A few things to consider adding to the first part.? As the name implies, this section provides a bit of backstory for your company. To Start Include historical de
A few things to consider adding to the first part.
As the name implies, this section provides a bit of backstory for your company.
To Start
Include historical details such as when, where, and how your company was (or will be) formed. Now would also be a good time to mention your current status as a legal entity, and whether you have plans to change that status. This is not a place in your business plan where you should be shy; be sure to mention accomplishments and accolades.
What to Include
Be sure to include personal accomplishments, even if they aren’t particularly pertinent to the pitch at hand. Many investors rightly view past accomplishments as an indicator of potential success down the line. People also respond to passion, so this is a good time to showcase your knowledge and mastery of your chosen field. The challenge here? Keep it concise and on track.
What business will you be in? What will you do?
Mission Statement: Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being and their guiding principles. If you want to draft a mission statement, this is a good place to put it in the plan, followed by:
Business Philosophy: What is important to you in business?
To whom will you market your products? (State it briefly here—you will do a more thorough explanation in the Marketing Plan section).
Goals – great work making the goals specific, measured, and timely.
Business Plan
Business Plan
Francisco Leon
Grantham University
BUS499 Business Policy and Strategy
Instructor: Elhan Durguti
Due Date:04/18/2023
Company Background
a) Company Name: NextGen
b) Type of business: Technology, software, and consulting services
c) Proposed ownership/legal structure: Limited liability company
d) Unique product or service you will offer: Artificial intelligence (AI) enabled solutions, including predictive analytics and workflow automation, tailored to customers' needs and industry.
NextGen is an innovative AI solution and consulting services provider in technology, software, and consulting. We aim to assist organizations of all sizes enhance customer service and streamline their processes through AI to get the greatest possible return on investment (Rittenberg, 2022). We offer specialized AI services that may be adapted to meet the requirements of any market. Our entire portfolio of offerings is designed to help businesses analyze customer data, streamline operations, and maximize profits.
Experts in software development, data science, and AI engineering make up our team, and they are all committed to providing you with excellent service. We place a premium on delivering cutting-edge solutions and services alongside first-rate client support. We work hard to ensure that every one of our clients receives the highest quality service possible, whether they use our AI-based predictive analytics, automated workflows, or individualized AI solutions (Davtyan, 2022).
We have prioritized cultivating an environment that encourages experimentation, growth, and the discovery of new ways to improve our services and the success of our clients. Our mission is to become the industry standard for cutting-edge solutions prioritizing safety and minimizing risk. We recognize the importance of creating and practicing thorough disaster recovery plans to reduce vulnerability (Rittenberg, 2022). We aim to increase our annual income and earnings by broadening our reach, improving our exposure, and capitalizing on emerging trends. Increase our income diversification by introducing additional products and services.
Mission Statement
NextGen's mission is to assist companies of all sizes in maximizing their potential by implementing AI technology that enhances the customer experience and streamlines business processes. Our consulting services and solutions will be at the bleeding edge of innovation and designed specifically for the needs of our customers.
Goals and Objectives
|
Goal |
Strategy |
|
Maximize Profits |
a) Make a threefold increase in yearly profits. b) Introducing new products and services can help broaden your company's income potential. |
|
Boost Productivity |
a) Automate customer-facing procedures using cutting-edge software and hardware (Reddy, 2022). b) Save 20% on operating expenses in the first year. |
|
Maximize Satisfaction of Customers |
a) Raise the percentage of satisfied customers by 10%. b) Gain valuable information about your customers through data analysis. |
|
Increase Satisfaction Among Workers |
a) Raise the percentage of happy workers by 10%. b) Pay high wages and provide generous benefits. |
|
Encouraging Creativity and New Ideas |
a) Make room for unconventional thinking. b) Spend money on creating new products and services. |
|
Make the Most of Events |
a) Seek strategic collaboration and partnership opportunities to increase exposure and impact (Reddy, 2022). b) Always be adaptable, and make the most of new opportunities. |
|
Enhance Profitability |
a) In the first year, boost earnings by 25%. b) Gain a 10% share of the market in three years. |
|
Minimize Risk |
a) Keep an eye on the business climate and any new rules that may be implemented. b) Make thorough preparations to recover from any tragedy. |
Table 1: NextgGen Solutions Strategic Goals and Objectives
References
· Davtyan, L. (2022, October 14). Council post: Tips to consider when developing a business plan. Forbes. Retrieved April 13, 2023, from https://www.forbes.com/sites/forbesbusinesscouncil/2022/10/13/tips-to-consider-when-developing-a-business-plan/
· Reddy, N. (2022, October 12). Council post: Want a successful business? Build an effective strategy. Forbes. Retrieved April 13, 2023, from https://www.forbes.com/sites/forbescoachescouncil/2018/02/12/want-a-successful-business-build-an-effective-strategy/
· Rittenberg, J. (2022, September 6). How to write a business plan (2023 guide). Forbes. Retrieved April 13, 2023, from https://www.forbes.com/advisor/business/how-to-write-a-business-plan/
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