Whether you are starting a new business or entering a new market, you must have
a robust business plan which considers a wide range of complex factors. Not least
of these are competition, market dynamics, and the economic assumptions underpinning
a strategy. Statistics say that more than 50% businesses fail in first four years.
Without a detailed understanding of the market and competition, any launch is bound
to struggle. We produce the best results for clients by providing them deep understanding
of market with clear understanding of their differentiation and strategy for succeeding
in the market. We combine our advanced technical resources with commercial awareness
based on our in-depth experience of specific industry. Our specialists, whilst offering
leading-edge market research skills, also understand the commercial imperatives
that drive business success. This unique combination of capabilities helps us analyze
business impact of new technologies and innovations.
A business plan has following key elements:
- Executive Summary
- Company Description
- Service or Product Line
- Market Analysis
- Competitive Analysis
- Target Markets and Customers
- Organization & Management
- Marketing & Sales
- Funding Request
- Financial Projections
- Appendix
How Lucintel can help
A strong business plan requires going beyond gut feeling. It requires supporting
your idea with fact-based market research. Investors need to have confidence in
your understanding of the market and thus un-biased, third party market research
can help meet this core need. All business plans require careful attention to the
following:
- Market Analysis: To make this section robust, we help you identify
industry size, growth rates, drivers, challenges, major players, and market forecasts.
Keeping up with emerging trends is also important for this section of your business
plan.
- Competitive Analysis: Understanding your competition is critical
to your success. This section of business plan includes an analysis of your key
competitors, their products / services, their differentiators, and market shares.
We can help you with competitive intelligence including emerging threats from developing
nations and assist you in identifying your differentiation.
- Target Market and Customers: Identifying and prioritizing specific
target markets are another key part of your business plan where research is crucial.
You need to think about demographics and buying behaviors of your customers? How
can you best reach them? What kinds of challenges do they have? How do they like
to be marketed?
- Financial Forecast: All businesses, whether startup or growing,
will be required to supply prospective financial data. Most of the time, creditors
will want to see what you expect your company to be able to do within the next five
years. Lucintel uses top-down and bottom-up approach to build a robust revenue forecast.
We consider broad economic factors to build a model of market demand and revenue
forecast. We also look into potential customers' preferences.
Our Differentiators
Lucintel is able to not only accurately identify the market and competitive dynamics,
but is able to do so in the most cost effective fashion due to:
- Deep Expertise: With over 15 years of experience, Lucintel has
the skills, knowledge and expert staff to accurately identify and verify the correct
information regarding market size, growth and future drivers and challenges. Importantly
we are experienced and ideally positioned to drive the right conclusions and strategies
for successful returns.
- Extensive Database: Lucintel has access to data and insights on
over 2,000 industries, which can be leveraged to make a robust business plan for
you. Lucintel has published over 400 market reports in last 15 years.
- Experienced Primary Contacts: Over the years, Lucintel has developed
over 30,000 contacts across the value chain representing end consumers, OEM’s, part
fabricators, Compounders and Raw Material Suppliers. Leverage Lucintel network to
drive key insights for your market.
- We conduct approximately 3,000 primary interviews each year across various nodes
of value chains in over 30 countries.
- Lucintel researchers are routinely sought after to advise and comment on new applications,
technologies, and innovations. Lucintel analysts have spoken at over 50 conferences
worldwide, and were cited more than 100 times in business media since 2000.
What Does This Cost?
As you would expect, the fee is determined by the scope of the project. We do not
charge by the hour. Instead, you get our services for a fixed fee. This way, you
know before we begin exactly what it will cost to make a best business plan, and
there will be no surprises. Moreover, we don’t stop the work until you are satisfied.
Business plan is typically completed in about 3 - 4 weeks from the date of order.
We provide you 2-3 updates during the process to make sure we are aligned with your
needs.
Besides business plan, we have a team of specialists to advise clients who require
an even greater degree of strategic insight and guidance, or who require specialized
subject matter expertise.