTS Group A Strategic Collaboration This MOU signifies a strategic collaboration between LTS Group and Korea Virtual Reality Inc., aiming to leverage each other’s strengths and expertise. The two companies will work together in various fields such as 3D spatial data generation, 3D spatial data labeling for AI learning, and the development of metaverse and VR software. This partnership is poised to enhance the competitiveness of both companies in the global market and drive innovative technology development. The signing of a Memorandum of Understanding (MOU) with Korea Virtual Reality Inc. Synergizing Strengths for Global Leadership Korea Virtual Reality Inc. is renowned for its cutting-edge 3D spatial data generation authoring tools, while LTS Group brings extensive IT outsourcing capabilities to the table. By combining these strengths, both companies aim to reinforce their leadership in the global IT market. This collaboration is expected to yield significant advancements in AI, metaverse, and 3D spatial data labeling technologies. An authority from Korea Virtual Reality Inc. stated, “Cooperation with LTS Group will be an important opportunity to further develop our AI spatial data foundry technology and strengthen our position in the global market. We will continue to promote innovative technology development through close cooperation between the two companies.” Similarly, a representative from LTS Group commented, “This agreement with Korea Virtual Reality Inc. will be an important stepping stone for LTS Group to take a leap forward in the global IT outsourcing market. We expect to be able to provide higher satisfaction to customers in the AI era by combining the strengths of both companies.” A strategic collaboration between LTS Group and Korea Virtual Reality Inc. A Future of Innovation and Growth With this MOU, LTS Group and Korea Virtual Reality Inc. are set to lead the way in innovation and growth in the global IT market. The collaboration is expected to expand into various fields, continuously driving technological advancements and delivering greater value to customers worldwide. Stay tuned for more updates as we embark on this transformative journey and witness the groundbreaking developments that emerge from this powerful partnership. About Korea Virtual Reality Inc. Korea Virtual Reality Inc. is a pioneering company in the field of 3D spatial data authoring technology and metaverse platform services. With a commitment to innovation and excellence, Korea Virtual Reality Inc. continues to push the boundaries of technology, providing advanced solutions to customers around the globe. About LTS Group LTS Group is a leading IT solutions provider, specializing in offering comprehensive IT outsourcing services to clients worldwide. With a strong focus on innovation and quality, LTS Group is dedicated to delivering cutting-edge technology solutions that meet the evolving needs of the global market. — Website: https://ltsgroup.tech/ Tel: (+84) 96-238-7474 Linkedin: https://www.linkedin.com/company/lts-group-vietnam/
Jun 27, 2024
We at LTS Group are thrilled to announce that we have officially achieved ISO 9001:2015 certification! This internationally recognized standard signifies our unwavering commitment to providing top-tier services and exceeding client expectations. But what exactly does ISO 9001:2015 mean, and why is it so important? Table of Contents Toggle What is ISO 9001:2015?Why is ISO 9001:2015 Important?LTS Group: Your Trusted Partner for IT Outsourcing SuccessLooking Ahead What is ISO 9001:2015? ISO 9001:2015 is the world’s most widely recognized quality management system (QMS) standard. It outlines a set of guidelines and best practices for businesses of all sizes to implement a framework for continuous improvement. By adhering to these principles, organizations can ensure their processes are efficient, effective, and aligned with delivering exceptional customer satisfaction. Why is ISO 9001:2015 Important? Earning ISO 9001:2015 certification demonstrates several key advantages for LTS Group and our valued clients: Enhanced quality: The robust framework ensures consistent quality across all our services. We meticulously evaluate and refine our processes to eliminate errors and deliver exceptional results every time. Increased efficiency: Streamlined operations and optimized workflows lead to improved efficiency. This translates to faster turnaround times and cost-effective solutions for our clients. Improved client satisfaction: A core tenet of ISO 9001:2015 is a focus on client needs and expectations. By prioritizing client satisfaction throughout our processes, we ensure a truly exceptional experience. Boosted credibility: Obtaining ISO 9001:2015 certification positions LTS Group as a leader in the industry. It signifies our commitment to excellence and inspires trust and confidence from our clients and partners. LTS Group: Your Trusted Partner for IT Outsourcing Success Achieving ISO 9001:2015 certification is not a one-time accomplishment; it’s an ongoing commitment to quality. We at LTS Group are dedicated to continually refining our processes, upholding the highest standards, and exceeding your expectations. We are confident that this certification will further propel us in delivering exceptional services and building long-term, successful partnerships with our valued clients. LTS Group Achieves ISO 9001:2015 Certification: A Commitment to Quality and Excellence Looking Ahead As we celebrate this significant achievement, we remain focused on our goal of continuous improvement. The ISO 9001:2015 certification is not the end of our journey but a stepping stone towards even greater heights. We will continue to refine our processes, invest in our people, and strive to exceed the expectations of our clients and stakeholders. We extend our heartfelt gratitude to our dedicated team, whose hard work and commitment have made this achievement possible. We also thank our clients for their trust and support, which drive us to maintain the highest standards of quality and service. LTS Group looks forward to a future of sustained excellence and growth, confident that our ISO 9001:2015 certification will pave the way for new opportunities and successes. ___ Website: https://ltsgroup.tech/ Tel: (+84) 96-238-7474 Linkedin: https://www.linkedin.com/company/lts-group-vietnam/
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A software development plan outlines how a software product will be created, developed, and launched. It outlines the timeline, goals, stakeholders, resources, and budget needed to successfully deliver a software product. The plan should also include a roadmap of the development process and any risks associated with it.
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
This Software Development Plan template is designed for software development teams that need a structured approach to creating, developing, and launching software products. This template provides a framework for teams to create a plan that outlines the timeline, goals, stakeholders, resources, and budgets needed to successfully deliver a software product.
When creating a Software Development Plan, it is important to first define the focus areas that you want to address. Focus areas are the major categories of work that need to be completed for the software product to be successful. For example, a focus area could be Software Product Development, Product Documentation, or Security. Identifying and defining your focus areas will help you create a plan that is tailored to your specific project needs.
Once you have identified and defined your focus areas, you should then think about the objectives that could fall under each focus area. Objectives are the specific goals that need to be accomplished in order to reach the overall goal of the software product. Examples of some objectives for the focus area of Software Product Development could be: Streamline development process, and Enhance Software Quality.
Once you have identified the objectives that need to be accomplished, it is important to set measurable targets (KPIs) to tackle each objective. KPIs are measurable targets that help you track progress towards the objectives. An example of a KPI for the focus area of Software Product Development could be: Reduce time to market.
Once you have identified the KPIs, you should then implement related projects to achieve those KPIs. Projects (or actions) are the steps that need to be taken to achieve the KPIs. An example of a project related to Software Product Development could be: Implement Agile methodology.
Cascade Strategy Execution Platform is the perfect tool to help you create, execute and track your Software Development Plan. The platform provides an easy-to-use interface that allows you to quickly create your plan and track progress towards your objectives. It also provides powerful analytics to help you identify opportunities for improvement and optimize your plan for faster results.
Having a great business idea and having the willingness and ability to jump into the entrepreneurial or intrapreneurial journey are the stepping stones to a successful journey. Next, you will develop expertise on how to write a business plan for a tech startup step by step.
You may like to start a business venture on your own or start a new business initiative within the firm that you work for. Whatever the case may be; you need to start your journey by writing a tech startup business plan proposal.
Like they say, a job well begun is half done. So, knowing how to write a well thought out business plan wins half the battle for you.
You also need to follow the “Keep it Simple, Silly” doctrine and come up with a simple business plan. Following a step-by-step business plan template, in this case, helps.
Sounds interesting? Let’s start the journey.
To begin a tech startup business plan, you need to ask yourself the following questions:
“What to do?” “How to do it?” “When to do it?” and ” Who will do it?”
These questions will help in starting to plan how to take your business idea to executable action. Planning will help you bridge the gap between where you are right now and where you want to reach, concerning your business idea.
There is no sacrosanct format of a good business plan or a business plan pdf, and also the ingredients of a business plan proposal would depend on your experience in business and knowledge in that particular field.
However, a good startup business plan consists of the following:
In case you have partners, their background too
It should consist of Utility of the Product / Service and the Unique Selling Proposition, i.e., USP
In case of a product, how would you produce the product, in case of a service, how will you deliver the service
How would you smoothly coordinate the day to day work, how would you ensure the desired quality, where would you set up your factory/office, at what price will you sell
This contains details of how many people you will employ to produce or deliver the service, what your marketing set up will be, who will manage your accounting and liaison with the various stakeholders and authorities
Now we come to an essential part of your business plan, where you need to spend considerable time and effort. It is the Financial Plan .
Your financial plan should spell out the investment required for the business. Where would the funds come from, and when are the funds needed? How much cash is needed to carry on day to day operations?
This section would also describe the economic feasibility of the business. This would include the revenue forecast for the next year, or three years or even further.
You need an elaborate plan to be successful in your business. However, at the same time, you also need to keep in mind that the business plan is needed for the potential investor to consider investing in your business.
Given the lack of time the potential investor has, you need to make a one-page business plan which has a concise description of your plans but gives details on why she/he should invest in your business. It should motivate the potential investor to spend time and read a more elaborate business plan.
The one-page business plan is also your means of communication with the external stakeholders like the government, the public at large when you need to do any statutory filing of information of the company or present in various conferences.
You may also like to term this one-page plan as a written “elevator pitch.”
You may like to start a business venture on your own or start a new business initiative within the firm that you work for. Whatever the case may be; you need to start your journey by writing a tech startup business plan proposal.
Like they say, a job well begun is half done. So, knowing how to write a well thought out business plan wins half the battle for you.
You also need to follow the “Keep it Simple, Silly” doctrine and come up with a simple business plan. Following a step-by-step business plan template, in this case, helps.
A startup business plan consists of an internal roadmap elaborating on the most important aspects of your business (i.e., the background, the production, operational, organizational, and financial aspects).
At the same time, it consists of the purpose, and the financial returns your business will generate, which acts as a written marketing document for external stakeholders.
However, given the uncertainties in modern times, business plans are increasingly focusing on the risks, and the fall back plans that would be in place if the original plan fails.
A significant point that gives confidence to the investor about the long term viability of the business plan is the interest that the target market will show in the product or service. So, it is worthwhile to add as a Business plan annexure pdf, any primary research done by a reputed marketing agency of the market potential of the product or service.
When the business plan involves a new product or service, it is effortless to fall into the trap of looking at the product from your point of view and taking the market for granted. What is required at this stage is to focus exclusively on how you conceptualized the idea and how you are planning to bring the concept to execution.
Researchers from MIT suggested successful business plan examples where users were invited to pre-test the products or services. Their feedback is of interest to the investor and needs to be included in your startup business plan.
Step 1: executive summary.
The first step in writing a startup business plan for your new tech business is to create an executive summary.
The executive summary doesn’t need to be lengthy and tedious; around two to three pages should suffice.
Although a short document, the executive summary one of the most important elements of your business plan.
Your executive summary should be concise and clear as it should be successful in communicating everything about your business.
Some investors might only ask for your executive summary — so be sure to craft it well and pepper it with all the right bits of information. you’ll want to ensure it can stand on its own.
Stick to the following:
1. Mission Statement: In one crisp paragraph, explain the mission of your business and what you want to accomplish.
2. General Company Information: Next, include general information like when your business was formed, the name of the other founders, their roles, the number of employees, office locations, and so on.
3. Visual Highlights: Include graphs and charts pertaining to any key milestones of the business or any growth you’ve seen since starting the business.
4. Products and Services: Without getting overly passionate or verbose, briefly describe your product, the technology that powers it, and your target customer base.
5. Financial Information: If you’re looking for startup fundraising , include your funding goals. You can also include any information on previous loans or about banks or lenders you’ve worked with before.
6. Future plans: Don’t forget to include where you plan on taking your business in the future.
Pro tip: Write your executive summary after you’ve completed creating your business plan.
This way you’ll have all your facts in place and all your information and details sorted so you will be better equipped to summarize them.
Many entrepreneurs confuse the company overview with the executive summary. However, there is a stark difference between the two.
The company overview is a more detailed top-level view of the structure of your tech business and what you do.
Here’s how you can go about drafting your startup overview:
1. Begin your company overview section by describing what your business specializes in and the technology behind it. This part of the company overview is intended to give readers and investors a general idea of your business.
2. Next, proceed to explain the nature of the industry and marketplace.
3. Lay out the legal structure of your business and provide the ownership structure.
The next step along the process of creating your startup business plan is to perform in-depth research and analysis of your niche, target market, and primary competitors.
This is the first part of your startup business plan where you dive into the details.
Your market analysis will give readers and investors enough proof about the level of understanding you have about the dynamics of your industry.
Your market analysis should include the following sections:
1. Industry Description: Start by including a detailed view of your industry. How big is it? How much has it grown in the past few years? What are its growth predictions from industry experts? Who are your competitors? How have they performed? And so on.
2. Target Market Details: Dive into the details of your target market . And include your target market’s characteristics and target market size and growth.
3. Your Market Share Potential: Chart out what your market share could look like along with how much market share you expect to gain.
4. Market Pricing: Include an estimated cost of your products and how you will distribute them.
5. Challenges: Don’t shy away from including any challenges that you may across. This could be legal issues to shifting technologies to capital issues to lack of talented or skilled human resources.
6. Competitor Research: Study your competitors by analyzing their strengths, market share, weaknesses, challenges they pose to you, and so on.
This next section of your startup business plan provides insights and information on your tech business’s management structure clearly defining and explaining what everyone does.
You will also have to go a step further to include everyone’s business background and past experiences.
Here’s what you need to break down:
1. Organizational Structure: Start this section by creating an organizational chart that depicts how your business is structured.
2. Ownership Structure: Although you’ll repeat this information in your company overview, you have the liberty to go in-depth allowing you to talk about the ownership structure of your company, who owns how much, and so on.
3. Background of Owners: Categorically explain the background of your team. This includes information on directors, senior management members, and managers.
4. Talent Requirement: Clearly make a list of all hiring needs.
This section of your startup business plan is all about laying out the details and plans for positioning your product, the utility it provides, the technology behind it, and so on.
For instance, if you are offering Internet of Things (IoT) based solutions or Artificial Intelligence-powered services, then give details about how these products work and how you wish to promote and sell it.
Here’s exactly what this section should include:
1. General Description: Highlight the USP of your product or service and the value it provides to potential customers.
2. Status of products: Paint an honest picture of the status of your product. Is your product in the idea stage? Is it already selling? Or is it ready to go to market?
3. Product goals: If you are still in the ideation phase, map out a journey that talks about how you plan to launch the product and bring it to life. Include details on the research and development activities required. You can also include new versions or new products or any new features you wish to include in the future.
4. Intellectual property: As a tech business, it is imperative to have proprietary intellectual property . Make mention of this and any other patent or trademark that you own or are in the process of owning.
5. Sourcing and fulfillment: If you are dependent on third-party vendors to fulfill or your product or service creation, mention it here.
This section is crucial for your startup business plan as it defines everything about your products and services.
It will work as a bible for product managers and for you in the development stages and go to market phase.
Once you’ve explained everything about your product, it’s time to delve into explaining how you are going to go about marketing and selling your product or service.
When it comes to marketing, this is what this section should look like:
1. Positioning: This first part of your marketing plan should talk about how you’re positioning your business and products. What price bracket are you targeting? Are you offering any free service? What guarantees and warranties are you offering? Answering these questions and more will help you determine where you are positioning your products and services.
2. Promotion: This part involves explaining marketing channels and plans you have for advertising your product, PR strategies, SEO plans, content marketing practices, social media marketing, etc.
Next, your sales plan:
1. Salesforce: How do you plan to sell your product? Do you need a sales force? How big a team do you need? Who will train your sales team? These parameters need to be addressed in your sales plan.
2. Selling strategy: Give an overview of how you will sell your product or service. Define the process you will follow as a technology business. Will you start with cold-calling potential customers? Or attending events? Or appointing channel partners? Clearly describe what your sales funnel should look like.
This is a supremely important section of your business plan.
Investors and VCs will want to look at your financial plans and projections before parting with their money.
Ideally, this section uses financial data from past performances or forecasts.
Include the following as part of your financial plan:
1. Income statements
2. Cash flow statements
3. Balance sheets
Additionally, if applicable, include the accounts of receivable statements, accounts of payable statements, and details or documents of debts.
Ideally, your financial projections should be supported either by past performances or future projections and estimations.
Include statements of projected income, cash flow forecasts, forecasted balance statements, capital expenditure budgets, and miscellaneous expenses.
Your startup business plan should include projections for the first year of business but should include a vision for the coming 3 to 5 years.
The appendix should be included towards the end of your business plan. This section includes all additional information that you didn’t include in the sections above of your business plan.
Any data, statistics, strategic points, charts, footnotes, or further explanations that you think are necessary to be included as part of your startup business plan but has been skipped should be included here.
As an entrepreneur or founder, you can also consider including your own resume and resumes of other founders or senior management team members.
Ideally, the appendix should begin with a table of contents that categorically breaks down your business plan into relevant, followed by the additional information that corresponds to each section.
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Although creating a startup business plan seems daunting and arduous, when you break it down into a step by step process, it gets easy to create one.
And with these 8 steps, you can create a killer tech business plan for your tech startup that will help you catapult to success and leave investors mesmerized.
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Table of Contents
Software development planning is critical to successful project execution. An effective SDP outlines project goals, resources, timelines, tasks, and potential challenges. This keeps the entire team in alignment and working efficiently.
Creating and implementing an effective SDP requires technical expertise, project management skills, and an understanding of project requirements. Let’s dive into the nuances of how to create an SDP.
An SDP is a comprehensive roadmap that guides the entire process of creating, designing, testing, and delivering a software product. It details the project scope, required software features, project timelines, and tasks the team needs to complete. Additionally, an SDP addresses potential risks that might come up during development and how the project team would manage them, plus the development methodologies and software tools they will use.
An SDP benefits a development team by providing defined project goals, roles, responsibilities, and timelines. This helps team members collaborate more effectively to create a software development project, reduce confusion, and streamline everyone’s efforts.
An SDP also increases efficiency by breaking down how to create a software development plan into manageable phases and tasks. Each team member understands their contribution and the overall project trajectory, enabling them to work more productively . Additionally, a software project plan facilitates effective communication between the team and stakeholders by aligning everyone's expectations and objectives and optimizing development workflow .
Finally, an SDP benefits your dev team by serving as a benchmark for measuring project progress. This helps the project stay on schedule and budget.
The main objective of an SDP is the successful creation of the desired software product. A software project management plan does this by outlining desired outcomes and what problems the team will solve with the software product. Specific objectives include:
Setting a clear course from the outset is key. That's where understanding how to write a software development project plan comes in. Let’s explore the nine steps in writing an SDP below.
Begin by clearly defining the project's scope and outlining the specific objectives you aim to achieve. This involves understanding the software’s features and functionalities, the goals of software developers, and the project’s ultimate goals. Clearly defining the scope sets the foundation for the entire plan, ensuring everyone understands the project's boundaries and desired outcomes.
This step involves project managers, stakeholders, and key decision-makers to align expectations and establish a shared vision for the project.
Determine the resources the project requires , including personnel, tools, and technologies. Set realistic timelines for each development phase, considering factors like task complexity and dependencies. Allocating resources and establishing timelines provides a structured framework that helps manage expectations and ensures efficient resource utilization.
This step involves project managers, team leads , and resource managers to allocate personnel and plan the project's timeline.
Assign tasks based on skills and expertise and define the hierarchy of decision-making. Assigning roles and responsibilities ensures accountability, effective collaboration, and a clear understanding of who is responsible for what.
This step involves project managers, team leads, and individual team members to ensure everyone knows their role in the project.
Identify potential risks and challenges that could impact the project's progress and success. Develop strategies to mitigate these risks, outlining preventive measures and contingency plans. Addressing risks upfront helps proactively manage challenges and reduce the impact of unexpected hurdles.
This step involves risk managers, project managers, and subject matter experts who can assess potential risks and provide insights into mitigation strategies.
Detail the methodologies, development frameworks, tools, and technologies the team will use. This ensures a consistent development approach and helps align the team's efforts.
This step involves technical leads, architects, and developers who are well-versed in the relevant tools and methodologies, such as Agile and Scrum.
Develop a communication plan that lays out how the team will share information. Define the frequency and modes of communication, ensuring everyone remains informed and aligned throughout the project lifecycle.
This step involves project managers, communication coordinators, and team members responsible for disseminating information.
Outline the process of management and approval for changes to the project scope, objectives, or timelines. Define the process for requesting, evaluating, and implementing changes, ensuring that alterations are well-considered and have minimal disruptive impact. This promotes controlled adjustments and prevents scope creep.
This step involves project managers and decision-makers responsible for approving changes.
Develop testing and quality assurance processes, specifying testing methodologies, tools, and criteria for successful testing completion. A well-defined testing strategy ensures the software meets the required standards before deployment.
This step involves quality assurance teams, testing leads, and developers who contribute to creating a robust testing plan.
Define how you will monitor the software's performance post-deployment. Establish key performance indicators (KPIs) and metrics your team will track to assess the software's success and user satisfaction.
This step involves project managers, data analysts, and performance monitoring teams who establish the metrics and mechanisms for ongoing evaluation.
A software development template helps streamline and expedite the creation of an SDP. By providing a pre-structured framework, a template saves you time and effort. A software development process planning template offers a consistent format that prompts you to cover essential aspects, ensuring you don’t overlook any crucial details. Let’s look at a software project planning template below.
Provide a concise introduction to the project, outlining its purpose, objectives, and scope. This step sets the stage for the entire plan, ensuring a clear understanding of the project's context.
Define the software’s features, functionalities, and goals. Clearly articulate what the software will achieve, ensuring alignment among team members and stakeholders.
Identify the necessary resources, including personnel, tools, and technologies. Set realistic timelines for each development phase, considering task complexity and dependencies.
Assign roles and responsibilities to team members based on their skills and expertise. Define who is responsible for each aspect of the project, fostering accountability and effective collaboration.
Outline the interrelationships between various project tasks. Highlight tasks that rely on the completion of others, ensuring a clear understanding of the sequence of activities and facilitating smooth project progression.
Identify potential risks and challenges that could impact the project. Develop strategies to mitigate these risks, ensuring proactive management and minimizing potential disruptions.
Detail the methodologies, frameworks, tools, and technologies the team will use during development. This section ensures a consistent approach and aligns team efforts.
Define how you will share information among team members, stakeholders, and relevant parties. Specify communication frequency and modes to ensure transparency and effective coordination.
Outline how the team will manage and approve any project scope, objectives, or timelines changes. This process prevents scope creep and ensures controlled adjustments.
Lay out your strategy for testing the software's functionality, performance, and reliability. Specify testing methodologies, tools, and criteria to ensure high-quality deliverables.
Define how to monitor the software's performance post-deployment. Establish key performance indicators (KPIs) and metrics to assess ongoing success and user satisfaction.
Outline the financial resources required for the project's successful execution. Detail anticipated expenses related to personnel, tools, technologies, infrastructure, and any other development costs .
When you’re writing your SDP, make sure to avoid:
A well-structured SDP ensures alignment, clear communication, and effective project management. If you're looking for a seamless and efficient way to execute your plan, Revelo can help. We specialize in connecting businesses with highly skilled developers who are not only time zone aligned but rigorously vetted for technical expertise, soft skills, and English proficiency.
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By Kate Eby | November 7, 2022
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In this article, you’ll find the most useful free software project plan templates for software project managers, Scrum masters, Agile team members, business systems analysts, QA managers, and others.
On this page, you'll find many helpful software project plan templates, including a software development project plan template , a software deployment project plan template , an Agile software development project plan template , and a software rollout and implementation plan template , among others. Plus, find tips for using software project plan templates .
Download a Simple Software Project Plan Template for Excel | Microsoft Word | Google Sheets
This simple software project plan template helps you successfully execute software development and offers you a task-based guide for future software project planning. Enter your software project’s name, main deliverable(s), scope-of-work statement, project manager, and start and end dates. The template comes pre-built with sprint-by-sprint swimlanes under which you can put your project’s primary tasks. For each task, assign a software team member, set a due date, document the status, and track the percentage toward completion.
For more project plan templates and resources, see this article on project plan templates in Microsoft Word .
Download a Software Development Project Plan Template for Excel | Google Sheets
Master your software project planning with this comprehensive software development project plan template that includes a Gantt chart. This sprint-by-sprint software project planning template provides the following: a Work Breakdown Structure (WBS) column, so you can assign a unique number to each task; a T ask Owner column, so you can assign individual tasks to specific team members; an Estimated Work in Hours column; and a Due Date column. The Gantt chart offers a visual timeline of each sprint’s tasks and progress, so you can track them by week or by sprint.
A unique burndown chart displays the amount of work remaining and completed for each sprint, so it’s clear, at a glance, whether or not your team can complete a given sprint’s tasks on time.
Download a Software Deployment Project Plan Template for Excel | Google Sheets
Use this software deployment project plan template to ensure that your project deliverables are on track for completion. You can utilize the template as an Agile or Waterfall tool, depending on which methodology suits your software project requirements. For each task, enter story points, the status (i.e., Planned, Ongoing, Released ), and the deployment due date. An At Risk column allows you to check any task that might not be completed by the deployment due date.
Download an Agile Software Development Project Plan Template for Excel | Google Sheets
This all-inclusive Agile software development project plan template offers everything you need to plan a successful Agile software project. Sprint and task-specific swimlanes guide you through the process of accounting for every feature and component that you must complete by the end of a sprint or by the conclusion of the overall project. Include story points for each sprint’s feature and task, so you can weight these factors adequately and then accurately determine how relevant each deliverable is to project success.
An overall progress field helps you keep tabs on the percentage of the project’s completion. A Gantt chart provides a horizontal, color-coded bar graph of your sprints, so you can track the individual progress of each one.
Download a Software Rollout and Implementation Plan Template for Microsoft Word | Google Docs
Designed to account for every element of a software rollout, including its successful implementation, this template provides instructive explanations of each step of the software delivery process. In the template’s Purpose section, describe the reason for the software rollout plan, and identify the system that you and your team will implement. Use this template to account for everything in your software project, including its assumptions and constraints, description of implementation, points of contact, implementation schedule, security and privacy, performance monitoring, documentation, acceptance criteria, and more.
Download a Software Migration Plan Template for Excel | Google Sheets | Smartsheet
This software migration plan template offers you the high-level overview you need when you’re planning a major software migration. The template includes built-in software migration-specific tasks, such as defining the opportunity, evaluating the potential risks, and more. Under each task, you can choose from a dropdown menu of subtasks, such as Identify Needed Resources, Identify Operating Costs, or Review Implementation Strategy .
The related Checklist Prior to Migration Project Launch template below helps you confirm that you’ve accounted for all your software migration plan’s components, so you can rest assured that your migration project goes off without a hitch.
Download the Migration Planning Checklist Template
Microsoft Word | Adobe PDF
Check out these free IT project plan templates and resources to help ensure that your IT team is on track.
A software project plan template provides a comprehensive framework that allows you and your software team to accurately document, anticipate, list, and monitor all stages of your software project — thus, keeping your deliverables on track for completion.
Successful project status report templates and dashboards provide instant insight into project progress, and they clearly show which project components are on track, at potential risk, or creating roadblocks. A customizable template enables you to modify your document to fit your needs, while also offering default text to help you implement and monitor your project. Though project status template types vary, they include the following universal sections:
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Software development is creating automated programs to perform specific tasks or activities. It comprises coding, designing, testing, and data maintenance to meet corporate needs. A software development roadmap is a well-thought-out plan that shares a software project's goals, timeline, and critical milestones. It helps team members and investors to understand the purpose of creating a program. Besides this, it also acts as a roadmap for business development to boost productivity and increase client satisfaction.
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Software development is valuable for corporations because it allows them to become familiar with the technology and find solutions in real time. Moreover, investing in application development helps to ensure that business operations run smoothly and that the automation process is in place. It also gives traders a chance to gain a competitive advantage by delivering and meeting the market's needs. Creating a structured roadmap for software development gives businesses an upper hand in every possible way; it is significant for them to ensure success.
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SlideTeam's presentation layouts are invaluable in highlighting the software development roadmap. These PowerPoint Slides help you professionally convey your goals, timeline, and milestones in the development process. Use these to bring clarity to your software development roadmap presentations.
This PPT slide showcases an extensive six-month software development product roadmap. The presentation visually highlights milestones such as the community site beta, android mobile app launch, iOS mobile app launch, US web store launch, and holiday blackout. Moreover, this PowerPoint design also focuses on self-serve features involving password reset assistance, language localization, and reward. It is a perfect tool for software developers and IT project managers.
This presentation design features a half-yearly software development roadmap. It outlines milestones like the community site beta, Android and iOS mobile app launch, US web store launch, and holiday blackout. This slide helps IT project managers, software developers, and business analysts with the complete software development process. Download now.
This PPT Layout delineates an IT department's quarterly roadmap for software development. It highlights vital functionalities that help you understand the concepts effectively. The presentation design details user interface (UI) tasks such as Java Script creation, SQL database development, and iterative UI improvements. Furthermore, it shares information on application programming interfaces, storage, and other service integrations.
Use this PPT framework to demonstrate a five-year agile software development team roadmap. It strongly emphasizes team responsibility year by year. The presentation design shows that Team 1 focuses on customer interviews, demo versions, and feature enhancements across the year. Team 2 focuses on code review, admin console, and ticketing system. Similarly, team 3 works on bootstrap upgradation and design iteration. Download now and save it for your next presentation.
This presentation visualizes a six-month agile software development roadmap with construction timelines. It highlights the journey from concept to retirement, each month dedicated to a specific task. The PPT layout depicts that the first month is for concept exploration, the second is for inception, the third is for construction iterations, the fourth is for transitions, the fifth is for production, and the last is for retirement. Use this presentation diagram to add value to your message.
This PowerPoint Diagram displays a five-year agile software development roadmap. It covers critical areas such as design/UX, operations, and mobile and web app development. Use it as a roadmap for better user experience, streamlining operations, and developing strong web and mobile applications. This PowerPoint is helpful for agile project managers, UX/UI designers, and IT operations managers.
This PPT summarizes a six-month software development roadmap. It focuses on critical areas like UX/UI, web development, and integrations. The PowerPoint design shows a six-month roadmap for ensuring the desired results.
Use this PowerPoint Presentation to exhibit a five-year plan for software application development. It outlines a list of tasks for each year. It is helpful for quality audit testers, software developers, UX/UI designers, and product owners.
This PowerPoint framework shows a five-year roadmap for software application development and configuration. The presentation slide emphasized year-on-year planning. In the first year, it is essential to understand the requirements and then work on the design. Next, it is time for implementation, testing, and verification. The final year is for release and maintenance. Use this presentation to ensure a smooth development process, ultimately leading to success.
This PPT graphic demonstrates a six-month software development and deployment roadmap. It covers a six-month timeline to show how to ensure success in application development. The presentation slide covers steps like request for software development, required configuration, design and development, testing and debugging, and integration. Download now.
Our presentation designs provide a great platform to showcase software development-related concepts. Whether you are sharing an overview of the stages of software development with your team or giving knowledge to your stakeholders about its significance in business development, you can ensure you achieve your objective.
Unlock growth potential with Top 7 Business Development Roadmap Templates with Samples and Examples. Ideal for strategic planning and execution! Click here to download.
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Are you an IT expert seeking to create your own tech company? It’s not an easy feat to accomplish. Business plans guide on the services you will be providing, your marketing schemes, and your company’s financial movement. It takes effort to create the report from scratch, especially if you don’t have any experience making one. Template.net eases out your paperwork with sample business plans made for software and IT companies. Each template contains professionally written content and headers that are fully editable on Template.net’s online editor platform.
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Are you about starting a software development company? If YES, here is a complete sample software development business plan template & feasibility report you can use for FREE . A software development company is where software is not only developed but distributed for different purposes such as instructional, learning, calculation, entertainment, and assessment purposes.
Before one can start a software company, there are basic things that one needs such as a knowledge of programming, technical support skills, the necessary experience at managing a company and funds. However, before starting a software development business, it would be best to conduct a thorough market research of the industry
The software development industry has grown in the space of a century from an almost on-existent industry to one that is not only a billion dollar industry but an indispensible one, especially as software form the basis of modern gadgets and devices.
Between 2011 and 2016, this industry has been dynamic in growth, especially as there has been increasing demand from businesses and consumers, with more people spending their discretionary income on products such as video games.
The industry is being said to generate $205 billion and has a projected annual income of 3% from 2011 to 2016. There are more than 8,500 software development businesses in the united states of America that employs more than 455,000 people.
Globally as at 2013, according to Gartner, the software revenue was $407.3 billion which was a 4.8% increase from the #388.5 billion registered in 2012. The industry according to Forrester was projected to be the fastest growing in 2014 with a growth pegged at 7.1%.
The software development industry has room for growth as there is considerable demand in this industry with more businesses adopting software programs that will allow for improved efficiency and lower operating costs; this was so as to look for ways to not be affected by the economic downturn.
Cloud computing capabilities have created several advances for companies who have realized the positive effect of virtual offices and the savings implications for the company. This technology has helped companies to not only reduce overhead but increase productivity as well.
Another plus for companies are virtualizations which not only allow them to eliminate several server farms but has made IT infrastructure more economical and flexible while slashing operating costs.
There are moderate barriers for new businesses that wish to enter this industry; however, certain product segments have a higher barrier than others. One common thing in this industry is patents which serve as a means of limiting competition, even though some companies willingly license their patented technology.
Doodle Tech Inc. is a leading software development business that is based in Market Street, Suite 800, San Francisco – California, USA. We are in business to develop software for general purposes and for specific purposes to our various clients. We have in place training services and we also offer technical support in line with our business.
Our location is very strategic in the sense that we are close to manufacturing firms as well as technology giants and other big businesses here in California that will ensure that we have an edge over other software companies in other parts of California.
We are in business to not only make profit but to also compete favorably against other software development companies in the industry and attain our vision of being the preferred software development company for clients all over the United States of America.
We intend to ensure that we demonstrate fair business ethics in every point of our business. We hold ourselves accountable for our high standards and ensure that all our employees are not only attuned to but display this standards at all times in order to positively promote the company.
As a result of this, we are willing to go the extra mile by putting in structures, processes and planes in place to ensure that we get the best professionals who not only have the expertise but are also competent and know how to take our company from where we are to where we intend to be.
Our employees have welfare packages that are currently amongst the best in the whole industry amongst similar start-ups such as ours. We have also provided a conducive environment for all our employees in order to ensure that they remain productive at all times in order to improve the bottom line of the company.
We offer excellent customer services that have been known to retain a high number of our clients. All our customer service executives have been trained to know how to respond to customers and are also updated as regards the industry trends in order to ensure that reliable information is passed to our clients.
Finally, the expertise of both our owners, Jack Taylor and Christopher Warden in software development and business management is a great plus as both are not only Harvard graduates but also have more than 30 years of combined experience that will ensure that Doodle Tech Inc. attains its goals and objectives in time.
Doodle Tech Inc. intends to deal in several services whilst also generating revenue that would boost our bottom line tremendously. These several services will be added to our core service and should keep us favorably disposed to compete against our competitors.
We however intend to ensure that all our multiple sources of income which include training and technical support are in line with what is obtainable in the industry and accordingly to the laws of the United States of America. Therefore some of the services and products we will engage in are;
Our Business Structure
We know how important it is to have the right business structure for our software development company as getting it right from the start will eliminate most hitches that will crop up relating to our structure during the course of running the business. For this purpose, we intend to hire only competent and professionals in the available positions in our company.
Due also to the fact that we intend to run a wide range of services, we intend to ensure that we employ those that are capable of filling in these different positions. All our employees are those who understand the industry well and who are attuned with our vision and are committed to ensuring that we attain these goals and objectives.
We are also prepared to ensure that our workers are well paid and have welfare packages that are the best in similar categories across start-ups such as ours in the industry. We will also ensure that the working environment is not only conducive but is one that will enhance their skills and make them more productive.
Below is the intended business structure for Doodle Tech Inc.;
Chief Executive Officer
Software Development Manager
Business Development Manager
Human Resources and Admin Manager
Customer Service Executives
Marketing Executives
Security Guard
In order to determine if we were engaging in the right concept for our business, we hired the services of brand consultants who were not only reputable but the best here in San Francisco – California to let us know if it was worthwhile going into the business now.
The business consultants took a deep look at our strengths, weaknesses, opportunities and threats to allow the know what we were likely to face starting and running our business here in San Francisco – California, and in the United States of America as a whole. The results of the SWOT analysis that was conducted on our behalf are as follows;
Our strengths are numerous and lie in the fact that we have the right business structure that will ensure that we conquer this industry. Our software developers are the best there is and have the expertise and experience to enable us attain our goals and objectives.
We are also involved in ensuring that our software pass through quality process, reason we have external testers who run several tests on any of our software before it is released. Finally, our owners have the necessary experience that would make our being at the top a piece of cake, as both have more than 30 years experience in the software industry both as developers and in managerial positions.
There are few weaknesses that we identified for Doodle Tech Inc. and they include the fact that we were going to develop software that were not really different from what our competitors were offering. Also, there is the other fact that we are located in an area where there are other software companies, making our location a bit saturated.
We are however confident that we would be able to battle whatever weaknesses might crop up during the course of running or starting the business.
There are so many opportunities available to us as there are new market segments that we have identified which would likely generate money for us. There are so many strategic alliances which we would engage in so as to have a foot into other target markets and generate more revenue for our bottom line.
We also have the opportunity of moving into the international market as our software is such that has no boundary limits. Finally, we would fully tap into the internet in order to promote and increase awareness for our brand.
Threats are external factors that cannot be controlled by a business; however any serious business should not only be prepared for threats but also have ways by which these threats will not be allowed to totally affect the business.
Some of the threats we would likely face at Doodle Tech Inc. are; the arrival of a new competitor into our location, engaging in price wars with competitors, dealing with government policies that might have an effect on our industry. We are fully prepared for any threats we are likely to face, as we have strategies on ground to battle such threats.
The trend in the software industry is that most software firms or companies are located in clusters in identifiable locations. This is due to certain facts such as these companies wanting to be close for competitive and industry purposes and also most software companies depend on one another to be able to carry out certain functions or complete certain specific tasks for clients.
This does not however mean that there aren’t software companies in other locations or that software companies in these other locations cant still get jobs done. To however remain relevant, software companies must always remain innovative and unique in their offerings and services. Another trend with software companies is in its publicity and promotion activities.
To be able to attract the much needed awareness and also attract clients that would pay money for the firms’ products, software companies have engaged in strong promotional activities either by hiring brand consultants or getting an in-house team or deploying both methods to draft the strategies that would enable it be recognized in the industry. Intense promotional activities will also help in getting a huge share of the market.
Lastly, software cannot work without any device and so goes hand in hand with new or existing technology; which is why most software companies try to partner with technology firms so as to create new software or upgrade existing software for these firms. This goes to show that software industry is dependent on the technology and manufacturing industry in order to survive or thrive.
Almost everyone makes use of software and have either bought directly from the developers or indirectly via owning a device. This means that the target market for any software development company is wide. We however have mapped out a strategy that would allow us gain a vital share of the target market.
One of our first strategies is in conducting a thorough market research that would enable us understand the market we are to go into and know what they expect from us and what our obligations are towards them. The result of the market research of the market research showed that we were in business to develop software or offer other kinds of related services to the following people;
Our competitive advantage
Just like any other business that is established to make profit, we hope to be able to compete favorably against our competitors in the same industry. Our vision is to be the preferred software development company for our clients all over the United States of America and to achieve this, we intend to come up with competitive strategies that would enable us attain our goals and objectives.
We intend to ensure that the software developed for general purposes will come in different categories that will be convenient for all our users.
We have assembled a high team of software developers as well as management team who are not only highly experienced and who understand how to handle a start-up and make it become a force to be reckoned with nationally. Our staffs are also attuned to our core values and principles and understand the importance of projecting the image of the company positively to our customers – potential and existing.
Another competitive advantage that we have to our favor is our excellent customer service culture which is already resounding across the industry as one of the best of start-ups of our size. Our customer executives are highly trained and are always updated on industry trends so as to be able to give our customers the correct information at all times.
Finally, because we know how important it is for our employees to be happy always, we are committed to treating them right. Our management team has a stake in the company’s profits and our lower cadre employees have incentives built into their welfare packages. All this is to enable our employees remain happy and productive.
Doodle Tech Inc. just like any other business has been established with the aim of generating revenue and making profit in the technology and software industry, and we are going to ensure that we make software that will help us accomplish this purpose, as well as engage in other services as well.
Doodle Tech Inc. therefore intends to generate income by engaging in the following services;
The software industry has come to stay and can only keep evolving into something bigger and stronger, as there will always be gadgets, devices and templates that would require the use of a new software or an upgrade.
Our strategic location in San Francisco – California has afforded us the opportunity to be close to many technological giants and businesses and this will see us generating and meeting our set revenue in no time, thereby growing our business tremendously.
After conducting a thorough analysis on the software industry and analyzing our chances in the industry, we were able to come up with a sales forecast that has shown strong positives in how we are likely to far in the market.
The sales projections were based on several assumptions and facts garnered across similar start-ups in the industry and across the United States of America as a whole. Therefore, the sales projection that Doodle Tech Inc. conducted to analyze its chances are as follows;
N.B : The above sales projections were done based on major assumptions that some factors that were used in making these assumptions would remain the same. However, should there be any change either positively or negatively, it would likely increase or decrease the above figures.
Marketing is a very important aspect of any business because it is not only a way to generate revenue for a business; it is also a way of garnering publicity to attract new customers whilst retaining the old ones. Every business no matter its level or life cycle of needs marketing in order to thrive, which is why any entrepreneur or business person starting or running a business usually sets money aside for marketing.
Asides creating funds for marketing, it is also important to ensure that effective strategies are created. Creating effective marketing strategies are essential as they would ensure that the funds are channeled the right way. In marketing Doodle Tech Inc., we would ensure that we leverage on all conventional and unconventional means of making sure that our brand and products are marketed to all our existing and potential customers.
We would conduct a market survey that would allow us understand the right strategies to draft and how effective they would be depending on the target market. To conduct a thorough market survey, we would make use of accurate available data so that we would be effectively able to compete with all our competitors all over the United States of America.
We also intend to hire a reputable marketing consultant who should be able to draft the right marketing strategies that would allow Doodle Tech Inc. penetrate the market. Also, our marketing team would be empowered in ensuring that the marketing strategies created are in tune with our corporate goals and objectives as a business.
Therefore, the following are the marketing strategies we hope to adopt at Doodle Tech Inc. in order to sell our products and services;
Carrying out the right publicity and advertisement for our software development business is very essential as it is not enough to just penetrate the market and also create awareness, but to ensure that the strategy will result in Doodle Tech Inc.’s products becoming generic terms for similar products in the same category.
Due to this vision, we have hired a reputable publicity consultant who has the industry knowledge and expertise and who will help in ensuring that our company gets to the top by drafting out strategies that are in line with the core policies of the company and will boost our brand and allow us compete favorably against our competitors.
Below are some of the platforms we intend to leverage on in order to promote Doodle Tech Inc.;
Determining the right price for our various software’s will depend on a number of factors, such as how much the market will willingly pay for such software, how much that category of software is being charged for by competitors, and how unique the software is. Other factors that will determine the prices are if we intend to charge a licensing fee for our software, or enable a pay per transaction or a subscription that is time-limited for the end user.
In view of all the above based factors, we will offer our software at prices that are at the prevailing market conditions. However, because this is a competitive market, we will however lower our prices in the first two months of business so as to attract more customers to our business, and also increase the awareness for our products.
Doodle Tech Inc. realizes that due to improving technology, customers now have different payment options that they can use in paying for services; and so we have different payment policy that is intended to suit all our different customers and their diverse needs.
The payment options we have for our clients are;
The above payment platforms were carefully chosen for us by our bank and we have been told that our customers will not experience any hitches or inconvenience whilst using the above platforms.
Even though some of the equipment that can be used to start and run a software development company can be gotten for fairly used, thereby lowering the costs of start-up, it will however be vital to stress that setting up a standard software development company would require the equipment used to be standard so as to be able to withstand the heavy workload that it might have to carry out.
Also, the bulk of capital in these circumstances usually goes to paying workers and utility bills that the business will incur during the course of its operation. Therefore, the key areas where we intend to spend our start-up capital on are;
From the following report, we would need an estimate of $300,000 to be able to start and successfully set up a software development company in San Francisco – California. IT should be noted the bulk of the capital (90%) went towards payment of salaries for employees for a period of three months.
Generating Funding / Startup Capital for Doodle Tech Inc. Business
Doodle Tech Inc. is a business owned by two geeks and businessmen, Jack Taylor and Christopher Warden. We realize our financing is important for our company if we intend to successfully start, run and become a force to be reckoned with in the industry.
We are however going to be careful in where we source for money so as not to lose a part of our company or get locked in repaying a loan that might hinder the progress of our company. This is why we have decided to limit our sources for income to just 5 sources; The following are sources where we intend to get our start-up capital from;
N.B: from our personal savings and the sale of some of our stocks, we were able to generate the sum of $30,000. The soft loans from our family members and friends amounted to $20,000. We applied for a grant of $50,000 at the state level and have been considered.
We were able to generate the sum of $70,000 from sourcing for funds from kick starter, and we are at the final stages of getting our loan of $130,000 approved for us by the bank. All the necessary documents have been signed and we have been assured by our banker that the amount will soon be credited to our account within two weeks.
Doodle Tech Inc. is established with the aim of making profit and competing amongst others here in the software industry. We are however concerned about the future of our company and so we intend to ensure that we deploy sustainability and expansion strategies so as to keep our business running for a long time.
One of the sustainability strategies which we intend to deploy is in having the right business structure on ground. This we intend to do by hiring competent and professional employees to handle the various tasks that we will assign to them.
We will employ those who understand what businesses such as ours will need to thrive in the industry and the know-how to ensure that we attain our desired goals and objectives. Our employees will not only be well paid and have attractive incentives, they will also continually be trained so that their skills would be enhanced thereby increasing productivity for the company.
We would draft effective publicity and promotional strategies that would ensure that the awareness for our brand and its products are increased to potential and even existing customers. Our promotional efforts will be geared into ensuring that our brand is positively communicated to even our rivals in the industry.
Most of our publicity strategies would be geared towards the millenials by throwing up contests especially on social media as these have the potential to ensure that awareness about our brand is effectively spread even to the baby boomers.
Finally, we take our customers very seriously and to this effect we intend to ensure that we have effective customer service programs which will see our loyal customers getting incentives.
We also would ensure that we attend to all customer enquiries whilst also making sure that all their complaints are resolved speedily depending on the problem. We know that if we carry out these strategies effectively, we would not only push forth our brand but also sustain our business whilst also expanding it at our own pace.
Check List / Milestone
Master software development project plan timelines with our intuitive software development project plan template project plan Gantt chart template.
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Getting your project off the ground is as easy as 1-2-3.
Click the 'start with template’ button to open the Software Development Project Plan Template.
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You’re all set to use the Gantt chart template. Need additional help? Our AI assistant can create a custom Gantt chart Software Development Project Plan Template based on your project description.
Software projects allow you to develop tools that enable businesses to achieve important goals. Perhaps you’re working on a software project for a consumer-facing tool instead. Whatever the case, you must deal with deadlines, adhere to a budget, and meet the requirements of the project. A software development template helps you develop a plan and put it into motion with ease. Think of it as a foundation for the entire project, a base for the processes that you and your development team will use to flesh out the project. It provides a framework on which you can develop a timeline for project completion, including important milestones and the resources required within each phase.
Software developers use a range of tools to create project development plans. For instance, it’s common to use a software development project plan template in Excel, but spreadsheets are the wrong tools for this. Instead, a Gantt chart like Tom’s Planner offers flexibility, customization, and the ability to plan your project and track progress easily. With a software development Gantt chart, you can:
Whether you’re building a back-end software solution or a new smartphone app for consumers, Tom’s Planner offers the planning capabilities that you need.
In software development, a project planning Gantt chart plays a central role in many stages. Some of these include:
A software development Gantt chart is invaluable during the planning phase. It helps you outline the project’s path forward, highlight tasks and dependencies, and clarify the sequence of development.
Accurate resource allocation and management are critical considerations. A project plan template for software development simplifies allocation, tracking, and management throughout each stage of the project.
From software developers to internal and external stakeholders, multiple people must communicate throughout the project. A software development schedule template keeps everyone informed about the status of the project.
A software development project Gantt chart like Tom’s Planner is a powerful tool for developers, C-suite members, and external stakeholders alike, and helps keep the project moving forward.
Having the right tools during software development is only half the equation. You must also ensure that the right people have access. Some of those who will need to use a software development project plan template include:
The project manager is tasked with overseeing and managing the entire project, from initial ideation all the way through deployment and post-deployment testing.
Development teams need access to the software development Gantt chart to understand the tasks assigned to them, as well as to synchronize their efforts with other teams and stakeholders.
The product owner will need access to the software development planner to stay in the loop on development progress to ensure that the software meets their functionality and usability goals.
Ensuring that all those who need access to the software development planning template have it will help ensure accurate communication and that everyone is on the same page.
Your goal is to deliver software that meets the owner’s functionality and usability requirements while offering a positive user experience. Skip these pitfalls to improve your chances of doing that:
Documenting requirements is a critical part of planning. Failing to do so can lead to misunderstandings, missing functionality, and low-quality software products.
Make documenting requirements a central part of your initial planning and refer back to them throughout the project.
Some change of scope is likely with most software development projects. However, scope creep can make it impossible to manage the project and deliver software that meets the owner’s requirements.
Set the project’s scope during the planning stages with a tool like Tom’s Planner and avoid deviating from it too much.
Feedback is critical for making necessary improvements during development and testing. Ignoring it will result in low-quality software.
Seek feedback early and often throughout the project.
Every software project planning template should be unique to the project. However, most of them will require several similar phases. These may include:
Any successful software development project requires accurate planning from the beginning. That starts by gathering requirements for the project, including identifying stakeholders, conducting user interviews, identifying the required functionalities, and setting priorities for requirements. Record this information in your choice of the available software project plan templates.
How feasible is the project? This stage involves defining its scope, assessing its technical, economic, and legal feasibility, evaluating risks involved with the project, and then putting all this information into a report for stakeholders. Make sure to use your Gantt chart for software development to help plan this.
Assuming that the project is feasible, the next stage is project planning. Here, you’ll set goals, identify tasks and dependencies, begin allocating resources, plan for risk management, set up communication capabilities for development teams, plan for quality assurance, and more.
Your next stage is designing the user interface. This will involve several steps, from creating wireframes and designing UI elements to user flow mapping and UI testing.
Technical design involves designing the data structure and system architecture, developing security protocols, optimizing performance, and other steps.
Finally, you’ll begin development. The steps here will vary depending on the development model you’re using, but will usually include setting up the coding environment, configuring databases, implementing functionality, implementing the UI, optimizing the code, and then reviewing the code.
Finally, the software must be fully tested for functionality and to remove bugs before being deployed. Both testing and deployment are in-depth stages with multiple steps, including performance testing, system testing, system configuration, system launch, and post-deployment testing.
From business tools to consumer applications, a software development Gantt chart like Tom’s Planner streamlines your development process and provides the granular planning capabilities you deserve.
Nothing will make you miss deadlines faster than bug-filled software. Test after each stage of development, then before deployment, as well as after deployment.
Stakeholder communication and approval are crucial to meeting your deadlines. Identify stakeholders early in your planning and keep them involved using a tool like Tom’s Planner.
Failure to plan your resources accurately could mean costly holdups in development. Make resource planning, allocation, and management central parts of your planning process.
For the project owner to get the most value from the product, users will need to be trained. Plan time for user training. This often occurs after deployment, but it is a critical stage in the software development lifecycle.
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Sharing charts with others | At some point you will save and email a file titled: version_4_def_usethisversion_reallyfinal.xlsx | Online, one source of truth, always up to date, with no confusion |
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Writing a software company 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 ...
A Sample Software Development Business Plan Template. 1. Industry Overview. The software development industry has grown in the space of a century from an almost on-existent industry to one that is not only a billion dollar industry but an indispensable one, especially as software form the basis of modern gadgets and devices.
Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a software company business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of software company that you documented in your company overview.
How to Write a Software Development Business Plan in 7 Steps: 1. Describe the Purpose of Your Software Development Business. The first step to writing your business plan is to describe the purpose of your software development business. This includes describing why you are starting this type of business, and what problems it will solve for ...
Below is a software business plan template to help you create each section of your own Software Company business plan. Executive Summary Business Overview. SimpleBooks Inc. is a new accounting software company located in Seattle, Washington. We produce an accounting product that helps small and medium-sized businesses with all of their ...
A business plan template specifically designed for software developers offers numerous benefits, including: Streamlining the process of creating a comprehensive and professional business plan; Providing a clear roadmap for success and guiding the growth of your software development business
5. ClickUp Software Comparison Template. Compare different tools and services side-by-side in one place. This Software Comparison Template by ClickUp is built for more general decision-making than just software development. But applied correctly, it can still be valuable to numerous use cases.
The executive summary of a software business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan. Start with a one-line description of your software company. Provide a short summary of the key points in each section of your ...
Let's go through the content of each section in more detail! 1. The executive summary. In your software development 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.
A software project plan gives your development team a big-picture understanding of what it will take to get the job done on time and budget, including: Estimated time to complete work/sprints. Important milestones, dependencies, deadlines, and deliverables. Resources needed to accomplish each phase.
Here is a sample business plan for starting a mobile and PC software development company. BUSINESS NAME: Sandracast Software developer. Executive Summary. Our Products and Services. Vision Statement. Mission Statement. Business structure. Market Analysis. Sales and Marketing Strategy.
FoodFun LIS is a start-up organization. The following assets and professional services will be needed for the formation and start of operations. Legal services for company formation. Accounting services to set up the accounting shell of the company QuickBooks Pro software. Computer programmers (3) to rapidly develop the software.
A software development plan is a comprehensive roadmap for your software project. It helps outline the entire process and strategy for developing software, including timelines, resources, and tasks required to meet the project's needs. The plan acts as a structured guideline for the development team and stakeholders throughout the project.
Write a Clear and Comprehensive Software Development Project Plan for Your Startup with Template.net's IT/Software Business Plan Templates! Our Free Templates Have the Perfect Samples of a Business Plan. Create Financial Projections, Shipping Costs, Executive Summary, and Other Financial Sections in a Breeze. These Are Perfect for Entrepreneurs Who Need Detailed Plan Templates. Our Business ...
This template provides a framework for teams to create a plan that outlines the timeline, goals, stakeholders, resources, and budgets needed to successfully deliver a software product. 1. Define clear examples of your focus areas. When creating a Software Development Plan, it is important to first define the focus areas that you want to address.
1. Begin your company overview section by describing what your business specializes in and the technology behind it. This part of the company overview is intended to give readers and investors a general idea of your business. 2. Next, proceed to explain the nature of the industry and marketplace. 3.
These templates can be used to create a software development business plan that will be illustrative and detailed in its nature and structure. These templates can support information pertaining to the scope of the plan, purpose of the plan, various definitions and also acronyms and also abbreviations. Download Now.
That's where understanding how to write a software development project plan comes in. Let's explore the nine steps in writing an SDP below. 1. Define Project Scope & Objectives. Begin by clearly defining the project's scope and outlining the specific objectives you aim to achieve.
This simple software project plan template helps you successfully execute software development and offers you a task-based guide for future software project planning. Enter your software project's name, main deliverable (s), scope-of-work statement, project manager, and start and end dates. The template comes pre-built with sprint-by-sprint ...
Template 1: Six Months Software Development Product Roadmap Template. This PPT slide showcases an extensive six-month software development product roadmap. The presentation visually highlights milestones such as the community site beta, android mobile app launch, iOS mobile app launch, US web store launch, and holiday blackout.
Template.net eases out your paperwork with sample business plans made for software and IT companies. Each template contains professionally written content and headers that are fully editable on Template.net's online editor platform. When you browse through the collection of ready-made professional business plans, you can find content ...
Cost of launching a website - $1,000. Cost of throwing a grand opening party - $5,000. Miscellaneous - $8,000. From the following report, we would need an estimate of $300,000 to be able to start and successfully set up a software development company in San Francisco - California.
Getting your project off the ground is as easy as 1-2-3. Step #1. Click the 'start with template' button to open the Software Development Project Plan Template. Step #2. Register for a free account and watch a short video on using Tom's Planner. The account is free forever, with no strings attached. Step #3.