Ma Joanna Rieza Chua

BUSINESS PLAN 2021 Confidentiality Agreement The reader acknowledges that the information provided by THE COMPANY in this business plan is confidential; therefore, the reader agrees not to disclose it without the expressed written permission of the director. 2 Contents Executive Summary.................................................................................................... 5 Chart: Financial Highlights .................................................................................................................................................................................................................. 6 Business Description ................................................................................................... 6 Company Summary ................................................................................................. 6 Management .......................................................................................................... 6 Need to be in LOCATION to Conduct Business Activities ............................................... 7 Mission .................................................................................................................. 7 Objectives .............................................................................................................. 7 Products and Services .............................................................................................. 7 Future Product Development .................................................................................... 8 Locations and Potential Space ................................................................................... 9 Reasons for Choosing LOCATIONS ........................................................................... 10 Economic Benefit .................................................................................................. 11 Key Buying Industries ............................................................................................ 11 Regulation and Policy............................................................................................. 12 OH&S POLICY ....................................................................................................... 12 Personnel Plan ......................................................................................................... 12 Table: Personnel ....................................................................................................................................................................................................................................13 Chart: Organisational Structure .......................................................................................................................................................................................................13 Position Brief ........................................................................................................ 13 Training Plan ........................................................................................................ 14 Market Analysis .................................................................................................... 15 Demand Determinants ........................................................................................... 16 Key External Drivers .............................................................................................. 16 Major Markets Segmentation .................................................................................. 17 Chart: Major Market Segmentation ................................................................................................................................................................................................. 17 Competition .......................................................................................................... 17 Competitors ......................................................................................................... 18 Competitor Locations ............................................................................................. 18 Map: Competitor Locations .................................................................................................................................................................................................................18 Business Strategy .................................................................................................... 19 Strategy and Implementation Summary ................................................................... 19 3 Customer Service .................................................................................................. 19 Infrastructure Equipment ....................................................................................... 20 Products and Services Segmentation ....................................................................... 20 Chart: Products and Services Segmentation ...............................................................................................................................................................................21 Clients ................................................................................................................. 21 Suppliers.............................................................................................................. 22 Keys to Success .................................................................................................... 23 Competitive Edge .................................................................................................. 23 Growth Strategy ................................................................................................... 23 Sales Strategy ...................................................................................................... 24 Marketing Strategy ................................................................................................ 25 Swot Analysis ....................................................................................................... 26 Milestones ............................................................................................................ 26 Financial Projections ................................................................................................. 28 Initial Expenses Summary ...................................................................................... 28 Table: Initial Expenses ........................................................................................................................................................................................................................ 28 Table: Funding ....................................................................................................................................................................................................................................... 29 Chart: Funding ....................................................................................................................................................................................................................................... 29 Sales Forecast ...................................................................................................... 30 Table: Sales Forecast .......................................................................................................................................................................................................................... 30 Chart: Sales by Year ............................................................................................................................................................................................................................ 30 Break-Even Analyses ............................................................................................. 31 Table: Break-even Analysis ...............................................................................................................................................................................................................31 Chart: Break-even Analysis...............................................................................................................................................................................................................31 Projected Cash Flow .............................................................................................. 32 Table: Cash Flow ................................................................................................................................................................................................................................... 32 Projected Profit and Loss ........................................................................................ 33 Table: Profit and Loss ......................................................................................................................................................................................................................... 33 Chart: Profit Yearly .............................................................................................................................................................................................................................. 34 Projected Balance Sheet ........................................................................................ 35 Table: Balance Sheet........................................................................................................................................................................................................................... 35 4 Executive Summary We live in a time where technology has brought people closer together. We now have access to more complex and effective communication methods because of developments in communication technology. People may communicate with one another through electronic means, allowing organisations and businesses to better engaged with partners and employees. Technology has enabled us to seamlessly connect with people anytime and anywhere in the world. Building and sustaining great connections with partners, suppliers, internal teams, investors, and consumers is critical for innovative and modern organisations to develop and globalise. Using mobile devices, adopting audio and video conferencing and other systems, businesses can adjust to maintain effective communication. COVID-19 brought attention to LOCATION excellent technical innovation capabilities. Technological innovation is important on a global scale because it increases the complexity of established but less complicated businesses while also creating new markets in more complex industries. And, when our economy recovers more quickly and effectively than other areas that have closed theirs, there is a once-in-a-generation opportunity to capitalise. I have decided to invest and integrate a business in LOCATION that will highlight the state’s technological advancements. NAME OF COMPANY is to be a telecommunications company that will focus on numerous initiatives, including the Hyperrtc service that allows businesses and startups to interact with their consumers via voice or video calls. The business’s headquarters will be situated in LOCATION. I, Mr MANAGING DIRECTOR, will be the sole proprietor and managing director of the business. My business’s services are offered to IT-related businesses and other businesses to utilise technology and integrate in-app calling into their services, giving them a competitive edge in the market. Hyperrtc service uses the latest calling technology (WebRTC) to make Internet calls (without telecommunications equipment) on a flexible and stable web service (API) for its customers that allow them with using the API in their mobile application or website, create a voice or video call with commercial capabilities such as call recording, call duration, and invisibility of recipient and sender number. Active customers of service include online transportation services, online stores, and retail (E-Commerce) online consulting services, and health and medical services, which due to the current situation, the number of such services is increasing day by day. With the growth of the target market, the volume of the Hyperrtc service market will also grow. Two experienced workers, a software analyst, and a project manager are required to implement the prototype of this service. As a result, I want to hire two full-time and two parttime staff in LOCATION and spend at least $ for its establishment. 5 I am the CEO and Co-Founder of A COMPANY, which was established in 2011 in LOCATION to provide software web-based technical services for companies active in the IT industry. During the last # years, we have provided technical web services for IT-based companies and have managed to produce two products: a product based on sending and receiving text messages on the API platform via integration with open source services that has attracted nearly 10,000 active customers; and a product called PRODUCT, an uptime monitoring service to measure Web Services API availability. My background in the same business industry emboldened my interest to seek what more the industry has to offer. As a business owner, I have an intense desire to engage and explore further in the field that I am involved in. Upon my research, I found LOCATION as the best prospect location, the industry revenue that my business is involved in is forecast to increase at an annualised 2.9% over the five years through 2025-26, to $24.2 billion. Industry profit margins are projected to increase over the period, largely due to sustained demand for wireless devices that offer fast mobile internet browsing capabilities. Chart: Financial Highlights Business Description The following are the various business aspects of NAME OF COMPANY: Company Summary NAME OF COMPANY is to be a telecommunications company that will focus on numerous initiatives, including the HyperRTC service that allows businesses and startups to interact with their consumers via voice or video calls. The business’s headquarters will be situated in LOCATION with two full-time and two part-time employees with a budget of at least $. Management My name is Mr MANAGING DIRECTOR and I will be the sole proprietor and managing director of NAME OF COMPANY. As an experienced business owner, I know how imperative it is to supervise my own business. My responsibility includes all administrative activities, purchasing, inventory control, and promotions. I will oversee my everyday business operations, especially as a company operating in a different country with different practices 6 and considerations, I have to supervise my business closely. It will also be my job to choose and handpick the people I will employ in my business and make sure that I only hire the most competent ones. Need to be in LOCATION to Conduct Business Activities With this new venture in LOCATION, I must be present at the site of my company. I need to be able to maintain a close eye on the day-to-day activities of the company. I'll make sure that all of my staff are well-managed. My experience as a business owner has taught me the importance of being able to track what comes in and out of my company to achieve success. Mission NAME OF COMPANY will transform business interactions into a real-time audio and video experience on any device or platform by using our technology and innovation to make a live video call. Prioritise customer value While a variety of variables may influence the choice to update IT, one overarching aim must be met: to deliver value. Every development of technology should increase the advantages to end consumers, whether through improved experiences, higher product quality, or costcutting and value-adding operational efficiency. Engage with workforce and culture IT modernisation is frequently seen primarily as a technological issue. Changes in technology, on the other hand, can only be sustained if people accept and embrace them. As a result, we must match our new processes with the company's culture, beginning with a clear understanding of the new behaviors that will be required. Be adaptable and user-centered Divide the modernisation roadmap into distinct delivery milestones, with useful functions released regularly. It is preferable to be unfinished and quick than complete and sluggish, as long as we get frequent system user input and use it to lead us on the right path. Objectives Our aim as a modern business is to ensure to constantly adapt to today's fast environment, which necessitates continual innovation in goods, services, and processes. NAME OF COMPANY’ systems must likewise be versatile in order to keep up. Traditional technology management regards systems as assets that a firm owns and manages. Our contemporary perspective views technology as a set of services that a business may use and integrate as needed. Companies such as us may then choose and mix services from a variety of best-in-class suppliers, all within a framework that meets our needs. Products and Services As I develop NAME OF COMPANY in LOCATION, I draw inspiration from my company's products and services in LOCATION. Elaborated on the next page are the services that my business will offer: 7 HyperRTC internet calling service This may be used to enable in-app internet calling in a variety of apps. By including the HyperRTC calling in iOS or Android app, one can easily add internet calling to their service. Caller and receptor can be an android or iOS application or even a web-app. Steps of a call: 1. Making calls using a REST web service Making a call is the initial step; in this example, your backend should make an HTTP request to the HyperRTC REST API. As a result, for each requested call, you will obtain Call ID and an Access Token. 2. Interchanging messages-status of send and receive calls These variables would determine the state of a call request in this step: missed, accepted, and refused. 3. Conversation (send and receive audio) In this section, the caller and receptor will connect via a media server, which will be called by us, and then the caller and receptor will be able to begin their discussion. After receiving the call request from the Receptor, the Server will open a session in the media server and instantly place the call into “conversation” mode. Features: ❖ Support for weak 2G networks This service dynamically adjusts call quality and bandwidth consumption based on the bandwidth of the receiver and transmitter, which makes it possible to make calls on weak networks with a high latency such as 2G ❖ No geographical restrictions ❖ Ability to record conversations ❖ Web Console Panel Having a web management console to view the statistics of successful and unsuccessful calls and the list of calls made, call files and control End Point and troubleshoot API calls to make it easier for you to manage this service Web SMS service You may send and receive SMS using the NAME OF COMPANY SMS online service from any software or hardware platform. By providing a versatile API, this service enables you to send and receive SMS with just a few lines of code. Features: ❖ Send international SMS ❖ Easy troubleshooting ❖ Free SMS web service ❖ SMS arrival guarantee Future Product Development I assure that my company will be kept up to date on industry trends. I recognise that I must pay attention to changing client tastes and preferences, corporate strategy and procedures, and technology advancements. By doing market research on a regular basis, I will assure the constant upgrading and formulation of new methods. 8 Locations and Potential Space After my careful consideration of the aspects for the location of my business, listed below are the potential locations to put up my head office: ADDRESS: TYPE: PRICE: PROPERTY INFO: ADDRESS: TYPE: PRICE: PROPERTY INFO: 9 ADDRESS: TYPE: PRICE: PROPERTY INFO: Reasons for Choosing LOCATION LOCATION is recognised for being one of the first countries to adopt new technology. It has one of the highest rates of internet connection in the world when the new millennium began. LOCATION (LOCATION) has a prosperous, growing and economically diverse industry base. It is one of LOCATION's economic powerhouses, primarily driven by thriving service industries. The technology sector in LOCATION In LOCATION and LOCATION, we can partner with local and global businesses and get direct access to innovative research and facilities. We will also be well-placed to expand into the Asia-Pacific. LOCATION’s technology sector is thriving and expanding, and the LOCATION Government is committed to maintaining this momentum over the long-term by forming strong partnerships with other governments, industry and urban and regional community. LOCATION is home to 40% of LOCATION's ICT firms, LOCATION's world-leading research and development institutes, and more than 40% of the country's startup founders. 10 The state’s thriving innovation and technology sector is aided by world-leading infrastructure, cost competitiveness, government support for business, a diverse and highly skilled workforce, and advanced research and innovation institutions. Quickfacts: the state of the technology industry ❖ LOCATION is ranked 17th out of 25 cities in A.T. Kearney’s Global Cities Report 2017 ❖ LOCATION is #1 in LOCATION for R&D spending and is home to 37% of the MedTech companies in LOCATION ❖ The LOCATION Medical Device Commercialisation Training Program delivered by Cicada Innovations aims to help commercialise novel medical device innovators and includes 70 companies in its portfolio ❖ Approximately 60% of LOCATION’s FinTech companies are based in LOCATION and the city has received the dominant share of FinTech venture capital in the country at A$171 million (between 2014 and 2016) Economic Benefit I have determined that the company will have a beneficial impact on the LOCATION economy. These contributions may help the economy grow either directly or indirectly. NAME OF COMPANY will contribute by aiding in the hiring of local personnel, infrastructure expansion, local economic growth, and other initiatives through tax returns as a result of its creation. Key Buying Industries Listed below the are key buying segments I have identified for the industry I am in: 1st Tier ❖ ❖ ❖ ❖ Consumers in LOCATION Finance in LOCATION Telecommunications Services in LOCATION Houseware Retailing in LOCATION 11 2nd Tier ❖ Accounting Services in LOCATION ❖ Legal Services in LOCATION Regulation and Policy The industry is regulated to a moderate extent, and the amount of regulation is steadily reducing. The Telecommunications Act 1997 allowed for an increased scope for industry selfregulation, ……… industry body is the LOCATION Mobile Telecommunications Association, which is the national body representing the industry. OH&S POLICY The management places a high priority on the occupational health and safety of our workers, contractors, and other people who are affected by our activities. As a result, our major goal is to "achieve and maintain the greatest practical degree of health and safety management in all aspects of the company's activities." To this end, my company will ensure that: ❖ Risks and hazards shall be minimised to prevent any impact on my employees, contractors and other parties involves ❖ Adequate precautions are taken to prevent ill health, injuries, incidents, damage to its employees, contractors and other parties ❖ The provision of applicable legislation, as well as health and management system, are complied with ❖ Protection of persons against ill-health To achieve our goals, it is necessary to: ❖ Train our employees in Occupational Health and Safety issues so as to, ❖ Ensure competence in the workplace ❖ Be aware of the potential hazards implicit in their work activities ❖ Be aware of their scope of authority to acceptable standards ❖ Ensure health and safety measure with discipline in the workplace ❖ Protect the public and persons other than company employees from health and safety hazards associated with our work Personnel Plan My company, NAME OF COMPANY, will ensure to hire only competent and hardworking employees into the available positions in the company. I understand how important a company's management team is, so I've gone through a rigorous process to ensure that we only hire and select those who have industry experience, have seen and identified with our company's vision and objectives, and will, as a result, do everything possible to ensure that we meet our goals and objectives. 12 Table: Personnel Personnel Plan Year 1 $ $ $ $ $ 4 $ Software Analysts 1 Software Analysts 2 Project Manager Computer Programmer Information Security Analyst Total People Total Payroll Year 2 $ $ $ $ $ 4 $ Year 3 $ $ $ $ $ 5 $ Chart: Organisational Structure Software Analyst I Mr MANAGING DIRECTOR Software Analyst II Project Manager Computer Programmer Information Security Analyst Position Brief I have identified the positions NAME OF COMPANY will need. The position description and their tasks are briefly stated below: Software Analysts The software analysts are responsible for all aspects of software development projects. They work with customers to develop an understanding of their needs and the specifications the project will require. 13 Tasks: ❖ ❖ ❖ ❖ Implement and test programs for business goals, ensuring fit to user needs Document existing systems, proposed modifications, and software requirements Participate in code reviews and provide technical expertise Analyse and modify software systems using a variety of coding languages Project Manager Our project manager is in charge of the company's specified projects. The job necessitates strategy development and planning, as well as setting the goals and timelines for the project(s) they manage. The project manager leads, directs, and supports the project team by coordinating, documenting, and assigning tasks. It is also necessary for the project manager to keep track of the project's budget, timetable, and resources. Tasks: ❖ Manages and communicates ongoing changes in tasks, goals, or performance ❖ Participates in client meetings, contract finalisation, and development of requirements and specifications ❖ Manages project budget to reach revenue, cost, and profit targets ❖ Assigns resources to projects and plan objectives and monitor progress ❖ Develops project plans and facilitates resolution of all issues to reach project goals Computer Programmer Our Computer programmer codes or writes computer software and writes, designs, debugs, troubleshoots and maintains source code related to various computer programs. He/she also ensures that all source code is written in programming languages that can be understood by the computer so that programs can then be used by end-users. Tasks: ❖ ❖ ❖ ❖ ❖ Works with designers and content producers Writes, modifies, and debugs software for server applications Writes code to create multi-threaded, networked server applications Uses source debuggers, program dumps, and performance monitoring tools Tests and documents software for server applications Information Security Analyst The information security analyst is responsible for providing security solutions for the company. His/her main duties include doing research, collecting data, developing secure strategies and maximising productivity. He/she also is in charge of implementing security principles while following strict privacy policies. Tasks: ❖ ❖ ❖ ❖ Documents, prioritises, and analyses security threats, incidents, and key metrics Reviews daily and periodic data to identify, report, and remedy vulnerabilities Configures and analyses security tools and software Coordinates with IT and end-users to minimise disruptions and protect assets Training Plan Training for us will be to assist create and motivate our skilled staff along the journey towards an effective workforce that. I will then organise a comprehensive training program to develop and enhance my employees’ skills individually and as a team. Following are several attributes I intend to implement in this. 14 Internal training I intend to provide internal training that covers customer service, technical aspects, time management and company rules and policies. The topics covered in the internal training are as follows: ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ Staff induction Detailed job descriptions and responsibilities Customer service training Refresher training will be conducted quarterly Weekly and monthly team meetings to encourage communication Reward and recognition program to encourage high achievers On-the-job-training for professional development Ongoing observational evaluations structured reporting (manager feedback) External training I have also recognised the importance of external complementary training to further improve our staff’s skills and capabilities. The external training includes external courses, off-the-job components, customer service workshops, and discussions about LOCATION’s geography, culture, economy and environment. Such topics may be: ❖ ❖ ❖ ❖ ❖ ❖ Improved productivity and quality Ability to generate more revenue Skills sharing Improved job satisfaction Career progression Safe handling of products Market Analysis Industry revenue has been boosted by rising smartphone use. The fast expansion of mobile data services has been aided by the popularity of Apple iPhones and Android phones. Over the last five years, the spread of 4G mobile technology has fueled subscriber growth and bolstered the industry's performance. However, Telstra, Optus, and TPG Telecom's limited pricing plans have reduced average revenue produced per user (ARPU) over time. Participation and profit Industry ……. due to the lack of coverage provided by 5G networks, these services are anticipated to provide new sources of profitability, ……… and latency of the network allow providers to charge higher prices and achieve higher margins. Operators are ……. numbers during the last five years. Over time, the growing demand for 4G mobile services in rural areas has boosted industry i nvolvement. 15 Growing data demand ……. data has risen fast as new value-added apps have entered the market and achieved widespread acceptance. Because video streaming consumes much more bandwidth than ordinary internet surfing, it is a big source ……. by enhancing the functioning of data-intensive apps like online gaming. 5G spectrum auctions Over the last five years, rising data demand has prompted carriers to buy more spectrum space. As analog television services have been ……. As a result of …… is scheduled for March 2021. With super-high speeds and minimal latencies, this mmWave 5G spectrum is much quicker than the existing 5G spectrum utilised by operators. Intensifying competition Industry operators have been offering more competitive packages, including as large phone subsidies and ……. The growing popularity of capped plans has lowered ARPU, which has slowed industry revenue growth in recent years. Increased rivalry has also compelled industry players to provide greater data allocations across the board. ……. data allotment. Demand Determinants Population and household income growth positively influence consumer demand. More individuals use ……… consumers of telecommunication services, such as banking and retail. The generation X and generation Y groups have increased mobile phone penetration and device throughput. These people are more likely to upgrade their phones in order to take …….. Demand may be boosted by implementing novel price structures and services that promote the use of other services (integrated cross-selling). …….., along with the lowering cost of phones, has significantly lowered the average revenue per user. However, the resulting subscriber growth has ultimately boosted demand and supported industry revenue. Key External Drivers The key external drivers of my business are as follows: Mobile telecommunications density The percentage of the population who possesses a mobile phone, a wireless internet connection (such as USB modems and wireless data cards), or any other device with wireless …… Demand from wired telecommunications network operation Wireless services have become a feasible replacement …… IT and telecommunications adoption New goods and services emerge as a result of …… 16 Real household disposable income The average revenue per user (ARPU) for mobile services is affected by changes in family disposable income. As disposable …... Major Markets Segmentation The services of the industry are used by consumers, corporations, and governments. Although industry services are frequently diverse and overlap, businesses might provide distinct bundles for several primary reasons. Chart: Major Market Segmentation Households Consumers are the industry's main market, and sales are mostly based on the carrier's value. ……. Businesses Businesses account for a significant source of industry revenue, with larger businesses often represent lucrative long-term contracts for …… Government Contracts with government agencies are important to the industry, as carriers can secure large long-term contracts, enabling ……. Competition Competition in the industry is based on price, quality and scope of service, type of devices offered, and to a smaller extent, on branding and marketing. The industry also competes with telecommunications resellers and wired telecommunications providers. Internal competition Price is the major basis of competition in a commoditised industry, as it is often difficult to differentiate products……. 17 External competition Mobile carriers compete against telecommunication resellers, which resell the excess capacity of mobile network operators……. Competitors The following are the identified competitors of NAME OF COMPANY: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: Competitor Locations In LOCATION, there are numerous software firms, but only a few that provide the same goods and services as my company. The following is map displays the location of these businesses: Map: Competitor Locations 18 Business Strategy I have identified my business’s strategy for the different areas of NAME OF COMPANY elaborated below: Strategy and Implementation Summary We want to be the market's leading and most innovative provider of Web-based business management software. We want to build a userfriendly application that can be used in any personal or professional setting. This will be accomplished by forming an inventive and forwardthinking development and management team. We'll also achieve our aim by incorporating client feedback into the development of our products and services. We want to use this new computer software product to dominate the burgeoning Web-based applications sector, particularly among small enterprises. We have a high-end, value-added product with three distinct packages from which the consumer may select the one that best meets their requirements. These key product lines will allow the target market to be dominated. These strategic product lines will enable domination of the target market. The products all share the core applications but differ in range of services. As a company, we feel that there are a number of opportunities we can capitalise on and they include: Small Businesses ❖ Improved communication. Meetings will be possible to be scheduled without incurring travel expenses. Our products break down the barriers that distance creates between team or group members. ❖ It is economical. It is cost-effective since it simply requires a monthly charge rather than large sums of money for setup and servers. Individuals ❖ Multiple software packages are no longer required. All required programs are in one location, and additional can be added at the request of the user, obviating the need to purchase different software packages. Customer Service Pricing will be a critical part of the company’s business strategy mix. Choosing the right price for the business’s products will assist in maximising profits and building strong relationships with their customers. With an effective pricing strategy, I will also avoid serious financial consequences that can occur if their price is too low (not enough profit) or too high (not enough sales). 19 Infrastructure Equipment Listed below are the equipment I will need for my business: 1. Computers Computers help in research, production, distribution, marketing, banking, team management, business automation, data storage, employee management and very helpful to increase productivity at a lower cost, less time with high quality. That is why the use of the computer is important in business. 2. Telecommunications equipment Telecommunication is an important tool for businesses. It enables companies to communicate effectively with customers and deliver high standards of customer service. Telecommunication is also a key element in teamwork, allowing employees to collaborate easily from wherever they are located. 3. Servers Servers not only help your business with data storage, but they will also improve efficiency and productivity. As employees can access data and information from any workstation it means they can work from home, while travelling or from a different office. 4. Network HUBs Hubs and switches serve as a central connection for all of your network equipment and handles a data type known as frames. Frames carry your data. When a frame is received, it is amplified and then transmitted on to the port of the destination PC. Products and Services Segmentation Wireless networks are becoming increasingly important in the general telecommunications sector as voice and text communication continues to move from fixed to wireless networks. This trend has affected both wired and mobile telecommunications carriers. Services are divided into multiple categories, depending on the type of product and end user they satisfy. The COVID-19 pandemic has not substantially altered the distribution of industry services, with underlying economic trends playing a much more significant role in market growth. 20 Chart: Products and Services Segmentation Postpaid services Postpaid services include all plans in which consumers …….. Prepaid services Prepaid services include all plans in which consumers …… Handsets and equipment Handset sales represent a significant share of industry revenue…… Data services Non-messaging data has been the stand-out …… Machine-to-machine communications Machine-to-machine (M2M) includes all automated communications ……. Satellite, television and radio relay Many smaller industry players provide specialised telecommunications applications,…... Clients This service is offered to IT-related businesses. This tool allows businesses and startups to interact with their consumers via voice or video calls. In other words, other businesses may utilise this technology to integrate in-app calling into their services, giving them a competitive advantage over their competitors. Other sectors include: Transportation services Transportation service providers, such as online taxis and intercity transportation, can utilise the Kavehnegar internet call service to give benefits to their customers, such as secure (anonymous) and free and quick calls, as well as recording talks to prevent harassment. 21 Online stores and retailers One of the essential demands of retail services is the ability to establish low-cost and secure communication between seller and is a buyer, which can improve the user experience and allow for faster transfer of information between the parties to the transaction. Internet consulting services Online consulting services that used to run on the telecommunications platform. And had problems such as telephone harassment and difficulty calculating the cost of consulting calls and the inability to record calls. Suppliers The following are the different suppliers in LOCATION that I have identified for my business: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: COMPANY INFO: ADDRESS: CONTACT: WEBSITE: 22 Keys to Success IBISWorld identifies 250 Key Success Factors for a business. The most important for this industry are: Development of a symbiotic relationship with another industry Telecommunications convergence is a key industry trend. ……… Ready access to investment funding As the industry is highly capital-intensive, firms require access to …….. Ability to quickly adopt new technology Industry operators must be……. Having a high profile in the market Given the industry’s commoditised and ………. Economies of scope Industry operators that offer a range of services can maintain competitive advantages through economies of scope……. Competitive Edge As the owner and managing director of my company, I am certain that my business expertise and knowledge will be the driving force behind our success in LOCATION. The company's intense emphasis on industry and market conditions will also aid us in selecting the proper sort of business and growth plans for my company. The strength of our team; our workers, is our competitive edge. We have a team of young techies who are creative and skilled in mobile app design and development, as well as a team with great degrees and expertise in ICT. Our services will be distinctive and different, in addition to the synergy that exists among our carefully picked mobile app developers and programmers. Growth Strategy Introducing new goods or adding new features to current products and services is part of our growth strategy. As a result, in the coming months or years, I will change and expand our product line to stay up with rivals and rapidly evolving technologies. We will also pursue a growth plan by identifying new target markets for our goods and services. Stay current on software updates and patches Sensitive data refers to any information we gather and analyse about our clients. We will need to update our security software on a regular basis and download patches to address any holes that are discovered to safeguard this data from potential hacking. 23 Maintain records of all data processing activities We must keep track of all of our data processing operations to be compliant. We must be able to immediately identify and retrieve any data gathered on anyone who submits this request by removing any data that is no longer relevant as quickly as feasible, have security processes in place that allow us to detect, investigate, and report data breaches within 72 hours. Schedule annual system penetration testing The Internet of Things (IoT) has exploded in popularity in recent years, with a considerable increase in the number of networked devices and endpoints. This has resulted in new network vulnerabilities, which can result in financial or reputational harm. We should schedule yearly system penetration testing to detect vulnerabilities and resolve them so that any IT systems we use, including IoT devices to stay compliant with security laws. Sales Strategy Customer expectations must always be exceeded. My company can only flourish if I guarantee that all of the client's demands are satisfied and that the consumer feels really valued at the end of the transaction. It's critical to get to know each customer, assess their particular needs, and then provide the proper advise and service. The following are our proposed sales strategies: Build a powerful value proposition We will create a buying vision that defines a new set of challenges that align with our distinct strengths. This powerful value proposition will uncover previously unconsidered needs for our prospect, create contrast, and drive the urgency to change using stories and insights. Create the urgency to change Understanding your true competitor—the status quo—is essential for a successful sales approach. Before we try to persuade our prospects to select us, we will assist them in making the decision to change. ALOCATIONering these questions is what sets the tone for our buyer's whole deciding journey and differentiates our solution. Tell a compelling and memorable story Personal tales, metaphors, and analogies may help bring our message to life in a more appealing way than just repeating statistics and figures. Storytelling creates a vivid image for our customers, demonstrating the difference between their present position and what is conceivable, and linking what we provide to their specific circumstances. Our customer interactions will become deeper and more fulfilling once we start sharing tales in our sales talks. Avoid the “commodity trap” in your sales strategy Too often, salespeople base their messages on the needs that prospects tell them they have. Then, they connect those identified needs to corresponding capabilities, in standard “solution selling” fashion. We must introduce solutions for unconsidered needs that go beyond the established, known needs. Introduce prospects to issues or lost chances that they've overlooked or are unaware of. Then, link the unconsidered needs we've discovered to our particular strengths, which are uniquely equipped to address those threats. 24 Align sales and marketing Sales messages and tools are created by marketing, and leads are generated for the sales team. The messaging and technologies are used by sales teams to convert those leads into money. However, a lack of coordination and holes in your process might jeopardise our efforts. Marketing Strategy We are aware that the mobile app development sector is more competitive, therefore we have been able to employ some of the top marketing specialists to handle our sales and marketing. Value-added applications are the message connected with our products. A succinct promotional strategy that will encompass a variety of marketing messages, including the ones stated below. ❖ ❖ ❖ ❖ ❖ Internet Public relations Trade shows Industry conferences and seminars Print advertising NAME OF COMPANY is set to make use of the following marketing and sales strategies to attract clients: ❖ Promptness in bidding for government and other cooperative organisation mobile app development contracts ❖ Create multiple packages for different types of clients in order to accommodate their budgets while still developing bespoke mobile apps and software ❖ Make use of the internet to advertise our company ❖ Use a direct marketing strategy ❖ Encourage loyal and satisfied customers to spread the news about the business 25 Swot Analysis High profit vs. sector average Low product/service concentration High competition High customer class concentration High capital requirements High revenue growth -) High performance drivers THREATS Low imports Low and steady level of assistance OPPORTUNITIES High and steady barriers to entry WEAKNESSES STRENGTHS Like all businesses, I have identified my company’s strengths, weaknesses, opportunities, and strengths. These are as follows: Demand from wired telecommunications Network operation Very low revenue growth -) Low revenue growth -) Mobile telecommunicati ons density High revenue per employee Milestones The following are the milestones for the development of Loop HyperRTC: Establish the business I will comply with all the requirements such as legal documents, GST registration, business plan, business documentation, and other requirements mandated by the local and national government bodies in LOCATION to establish my business. I will also obtain approval registrations from relevant organisations, departments, and trades in LOCATION necessary for my business. Location and set-up of the business The location where my business will be established is one of the key factors in our success. The business location is based on accessibility for consumers, good exposure to business and occupancy cost within budget. After finding the right location, I will set up and build the equipment needed for the facility. Recruitment of employees I have determined that it is essential for my business to have a strong workforce that will lead our operations. Therefore, the qualification of the potential candidate shall be determined first. This ensures that every employee possesses the characteristics and skills deemed important for the person’s respective position and corresponding duties and that these employees will deliver the best products and services. Training and induction of personnel Competent candidates are chosen carefully, and quality training will be executed by me as the director to prepare them for their work-related tasks necessary in my business. Employees 26 and staff are subsequently appointed to portray their specific roles based on their capability and level of expertise. Formal start of operations An important milestone of the business would be to formally accomplish the beginning of the business’s operations in LOCATION, LOCATION 27 Financial Projections The following sections outline the financial projections for NAME OF COMPANY: Initial Expenses Summary I am seeking to invest an initial investment of $ for the establishment of NAME OF COMPANY. The following is the breakdown of the initial expenses for the business: Table: Initial Expenses Initial Requirements Initial Expenses Advertising and Promotions Insurance Legal Professional Fee's - Accountant, Bookkeeper, Consultants Rent Utilities Web and App Design Total Initial Expenses Initial Assets Cash Required Other Current Assets Fixed Assets Total Assets Total Requirements $ $ $ $ $ $ $ $ $ $ $ $ $$ Cash and Asset Expenditure In the initial assets, the cash required consists of the following expenses: • 6 months’ worth of wages - $ • 6 months’ worth of inventories - $ The fixed assets section would include the following expenses: • IT equipment - $ • Electronic parts and materials – $ 28 Table: Funding The following initial funding table indicates that I will not loan any amount for the establishment of NAME OF COMPANY and will be investing in personal capital: Chart: Funding Initial Funding Initial Expenses to Fund Initial Assets to Fund Total Funding Required $ $ $ Assets Non-cash Assets from Initial Cash Requirements from Initial Additional Cash Raised Cash Balance on Starting Date Total Assets $ $ $ $ $ Liabilities and Capital Liabilities Current Borrowing Fixed Liabilities Accounts Payable (Outstanding Bills) Other Current Liabilities (interest-free) Total Liabilities $ $ $ $ $ Capital Planned Investment Owner Investor Additional Investment Requirement Total Planned Investment $ $ $ $ Loss at Initial (Initial Expenses) Total Capital Total Capital and Liabilities $ $ $ Total Funding $$ 29 Sales Forecast The projected sales forecast for NAME OF COMPANY indicates sales of up to $ for the first year and increasing to $by the third year of operations. Table: Sales Forecast Sales Forecast Sales Internet Calling Service Web SMS Service Back-up , Security and Date Recovery Services Total Sales Direct Cost of Sales Cost of Services Subtotal Direct Cost of Sales Year 1 $ $ $ Year 2 $ $ $ Year 3 $ $ $ $ $ $ Year 1 $ $ Year 2 $ $ Year 3 $ $ Chart: Sales by Year 30 Break-Even Analyses The break-even analysis chart shows the estimated break-even point between sales and profits. The horizontal axis shows monthly sales, and the vertical axis shows monthly profits. The slanting line shows the projected profit or loss at various sales levels. Where the line crosses, the horizontal axis is the break-even point. What this means is that the company needs this many sales to cover costs in a standard month. The chart below will serve as a guide to check on what it takes in sales to make a profit. The projected monthly revenue break-even is $31,224: Table: Break-even Analysis Break-even Analysis Monthly Revenue Break-even Assumptions: Average Percent Variable Cost Estimated Monthly Fixed Cost $ 25% $ Chart: Break-even Analysis 31 Projected Cash Flow The projected cash flow indicates a cash balance of $109,768 for the first year and increasing to $321,198 by the third year of operations. This greatly signifies the steady growth of the business in the local market. The following is the projected cash flow for NAME OF COMPANY: Table: Cash Flow Pro Forma Cash Flow Cash Received Cash from Operations Cash Sales Cash from Receivables Subtotal Cash from Operations Additional Cash Received VAT Received (Output Tax) VAT Repayments New Current Borrowing New Other Liabilities (interest-free) New Fixed Liabilities Sales of Other Current Assets Sales of Fixed Assets New Investment Received Subtotal Cash Received Expenditures Expenditures from Operations Cash Spending Bill Payments Subtotal Spent on Operations Additional Cash Spent Principal Repayment of Current Borrowing Other Liabilities Principal Repayment Fixed Liabilities Principal Repayment Purchase Other Current Assets Purchase Fixed Assets Dividends Subtotal Cash Spent Net Cash Flow Cash Balance Year 1 Year 2 Year 3 $ $ $ $ $ $ $ $ $ $0 $0 $0 $0 $0 $0 $0 $0 $ $0 $0 $0 $0 $0 $0 $0 $0 $ $0 $0 $0 $0 $0 $0 $0 $0 $ Year 1 Year 2 Year 3 $ $ $ $ $ $ $ $ $ $0 $0 $0 $0 $0 $0 $0 $0 $ $ $ $0 $0 $0 $0 $0 $ $ $ $0 $0 $0 $0 $0 $ $ $ 32 Projected Profit and Loss The projected profit and loss for NAME OF COMPANY shows a net profit of $63,375 for the first year and $122,618 for the third year of operations. Table: Profit and Loss Pro Forma Profit and Loss Sales Direct Cost of Sales Other Costs of Sales Total Cost of Sales Gross Margin Gross Margin % Expenses Payroll Payroll Taxes (National Insurance, etc.) Advertising and Promotions Insurance Legal Professional Fee's - Accountant, Bookkeeper, Consultants Rent Utilities Web and App Design Total Operating Expenses Profit Before Interest and Taxes EBITDA Interest Expense Taxes Incurred Net Profit Net Profit/Sales Year 1 $ $ $ $ Year 2 $ $ $ $ Year 3 $ $ $ $ $ 75.20% $ 75.00% $ 75.00% $ $0 $ $0 $ $0 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 33 Chart: Profit Yearly 34 Projected Balance Sheet The projected balance sheet shows a net worth of $ for the first year and increasing to $ for the third year of operation indicating a significant growth. The following is the balance sheet of NAME OF COMPANY: Table: Balance Sheet Pro Forma Balance Sheet Assets Current Assets Cash Other Current Assets Total Current Assets Year 1 Year 2 Year 3 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Year 1 Year 2 Year 3 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Paid-in Capital Retained Earnings Earnings Total Capital Total Liabilities and Capital $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Net Worth $ $ $ Fixed Assets Fixed Assets Accumulated Depreciation Total Fixed Assets Total Assets Liabilities and Capital Current Liabilities Accounts Payable Current Borrowing Other Current Liabilities Subtotal Current Liabilities Fixed Liabilities Total Liabilities End of Report 35