Software Development Business Plan

Your software development business plan will likely be focused to angel investors, which means that it will be no piece of cake.  The good news is that there ARE investors there, waiting for the next great idea to grab them.

The Good News For Your Software Development Business Plan

First, you've chosen the right field for investment.  Software development seems to hold on, no matter what the economy does.  And that is a HUGE plus in your favor.  It is software development alone that is pulling Silicon Valley, and hence the whole of California, out of the massive muddle it is in.

Second, you know who you should not target.  Banks are just not your cup of tea.  Banks rarely understand the implications of a website, let alone software development.  Unless you've got a solid track record of success and have an existing business, albeit a small one, just pass banks on by.

Third, you've really got a lot of options remaining.  Let's take a look at a couple of those.

Venture lending for startup financing is probably the best gig around.  With the backing of a strong financial entity, one with business savvy, your path to real success can be a whole lot easier.

And don't forget angel investors, both in groups and individually.  Depending on how much you are looking for, you may need one or two or more angel investors to get you started.  Forming a group of angel investors may be easier than you expect, especially since you will working in a field that many of them already know well.

The Technology Business Plan.  Complete with workbook, spreadsheets for financials and template for business plan.

Corporate investment is also a very real option for your business.  Find an existing corporation that needs your software, or one with a complimentary software, or even a corporation that just knows your target industry well.  Many of these companies have venture capital arms, and even if they don't have formal venture capital funds they may still be very interested in investing in your business.

All of the other alternative financing options are yours as well.  Don't limit yourself to traditional funding sources.  Reach as far as need be to find your match.

Reaching Your Investors With A Software Development Business Plan

More than with most business plans, yours needs to capture the dream.  Many software development companies don't have an existing marketing model they can follow, so capturing your dream is a vital component of your business plan presentation.

Before contacting your investor, your software development business plan will need

• A formal written business plan;
• A formal oral presentation in 10 minute, 20 minute and 60 minute formats;
• A great "elevator pitch";
• A disk with any additional information, like patents you have applied for or extensive marketing background;
• A website that demonstrates your professionalism, perhaps introduces other key players;

... and the readiness to present at any given moment.

You are on your way.  Bon voyage!  Check out the articles below that might help you get your written material in line.