Blockchain is the background technology behind Bitcoin and is has become one of the hottest technologies currently in the market. Blockchain has the potential to be introduced in multiple industries and make processes more secure, transparent, and efficient. Important industries have all identified blockchain as a revolutionary technology. This business plan brings all the information necessary to start in the blockchain industry for entrepreneurs, startup companies, investors, global organizations and governments.
Blockchain Business Plan
Blockchain technology is a new alternative to regular currency, banking, and transaction methods that will not only change financial transactions, but also other different uses that will change the world. In short, blockchain is a distributed ledger that maintains a list of every transaction across every network distributed over tens of thousands of computers. This makes it almost impossible to hack, changing the way banking is done. In this section of the business plan, there is all the basic information to run a blockchain industry and the way the company work. The business basically earns its money by creating this network of interconnected computers that store and share data safely.
In the business plan, positioning the company will focus on occupying a market niche for your Blockchain business in customers' mind. This section of the plan presents a definition of what customers think about the company and its services and how to explain to them why they are a great choice. This part of the plan defines the position of the company within its target market market. It will help you clarify what your blockchain business does and who you do it for.
Companies in financial services, healthcare, energy and other industries are anxious to begin adopting blockchain; because it promises to improve efficiency in numerous processes and create new business opportunities but many companies are also doing it because of fear of missing out, without a clear understanding of how it can be useful and when it should be applied. In this section of the plan there is description of the operations plan and strategies in order to run a successful blockchain business. These include having the right equipment, hiring programmers and other professionals to build the network and its interface, along with establishing the compensation for those who work for you.
This section of the business plan brings a solid marketing plan that clearly shows the approach the company will take to get into the marketplace to acquire new customers. It also presents what competitors are doing and how that can be improved and what makes your blockchain business different from them.
The blockchain target market is based in terms of service provider, application, end user and region. The target possibilities described in this section of the business plan include application and solutions, middleware and infrastructure and protocols providers; payments, exchanges, clearing and settlement, digital identity, documentation, smart contracts, banking sector, insurance sector, financial institutes, media and entertainment sector, and many others. You will pick from these which one is the best market for your services according to the characteristics of it.
This section presents advertising strategies for the blockchain business, in order to build a battle plan to bring the company into the market. By taking an integrated approach to promotional strategies, communications and advertising, the business plan shows an actionable document which will allow your company to grow. These strategies are commonly based in digital marketing efforts to create brand awareness among corporations and commercial entities that require your services.
This part of the blockchain business plan include a projected balance sheet, which shows the breakdown of assets, liabilities and owner’s equity for the business. In addition, it will include a cash flow statement projection, which reveals the actual movement of cash through a period of 3 to 5 years. The financial projections include estimates of how much money the company plans to borrow if it decides to do it, how much would that cost and if that will be a profitable decision over time.
Financial assumptions and projections are critical components of the blockchain business plans. Along with major revenue sources, there is a narrative that explains how these figures were estimated and what could be the potential variation they could experience.
The major expenses are presented in this section including advertising costs, the cost of building and maintaining the platform, along with rent, mortgage, utilities and staff expenses. The majority of the expenses will go on wages and salaries for experts in the blockchain field.