Please complete all the fields in this form.
Applicant Details
Company Details (if set-up)
Product/Service Concept
Describe the concept here, including any unique features, advantages, price, key benefits to the customer, etc. How does your product/service uniquely satisfy a market demand?
Target Market
If you target consumers; talk about demographics (e.g. well educated young professionals), psychographics / socio-graphics (e.g. early adopters, peer group leaders, etc), characterization (e.g. sports buffs, greenies, etc). If you target businesses; classify the target business by type, size, location, etc. Also, try to identify the decision maker in the business by title, job mandate, and purchasing powers.
Competitive Position (Current / Future)
Who else is providing a similar product/service? How is your product/service different? Don’t forget that the world doesn’t sleep: When you go to bed tonight, somebody else on the other side of the world will wake up with a similar idea. How will you make sure you will stay ahead of the competition?
Marketing Strategy
Explain how your product/service will be positioned in the marketplace and discuss your strategy for pricing, sales and distribution, and customer service. Do not underestimate customer service – you should be able to offer support to all of your customers.
Sales and Cash-Flow Projection
How much sales do you project within the next 3 years? To achieve those sales, how many people do you need (and of what calibre), and how much do you need to spend on office, travel, internet, phone, promotion, etc? Also, think about ongoing development. Remember: Revenue is vanity, profit is sanity and cash-in-pocket is reality.
About You and Your Idea
Discuss the skills of your management team, core employees and strategic partners. What made you come up with this idea?
Note that success is not just about the idea. In fact, some of the biggest IT companies were founded on others’ ideas: Microsoft’s Windows, for instance, was Apple’s idea; Google wasn’t the first search engine; and many social networks existed before Facebook. What differentiated these organisations was – amongst other things – how they realized their ideas and executed their business plans. How are you going to make this project a success?
Other Investment
Have you secured any other investment? How do you plan to fund your sales plan?