Developing an IP telephony business plan is a great way to deploy technology towards solving everyday communication problems. However, versed you are in this area of business; one tool you cannot do without is a VOIP company business plan.
This is needed to help organize the business idea and see to its smooth implementation.
Your plan helps you stay on strategy by clarifying your business objectives. It also enables you to make educated guesses in addition to better understanding interdependencies.
After reading this article, you should have a better idea of what VOIP business plans should look like.
VOIP COMPANY BUSINESS PLAN SAMPLE
Your VoIP company business plan will have to be well written. This depends on the inclusion of certain segments considered invaluable to its logical conclusion.
The following sections cover key areas of the plan that need to be fully discussed.
The executive summary, company description, and the products & services sections should be necessary inclusions of your plan.
Others are the market analysis, strategy & implementation, organization & management team, and the financial plan & projections sections.
i. Executive Summary
This is rightfully placed at the beginning because it appears in that order in a plan. However, it’s best written last and should be short, and concise.
Most importantly, the executive summary section of your VoIP business plan must be well written. One way to ensure this properly written is by the inclusion of the following;
Your business name & location, as well as products & services, should be added. Others are the mission & vision statements as well as the purpose of the plan.
Let’s help you get a better idea of what these executive summary components mean.
Business Name & Location
What name will your VoIP Company be called or known by? Also, where will the operational base be situated?
These are key considerations to make when writing the executive summary section. You want to introduce your business as effectively as you can to your audience.
This is where it all begins. Any other information you include in your business plan will depend on an understanding of the business’ identity and operational base.
Products & Services
Products and services are the basis of operation for any business or company. The same applies to your VoIP Company. As such, you’ll need to carefully list or provide the range of services you’ll be offering.
You mustn’t stray into details as there’s a broader section of the plan that’s dedicated to that.
Mission & Vision Statements
This subsection takes a look at the mission and vision statements. In the case of the mission statement, it simply identifies and clarifies set goals to be accomplished.
The mission statement is basically about how to achieve the vision of a business.
Your vision statement on the other hand needs to have a clearly defined future path. In other words, it should outline the ultimate desirable achievement the company aims at.
This is the anchor point of any plan. It basically gives purpose to the existence of your company.
Purpose of the Plan
No plan makes sense without a purpose.
As such, ensure you include information on its purpose. Two main areas are mostly targeted; the setting of implementable and strategic action as well as to secure investments.
ii. Company Description
Under the company description section, you should explain what your VoIP Company is about, how it will operate, and your goals as a business.
Here, you’ll be providing information on the legal structure of the business, its history, nature of the operation as well as the needs or problems it meets or solves.
A summary of company growth is necessary with details such as the financial and market highlights. The inclusion of your short and long-term goals is also important.
iii. Products & Services
A VoIP Company creates a wide range of products as well as services.
Include information about what specific products you wish to offer. Of course, you’ll need to point out how such products and services benefit your clients.
Adding market role information about your products and services as well as advantages does a lot of good to understanding the value your business brings and its potential for profitability.
Are there any relevant patent, copyrights or trade secrete data you wish to add? This is where to do it.
iv. Market Analysis
A detailed analysis of your particular IT niche is necessary to demonstrate your understanding of industry dynamics or goings-on. Your market analysis section should include a target customer segment sketch.
This should contain the size and group demographics.
Give a description of the industry as well as its outlook. You may also need to include key statistics that further buttress your point.
In helping your readers make the necessary connections, have historical, current, and projected marketing data for your products and services.
The market analysis section won’t be complete without providing a thorough assessment of your competitors.
This includes key information such as their strengths and weaknesses and how your operations measure against theirs.
v. Strategy & Implementation
When it comes to marketing and sales of your VoIP services, you’ll need to have an operating plan.
As such, this section should cover details such as cost promotions, and pricing. Also, explain how you’ll penetrate the market and sell your business to clients.
vi. Organization & Management Team
The people behind the business are crucial to progress made.
Here, we’re talking about key employees as well as the owners. So, your organizational structure should be represented by a chart that bears departmental descriptions.
Names of owners should be included, their percentage ownership, biography, and their extent of involvement in running the business. The profile of management team members is also important.
Here, names, positions, responsibilities, and past experiences are added.
vii. Financial Plan & Projections
At this point, it will be nice if you had some expert help.
A professional accountant helps you put up a comprehensive financial plan. The plan is hinged on historical financial data, realistic prospective financial information, and an analysis of your financial data.
Now you have a sound guide to follow when writing your VoIP Company business plan. This guide has been stripped of all non-essentials to offer you the most logical approach to your business plan.