SaaS Business Plan
Scope creep. The consulting client uses the approval process to demand more consulting without more payment.
A professional consulting business involves a proposal, also called an engagement letter, and acceptance. The accepted proposal becomes the agreement between consultant and client on what’s to be done, when, and for how much money.
During fulfillment, a reference to the original engagement is valuable for tracking progress, managing ongoing work, and avoiding scope creep. It’s a critical missing link for most consultants.
Solution
Overture compiles proposals incorporating building blocks of content like text, tables, milestones, component tasks, and date and deadline data. It also offers ongoing progress tracking, tickler functions, communication with clients, and billing for progress. The key differentiator is easily managed tools and a conceptual framework for ending scope creep.
Market
Prospects include single professionals, small professional firms, and individuals in large firms. Pricing makes the software accessible to different levels, starting at $19.95 a month for the individual account.
Competition
Several good proposal management offerings are available:
-PandaDoc
-RFPIO
-Proposify
-Qwilr
-Bidsketch
-Osmosis
-Loopio
-Nusii
-Quote Roller
-Proposable
-Octiv
-GetAccept
None of them addresses scope creep like Overture. Most are priced well above us, and few have the features we have.
The real competition
The real competition is using existing word processing tools combined with project management and billing.
Why Us?
We have a great team, including three proven successful startup veterans who are willing to invest their own funds. All three have strong experience and track records related to software and consulting.
We are value-driven. We believe that we’re doing something that needs doing and will help our users succeed. We aim to provide the best possible way to spend the money they spend.
Expectations
Forecast
Our priority for the foreseeable future is high growth, not profits. We want to achieve high valuations that make a good opportunity for us and our investors.
Financial Highlights by Year
Financing Needed
We plan on a capital investment of $2.5 million.
-Our three founders can fund $240K of early seed money.
-We plan to take in $750K angel investment in the Spring of 2020.
-Series A venture capital in Spring of 2021.
Opportunity
Problem & Solution
Problem Worth Solving
Scope creep. If you’re a serious business professional, you know the problem. You propose one thing, for one price. You deliver, and the client wants more … but for the same price.
A professional consulting business involves a proposal, also called an engagement letter, and acceptance. The accepted proposal becomes the agreement between consultant and client on what’s to be done, when, and for how much money. During fulfillment, a reference to the original engagement is valuable for tracking progress, managing ongoing work, and avoiding scope creep.
This is a business document that requires specific and generalized content. For example, most proposals include a section called "Background and Qualifications." That might be standard boilerplate content, but more often it’s a combination of boilerplate and tailored content. For example, a consultant might emphasize primary market research in one proposal and mathematical modeling in another.
This is an opportunity for a software application to combine standard content, customized but repeatable content, and engagement-specific content.
Our Solution
Overture compiles proposals incorporating building blocks of content like text, tables, milestones, component tasks, and the date and deadline data. It also offers ongoing progress tracking, tickler functions, and communication with clients.
Market Size & Segments
-Accounting: Firms in this subsector generated $175.4 billion in revenue in 2017. The industry was comprised of over 130,000 firms and employed 1.2 million professionals.
-Architectural services: This subsector accounted for more than $67.7 billion in revenue in 2017. The industry was comprised of 21,600+ firms and employed 170,400 professionals.
-Engineering services: This subsector posted $234 billion in revenues in 2017. The industry was comprised of 60,200+ firms and employed over one million professionals.
-Legal services: Legal services generated $292 billion in revenue during 2017. The industry was comprised of more than 185,300 firms and employed nearly 1.1 million professionals.
-Management consulting: This subsector accounted for $254.5 billion in revenue during 2017. The industry was comprised of nearly 171,100 firms and employed over 1.2 million professionals.
Initial Target Market:
-Company size: From the solo consultant to the 10-100 employee size consulting companies.
-Professional service industries with high client communication needs are a strong initial focus.
-Non-tech savvy user looking to solve a specific problem not deploy a complicated system.
Competition
Current Alternatives
Direct Competitors:
Our Advantages
Competitive differentiation: dealing with scope creep. None of these competitors really do. But we do.
Hello!
I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
My career is built on a foundation of helping individuals and businesses thrive financially in an ever-changing economic landscape. At phonenumber247.com, my aim is to demystify the complex world of finance, providing clear, actionable advice that can help you navigate your financial journey with confidence. Whether it’s personal finance management, investment strategies, or understanding the nuances of market dynamics, I’m here to share insights and tools that can propel you towards your financial goals.
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