Having a great business idea and having the willingness and ability to jump into the entrepreneurial or intrapreneurial journey are the stepping stones to a successful journey. Next, you will develop expertise on how to write a business plan for a tech startup step by step.
You may like to start a business venture on your own or start a new business initiative within the firm that you work for. Whatever the case may be; you need to start your journey by writing a tech startup business plan proposal.
Like they say, a job well begun is half done. So, knowing how to write a well thought out business plan wins half the battle for you.
You also need to follow the “Keep it Simple, Silly” doctrine and come up with a simple business plan. Following a step-by-step business plan template, in this case, helps.
Sounds interesting? Let’s start the journey.
How do you begin a tech startup business plan?
To begin a tech startup business plan, you need to ask yourself the following questions:
“What to do?” “How to do it?” “When to do it?” and ” Who will do it?”
These questions will help in starting to plan how to take your business idea to executable action. Planning will help you bridge the gap between where you are right now and where you want to reach, concerning your business idea.
What are the 5 elements of a tech startup business plan?
There is no sacrosanct format of a good business plan or a business plan pdf, and also the ingredients of a business plan proposal would depend on your experience in business and knowledge in that particular field.
However, a good startup business plan consists of the following:
1. Your background
In case you have partners, their background too
2. Description of the business idea
It should consist of Utility of the Product / Service and the Unique Selling Proposition, i.e., USP
3. Production plan
In case of a product, how would you produce the product, in case of a service, how will you deliver the service
4. Operational plan
How would you smoothly coordinate the day to day work, how would you ensure the desired quality, where would you set up your factory/office, at what price will you sell
5. Organizational plan
This contains details of how many people you will employ to produce or deliver the service, what your marketing set up will be, who will manage your accounting and liaison with the various stakeholders and authorities
6. Financial plan
Now we come to an essential part of your business plan, where you need to spend considerable time and effort. It is the Financial Plan.
Your financial plan should spell out the investment required for the business. Where would the funds come from, and when are the funds needed? How much cash is needed to carry on day to day operations?
This section would also describe the economic feasibility of the business. This would include the revenue forecast for the next year, or three years or even further.
How do you write a one-page business plan for a tech startup?
You need an elaborate plan to be successful in your business. However, at the same time, you also need to keep in mind that the business plan is needed for the potential investor to consider investing in your business.
Given the lack of time the potential investor has, you need to make a one-page business plan which has a concise description of your plans but gives details on why she/he should invest in your business. It should motivate the potential investor to spend time and read a more elaborate business plan.
The one-page business plan is also your means of communication with the external stakeholders like the government, the public at large when you need to do any statutory filing of information of the company or present in various conferences.
You may also like to term this one-page plan as a written “elevator pitch.”
Having a great business idea and having the willingness and ability to jump into the entrepreneurial or intrapreneurial journey are the stepping stones to a successful journey. Next, you will develop expertise on how to write a business plan for a tech startup step by step.
You may like to start a business venture on your own or start a new business initiative within the firm that you work for. Whatever the case may be; you need to start your journey by writing a tech startup business plan proposal.
Like they say, a job well begun is half done. So, knowing how to write a well thought out business plan wins half the battle for you.
You also need to follow the “Keep it Simple, Silly” doctrine and come up with a simple business plan. Following a step-by-step business plan template, in this case, helps.
What does a tech startup business plan consist of?
A startup business plan consists of an internal roadmap elaborating on the most important aspects of your business (i.e., the background, the production, operational, organizational, and financial aspects).
At the same time, it consists of the purpose, and the financial returns your business will generate, which acts as a written marketing document for external stakeholders.
However, given the uncertainties in modern times, business plans are increasingly focusing on the risks, and the fall back plans that would be in place if the original plan fails.
A significant point that gives confidence to the investor about the long term viability of the business plan is the interest that the target market will show in the product or service. So, it is worthwhile to add as a Business plan annexure pdf, any primary research done by a reputed marketing agency of the market potential of the product or service.
When the business plan involves a new product or service, it is effortless to fall into the trap of looking at the product from your point of view and taking the market for granted. What is required at this stage is to focus exclusively on how you conceptualized the idea and how you are planning to bring the concept to execution.
Researchers from MIT suggested successful business plan examples where users were invited to pre-test the products or services. Their feedback is of interest to the investor and needs to be included in your startup business plan.
8 Steps to Create a Business Plan for Your Tech Startup
Step 1: Executive Summary
The first step in writing a startup business plan for your new tech business is to create an executive summary.
The executive summary doesn’t need to be lengthy and tedious; around two to three pages should suffice.
Although a short document, the executive summary one of the most important elements of your business plan.
Your executive summary should be concise and clear as it should be successful in communicating everything about your business.
Some investors might only ask for your executive summary — so be sure to craft it well and pepper it with all the right bits of information. you’ll want to ensure it can stand on its own.
Stick to the following:
1. Mission Statement: In one crisp paragraph, explain the mission of your business and what you want to accomplish.
2. General Company Information: Next, include general information like when your business was formed, the name of the other founders, their roles, the number of employees, office locations, and so on.
3. Visual Highlights: Include graphs and charts pertaining to any key milestones of the business or any growth you’ve seen since starting the business.
4. Products and Services: Without getting overly passionate or verbose, briefly describe your product, the technology that powers it, and your target customer base.
5. Financial Information: If you’re looking for startup fundraising, include your funding goals. You can also include any information on previous loans or about banks or lenders you’ve worked with before.
6. Future plans: Don’t forget to include where you plan on taking your business in the future.
Pro tip: Write your executive summary after you’ve completed creating your business plan.
This way you’ll have all your facts in place and all your information and details sorted so you will be better equipped to summarize them.
Step 2: Company Overview
Many entrepreneurs confuse the company overview with the executive summary. However, there is a stark difference between the two.
The company overview is a more detailed top-level view of the structure of your tech business and what you do.
Here’s how you can go about drafting your startup overview:
1. Begin your company overview section by describing what your business specializes in and the technology behind it. This part of the company overview is intended to give readers and investors a general idea of your business.
2. Next, proceed to explain the nature of the industry and marketplace.
3. Lay out the legal structure of your business and provide the ownership structure.
Step 3: Market Analysis
The next step along the process of creating your startup business plan is to perform in-depth research and analysis of your niche, target market, and primary competitors.
This is the first part of your startup business plan where you dive into the details.
Your market analysis will give readers and investors enough proof about the level of understanding you have about the dynamics of your industry.
Your market analysis should include the following sections:
1. Industry Description: Start by including a detailed view of your industry. How big is it? How much has it grown in the past few years? What are its growth predictions from industry experts? Who are your competitors? How have they performed? And so on.
2. Target Market Details: Dive into the details of your target market. And include your target market’s characteristics and target market size and growth.
3. Your Market Share Potential: Chart out what your market share could look like along with how much market share you expect to gain.
4. Market Pricing: Include an estimated cost of your products and how you will distribute them.
5. Challenges: Don’t shy away from including any challenges that you may across. This could be legal issues to shifting technologies to capital issues to lack of talented or skilled human resources.
6. Competitor Research: Study your competitors by analyzing their strengths, market share, weaknesses, challenges they pose to you, and so on.
Step 4: Business Organization
This next section of your startup business plan provides insights and information on your tech business’s management structure clearly defining and explaining what everyone does.
You will also have to go a step further to include everyone’s business background and past experiences.
Here’s what you need to break down:
1. Organizational Structure: Start this section by creating an organizational chart that depicts how your business is structured.
2. Ownership Structure: Although you’ll repeat this information in your company overview, you have the liberty to go in-depth allowing you to talk about the ownership structure of your company, who owns how much, and so on.
3. Background of Owners: Categorically explain the background of your team. This includes information on directors, senior management members, and managers.
4. Talent Requirement: Clearly make a list of all hiring needs.
Step 5: Products and Services
This section of your startup business plan is all about laying out the details and plans for positioning your product, the utility it provides, the technology behind it, and so on.
For instance, if you are offering Internet of Things (IoT) based solutions or Artificial Intelligence-powered services, then give details about how these products work and how you wish to promote and sell it.
Here’s exactly what this section should include:
1. General Description: Highlight the USP of your product or service and the value it provides to potential customers.
2. Status of products: Paint an honest picture of the status of your product. Is your product in the idea stage? Is it already selling? Or is it ready to go to market?
3. Product goals: If you are still in the ideation phase, map out a journey that talks about how you plan to launch the product and bring it to life. Include details on the research and development activities required. You can also include new versions or new products or any new features you wish to include in the future.
4. Intellectual property: As a tech business, it is imperative to have proprietary intellectual property. Make mention of this and any other patent or trademark that you own or are in the process of owning.
5. Sourcing and fulfillment: If you are dependent on third-party vendors to fulfill or your product or service creation, mention it here.
This section is crucial for your startup business plan as it defines everything about your products and services.
It will work as a bible for product managers and for you in the development stages and go to market phase.
Step 6: Marketing and Sales Plan
Once you’ve explained everything about your product, it’s time to delve into explaining how you are going to go about marketing and selling your product or service.
When it comes to marketing, this is what this section should look like:
1. Positioning: This first part of your marketing plan should talk about how you’re positioning your business and products. What price bracket are you targeting? Are you offering any free service? What guarantees and warranties are you offering? Answering these questions and more will help you determine where you are positioning your products and services.
2. Promotion: This part involves explaining marketing channels and plans you have for advertising your product, PR strategies, SEO plans, content marketing practices, social media marketing, etc.
Next, your sales plan:
1. Salesforce: How do you plan to sell your product? Do you need a sales force? How big a team do you need? Who will train your sales team? These parameters need to be addressed in your sales plan.
2. Selling strategy: Give an overview of how you will sell your product or service. Define the process you will follow as a technology business. Will you start with cold-calling potential customers? Or attending events? Or appointing channel partners? Clearly describe what your sales funnel should look like.
Step 7: Financial Plan and Projections
This is a supremely important section of your business plan.
Investors and VCs will want to look at your financial plans and projections before parting with their money.
Ideally, this section uses financial data from past performances or forecasts.
Include the following as part of your financial plan:
1. Income statements
2. Cash flow statements
3. Balance sheets
Additionally, if applicable, include the accounts of receivable statements, accounts of payable statements, and details or documents of debts.
Ideally, your financial projections should be supported either by past performances or future projections and estimations.
Include statements of projected income, cash flow forecasts, forecasted balance statements, capital expenditure budgets, and miscellaneous expenses.
Your startup business plan should include projections for the first year of business but should include a vision for the coming 3 to 5 years.
Step 8: Appendix
The appendix should be included towards the end of your business plan. This section includes all additional information that you didn’t include in the sections above of your business plan.
Any data, statistics, strategic points, charts, footnotes, or further explanations that you think are necessary to be included as part of your startup business plan but has been skipped should be included here.
As an entrepreneur or founder, you can also consider including your own resume and resumes of other founders or senior management team members.
Ideally, the appendix should begin with a table of contents that categorically breaks down your business plan into relevant, followed by the additional information that corresponds to each section.
199 Resources for Startup Business Plan Templates, Business Plan Examples, and Business Plan Samples
| Website Name | Category | |
| 1 | bussinessplanpro.com | Business Plan Examples |
| 2 | mynewoffice.com | Business Plan Examples |
| 3 | kaufmanschedule.com | Business Plan Examples |
| 4 | businessplanexamples.net | Business Plan Examples |
| 5 | business-plan-examples.com | Business Plan Examples |
| 6 | ovucscanexel.tk | Business Plan Examples |
| 7 | wheretogetanessay.club | Business Plan Examples |
| 8 | allusionexamples.com | Business Plan Examples |
| 9 | financemart.net | Business Plan Examples |
| 10 | hoodcleaningschool.com | Business Plan Sample |
| 11 | aspencapgroup.net | Business Plan Sample |
| 12 | iiiventures.com | Business Plan Sample |
| 13 | vztap.com | Business Plan Sample |
| 14 | capitalsystemwebgroup.com | Business Plan Sample |
| 15 | ridgecrestinvestments.com | Business Plan Sample |
| 16 | restaurantbplans.com | Business Plan Sample |
| 17 | lifemasterpreneur.com | Business Plan Sample |
| 18 | agplan.umn.edu | Business Plan Sample |
| 19 | baincapitalscrewsthepoor.com | Business Plan Sample |
| 20 | bochferns.com | Business Plan Sample |
| 21 | dayohub.com | Business Plan Sample |
| 22 | paneracares.ca | Business Plan Sample |
| 23 | practicalbusinessideas.com | Business Plan Sample |
| 24 | acceletv.com | Business Plan Sample |
| 25 | jwindustrialpartners.com | Business Plan Sample |
| 26 | joplinregionalbizcenter.com | Business Plan Sample |
| 27 | crainsclevelandevents.com | Business Plan Sample |
| 28 | beallinc.org | Business Plan Sample |
| 29 | signalhillcapital.info | Business Plan Sample |
| 30 | moneilpatel.com | Business Plan Sample |
| 31 | internationalschoolofsiliconvalley.com | Business Plan Sample |
| 32 | ctinnovations.us | Business Plan Sample |
| 33 | morebusiness.com | Business Plan Sample |
| 34 | thestartupjitters.com | Business Plan Sample |
| 35 | pragatimaidaan.com | Business Plan Sample |
| 36 | startgreennow.com | Business Plan Sample |
| 37 | elevatelake.com | Business Plan Sample |
| 38 | bainhypocrisy.com | Business Plan Sample |
| 39 | bestpracticesfoundation.com | Business Plan Sample |
| 40 | appraisalbestpractices.org | Business Plan Sample |
| 41 | allianceventures.info | Business Plan Sample |
| 42 | lumenityventures.com | Business Plan Sample |
| 43 | businessplanpro.com | Business Plan Sample |
| 44 | truventureholdings.org | Business Plan Sample |
| 45 | baincapitalblows.com | Business Plan Sample |
| 46 | meritechnic.com | Business Plan Sample |
| 47 | mch-zuerich.com | Business Plan Sample |
| 48 | csokolozas.info | Business Plan Sample |
| 49 | glassbuildamerica.us | Business Plan Sample |
| 50 | nextviews.com | Business Plan Sample |
| 51 | theedusystems.info | Business Plan Sample |
| 52 | reddottemasek.co.uk | Business Plan Sample |
| 53 | voicemetrics.net | Business Plan Sample |
| 54 | baincapitalscrewspeople.net | Business Plan Sample |
| 55 | eduproperessays.info | Business Plan Sample |
| 56 | tisemadigital.com | Business Plan Sample |
| 57 | bplanexperts.com | Business Plan Sample |
| 58 | namgioi.info | Business Plan Sample |
| 59 | myemploymentexpresspro.com | Business Plan Sample |
| 60 | rainbow9.org | Business Plan Template |
| 61 | fastbusinessplans.com | Business Plan Template |
| 62 | howtowritebusinessplan.com | Business Plan Template |
| 63 | pattyenright.com | Business Plan Template |
| 64 | planmagic.com | Business Plan Template |
| 65 | meetpartnertoprofit.com | Business Plan Template |
| 66 | riffstation.co | Business Plan Template |
| 67 | navigatesmallbusiness.ca | Business Plan Template |
| 68 | businessplantemplate.com | Business Plan Template |
| 69 | kcfi.ca | Business Plan Template |
| 70 | start-my-own-business-now.com | Business Plan Template |
| 71 | isolveconsulting.ca | Business Plan Template |
| 72 | inbizz.ca | Business Plan Template |
| 73 | marketingandbusinessplanning.com | Business Plan Template |
| 74 | wabusinessassist.com | Business Plan Template |
| 75 | blukfoundation.com | Business Plan Template |
| 76 | minorityownedbusiness.com | Business Plan Template |
| 77 | businessplancompanies.com | Business Plan Template |
| 78 | d1college.com | Business Plan Template |
| 79 | spathium.com | Business Plan Template |
| 80 | transformyourlawfirm.com | Business Plan Template |
| 81 | aft-fx.jp | Business Plan Template |
| 82 | business-plan-example.com | Business Plan Template |
| 83 | 519businessplans.ca | Business Plan Template |
| 84 | wazup.me | Business Plan Template |
| 85 | pvgtranslation.com | Business Plan Template |
| 86 | shannonmenard.com | Business Plan Template |
| 87 | fdcdubai.website | Business Plan Template |
| 88 | inspiredlifeproject.com | Business Plan Template |
| 89 | creationchurch.co | Business Plan Template |
| 90 | b2bvault.com | Business Plan Template |
| 91 | businessexponow.co.uk | Business Plan Template |
| 92 | profitmakingventures.org | Business Plan Template |
| 93 | officetemplatesonline.com | Business Plan Template |
| 94 | charlotteopenforbusiness.org | Business Plan Template |
| 95 | hempcbdbusinessplans.com | Business Plan Template |
| 96 | fitnessbusinessschool.com | Business Plan Template |
| 97 | parissbdc.com | Business Plan Template |
| 98 | carmaconnect.in | Business Plan Template |
| 99 | newbusinessplantemplates.com | Business Plan Template |
| 100 | legal-timber.info | Business Plan Template |
| 101 | chrisessentials.com | Business Plan Template |
| 102 | tecfx.co | Business Plan Template |
| 103 | scaleyourserviceonline.com | Business Plan Template |
| 104 | pozycjoner.org | Business Plan Template |
| 105 | business.laws.com | Business Plan Template |
| 106 | imari.com.au | Business Plan Template |
| 107 | jabcob.com | Business Plan Template |
| 108 | smef.gov.bd | Business Plan Template |
| 109 | londonbizreport.com | Business Plan Template |
| 110 | felices-prado.com | Business Plan Template |
| 111 | tatforum.org | Business Plan Template |
| 112 | koopalia.com | Business Plan Template |
| 113 | startminer.co | Business Plan Template |
| 114 | abusinessplantemplate.com | Business Plan Template |
| 115 | cakintl.com | Business Plan Template |
| 116 | jackijacobs.shop | Business Plan Template |
| 117 | blackboxbusinessplans.com | Business Plan Template |
| 118 | bizplandb.com | Business Plan Template |
| 119 | whitelighteducation.com | Business Plan Template |
| 120 | businessplandownload.net | Business Plan Template |
| 121 | bolatogel.net | Business Plan Template |
| 122 | bizplans4u.com | Business Plan Template |
| 123 | 7makemoneyonline.com | Business Plan Template |
| 124 | jaysetconsulting.com | Business Plan Template |
| 125 | sbrss.com | Business Plan Template |
| 126 | secob.co.za | Business Plan Template |
| 127 | paydayloanslts.com | Business Plan Template |
| 128 | startuplab.co.nz | Business Plan Template |
| 129 | russaliana.me | Business Plan Template |
| 130 | specimenplanner.co.uk | Business Plan Template |
| 131 | endtoendhrsolutions.com | Business Plan Template |
| 132 | yourplanplace.com | Business Plan Template |
| 133 | capturethefracture.org | Business Plan Template |
| 134 | stansmithpascher.club | Business Plan Template |
| 135 | savvystartupclub.com | Business Plan Template |
| 136 | aspiher.com | Business Plan Template |
| 137 | baodaipad.biz | Business Plan Template |
| 138 | coffeeshopstartups.com | Business Plan Template |
| 139 | bpplans.com | Business Plan Template |
| 140 | alphaunit.com | Business Plan Template |
| 141 | a-formula.com | Business Plan Template |
| 142 | thepolicylibrarymembership.co.uk | Business Plan Template |
| 143 | tvlentrepreneur.com | Business Plan Template |
| 144 | greenskiing.co | Business Plan Template |
| 145 | kpfunds.net | Business Plan Template |
| 146 | virginstartup.org | Business Plan Template |
| 147 | lavenderllewellyn.com | Business Plan Template |
| 148 | grandbusinessplan.com | Business Plan Template |
| 149 | bayanescorts.net | Business Plan Template |
| 150 | free-directory-online.com | Business Plan Template |
| 151 | lanarkshire-business.co.uk | Business Plan Template |
| 152 | marketingandbusinessplanning.co.uk | Business Plan Template |
| 153 | hrjkkj.icu | Business Plan Template |
| 154 | 150startups.com | Business Plan Template |
| 155 | arthurmandell.com | Business Plan Template |
| 156 | filmproposals.com | Business Plan Template |
| 157 | bplanshop.com | Business Plan Template |
| 158 | realmoneyinvestors.com | Business Plan Template |
| 159 | moneylendingpros.com | Business Plan Template |
| 160 | atozerp.com | Business Plan Template |
| 161 | getcharismatic.com | Business Plan Template |
| 162 | sampleplan.com | Business Plan Template |
| 163 | startupcrest.com | Business Plan Template |
| 164 | goairban.com | Business Plan Template |
| 165 | cacatalano.com | Business Plan Template |
| 166 | paydayloansnow24h.com | Business Plan Template |
| 167 | thelaundrybiz.com | Business Plan Template |
| 168 | klarititemplateshop.com | Business Plan Template |
| 169 | theglobal.co.za | Business Plan Template |
| 170 | businessplanjournal.com | Business Plan Template |
| 171 | jocuri888.com | Business Plan Template |
| 172 | thefinanceresource.com | Business Plan Template |
| 173 | leanaplummer.com | Business Plan Template |
| 174 | pittsburghbusiness.biz | Business Plan Template |
| 175 | wheretowriteapaper.live | Business Plan Template |
| 176 | stayli.com | Business Plan Template |
| 177 | startupprofessionals.com | Business Plan Template |
| 178 | mawazoafrica.org | Business Plan Template |
| 179 | gremmy-gr.host | Business Plan Template |
| 180 | 2eu.org | Business Plan Template |
| 181 | businessplanscentral.com | Business Plan Template |
| 182 | businessplantemplate.net | Business Plan Template |
| 183 | essayflooor.site | Business Plan Template |
| 184 | business-plan.co.za | Business Plan Template |
| 185 | dispensarypermits.com | Business Plan Template |
| 186 | contractorhub.com | Business Plan Template |
| 187 | dorchesterbayloans.org | Business Plan Template |
| 188 | businesschecklist.org | Business Plan Template |
| 189 | officialbuddoctor.com | Business Plan Template |
| 190 | bargerveen.info | Business Plan Template |
| 191 | bizdevczar.com | Business Plan Template |
| 192 | cbdbizplan.com | Business Plan Template |
| 193 | freelancetofounder.space | Business Plan Template |
| 194 | helm-group.com | Business Plan Template |
| 195 | perfectlittlebusinessplan.com | Business Plan Template |
| 196 | bestfunnywifinames.club | Business Plan Template |
| 197 | bpiplans.com | Business Plan Template |
| 198 | planmagic.org | Business Plan Template |
| 199 | plusacademics.org | Business Plan Template |
Final Thoughts
Although creating a startup business plan seems daunting and arduous, when you break it down into a step by step process, it gets easy to create one.
And with these 8 steps, you can create a killer tech business plan for your tech startup that will help you catapult to success and leave investors mesmerized.
