Business Proposal
- Outline your marketing plan, with a summary of the 4 P’s
For our business to run effectively, a marketing plan is vital since it provides strategies and directions as well as define the resources the firm will invest to achieve its goals. After the analysis of market trends, we realized that the most significant factor in acquiring new clients for our firm is a direct result of referrals from the existing clients. Client retention is also essential since it determines the success of failure of a business. Many people sharing similar financial positions prefer asking other people they know and trust in a firm to use. Our marketing mix will optimize the quality and volume of these referrals.
Our firm will seek to provide premium services at a premium price that offers the best value to our clients. Since our work will particularly utilize our computerized capabilities, we will work to bill more of our services on a fixed-fee basis. As part of the promotion, our integral part of fishing clients will emerge from leverage referrals from individual clients and professional contacts. Besides, we will enhance our profile within our area of specialization and targeted clients by increasing our reputation in possessing unique expertise. Otherwise, we will continue to use the technology we have including our website and in-house computer capabilities to reach out to potential clients.
- How will you design your operations? Are special facilities required?
As part of our company’s operation, we studied the market trends and decided to use smart technologies for a start to enhance the existing traditional ways of working. In our case, the smart software systems such as cloud printing will support the trend towards greater use of social media and outsourcing services to improve engagement, disclosure, and collaboration with our clients and the broader communities. Besides the application controls comprising of the master files, output, input, and processing controls, the decision to install Computer-assisted audit techniques (CAATs) is important because the tool will be used to test and conclude the integrity of our clients’ computer-based account system to avoid hoaxes, especially online fraud.
- Describe your staffing plan. How many people with what skill sets will you need at what time?
Although at the moment we limit the staff to two members, our long-term plan is to ensure that as the company grows we will ensure that it is fully staffed to avoid downtime. Our proactive approach towards the firm’s staffing needs will involve strategic staffing whereby it will combine succession, short-term, and long-term staff planning. However, to meet our specific needs, hiring and recruitment will base on talent perspective besides academic qualifications. Moving forward, the staff’s skills will be frequently assessed to determine if the existing team is qualified with necessary experience and skills. Besides, to rectify gaps in an individual’s skills will attract training.
- Will the marketing plan, operations plan, and HR plan fit within the budget you submitted in Part 1? If not, please include a revised cost outline
When designing the estimated cost outline for our firm, we considered and targeted the highest possible cost per item, and therefore individual costs may fall either at the exact figure or under. That means the cost plan will fit all the required items including costs for the HR plan, operations plan, and marketing plan. Therefore, it is not necessary to revise the costs given that the range given for estimated costs considered all the factors involved. However, as the business and its operations grow, we expect changes in the future considering the trends accounting and taxation industry also can influence the costs.