Having a great IDEA is not enough to start a business in the ICT sector. For an Entrepreneur to start an innovative business in the ICT sector there is need for a Business Plan including a financial forecast, a marketing plan and the Business Model. The NCB Technopreneurship Unit assist all those with an Innovative IDEA in ICT in the following:
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Having a great idea, good attitude and the entrepreneurial spirit is not enough to start a business as a Business Plan is the first step to getting started.
A Business plan will lay out the direction for the future of your company and begin to establish standards for success.
There are many outlines that you can use to write your business plan as given :
Financial forecasts help you in managing your finances. They are a future prediction of your business finances, as compared with statements, which provide details of actual results or progress.
Predicting the financial future of your business is not easy, especially if you’re starting a business and don’t have a trading history. However, forecasting and making adjustments frequently will enable you to become more accurate
An effective marketing plan will act as a reference document to help you to execute your marketing strategy. It will also help you to develop a methodical approach to creating services and products that satisfy your customers’ needs.
When writing a marketing plan you need to be clear about your marketing objectives and how you’re going to achieve them. A good marketing plan sets realistic and measurable objectives; includes budgets and action plans, and allocates responsibilities.
Your marketing plan will include the following elements as given :
A Business Model describes the value an organisation offers to its customers. It illustrates the capabilities and resources required to create market and deliver this value and to generate profitable and sustainable revenue streams