COMPUTER CONSULTING BUSINESS PLAN SAMPLE TEMPLATE
Do you know how to start an information technology consulting firm? Here is a “starting an IT consulting business checklist” that can help you establish one.
As an IT expert, one of the best ways you can put your skills to good use is by starting an IT consulting business. This is what we seek to discuss as we provide you with helpful tips that will be crucial to achieving your goals. If this applies to you, then you are in the right place.
Read on as we discuss some of the most important considerations to make.
By the end of this article, you will have gotten the basic knowledge of what it takes to establish an IT consulting company.
How to Start an IT Consulting Company
- Identifying your Area of Expertise or Niche
To become a major player in the IT consulting industry, you need to identify your specific niche. The most successful IT consulting businesses have been those in highly specialized niches. A great niche will include those with low competition, an impressive demand for specialized IT knowledge and skills, and those with great prospects for profitability.
Having specialized IT skills makes you stand out from your competition more easily. Also, it enables you to be easily identified by your target market. People are normally willing to pay more for specialized IT consulting services. This is because the number of people with such skills is few.
- Know why you are In the Business
This is a critical question you need to ask yourself. Many IT experts start their consulting firms with the wrong approach. This has led to the failure of many.
What do we mean by the wrong approach? They go into such businesses with the wrong motives. In most cases, their motivations are fueled by money.
If your reason for starting an IT consulting business is primarily due to the financial rewards, then you may want to reconsider your decisions. Getting into such business for the love of it will likely lead to success. Anything short of this is not advisable.
- Carry out Feasibility Studies
To succeed, a feasibility study is necessary. This allows you to measure the market by looking at critical factors that contribute to success. It also allows you to see how viable your business idea is.
Results obtained from such studies determine whether to go ahead with the business, modify some aspects of the business, or abandon the idea altogether.
- The IT Business Plan
This is a vital part of the business. In contains all the plans building up to the eventual unveiling of such business.
Your plan should answer important questions that include; what services will your IT consulting firm provide? What plans do you have for finding and attracting clients? What structure will your business adapt and why does this structure fit your business needs? What are your charges like?
While you want your charges to be competitive, be careful not to undersell yourself. There are expenses to be covered. These include rent, liability insurance, equipment purchase and maintenance, and employment taxes among others. Underselling yourself will result in running your IT consulting business at a loss.
- Committing Extra Time
When an IT business is in its infancy, it requires the commitment of extra time. This is meant to help the enterprise achieve stability. Because you will not be expecting an immediate stream of income from the business, it is important to be prepared financially.
For some IT experts, they hold onto their current jobs until their new consulting business is mature enough to demand their full attention.
Because you are responsible for running the business, it requires full and absolute dedication. This increases the chances of success tremendously.
- Equipment Needed
The type of equipment needed for starting an IT consulting business depends on your chosen area of specialization.
You need to consider the type of equipment required. The basics will include a computer, a reliable internet connection, a comfortable work desk and chair, and other office furniture and tools.
- How About Employees?
As a new IT consulting business, hiring employees may be unnecessary. This is due to the size of the business. This means that you will need to multitask yourself. This requires taking up several responsibilities. You are your own HR, marketer, and accountant, etc. You can handle these various tasks with the hope that this will not continue indefinitely.
Satisfying your first clients will be a major boost for your business. Before long, more clients will require the hiring of new employees.
- Where will your Office Be?
Starting an IT consulting business requires choosing a workspace that is conducive for business. You may decide to start from home or rent an office space. There are several other options you may have in mind. The beauty of IT consulting is that it can be done remotely.
Hence if you hate being tied down to one location, you can travel the world while handling your business efficiently.
- Choosing your Insurance
IT consulting businesses require good insurance cover. There are several options to choose from. With a good insurance cover, all your business assets are covered. However, if you operate your business out of your home, homeowner’s insurance offers limited coverage. To safeguard your business, you will need to apply for additional coverage for your business.
Apart from the usual procedure for establishing a business, these are some of the most important requirements for establishing or starting an IT consulting business. They contribute immensely to running a successful and highly productive business.
Above all, specializing in a specific aspect of IT is likely to bring success more than general IT consulting services.
These types (general IT consulting) are overpopulated with competitors).
COMPUTER CONSULTING BUSINESS PLAN EXAMPLE
Here is a sample business plan for starting a computer consulting company.
If you are going through this article, then we believe that you have considered everything that is required to start a computer consulting business. You must have also thought about the need to have a business plan.
Well, this article contains a computer consulting business plan sample. This should help meet your computer consulting business plan need.
BUSINESS NAME: Zizitech Computer Consulting Company
- Executive Summary
- Our Products and Services
- Vision Statement
- Mission Statement
- Business Structure
- Market Analysis
- Financial Plan
- Competitive Advantage
Logitech Computer Consulting Firm is a computer consulting that is that will be based in Orlando, Florida. We will focus on such areas as server setup, server maintenance, network setup, network maintenance, disaster recovery, data backup, email solutions, ICT infrastructure and technical support, design of computer systems, etc.
At Zizitech Computer Consulting Firm, we have our clients at heart and have made their satisfaction our utmost concern. We are also interested in ensuring that our services are very affordable and will not drill a hole in the wallets of our clients.
Zizitech Computer Consulting Company is not a one-man business. It is a partnership between two brothers, Tony Pedro and Fabian Pedro, two former workers at Microsoft.
Products and Services
Just like every other business, our desire at Zizitech Computer consulting firm is to make gains. However, we will not do that to the detriment of our clients. While making profits, we also intend to provide services that or clients will be satisfied with.
Some of the services that we will be offering at Zizitech Computer Consulting Firm are
- Server setup
- Server Maintenance
- Network Setup
- Network Maintenance
- Disaster Recovery
- Data Backup
- Email solutions
- Network security
- Cloud computing
- ICT infrastructure and technical support
- Network Maintenance
- Sever maintenance
- Email solutions.
Our vision is to establish a computer consulting firm that will meet the needs of clients and also stand shoulder to shoulder with very established and popular computer consulting firms in the United States.
At Zizitech Computer Consulting company is to make available reliable and affordable computer consulting services to business owners.
We are aiming to become a leading computer consulting firm in the whole of Orlando, Florida, and the United States.
We know it might not come easy and will require a lot from us in terms of the workforce, facility, and management.
To achieve this, we will ensure we get the best facility available in Orlando, Florida. Also, we will make sure we hire individuals that are not just only very skillful but also have very good work ethics as well as excellent communication skills. We also intend to provide a good and conducive working environment for our staff. This we believe will keep them motivated.
It is now a trend in the computer consulting industry for firms to merge. Although this is considered merging, in the real sense of t, it is acquisition. This trend involves the acquisition of smaller computer consulting firms by the bigger computer consulting firms. This is happening because there is a belief that it is easier to run Computer consulting businesses when they are bigger.
At Zizitech computer consulting company, our target is not streamlined to just one group of people. Our target market is made of individuals from very divergent walks of life. We also are not targeting just one type of industry.
Our target market includes startups, established firms, local businesses as well as international companies. We have come up with plans that will help us work perfectly well with establishing firms, startups, highly placed, and lowly placed individuals.
Some of the sectors that we are looking to offer our services include the banking sector and the education sector
We are aware that starting a computer consulting business requires a lot in terms of capital. Well, we are not perturbed because we have been able to raise 40% of the amount that we need to start our business.
The remaining 60% which amounts to will be raised from families and through bank loans. We are looking to get 20% from family and friends and the remaining 40%from the bank.
It takes more than a high skill level and experience to make it in the computer consulting business world. The presence of great managers and networking is a major factor that is needed to make it in this business. We also know that making it big in this business goes beyond making available excellent services.
The ability to meet deadlines and targets is very crucial. The advantage we have over other firms is the diversity and strength of our workforce. We will employ some of the best and most experienced computer consultants in the country.
The business plan above is a business plan for a computer consulting business called Zizitech. It is located in Orlando Florida and is owned by two brothers.