Developing your Company

Opportunity Analysis

There are many small office/home office business owners who use computers in their daily operations, however, they require a quick-response, reliable source of technical help for their computers. Excellent Computer Consulting will offer small home and office business owners a speedy response, the dependable wellspring of specialized help for their computers. ECC will offer three primary services that are Hourly Technical Aid, Project consulting and Retainer contracts for particular skills or frameworks. ECC will begin with some fundamental deals writing, including logo and stationary, a leaflet, and an essential site page which will be self-designed and computer produced, obviously. There seem, by all accounts, to be four principle classes of rivalry, the biggest of which comprises of individual proprietors and smaller consulting firms, for example, ECC. The aggressive edge for ECC will be to develop effectively existing connections (Frank Moyes and Stephen Lawrence, 2013). The fulfillment of services will be given solely by ECC’s proprietor. Technology is clearly a basic segment of this business: It will be imperative to remain state-of-the-art on both hardware and information to stay aggressive later on. The nearby market for this business is not new and hence is totally open for new and growing consulting firms.

The market segmentation that makes this business viable are home office businesses that have a growth rate of 10%, small businesses  that have a growth rate of 9%, medium businesses that have a growth rate of 9%, and large businesses that have a growth rate of 9%. Home office business are small businesses primarily based out of the owner’s home. Small businesses have employees ranging from 1 to 99; medium businesses have 100-499 employees; and large businesses have 500 or more employees. The growth and size of the numbers are based on the US Census data for the local region.

Entrepreneur Magazine recommends six market portions as a beginning stage namely  organizations not using computers,  Small business organizations utilizing one or more computers, small to medium measured corporations utilizing computers on the networks, substantial corporations looking for problem-solving help (investigating) with particular projects; government offices, enterprises, and different associations looking for computer training; and organizations looking for custom computer programming services.

This business idea is viable because rapid technological growth requires continuous upgrade in software and hardware which is the service that the venture is seeking to provide. According to Entrepreneur Magazine, the consulting industry will continue growing at an annual rate of 9.1% which is good for the venture. There are three different opportunities existing for computer consultants. Firstly, there is Temporary Technical Aid such as short term assignments that find solutions for businesses which are the largest market. Secondly, specific skill is the second largest area and includes system setup & purchasing guidance, Database/Application development, repair, data storage, security/data protection and systems reengineering/optimization among others. Finally, there is bail-out or trouble shooting.

 

 

 

 

 

 

Developing the Plan and Setting Up the Company

The business idea to be marketed is computer consulting business named Excellent Computer Consulting (ECC).  Currently, ECC is in the process of being established as a sole proprietorship. ECC will be operated and owned by John Doe. This plan is written specifically to introduce and market the entrepreneur idea to the public and will likewise serve as the reason for a different, point by point marketing plan (Blackwell, 2011). The Plan’s main points are as follows:

  • The main objectives of ECC are to generate profit, develop at a challenging and sensible rate, and to be a decent resident.
  • The mission of CCC is to offer quick and reliable technical help to small officer users of the computer.
  • The keys to success for ECC are responsiveness and quality, marketing and networking, and generating repeat customers.
  • The introductory essential services offered will be an hourly specialized guide, despite the fact that retainer contracts and activities will be considered later on growth.

Company Summary

Excellent Computer Consulting is a start-up business idea with the accompanying qualities:

  • Initially, ECC will be a sole proprietorship.
  • The objective will be to begin the business idea as modestly as possible, with no use of debts.
  • ECC will be a home office start-up, using one studio room in the proprietor’s home.

Services

Service Description

Excellent Computer Consulting will offer three fundamental services, relating to what industry specialists have distinguished as the essential open doors in computer consulting:

  1. Retainer (Specific Skill) and the most conventional type of counseling, including consistent framework support, programming and equipment updates, and system organization. The proprietor’s specific territory of ability is in administration counseling with respect to MIS.
  2. Hourly (Temporary Technical Aid) – The less conventional kind of transient task helping an organization understand a product or equipment related issue and it incorporates both crisis and non-crisis specialized help.
  3. Project (Bail-out or Specific Skill) – This will incorporate consulting on real buys, framework/arrange establishment and testing, and significant disaster recovery.

Sales Literature

Excellent Computer Consulting will begin with some fundamental self-created writing to build up introductory positioning such as logo and theme, stationery – The topic paper is accessible in different arrangements for use as organization stationery; brochure – also, the pre-printed paper is accessible, alongside programming layouts for creating a brochure. In addition, ECC requires a web Presence and eventually an electronic brochure will be developed in the form of the website as well as a resource website for the established customer base of the proprietor. Finally, there will be response templates; these are sets of standardized templates for beginning reactions to help in solving common problems. This will reduce the reaction time and wipe out perplexity in giving brisk answers for routine issues.

Competitive Comparison

There are by all accounts four noteworthy classes of rivalry in the nearby computer consulting industry:

  • Computer and gadgets stores that provide consulting services. Individual proprietors and small consulting firms who comprises the greater part of the Yellow Page promotions.
  • In-house MIS experts who bigger organizations usually employ as such firms can manage the fixed cost of a salaried or hourly worker.
  • Larger system and media communications consulting firms that are large firms that specialize in offering aggregate MIS services to bigger organizations that outsource.

Obviously, Excellent Computer Consulting fits into the biggest gathering as a sole proprietorship. The essential reason that clients would purchase from ECC instead of contenders is the current relationships that exist. Client reliability and fulfillment are the best approach to accomplishment for small service organizations, such as Excellent Computer Consulting.

Market Analysis Summary

Excellent Computer Consulting will use a decently eagerly engaged market technique.

  • The biggest and most logical target markets for ECC are the Home Office and Small Businesses. These organizations, for the most part, have a requirement for the transitory specialized guide, generally charged at an hourly rate. Some open door exists, but, for a retainer and additionally specific project contracts (Entrepreneur.com. 2016).
  • A logical segmentation divides the market into the Small Businesses, Home Office Businesses, Medium Businesses and Large Businesses.
  • Although there are a reasonable number of rivals in the neighborhood, they appear to be broadly particular and generally estimated, leaving sufficient open door for ECC to make and grow a niche in the picked market segments.
  • Finally, it is evident that the market’s growth trend is assessed at around 9 to 10 percent yearly through the start of the following century.

Marketing Programs

The ECC‘s most imperative marketing program is to get the word out, with the help of a mix of the following:

  • Following the well-established steps of an advertising effort such as press releases and announcements, and so forth.
  • Sending an announcement letter and brochure to every current contact and clients.
  • Establishing and acquiring grand opening announcement in the local news media.

Positioning Statement

For the domestic undertaking/private venture proprietor who needs specialized help with their business Computers, Excellent Computer Consulting gives quick and viable responses that recover the business up and running. ECC offers a 100 percent satisfaction guarantee unlike its rivals (Schiraldi & Silva, 2012).

Pricing Strategy

Excellent Computer Consulting will embrace a price matching strategy as opposed to entry pricing. A review of neighborhood consulting organizations uncovered the following:

  • Retainer Pricing is having an average price of $155 based on the normal minimal number of hours every month.
  • Hourly Rate pricing which charges a normal price of $85.00 every hour.
  • Project Pricing which is $680 based on a day by day rate.

Promotion Strategy

In order to remain ahead in the market, the essential advancement procedure for ECC will be straightforwardly in accordance with the system pyramids. The lead system will be to concentrate on developing existing relationships, utilizing known networking techniques in creating referrals and new client leads. Additionally, there will be a mix of online marketing and conventional advertising and media marketing. However, the final promotion strategy will be to guarantee consumer loyalty: cheerful clients to create repeat and new business (Honig & Karlsson, 2004).

Sales Strategy

Excellent Computer Consulting’s sales strategy is simple and clear: consumer satisfaction! Customers who are happy often becomes repeat customers, and they will give referrals to new clients.

  • Sales forecast figures depend on industry figures for the common growth of a consulting startup and indicate repeat business created by addressing client needs.
  • Sales programs must be founded on the thought that business is driven by client demand when issues emerge. Although some business can be created by requesting clients to update their software and systems, all things considered, the greater part of the business would be an emergency technical aid.

 

Acquiring Financial Partners – Sources of Funding

There are several sources of finance at the disposal of the company; however, for the start it will not use any debt. With regards to the organization theory of keeping away from the utilization of obligation, the objective is to fire up as cheaply as possible. This is in accordance with industry estimates that demonstrate that Computer consulting new businesses are perfect entrepreneurial opportunities requiring low start-up expenses. For instance, the total start-up expenses for ECC come to only $3050, all of which will be financed through proprietor investment (Blackwell, 2011).

Most of the initial expenses are typical start-up paperwork fees such as legal and accounting among others. Cash requirements are rents for one month as a reserve and $650 for expensed equipment will be utilized in purchasing All-In-One printer, fax. Excellent Computer Consulting will be initially established as a sole proprietorship, owned and operated by John Doe but a later option will be incorporating it as an LLC. As an LLC it will use sources of finance such as trade credits, loans from financial institutions, debentures as well as share capital. Such sources of finance will be key in the expansion and growth of the venture in the future.

 

Determine the Resources Required and Implementation

A starting budgetary examination of the feasibility of this entrepreneur idea demonstrates extraordinary guarantee and results. A few sources take note of that the computer consulting business is anything but difficult to begin, requires little in advance capital, and can possibly be entirely lucrative in today’s cutting edge world (Score, 2012). Taking everything into account, this business idea projects quick growth as well as high net benefits throughout the following three years. Actualizing this business idea in connection with an exhaustive and definite advertising arrangement, will guarantee that Excellent Computer Consulting quickly turns into a beneficial business for the proprietor (Frank Moyes and Stephen Lawrence, 2013).

Being a home office venture, ECC will be situated in one studio of the proprietor’s home with resources such as computer facilities initially consisting of the proprietor’s current framework, and telephone.  Since it is a sole proprietorship, the satisfaction of services for ECC is given by the proprietor. A definitive deliverable is the proprietor’s mastery and critical thinking capacity, combined with a receptive outlook and simplicity of correspondence that will bring about the client’s entire trust in quick and enduring results. In addition, technology is, obviously, imperative to the accomplishment of Excellent Computer Consulting. It is basic that the proprietor remains avant-garde on the most recent technological advancements in the computer business. Moreover, it will be critical to commit a sensible part of every year’s incomes toward redesigning the software and equipment utilized by ECC as a part of its typical operations (University, 2010).

Although there will be one employee for the start; he will be driven by the ECC’s purpose of existing to offer quick, dependable specialized help to nearby small business computer users. ECC offers solutions and results! This will help in creating a culture of integrity and accountability. Employees will be required to give a quick response, educated skill, and reliably excellent quality, ECC produces enough fulfilled repeat clients to give a steady retainer base. This produces an adequate benefit to give a comfortable living to the proprietor. In order to develop a competitive advantage, the venture will be developed into a steady and productive element that the proprietor can comfortably and easily oversee (Trakin, 2008). The essential reason that clients would purchase from ECC instead of contenders is the current relationships that exist. Client reliability and fulfillment are the best approach to accomplishment for small service organizations, such as Excellent Computer Consulting.

 

Scaling and Harvesting the Venture

Excellent Computer Consulting will be initially established as a sole proprietorship, owned and operated by John Doe. In order to scale the venture, the owner will seek strategic alliances. Excellent Computer Consulting should concentrate on networking with nearby computer stores and neighborhood business associations, for example, local SBDC and Chamber of Commerce in creating strategic alliances so as to have a competitive edge. Such associations, which may not be clients in themselves, will be helpful in giving leads new clients (Entrepreneur.com. 2016).

The proprietors of ECC will exit this endeavor after having created a thriving business that could be sold for a considerable benefit as well as a franchise that could serve the local rural groups within the region. It is the proprietor’s expectation to maintain this business until they are prepared to resign or have chosen to sell the venture and begin another. A later option will be incorporating it as an LLC. Incorporating the company as a Limited Liability Company will also help in scaling the venture.

In the occasion the proposed plan is not fruitful the proprietor will actualize important measures to exit the venture with insignificant harm to the proprietor. All the merchandise and equipment will be sold to cover outstanding debts by that time. Any outstanding obligation will be met by the proprietor in the form of monthly installments until all the obligations are fully paid.

The achievement of the business will be checked month to month in the first year and quarterly in the consequent years. The proprietor know that it more often than not takes new venture three years to begin realizing profits and that the venture could operate at a loss within that duration. The proprietor will remember this while assessing the condition of the business, and make modification when conceivable to keep the business running with a positive income.  However, in case the business exceeds the determined acceptable loss and cannot compensate the owners, we will start the way toward shutting the business and paying back obligation.

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