business plan sample for telecommunications

Business Proposals for the Telecom Industry: A Complete Guide

The telecommunications industry lies at the heart of today’s fast-paced digital world. That’s why it is among the fastest-growing sectors of the world right now. A wide variety of businesses and organizations constitute the telecoms industry. They deal in everything from improving telecom infrastructure, designing and developing modern communication devices, and selling service plans to mobile phone users.

So, you can be doing anything from building and maintaining wireless networks to satellite communications or manufacturing the latest smartphones. With the gradual adoption of 5G technology , Telcos are looking for opportunities that can maximize their bottom line. 

It’s critical to realize that the nature of the telecommunications business is quite complex. A simple handshake, phone call, or brochure is least likely to secure you a new business opportunity. After identifying a potential new project or a beneficial partnership, you almost always need something as consolidating as a business proposal to convince the other party.

The idea of writing a comprehensive business proposal may sound quite daunting to you if you’ve never done anything similar before. But you don’t need to worry because we’re here to help you with that through our comprehensive guide to writing a winning business proposal for the telecom industry. 

Business Proposal Template for The Telecoms Industry

You need to understand two things before actually getting to the business proposal template itself:

• An excellent business proposal should always be customer-centric, customized to the needs and requirements of your potential customer or partner.
• The ultimate goal of all business proposals is the same, i.e., convincing the reader to agree with your ideas.

The winning proposals share a typical structure, too, which is what the below proposal template is all about.

Executive Summary

An executive summary serves to introduce and summarize your business plan . It should focus on describing your business, how it can solve the problem at hand, the target market, and its financial highlights. A practical executive summary aims to grab your reader’s attention, let them know what it’s about, and why they should bother reading the rest of your business proposal. You should consider the executive summary as the very first impression of your business to a potential partner or investor. If it succeeds in impressing them, they’re most likely to take your proposal and business seriously. These are some of the absolute essentials your executive summary should have:

• A brief but meaningful description of your product/service and what problem it is capable of solving.
• A brief overview and description of your target market.
• It should also cover the introduction of the competition, also highlighting your competitive advantage.
• Your executive summary should also cover the company’s financials and your plans to manage them for the proposed project.
• Brief profiles/portfolios of your team members are also a point of interest for your potential clients/investors. Make sure your executive summary covers them.

Product/Service Description

You should dedicate this section to clearly describing product(s), service(s) your business intends to provide. However, it is essential to remember that this is not the right time or place for highly detailed or technical descriptions. You should keep it as concise and straightforward as possible, avoiding industry jargon and buzzwords, so that your readers don’t feel any problem understanding it. On the contrary, what’s essential is describing how your products/services beat the competition in fulfilling your client’s needs. Also, mention any trademarks, copyrights, and patents that you possess should be mentioned here. Some important questions that you should try to answer in this section include: 

• Are your company’s products/services still under development stages or existing (and available on the market)?
• What’s your proposed timeline for introducing new products and services to the market?
• What are the features that differentiate your products/services from the competition? What competitive advantages do they offer against the competition? Are there some disadvantages as well? If yes, how do you plan to overcome them?
• Will the price be an issue for you? Will your expenses be low enough to allow a viable profit margin?
• Do you assemble (or manufacture) your products? If not, how do you plan to get them? If your business idea strikes well, how do you plan to ensure a steady supply without manufacturing? 

Market Analysis

Today’s cutthroat competition makes market research one of the most crucial elements, especially when writing a business proposal. An impressive business proposal is impossible without analyzing and evaluating customer demographics, purchase habits, buying cycles, and willingness to switch to new products and services. This process begins by understanding your market , rightly identifying its inherent opportunities, which requires appropriate research. While doing so, try to answer the following questions, which will help you greatly in understanding the market:  

• What’s your target market? Try to include target demographics, geographic descriptions, and company profiles (if you’re dealing with B2B). In short, do whatever you need to in knowing who your customers are.
• What market segment are you going to focus on in particular? What niche will you try to penetrate, and what percentage of the market do you expect to acquire in a given time?
• What’s the size of your potential target market, and what are their spending habits?
• Why will customers respond to your product/service?
• What will be your pricing strategy? Will you offer the lowest prices or look to provide value-added services at a premium rate?
• Do you expect your market to grow? How much and why?
• How do you plan to increase your market share over time?

Marketing Strategy

As important as it is to provide amazing products and services, you can’t succeed in capturing the market if your target market isn’t aware of their existence. That’s why it’s so imperative to have effective marketing plans and strategies. But make sure you don’t confine marketing to just advertising. It’s much more than that. It involves everything from advertising, promotional literature, public relations, etc. All this is investing in the growth of your business. And like any other business investment, it must generate some return. So, make sure your marketing strategy is a fine mix of all the different elements that constitute marketing. Here are some key questions to answer while preparing your marketing strategy for a business proposal:

• How much budget do you want to dedicate to your sales and marketing endeavors? 
• What mechanism do you want to implement in determining whether your initial marketing efforts are successful or not? 
• How will you adapt if those efforts fail to produce desired results?
• Will you resort to the services of sales representatives in promoting your products/services?

Financial Analysis

When it comes to business, nothing beats the numbers in telling the story. Investors, lenders, partners, entrepreneurs, everyone needs to look into financial projections to decide about a company’s potential for success. And if your business intends to seek external funding, the provision of comprehensive financial analysis and reports becomes even more critical.

However, the most critical aspect of financial projections is that they help you determine the viability of your business. There are at least five essential elements to a significant financial analysis:

Balance Sheet: It covers the company’s cash position, including assets, liabilities, stakeholders, and earnings aimed at funding future operations. It reflects upon the financial health of a business.

Income Statement: It is also known as the “Profit and Loss Statement” in the industry and contains a business’s projected revenue and expenses. It indicates whether or not a company will be profitable for a given period.

Cash Flow Statement: It is used to project cash receipts and expense payments. It also establishes how and when cash will flow through a business, which is very important because all business payments (including salaries) are impossible without money.

Operating Budget: It gives you a thorough breakdown of income and expenses, providing a blueprint for managing its operations.

Break-Even Analysis: It is required to project when a business, under specific conditions, will generate profit.

Dedicate this section to focus on why the other party should pick you as their partner. Here, you should provide details like the company’s history, clients served, any similar projects your company has already worked on successfully, your expertise, any distinctions (like certifications, training, etc.) your business or even your team can boast of. In short, mention anything you believe will help convince the reader of your business proposal over any other.

Want to start creating business proposals with ease? Sign up with Prospero today !

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How To Write a Business Plan for Telecommunications Infrastructure in 9 Steps: Checklist

By alex ryzhkov, resources on telecommunications infrastructure.

• Financial Model
• Business Plan
• Value Proposition
• One-Page Business Plan
• SWOT Analysis
• Business Model
• Marketing Plan

Welcome to our blog post on how to write a business plan for telecommunications infrastructure! If you have a game-changing business idea to revolutionize global telecommunications, this article is for you. By building a satellite network that provides high-speed, low-cost internet to remote regions, you're tapping into a rapidly growing industry. According to recent statistics, the telecommunications market is projected to reach a market value of $2.5 trillion by 2024 with

Research The Industry And Market Trends

Before diving into the process of writing a business plan for telecommunications infrastructure, it is crucial to thoroughly research the industry and market trends . This step will provide you with valuable insights and help you make informed decisions as you develop your business strategy.

Start by gathering data and information on the telecommunications industry as a whole. Familiarize yourself with the latest advancements, emerging technologies, and market dynamics. Understand the current state of the industry and the direction it is heading towards.

Next, analyze market trends to identify potential opportunities and challenges. Look for trends that align with your business idea of revolutionizing global telecommunications. Determine if there is a growing demand for high-speed, low-cost internet in remote regions and if your satellite network can effectively meet this demand.

When conducting your research, consider the following:

• Demographics: Understand the target audience and their specific needs in remote regions.
• Competition: Identify existing players in the telecommunications market, their products/services, and market share.
• Technological advancements: Stay up-to-date with the latest innovations and how they can impact your business.
• Regulatory landscape: Research the laws and regulations related to telecommunications to ensure compliance.
• Stay updated with industry publications, reports, and conferences to gain valuable insights.
• Engage with experts and professionals in the telecommunications field to gather firsthand knowledge.
• Consider conducting surveys or interviews with potential customers to understand their preferences and pain points.

By thoroughly researching the industry and market trends, you will be equipped with the necessary knowledge to create a strong foundation for your business plan. This step will help you identify opportunities, mitigate risks, and position your satellite network effectively in the competitive telecommunications landscape.

Define The Target Market And Customer Needs.

Defining the target market is a crucial step in developing a business plan for telecommunications infrastructure. It helps to identify the specific audience you will serve and understand their needs, preferences, and pain points.

To define your target market, you need to conduct thorough market research and analysis. This will involve gathering data on demographics, psychographics, and buying behavior of potential customers. Market segmentation is essential as it allows you to group customers with similar characteristics and tailor your offerings accordingly.

Here are some key factors to consider when defining your target market:

• Geographic Location: Determine the regions or countries where your satellite network will be most beneficial. Consider factors such as population density, lack of existing infrastructure, and connectivity challenges.
• Demographics: Analyze the age, gender, income level, occupation, and education of your target audience. This information will help you understand their purchasing power and communication needs.
• Psychographics: Dive deeper into understanding the psychographic profiles of your target market. Look at their interests, values, lifestyle choices, and attitudes towards technology. This will help you tailor your marketing and messaging to resonate with them.
• Competitor Analysis: Analyze your competitors' target markets to identify any gaps or opportunities that you can capitalize on. Look for underserved segments or customer groups that your satellite network can cater to uniquely.
• Customer Needs: Identify the specific needs, challenges, and pain points of your target market. Consider how your satellite network can address these needs and provide unique value propositions.

Tips for defining your target market and customer needs:

• Conduct surveys, interviews, and focus groups to gain insights directly from potential customers.
• Engage with industry experts, government organizations, and NGOs working in remote regions to understand their perspectives.
• Stay updated with emerging technologies, trends, and innovations that can impact the telecommunications industry and customer needs.
• Continuously reassess and refine your target market as your business evolves and new opportunities arise.

Conduct A Competitive Analysis.

One of the crucial steps in developing a solid business plan for telecommunications infrastructure is conducting a comprehensive competitive analysis. This analysis involves identifying and analyzing the competition in the market to gain insights into their strengths, weaknesses, strategies, and market positioning.

Here are some key steps to conducting a competitive analysis for your telecommunications infrastructure business:

• Identify direct and indirect competitors: Begin by identifying both direct competitors who offer similar products or services and indirect competitors who may provide alternative solutions to the same customer needs.
• Analyze competitors' strengths and weaknesses: Assess the strengths and weaknesses of each competitor, including their market share, reputation, financial stability, technological capabilities, and customer base.
• Evaluate competitors' strategies: Study the strategies employed by competitors, such as pricing models, marketing tactics, distribution channels, and customer engagement approaches.
• Assess market positioning: Determine how competitors are positioning themselves in the market and understand their unique selling propositions (USPs) or competitive advantages.
• Identify potential barriers to entry: Evaluate any barriers to entry that may exist in the market, such as high capital requirements, established relationships with key stakeholders, or legal and regulatory challenges.

Tips for conducting a competitive analysis:

• Utilize online resources: Make use of tools like industry reports, market research databases, and online platforms to gather information on competitors' performance and market insights.
• Stay updated on industry trends: Regularly monitor industry trends and advancements to understand how the competitive landscape may evolve in the future.
• Consider customer perceptions: Gather feedback and insights from potential customers to understand their perceptions of existing competitors and identify any unmet needs in the market.
• Focus on differentiation: Identify ways to differentiate your telecommunications infrastructure business from competitors, whether through technological innovations, superior customer service, or unique value propositions.

By conducting a thorough competitive analysis, you will gain valuable insights into the existing players in the telecommunications infrastructure market. This information will help you shape your business strategy, refine your offerings, and position your business uniquely to capture market share in the industry.

Identify And Evaluate Potential Suppliers And Partners

When revolutionizing global telecommunications by building a satellite network, it is important to identify and evaluate potential suppliers and partners who can contribute to your project's success. These suppliers and partners will play a crucial role in providing the necessary resources, expertise, and support to ensure the smooth operation of your telecommunications infrastructure.

As you begin this step, make a comprehensive list of potential suppliers and partners who can meet your specific requirements for the project. Research extensively to identify reputable companies that have experience in satellite technology, telecommunications infrastructure, and global connectivity.

Important considerations for identifying and evaluating suppliers and partners:

• Assess their expertise and track record in the telecommunications industry.
• Examine their technical capabilities to ensure they can meet the demands of your satellite network.
• Consider their geographical reach and whether they have the necessary infrastructure to support your project.
• Evaluate their financial stability and reliability to ensure a long-term partnership.
• Look for suppliers and partners who prioritize innovation and stay updated with the latest advancements in telecommunications technology.
• Consider their ability to provide ongoing technical support and maintenance services.
• Reach out to industry experts and seek recommendations on reputable suppliers and partners.

It is crucial to thoroughly evaluate each potential supplier and partner to determine their compatibility with your project goals and objectives. Request detailed proposals and conduct due diligence to ensure they align with your business plan, budget, and timeline.

Remember, building a reliable telecommunications infrastructure requires strong partnerships and collaborations. By carefully identifying and evaluating potential suppliers and partners, you can lay a solid foundation for success in revolutionizing global telecommunications.

Determine The Necessary Legal And Regulatory Requirements

Before launching a telecommunications infrastructure business, it is crucial to understand and comply with the legal and regulatory requirements specific to the industry. These requirements help ensure that your operations are in line with applicable laws and regulations, and can vary from country to country or even within different regions.

Here are key steps to determine the necessary legal and regulatory requirements:

• Conduct thorough research: Start by researching the legal and regulatory framework governing the telecommunications industry in your target market. Identify the specific laws, licenses, permits, and certifications required to establish and operate a telecommunications infrastructure business.
• Engage legal experts: Consider hiring legal professionals specializing in the telecommunications industry. They can provide expert guidance and help navigate the complex legal landscape, ensuring your business complies with all necessary requirements.
• Stay updated: Laws and regulations within the telecommunications industry can change over time. Regularly monitor updates and changes to ensure ongoing compliance.
• Seek professional advice: Engaging experienced legal counsel with expertise in the telecommunications sector can offer valuable insights and guidance throughout the legal and regulatory compliance process.

By determining the necessary legal and regulatory requirements, you demonstrate your commitment to operating within the confines of the law. This not only safeguards your business from potential legal issues but also instills confidence in stakeholders, including customers and investors, who value compliance and accountability.

Assess The Financial Feasibility Of The Business

Assessing the financial feasibility of your business is a crucial step in determining whether your telecommunications infrastructure plan is viable. It involves evaluating the financial resources required to implement and sustain your operations, as well as the potential profitability of your venture.

1. Estimate Costs: Begin by estimating the costs associated with building and launching the satellite network, including satellite acquisition, ground infrastructure, and personnel expenses. Consider factors such as initial investment, ongoing maintenance, and operational costs.

2. Project Revenue: Forecast potential revenue streams by analyzing market demand, pricing models, and customer acquisition strategies. Consider the subscription fees, advertising revenue, and potential partnerships that could contribute to your revenue projections.

3. Conduct a Break-Even Analysis: Determine the point at which your business will cover all its costs and start generating profits. This analysis will help you understand how many customers or subscribers you need to achieve profitability.

4. Evaluate Funding Options: Explore different funding options, such as loans, grants, or venture capital, to secure the necessary financial resources. Assess the risks and benefits of each option and develop a comprehensive financing plan.

Financial Feasibility Tips:

• Develop a realistic and detailed financial forecast that takes into account potential risks and challenges.
• Engage with financial experts or consultants who specialize in the telecommunications industry to ensure accurate financial analysis.
• Consider creating different scenarios or models to assess the financial viability under various market conditions.
• Continuously monitor and reassess the financial feasibility of your business, especially as market dynamics and technology evolve.

5. Mitigate Financial Risks: Identify potential financial risks, such as competition, regulatory changes, or unexpected expenses. Develop risk mitigation strategies and contingency plans to protect your business from potential financial setbacks.

6. Evaluate Return on Investment: Calculate the return on investment (ROI) by comparing the expected financial gains to the initial investment. This analysis will help you determine if the project's returns align with your business goals and investment expectations.

By thoroughly assessing the financial feasibility of your business plan for telecommunications infrastructure, you will gain valuable insights into the viability and profitability of your venture. This evaluation will enable you to make informed decisions, attract potential investors, and set your business on the path to success.

Create A Detailed Operational Plan

In order to execute your telecommunications infrastructure business successfully, it is essential to have a detailed operational plan in place. This plan will serve as a roadmap for all the activities and processes that need to be carried out to achieve your business objectives. Here are some key steps to help you create a thorough operational plan:

• Define your operational goals and objectives: Start by clearly defining what you want to achieve through your operational activities. This could include factors such as network coverage, quality of service, and customer satisfaction.
• Identify the required resources: Determine the equipment, technology, and infrastructure needed to establish and maintain your satellite network. Consider factors such as hardware, software, skilled manpower, and partnerships with other service providers.
• Create a network design and implementation plan: Develop a comprehensive plan outlining the technical details of your satellite network. This should include the number and positioning of satellites, ground stations, and data transmission protocols. Consider factors such as signal strength, bandwidth capacity, and network scalability.
• Establish operational processes and procedures: Define the operational processes and procedures that will govern the day-to-day functioning of your telecommunications infrastructure. This could include activities such as network monitoring, troubleshooting, customer support, and maintenance.
• Develop a staffing plan: Determine the human resource requirements for operating and maintaining your satellite network. Assess the skills and expertise needed and create a plan for hiring, training, and retaining qualified personnel.
• Outline a contingency and disaster recovery plan: Anticipate potential risks and challenges that may arise in the operation of your telecommunications infrastructure. Develop a comprehensive plan to mitigate these risks and ensure business continuity. This could include measures such as redundancy in network infrastructure, backup power systems, and disaster recovery protocols.
• Regularly review and update your operational plan to accommodate changes in the industry, technology, or customer needs.
• Ensure effective communication and coordination among different departments and teams involved in the operation of your telecommunications infrastructure.
• Consider outsourcing certain operational activities, such as customer support or network maintenance, to specialized service providers to optimize efficiency and cost-effectiveness.

By creating a detailed operational plan, you will not only have a clear understanding of the tasks and processes involved in running your telecommunications business, but also be better prepared to overcome challenges and achieve success in the industry.

Develop A Marketing And Sales Strategy.

Once you have a clear understanding of your target market and customer needs, it's time to develop a comprehensive marketing and sales strategy. This strategy will outline how you plan to reach your target audience, promote your telecommunications infrastructure, and ultimately generate revenue.

1. Identify your unique selling proposition (USP). Determine what sets your satellite network apart from competitors and highlight this in your marketing materials. Whether it's your technology, pricing, or customer service, clearly communicate the value you bring to potential customers.

2. Define your target audience. Identify the specific demographic, geographic, and psychographic characteristics of your ideal customers. This will help you tailor your marketing efforts to reach the right people and maximize your return on investment.

3. Choose the right marketing channels. Consider which channels are most effective for reaching your target audience. This could include digital marketing tactics such as search engine optimization (SEO), social media advertising, content marketing, and email campaigns, as well as traditional marketing methods like print ads, television, and radio.

• Consider partnering with local telecommunications providers or internet service providers to expand your reach and tap into their existing customer base.
• Invest in professional branding and design to create a strong visual identity that resonates with your target audience.
• Explore influencer marketing opportunities by collaborating with relevant industry experts or influencers.

4. Craft compelling messaging. Develop clear and persuasive messaging that effectively communicates the benefits and advantages of your telecommunications infrastructure. This messaging should resonate with your target audience and address their pain points.

5. Build a strong online presence. Create a user-friendly website that showcases your offerings, provides informative content, and enables potential customers to easily inquire or make purchases. Additionally, leverage search engine marketing techniques to increase your online visibility and drive traffic to your website.

6. Nurture leads and build relationships. Implement a lead nurturing strategy to engage with potential customers and move them through the sales funnel. This may include personalized email campaigns, targeted advertisements, and valuable content that addresses their specific needs and objections.

• Offer free trials or limited-time promotions to incentivize potential customers to try your services.
• Provide excellent customer support to build trust and loyalty.
• Consider partnering with resellers or distributors to expand your sales reach.

7. Monitor and measure your marketing efforts. Regularly review and analyze key performance indicators (KPIs) to assess the effectiveness of your marketing and sales strategies. This data will help you make informed decisions and refine your approach to achieve optimal results.

8. Adapt and evolve. The telecommunications industry is constantly evolving, so it's essential to stay updated with the latest trends, technologies, and consumer preferences. Continuously refine your marketing and sales strategy to remain competitive and meet the evolving needs of your target market.

By developing a comprehensive marketing and sales strategy, you will be well-equipped to effectively promote and sell your satellite network, bringing high-speed, low-cost internet to remote regions and revolutionizing global telecommunications.

Establish Key Performance Indicators And Milestones

Once you have laid out your operational plan and marketing strategy, it is crucial to establish Key Performance Indicators (KPIs) and milestones to measure the success of your telecommunications infrastructure business. These metrics will help you track progress, make informed decisions, and ensure that you are on track to achieve your goals.

To begin, you should identify the most relevant KPIs that align with your business objectives. Some common KPIs for a telecommunications infrastructure company might include:

• Customer Acquisition Rate: This indicator measures how successful you are at acquiring new customers within a specific timeframe. It helps you gauge the effectiveness of your marketing and sales efforts.
• Customer Churn Rate: By tracking the rate at which customers are leaving your service, you can assess customer satisfaction and identify areas for improvement in customer retention.
• Network Uptime: This KPI measures the percentage of time your satellite network is operational and providing internet service. A high network uptime is crucial to meeting customer needs and maintaining a reliable reputation.
• Revenue Growth: Tracking revenue growth allows you to monitor the financial success of your business over time and adjust your strategies accordingly.

Tips for Establishing KPIs And Milestones:

• Ensure that your KPIs are specific, measurable, attainable, relevant, and time-bound (SMART). This will help you set clear targets and evaluate your progress effectively.
• Regularly review and update your KPIs as your business evolves. Some indicators may become more or less relevant as your company grows and adapts to changing market conditions.
• Set milestones along the way to break down your long-term goals into manageable chunks. These milestones can serve as checkpoints for evaluating progress and making adjustments to your strategies when needed.
• Consider using data analytics tools and software to track and visualize your KPIs efficiently. This will enable you to gather accurate information and gain valuable insights into your business performance.

By establishing clear KPIs and milestones, you will be better equipped to monitor the success of your telecommunications infrastructure business and make informed decisions to drive growth and improvement. Regularly analyze your performance against these indicators and adjust your strategies as needed to ensure long-term success in revolutionizing global telecommunications.

In conclusion, writing a business plan for a telecommunications infrastructure project requires careful research and analysis of the industry, market trends, and customer needs. It is important to thoroughly evaluate potential suppliers, partners, legal and regulatory requirements, and financial feasibility. Creating a detailed operational plan, developing a robust marketing and sales strategy, and establishing key performance indicators and milestones are essential steps in ensuring the success of the business.

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Telecommunication Company Strategic Plan Template

• Great for beginners
• Ready-to-use, fully customizable Subcategory
• Get started in seconds

In the fast-paced and ever-evolving world of telecommunications, having a clear and comprehensive strategic plan is essential for success. That's why ClickUp's Telecommunication Company Strategic Plan Template is a game-changer for executive leadership teams in the industry.

With this template, you'll be able to:

• Define and prioritize your business goals and objectives
• Map out strategies for market expansion, revenue growth, and customer acquisition
• Identify opportunities for product development and infrastructure investments
• Analyze and stay ahead of the competition in the telecommunications industry

Whether you're a seasoned executive or a budding entrepreneur, ClickUp's Telecommunication Company Strategic Plan Template will help you navigate the complex landscape and drive your company towards long-term success. Don't miss out on this invaluable tool - try it today!

Benefits of Telecommunication Company Strategic Plan Template

In today's competitive telecommunication industry, having a strategic plan is crucial for success. With the Telecommunication Company Strategic Plan Template, you can:

• Clearly define your business goals and objectives for effective decision-making and resource allocation
• Identify and capitalize on market expansion opportunities to stay ahead of the competition
• Drive revenue growth through targeted product development and innovation strategies
• Make informed infrastructure investments to ensure a reliable and high-quality network for your customers
• Develop customer acquisition and retention strategies to build a loyal customer base
• Position your company competitively in the market to attract new customers and retain existing ones
• Drive long-term success and profitability by aligning your business activities with your strategic plan.

Main Elements of Telecommunication Company Strategic Plan Template

ClickUp's Telecommunication Company Strategic Plan template is the perfect tool to help you streamline your company's strategic planning process.

Here are the main elements of this template:

• Custom Statuses: Keep track of the progress of your strategic initiatives with 5 different statuses, including Cancelled, Complete, In Progress, On Hold, and To Do.
• Custom Fields: Utilize 8 different custom fields, such as Duration Days, Impact, Progress, and Team Members, to capture important information about each strategic initiative.
• Custom Views: Take advantage of 6 different views, including the Progress view to monitor the overall progress of your strategic plan, the Gantt view to visualize timelines and dependencies, and the Workload view to manage resource allocation and workload distribution.
• Project Management: Leverage ClickUp's powerful project management capabilities, including the Timeline view for long-term planning, the Initiatives view to break down strategic goals into actionable tasks, and the Getting Started Guide view to help your team get up to speed quickly.

How to Use Strategic Plan for Telecommunication Company

To effectively utilize the Telecommunication Company Strategic Plan Template, follow these four steps:

1. Assess the current state of your company

Before diving into the strategic planning process, it's crucial to evaluate the current state of your telecommunication company. This assessment should include analyzing your company's strengths, weaknesses, opportunities, and threats (SWOT analysis). Take note of your competitive position in the market, customer satisfaction levels, and any emerging trends or challenges that may impact your business.

Use the Goals feature in ClickUp to create goals and objectives based on the findings of your assessment.

2. Define your strategic goals

Once you have a clear understanding of your company's current state, it's time to define your strategic goals. These goals should align with your company's mission and vision, and they should be specific, measurable, achievable, relevant, and time-bound (SMART). Consider long-term objectives such as increasing market share, improving customer retention, or expanding into new markets.

Utilize the Board view in ClickUp to create cards for each strategic goal and track progress.

3. Develop strategic initiatives

With your goals in place, it's time to develop strategic initiatives that will help you achieve those goals. These initiatives should outline the specific actions and projects that need to be implemented to move your company forward. For example, if your goal is to improve customer retention, your initiatives might include implementing a customer loyalty program, enhancing customer service training, or launching targeted marketing campaigns.

Use the Gantt chart feature in ClickUp to create a timeline for each strategic initiative and set deadlines for completion.

4. Monitor and adjust your plan

Strategic planning is an ongoing process, so it's important to regularly monitor and adjust your plan as needed. Track the progress of your strategic initiatives, measure key performance indicators (KPIs), and gather feedback from stakeholders. If you find that certain initiatives are not yielding the desired results, be open to making adjustments or pivoting your strategy.

Use the Dashboards feature in ClickUp to visualize and analyze the data related to your strategic plan, making it easy to identify areas that require attention or modification.

Get Started with ClickUp’s Telecommunication Company Strategic Plan Template

The executive leadership team of a telecommunication company can use the Telecommunication Company Strategic Plan Template to outline and guide the company's business goals and objectives.

First, hit “Add Template” to sign up for ClickUp and add the template to your Workspace. Make sure you designate which Space or location in your Workspace you’d like this template applied.

Next, invite relevant members or guests to your Workspace to start collaborating.

Now you can take advantage of the full potential of this template to create a strategic plan for your telecommunication company:

• Use the Progress view to track the progress of each goal and objective
• The Gantt view will help you visualize the timeline and dependencies of each task
• Use the Workload view to ensure that resources are allocated effectively
• The Timeline view will give you a clear overview of important milestones and deadlines
• Use the Initiatives view to break down your strategic plan into actionable initiatives
• The Getting Started Guide will provide you with step-by-step instructions on how to use the template
• Organize tasks into five different statuses: Cancelled, Complete, In Progress, On Hold, To Do, to keep track of progress
• Update statuses as you make progress to keep team members informed
• Monitor and analyze tasks to ensure the successful implementation of your strategic plan

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24 of My Favorite Sample Business Plans & Examples For Your Inspiration

Published: February 06, 2024

I believe that reading sample business plans is essential when writing your own.

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As you explore business plan examples from real companies and brands, it’s easier for you to learn how to write a good one.

But what does a good business plan look like? And how do you write one that’s both viable and convincing. I’ll walk you through the ideal business plan format along with some examples to help you get started.

Table of Contents

Business Plan Format

Business plan types, sample business plan templates, top business plan examples.

Ask any successful sports coach how they win so many games, and they’ll tell you they have a unique plan for every single game. To me, the same logic applies to business.

If you want to build a thriving company that can pull ahead of the competition, you need to prepare for battle before breaking into a market.

Business plans guide you along the rocky journey of growing a company. And if your business plan is compelling enough, it can also convince investors to give you funding.

With so much at stake, I’m sure you’re wondering where to begin.

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First, you’ll want to nail down your formatting. Most business plans include the following sections.

1. Executive Summary

I’d say the executive summary is the most important section of the entire business plan. 

Why? Essentially, it's the overview or introduction, written in a way to grab readers' attention and guide them through the rest of the business plan. This is important, because a business plan can be dozens or hundreds of pages long.

There are two main elements I’d recommend including in your executive summary:

Company Description

This is the perfect space to highlight your company’s mission statement and goals, a brief overview of your history and leadership, and your top accomplishments as a business.

Tell potential investors who you are and why what you do matters. Naturally, they’re going to want to know who they’re getting into business with up front, and this is a great opportunity to showcase your impact.

Need some extra help firming up those business goals? Check out HubSpot Academy’s free course to help you set goals that matter — I’d highly recommend it

Products and Services

To piggyback off of the company description, be sure to incorporate an overview of your offerings. This doesn’t have to be extensive — just another chance to introduce your industry and overall purpose as a business.

In addition to the items above, I recommend including some information about your financial projections and competitive advantage here too.:

Keep in mind you'll cover many of these topics in more detail later on in the business plan. So, keep the executive summary clear and brief, and only include the most important takeaways.

Executive Summary Business Plan Examples

This example was created with HubSpot’s business plan template:

This executive summary is so good to me because it tells potential investors a short story while still covering all of the most important details.

Image Source

Tips for Writing Your Executive Summary

• Start with a strong introduction of your company, showcase your mission and impact, and outline the products and services you provide.
• Clearly define a problem, and explain how your product solves that problem, and show why the market needs your business.
• Be sure to highlight your value proposition, market opportunity, and growth potential.
• Keep it concise and support ideas with data.
• Customize your summary to your audience. For example, emphasize finances and return on investment for venture capitalists.

Check out our tips for writing an effective executive summary for more guidance.

2. Market Opportunity

This is where you'll detail the opportunity in the market.

The main question I’d ask myself here is this: Where is the gap in the current industry, and how will my product fill that gap?

More specifically, here’s what I’d include in this section:

• The size of the market
• Current or potential market share
• Trends in the industry and consumer behavior
• Where the gap is
• What caused the gap
• How you intend to fill it

To get a thorough understanding of the market opportunity, you'll want to conduct a TAM, SAM, and SOM analysis and perform market research on your industry.

You may also benefit from creating a SWOT analysis to get some of the insights for this section.

Market Opportunity Business Plan Example

I like this example because it uses critical data to underline the size of the potential market and what part of that market this service hopes to capture.

Tips for Writing Your Market Opportunity Section

• Focus on demand and potential for growth.
• Use market research, surveys, and industry trend data to support your market forecast and projections.
• Add a review of regulation shifts, tech advances, and consumer behavior changes.
• Refer to reliable sources.
• Showcase how your business can make the most of this opportunity.

3. Competitive Landscape

Since we’re already speaking of market share, you'll also need to create a section that shares details on who the top competitors are.

After all, your customers likely have more than one brand to choose from, and you'll want to understand exactly why they might choose one over another.

My favorite part of performing a competitive analysis is that it can help you uncover:

• Industry trends that other brands may not be utilizing
• Strengths in your competition that may be obstacles to handle
• Weaknesses in your competition that may help you develop selling points
• The unique proposition you bring to the market that may resonate with customers

Competitive Landscape Business Plan Example

I like how the competitive landscape section of this business plan below shows a clear outline of who the top competitors are.

It also highlights specific industry knowledge and the importance of location, which shows useful experience in this specific industry. 

This can help build trust in your ability to execute your business plan.

Tips for Writing Your Competitive Landscape

• Complete in-depth research, then emphasize your most important findings.
• Compare your unique selling proposition (USP) to your direct and indirect competitors.
• Show a clear and realistic plan for product and brand differentiation.
• Look for specific advantages and barriers in the competitive landscape. Then, highlight how that information could impact your business.
• Outline growth opportunities from a competitive perspective.
• Add customer feedback and insights to support your competitive analysis.

4. Target Audience

Use this section to describe who your customer segments are in detail. What is the demographic and psychographic information of your audience?

If your immediate answer is "everyone," you'll need to dig deeper. Here are some questions I’d ask myself here:

• What demographics will most likely need/buy your product or service?
• What are the psychographics of this audience? (Desires, triggering events, etc.)
• Why are your offerings valuable to them?

I’d also recommend building a buyer persona to get in the mindset of your ideal customers and be clear on why you're targeting them.

Target Audience Business Plan Example

I like the example below because it uses in-depth research to draw conclusions about audience priorities. It also analyzes how to create the right content for this audience.

Tips for Writing Your Target Audience Section

• Include details on the size and growth potential of your target audience.
• Figure out and refine the pain points for your target audience , then show why your product is a useful solution.
• Describe your targeted customer acquisition strategy in detail.
• Share anticipated challenges your business may face in acquiring customers and how you plan to address them.
• Add case studies, testimonials, and other data to support your target audience ideas.
• Remember to consider niche audiences and segments of your target audience in your business plan.

5. Marketing Strategy

Here, you'll discuss how you'll acquire new customers with your marketing strategy. I’d suggest including information:

• Your brand positioning vision and how you'll cultivate it
• The goal targets you aim to achieve
• The metrics you'll use to measure success
• The channels and distribution tactics you'll use

I think it’s helpful to have a marketing plan built out in advance to make this part of your business plan easier.

Marketing Strategy Business Plan Example

This business plan example includes the marketing strategy for the town of Gawler.

In my opinion, it really works because it offers a comprehensive picture of how they plan to use digital marketing to promote the community.

Tips for Writing Your Marketing Strategy

• Include a section about how you believe your brand vision will appeal to customers.
• Add the budget and resources you'll need to put your plan in place.
• Outline strategies for specific marketing segments.
• Connect strategies to earlier sections like target audience and competitive analysis.
• Review how your marketing strategy will scale with the growth of your business.
• Cover a range of channels and tactics to highlight your ability to adapt your plan in the face of change.

6. Key Features and Benefits

At some point in your business plan, you'll need to review the key features and benefits of your products and/or services.

Laying these out can give readers an idea of how you're positioning yourself in the market and the messaging you're likely to use. It can even help them gain better insight into your business model.

Key Features and Benefits Business Plan Example

In my opinion, the example below does a great job outlining products and services for this business, along with why these qualities will attract the audience.

Tips for Writing Your Key Features and Benefits

• Emphasize why and how your product or service offers value to customers.
• Use metrics and testimonials to support the ideas in this section.
• Talk about how your products and services have the potential to scale.
• Think about including a product roadmap.
• Focus on customer needs, and how the features and benefits you are sharing meet those needs.
• Offer proof of concept for your ideas, like case studies or pilot program feedback.
• Proofread this section carefully, and remove any jargon or complex language.

7. Pricing and Revenue

This is where you'll discuss your cost structure and various revenue streams. Your pricing strategy must be solid enough to turn a profit while staying competitive in the industry. 

For this reason, here’s what I’d might outline in this section:

• The specific pricing breakdowns per product or service
• Why your pricing is higher or lower than your competition's
• (If higher) Why customers would be willing to pay more
• (If lower) How you're able to offer your products or services at a lower cost
• When you expect to break even, what margins do you expect, etc?

Pricing and Revenue Business Plan Example

I like how this business plan example begins with an overview of the business revenue model, then shows proposed pricing for key products.

Tips for Writing Your Pricing and Revenue Section

• Get specific about your pricing strategy. Specifically, how you connect that strategy to customer needs and product value.
• If you are asking a premium price, share unique features or innovations that justify that price point.
• Show how you plan to communicate pricing to customers.
• Create an overview of every revenue stream for your business and how each stream adds to your business model as a whole.
• Share plans to develop new revenue streams in the future.
• Show how and whether pricing will vary by customer segment and how pricing aligns with marketing strategies.
• Restate your value proposition and explain how it aligns with your revenue model.

8. Financials

To me, this section is particularly informative for investors and leadership teams to figure out funding strategies, investment opportunities, and more.

 According to Forbes , you'll want to include three main things:

• Profit/Loss Statement - This answers the question of whether your business is currently profitable.
• Cash Flow Statement - This details exactly how much cash is incoming and outgoing to give insight into how much cash a business has on hand.
• Balance Sheet - This outlines assets, liabilities, and equity, which gives insight into how much a business is worth.

While some business plans might include more or less information, these are the key details I’d include in this section.

Financials Business Plan Example

This balance sheet is a great example of level of detail you’ll need to include in the financials section of your business plan.

Tips for Writing Your Financials Section

• Growth potential is important in this section too. Using your data, create a forecast of financial performance in the next three to five years.
• Include any data that supports your projections to assure investors of the credibility of your proposal.
• Add a break-even analysis to show that your business plan is financially practical. This information can also help you pivot quickly as your business grows.
• Consider adding a section that reviews potential risks and how sensitive your plan is to changes in the market.
• Triple-check all financial information in your plan for accuracy.
• Show how any proposed funding needs align with your plans for growth.

As you create your business plan, keep in mind that each of these sections will be formatted differently. Some may be in paragraph format, while others could be charts or graphs.

The formats above apply to most types of business plans. That said, the format and structure of your plan will vary by your goals for that plan. 

So, I’ve added a quick review of different business plan types. For a more detailed overview, check out this post .

1. Startups

Startup business plans are for proposing new business ideas.

If you’re planning to start a small business, preparing a business plan is crucial. The plan should include all the major factors of your business.

You can check out this guide for more detailed business plan inspiration .

2. Feasibility Studies

Feasibility business plans focus on that business's product or service. Feasibility plans are sometimes added to startup business plans. They can also be a new business plan for an already thriving organization.

3. Internal Use

You can use internal business plans to share goals, strategies, or performance updates with stakeholders. In my opinion, internal business plans are useful for alignment and building support for ambitious goals.

4. Strategic Initiatives

Another business plan that's often for sharing internally is a strategic business plan. This plan covers long-term business objectives that might not have been included in the startup business plan.

5. Business Acquisition or Repositioning

When a business is moving forward with an acquisition or repositioning, it may need extra structure and support. These types of business plans expand on a company's acquisition or repositioning strategy.

Growth sometimes just happens as a business continues operations. But more often, a business needs to create a structure with specific targets to meet set goals for expansion. This business plan type can help a business focus on short-term growth goals and align resources with those goals.

Now that you know what's included and how to format a business plan, let's review some of my favorite templates.

1. HubSpot's One-Page Business Plan

Download a free, editable one-page business plan template..

The business plan linked above was created here at HubSpot and is perfect for businesses of any size — no matter how many strategies we still have to develop.

Fields such as Company Description, Required Funding, and Implementation Timeline give this one-page business plan a framework for how to build your brand and what tasks to keep track of as you grow.

Then, as the business matures, you can expand on your original business plan with a new iteration of the above document.

Why I Like It

This one-page business plan is a fantastic choice for the new business owner who doesn’t have the time or resources to draft a full-blown business plan. It includes all the essential sections in an accessible, bullet-point-friendly format. That way, you can get the broad strokes down before honing in on the details.

2. HubSpot's Downloadable Business Plan Template

We also created a business plan template for entrepreneurs.

The template is designed as a guide and checklist for starting your own business. You’ll learn what to include in each section of your business plan and how to do it.

There’s also a list for you to check off when you finish each section of your business plan.

Strong game plans help coaches win games and help businesses rocket to the top of their industries. So if you dedicate the time and effort required to write a workable and convincing business plan, you’ll boost your chances of success and even dominance in your market.

This business plan kit is essential for the budding entrepreneur who needs a more extensive document to share with investors and other stakeholders.

It not only includes sections for your executive summary, product line, market analysis, marketing plan, and sales plan, but it also offers hands-on guidance for filling out those sections.

3. LiveFlow’s Financial Planning Template with built-in automation

This free template from LiveFlow aims to make it easy for businesses to create a financial plan and track their progress on a monthly basis.

The P&L Budget versus Actual format allows users to track their revenue, cost of sales, operating expenses, operating profit margin, net profit, and more.

The summary dashboard aggregates all of the data put into the financial plan sheet and will automatically update when changes are made.

Instead of wasting hours manually importing your data to your spreadsheet, LiveFlow can also help you to automatically connect your accounting and banking data directly to your spreadsheet, so your numbers are always up-to-date.

With the dashboard, you can view your runway, cash balance, burn rate, gross margins, and other metrics. Having a simple way to track everything in one place will make it easier to complete the financials section of your business plan.

This is a fantastic template to track performance and alignment internally and to create a dependable process for documenting financial information across the business. It’s highly versatile and beginner-friendly.

It’s especially useful if you don’t have an accountant on the team. (I always recommend you do, but for new businesses, having one might not be possible.)

4. ThoughtCo’s Sample Business Plan

One of the more financially oriented sample business plans in this list, BPlan’s free business plan template dedicates many of its pages to your business’s financial plan and financial statements.

After filling this business plan out, your company will truly understand its financial health and the steps you need to take to maintain or improve it.

I absolutely love this business plan template because of its ease-of-use and hands-on instructions (in addition to its finance-centric components). If you feel overwhelmed by the thought of writing an entire business plan, consider using this template to help you with the process.

6. Harvard Business Review’s "How to Write a Winning Business Plan"

Most sample business plans teach you what to include in your business plan, but this Harvard Business Review article will take your business plan to the next level — it teaches you the why and how behind writing a business plan.

With the guidance of Stanley Rich and Richard Gumpert, co-authors of " Business Plans That Win: Lessons From the MIT Enterprise Forum ", you'll learn how to write a convincing business plan that emphasizes the market demand for your product or service.

You’ll also learn the financial benefits investors can reap from putting money into your venture rather than trying to sell them on how great your product or service is.

This business plan guide focuses less on the individual parts of a business plan, and more on the overarching goal of writing one. For that reason, it’s one of my favorites to supplement any template you choose to use. Harvard Business Review’s guide is instrumental for both new and seasoned business owners.

7. HubSpot’s Complete Guide to Starting a Business

If you’re an entrepreneur, you know writing a business plan is one of the most challenging first steps to starting a business.

Fortunately, with HubSpot's comprehensive guide to starting a business, you'll learn how to map out all the details by understanding what to include in your business plan and why it’s important to include them. The guide also fleshes out an entire sample business plan for you.

If you need further guidance on starting a business, HubSpot's guide can teach you how to make your business legal, choose and register your business name, and fund your business. It will also give small business tax information and includes marketing, sales, and service tips.

This comprehensive guide will walk you through the process of starting a business, in addition to writing your business plan, with a high level of exactitude and detail. So if you’re in the midst of starting your business, this is an excellent guide for you.

It also offers other resources you might need, such as market analysis templates.

8. Panda Doc’s Free Business Plan Template

PandaDoc’s free business plan template is one of the more detailed and fleshed-out sample business plans on this list. It describes what you should include in each section, so you don't have to come up with everything from scratch.

Once you fill it out, you’ll fully understand your business’ nitty-gritty details and how all of its moving parts should work together to contribute to its success.

This template has two things I love: comprehensiveness and in-depth instructions. Plus, it’s synced with PandaDoc’s e-signature software so that you and other stakeholders can sign it with ease. For that reason, I especially love it for those starting a business with a partner or with a board of directors.

9. Small Business Administration Free Business Plan Template

The Small Business Administration (SBA) offers several free business plan templates that can be used to inspire your own plan.

Before you get started, you can decide what type of business plan you need — a traditional or lean start-up plan.

Then, you can review the format for both of those plans and view examples of what they might look like.

We love both of the SBA’s templates because of their versatility. You can choose between two options and use the existing content in the templates to flesh out your own plan. Plus, if needed, you can get a free business counselor to help you along the way.

I’ve compiled some completed business plan samples to help you get an idea of how to customize a plan for your business.

I chose different types of business plan ideas to expand your imagination. Some are extensive, while others are fairly simple.

Let’s take a look.

1. LiveFlow

One of the major business expenses is marketing. How you handle your marketing reflects your company’s revenue.

I included this business plan to show you how you can ensure your marketing team is aligned with your overall business plan to get results. The plan also shows you how to track even the smallest metrics of your campaigns, like ROI and payback periods instead of just focusing on big metrics like gross and revenue.

Fintech startup, LiveFlow, allows users to sync real-time data from its accounting services, payment platforms, and banks into custom reports. This eliminates the task of pulling reports together manually, saving teams time and helping automate workflows.

"Using this framework over a traditional marketing plan will help you set a profitable marketing strategy taking things like CAC, LTV, Payback period, and P&L into consideration," explains LiveFlow co-founder, Lasse Kalkar .

When it came to including marketing strategy in its business plan, LiveFlow created a separate marketing profit and loss statement (P&L) to track how well the company was doing with its marketing initiatives.

This is a great approach, allowing businesses to focus on where their marketing dollars are making the most impact. Having this information handy will enable you to build out your business plan’s marketing section with confidence. LiveFlow has shared the template here . You can test it for yourself.

2. Lula Body

Sometimes all you need is a solid mission statement and core values to guide you on how to go about everything. You do this by creating a business plan revolving around how to fulfill your statement best.

For example, Patagonia is an eco-friendly company, so their plan discusses how to make the best environmentally friendly products without causing harm.

A good mission statement  should not only resonate with consumers but should also serve as a core value compass for employees as well.

Patagonia has one of the most compelling mission statements I’ve seen:

"Together, let’s prioritise purpose over profit and protect this wondrous planet, our only home."

It reels you in from the start, and the environmentally friendly theme continues throughout the rest of the statement.

This mission goes on to explain that they are out to "Build the best product, cause no unnecessary harm, and use business to protect nature."

Their mission statement is compelling and detailed, with each section outlining how they will accomplish their goal.

4. Vesta Home Automation

This executive summary for a smart home device startup is part of a business plan created by students at Mount Royal University .

While it lacks some of the sleek visuals of the templates above, its executive summary does a great job of demonstrating how invested they are in the business.

Right away, they mention they’ve invested $200,000 into the company already, which shows investors they have skin in the game and aren’t just looking for someone else to foot the bill.

This is the kind of business plan you need when applying for business funds. It clearly illustrates the expected future of the company and how the business has been coming along over the years.

5. NALB Creative Center

This fictional business plan for an art supply store includes everything one might need in a business plan: an executive summary, a company summary, a list of services, a market analysis summary, and more.

One of its most notable sections is its market analysis summary, which includes an overview of the population growth in the business’ target geographical area, as well as a breakdown of the types of potential customers they expect to welcome at the store. 

This sort of granular insight is essential for understanding and communicating your business’s growth potential. Plus, it lays a strong foundation for creating relevant and useful buyer personas .

It’s essential to keep this information up-to-date as your market and target buyer changes. For that reason, you should carry out market research as often as possible to ensure that you’re targeting the correct audience and sharing accurate information with your investors.

Due to its comprehensiveness, it’s an excellent example to follow if you’re opening a brick-and-mortar store and need to get external funding to start your business .

6. Curriculum Companion Suites (CSS)

If you’re looking for a SaaS business plan example, look no further than this business plan for a fictional educational software company called Curriculum Companion Suites. 

Like the business plan for the NALB Creative Center, it includes plenty of information for prospective investors and other key stakeholders in the business.

One of the most notable features of this business plan is the executive summary, which includes an overview of the product, market, and mission.

The first two are essential for software companies because the product offering is so often at the forefront of the company’s strategy. Without that information being immediately available to investors and executives, then you risk writing an unfocused business plan.

It’s essential to front-load your company’s mission if it explains your "Why?" and this example does just that. In other words, why do you do what you do, and why should stakeholders care? This is an important section to include if you feel that your mission will drive interest in the business and its offerings.

7. Culina Sample Business Plan

Culina's sample business plan is an excellent example of how to lay out your business plan so that it flows naturally, engages readers, and provides the critical information investors and stakeholders need. 

You can use this template as a guide while you're gathering important information for your own business plan. You'll have a better understanding of the data and research you need to do since Culina’s plan outlines these details so flawlessly for inspiration.

8. Plum Sample Business Plan

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Telecommunications Sample Business Plan

Related Topics

Security guard business plan sample, high-tech marketing sample business plan, business development sample business plan.

Click here to view this full business plan

Telecommunications Business Plan

Executive summary.

The telecommunications revolution has arrived: Personal communications and unified messaging systems are at the vanguard of this technological phenomenon. Dating from the 1984 deregulation of local and long distance telephone service, competition has accelerated and sought out every nook and cranny of telecom products and services for both consumers and businesses. From that day only 15 years ago, when consumers were tied to a fixed phone with its fixed phone number, mobile and cellular phones have proliferated to meet the demand for communication anytime, anywhere in the world. Companies that have not foreseen change–or kept up–are quickly consigned to the technological and financial graveyard, Iridium being just the latest example. Financial muscle has been displaced by quality and depth of management and speed of execution as the final arbiter in the marketplace. AT&T finally realized this and brought in a technology-savvy CEO who could pull the trigger on needed change; Iridium did not and paid the price.

TeleSpace is well positioned to become the market leader in personal communications and unified messaging. Now that business and the consumer have telecommunications mobility with numerous phone and fax numbers, pagers, and email, they are demanding simplicity and speed: One identifier for their complex business and personal lives that will find them anytime, anywhere, and deliver their communications. They want and need MyLine.

MyLine has been an operating system for over five years and has a loyal, though small, core of customers. The technology is clean, elegant and maintainable. The system has a complex array of features, some critical, most not. MyLine has had limited success because it was engineered and marketed like the pocket knife of the early TV ads: Rather than the sleek cutting tool the consumer wanted, the early knife had a corkscrew, screwdrivers, awl, key chain, etc. It weighed twice as much as it had to, and came with instructions, instructions for a pocket knife! Consumers knew they were in trouble before they even used the product.

Internal market research has shown what the consumer wants, and MyLine has it! There are five primary target markets, three of which will be discussed below, starting with the businessman and consumer who just wants to get phone calls no matter where: In the office, in a car, in a plane, playing golf, wherever. If the customer is on earth, MyLine will find him/her. Then there’s the Soccer/Sports Mom, totally mobile and often just as totally unreachable-except with our toll-free, 800 MyLine. And the military market, for both professional and personal use, is inviting. They demand mobile, reliable, and confidential communications–MyLine is ready and able to enlist.

The overall telecommunications market is huge, well over $200 billion. The personal communications and unified messaging sub-industry, with its hundreds of millions of actual/potential users, is difficult to quantify at this stage. Management estimates that projected sales of about $40 million in the third year, with sales running at the rate of $5 million per month by the end of that year, would still be only approximately a one percent market share. To become the market leader, a five to ten percent market share would probably be needed. Management plans to achieve this within five years.

1.1 Objectives

TeleSpace’s primary corporate objectives are:

• To become the market leader in personal communications and unified messaging products and services within five years.
• To become the lowest cost provider and drive an aggressive pricing model through the industry.
• To have the best and most responsive customer service by year-end Year 1.

1.2 Mission

MyLine is already the most technologically-superior personal communications system in the world. TeleSpace management will build on MyLine’s brand and technical reputation to become the market leader in personal and business communications, and unified messaging systems within five years.

1.3 Keys to Success

There are three keys to success for TeleSpace:

• Marketing must generate sufficient sales volume to drive an aggressive pricing model while still achieving planned profitability projections.
• Strategic partners must be found to private label MyLine and promote it through their distribution channels.
• Equity capital must be secured at a reasonable valuation.

Company Summary

TeleSpace, Inc. develops and markets programmable personal communications and unified messaging services for individuals and businesses. The company was incorporated in early Year 1, and operates as a wholly-owned subsidiary of AmericomUSA, Inc., a public reporting company. In response to overtures from AmericomUSA senior management, TeleSpace management has proposed a leveraged buyout of the company from Americom and has incorporated this proposal in a Letter of Intent (LOI) sent to Americom. A copy of this LOI is included in the plan appendix. Briefly, the proposal calls for TeleSpace management to purchase 81% of TeleSpace common stock from Americom, with an option to acquire an additional 10% within two years. Americom will deliver all rights and ownership of the MyLine technology and customer base and cease active association with the company. They will not be represented on the Board of Directors. Management expects this negotiation to be completed by the end of October, Year 1, when management will actively pursue equity capital to finalize the acquisition and fund corporate operations.

*Attachments are not included in this sample plan.

2.1 Company Ownership

TeleSpace, Inc. is a wholly-owned subsidiary of AmericomUSA, Inc., a public reporting company. Mr. Robert Cezar, Chief Executive Officer of AmericomUSA, Inc., owns approximately 58% of the common stock of AmericomUSA.

2.2 Start-up Summary

Start-up costs, shown below (exclusive of salaries), are comprised mostly of legal fees, marketing collateral, advertising, and consulting fees. Start-up costs are being financed by the parent company, AmericomUSA.

2.3 Company Locations and Facilities

TeleSpace corporate offices are located in Arroyo Grande, CA. Existing space of 900 square feet is adequate for existing staff, but new facilities have to be leased when sales representatives are hired.

Products and Services

TeleSpace, Inc. develops and markets programmable personal communications and unified messaging services for individuals and businesses. The MyLine system can best be described as a personal communications platform, a remotely programmable “telocation” service which allows the user to access MyLine services from any telephone device or personal computer anywhere in the world.

3.1 Product and Service Description

The MyLine system can best be described as a personal communications platform, a remotely programmable “telocation” service which allows the user to access MyLine services from any telephone device or personal computer anywhere in the world. MyLine is a virtual telephone number which allows the user to control inbound telephone, fax, and data calls and receive them anywhere, but only on demand. MyLine is the only telephone number users will ever need. They receive every telephone call, fax, or email sent to their MyLine number in real time or stored for later use. Or they can screen and elect not to receive any particular communication, delete or divert for later handling. MyLine includes a proprietary security system to prevent unauthorized access and has real-time billing and accounting capabilities. The latter can generate, using a telephone or personal computer, comprehensive billing records by project and/or general ledger account.

3.2 Sales Literature

Initial radio and Internet ads and sales collateral will be developed by the company’s marketing, advertising, and public relations agency in Silicon Valley. This is a well-known firm specializing in high-tech clients.

3.3 Competitive Comparison

In 1992, AT&T launched their Easy Reach service which, although simplistic in design and use, signified the need for a universal telocation virtual number and thus found immediate acceptance. MCI reacted by introducing its Personal 800 Follow Me Service. These services today require users to subscribe to their networks, lack a broad range of integrated services, and offer limited remote control capability.

There is one striking difference between MyLine and competing technologies: The competition has not integrated all means of communication. Some offer voice mail and follow me technology, others offer this, and other features, on a piece meal basis, not totally integrated. MyLine is the only totally integrated voice, fax, data, and email system on the market.

3.4 Fulfillment

The company now maintains its servers locally for supporting MyLine. As volume grows, management plans to co-locate at Above.Net’s facilities in San Jose, CA. A strategic marketing partner will also be sought, especially for the toll-free, 800 number.

3.5 Technology

The MyLine hardware platform is a state-of-the-art digital industry standard, and its design provides unique redundancy and flexibility. The MyLine system places the user on an electronic highway of digital call processing, operating on a Novell Local Area Network (LAN), integrating computer and telephone information into computer telephony technology. The LAN is connected to the Public Switch Network with the capability of using the ISDN/DSL features provided by the long distance carriers.

MyLine users have a personal communications exchange as a zero-blocking private global network providing voice, fax, and data transfer between themselves and any other MyLine or non-MyLine user. MyLine overlays and utilizes the Public Switched Telephone Network (PSTN) or the Public Switched Data Network, providing access to anyone with a MyLine number. The network routes all incoming and outgoing requests and data to a central hub for distribution to external routers, the Internet if needed, or delivers the request directly to local destinations.

The MyLine switching center provides the telephonic connection to the PSTN, which the network utilizes as its gateway. The MyLine system utilizes a Novell Netware Global Messaging Service which operates on Novell Netware file servers, providing a standardized platform and format for global message distribution to other Novell Netware servers, compatible applications and Internet addresses. Thus, access to the MyLine system is virtually unlimited. All communications within the network are encrypted, either with public/private key algorithms or with the proprietary MyLine rotational encryption algorithms.

3.6 Future Products and Services

MyLine features can be summarized in the following categories. A comprehensive feature set is available upon request by potential investors.

• Call forwarding.
• Selective call screening.
• Automatic callback.
• Wake-up services.
• Conference calling.
• Call waiting.
• Call wonferencing (integrating call waiting and conferencing).
• Voice messaging.
• Real time billing/accounting.
• Information on demand.
• Number referral.
• Fax store and forward.

Market Analysis Summary

Dun and Bradstreet estimates that 1999 sales of the U.S. telecommunications market will be over $150 billion, of which the personal communications and unified messaging market is three percent, or $4 billion. If the company can achieve a one percent market share within three years, its sales would be $40 million in a market growing eight percent per year. These estimates are conservative, given the accelerating growth rate of telecommunications and unified messaging in particular. There is ample space for the company, and many competitors, in this huge and fast-growing marketplace.

4.1 Market Segmentation

TeleSpace has targeted five primary market segments:

• General consumer and business market.
• Sports Mom toll-free.
• Domestic Traveler/Calling Card.
• International Traveler.

4.2 Target Market Segment Strategy

The company will market its products to customer segments that require the basic mobile telecommunication services (such as voice messaging, fax, and email) in a single solution. Other features will be specific to each customer segment. The company will spend substantial marketing efforts in determining which set of features are the most attractive to each customer segment. Offering customized quality product to each customer segment at a competitive price level will be one of the marketing goals of TeleSpace.

4.2.1 Market Needs

All customer segments that we target seek reliable communications that are easy to use. However, feature preferences vary in between the segments. ‘Soccer moms’ that spend so much time driving their kids around are in need of an ‘always on’ accessibility. A permanent 800 number is what they covet. Business travelers, on the other hand, have a strong need for a universal communications portal that will take care of all their communication needs. In this respect, TeleSpace will specifically tailor its market offering to each customer segment.

4.3 Service Business Analysis

TeleSpace is part of the telecommunications industry, including the following sub-industries:

• National and international carriers (AT&T) which dominate the long distance market and offer unified messaging system (UMS) to their customers.
• Regional operating companies (Pacific Bell, GTE) which provide local service and switch long distance traffic to the carriers and CLECs. They also offer UMS to their customers.
• Competitive local exchange carriers (CLECs) provide both local and long distance service and market UMS to their customers.
• Resellers aggregate traffic and provide discount long distance service and UMS to their customers.
• Unified messaging and personal communications service providers with in-house switching capability, such as TeleSpace, that offer MyLine and similar services to all consumers and businesses.

4.3.1 Business Participants

The personal telecommunications and unified messaging system sub-industry of the overall telecommunications market is a new, technology-driven, and immature industry characterized by a high growth rate, low barriers to entry, several large, and many small, competitors. The industry evolved during the last ten years as a spin-off the the telecommunications de-regulation, and subsequent explosion in competition and technological innovation. Overall industry sales should continue to accelerate for at least the next three years as consumers learn they can have their own unique local and 800 phone numbers for anyone to find them anytime, anywhere. Several industry leaders have emerged including:

• AT&T: The overall industry leader is expanding both vertically and horizontally into new markets and technologies and will probably have an impressive UMS.
• Excel Communications, Inc. is a wholly-owned subsidiary of Teleglobe, Inc., a large public telecommunications company. Excel is aggressively marketing its UMS.
• Linx Communications, Inc.is a leading national communications service provider which recently received venture capital financing. See Competitors, Section 4.3.3.
• Nextel Communications, Inc. is a large public company providing digital and analog wireless communications services throughout the U. S. See Competitors, Section 4.3.3.
• Sprint PCS offers a wide variety of UMS services marketed primarily to its long distance customers.
• Voice Mobility, Inc. is a public company offering UMS for CLECs, wireless and other communication providers. They offer a MyLine clone to providers who re-market to their consumers.

There are numerous small competitors, the primary of which are described in the competitor section.

4.3.2 Competition and Buying Patterns

The primary buying factors in personal telecommunication systems are price, accessibility, and ease of use. There is significant brand loyalty based on the company’s experience with its current customer base. Once an individual has acclimated to the MyLine system and memorized the access routine, he tends to be reluctant to switch to another service. Very much the same attitude prevails in consumer long distance, where demonstrable savings fail to sway a large segment of the population to switch carriers. AT&T still has over 60% of the market even though they are the highest cost carrier in a commodity business. Powerful branding and advertising, even with premium pricing, will create a significant barrier to competitors taking our customers. Being the market leader, like AT&T, will strengthen the company’s branding position and also make it more difficult for the competition.

Management feels the primary competition will be other well-branded companies like Nextel and Linx Communications, which have deep advertising pockets, feature-rich and competitive services, and an established brand. All the major telecommunications companies, including the Baby Bells, are moving into UMS because they have the infrastructure to support it and the brand to promote it. They will have the initial advantage in branding and marketing muscle, but their services to date are inferior. The marketplace is big enough to support all this competition and then some.

4.3.3 Main Competitors

Our main competitors include both telecommunications and unified messaging companies, most of whom have deep financial pockets, and all of whom appear to be competent at packaging and marketing their products. They are shown below with brief descriptions of the company and product(s):

• Webley Systems offers a UMS called the personal assistant, which Small Business Computing and Communications Magazine has rated the most sophisticated product they have rated. The personal assistant provides subscribers with a phone number where you can leave faxes and voice messages. Messages may be accessed either through a password-protected website or by phone, where you can listen to voice mail or have email or fax headers read. It also supports fax forwarding and broadcasting and offers an effective voice recognition engine to navigate through menu choices. The assistant will notify you by pager when new messages arrive and can also screen and selectively forward calls to any phone number you designate. You can also load your contact list into the assistant and have it place calls for you while on the road, including conference calls. However, the assistant only supports one email account at a time.
• StarTouch International, Ltd. entered the UMS arena in July, 1996 with its Electronic Secretarial Administrator (ESA). ESA offers a switch-based service including call answering, forwarding, voice mail, fax, broadcasting, and conference calling. The company claims to be debt-free and to own their own switch. Overall, ESA is impressive and competitive, though sign-up is difficult and rates confusing.
• Nextel Communications, Inc. is a large public company offering a digital, nationwide service competing with other cellular service providers such as GTE, Cellular One and AT&T. Nextel operates on radio taxi frequencies, and their system is based on radio “walkie talkie” style communications for short-range communications. The service is thus tied to the range of their wireless transmission system. Within that range they do offer many features including caller ID, paging, voice mail, call waiting and forwarding, and conference calling. Nextel offers a national system within their transmission range with unlimited long distance. For example, a national account with 1,000 minutes costs $135/month with an additional $.10 per minute for call forwarding.
• Linx Communications, Inc. offers a Web-based unified communications platform called LinxWeb, a personal Web portal that manages personal daily communications including phone calls from any landline or mobile phone, messages, pages, and faxes. LinxWeb is very similar to MyLine. Linx has teamed with Focal Communications to co-locate their switches in Focal facilities across the U.S.
• JFAX.COM unified messaging provides a single phone number in one of 60 cities world-wide allowing faxes, emails, and phone calls to be managed via your email account. The system is accessible via phone but best accessed through computer.

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How to write a communication plan (with template and examples)

Communication is one of the product manager’s primary responsibilities. After all, a PM can’t do their job without effectively communicating risks, dependencies, and changes.

In small companies, communication is somewhat more intuitive and often easier to manage. The problems begin to appear when the company grows.

A bigger company means more teams, more stakeholders, more initiatives, and more of everything. Beyond scale-ups, communication often becomes either too chaotic or too infrequent.

In cases like that, having a robust communication plan can be a life saver. In this guide, we’ll demonstrate how to write a communication plan in six easy steps. You can also use our free communication plan template , which contains both a blank spreadsheet for you to fill out and a practical example to help you get started.

What is a communication plan?

A communication plan is an inspectable artifact that describes what information must be communicated as well as to whom, by whom, when, where, and via what medium that information is to be communicated. In addition, a communication plan outlines how communications are tracked and analyzed.

A communication plan can take various forms. For example, it might take the form of a(n):

• Weekly checklist
• Spreadsheet
• Automated Trello board

In general, a communication plan should be whatever works for you and your team, as long as it allows you to inspect and adapt your approach to communicating with others.

Benefits of a communication plan

Investing time in creating and maintaining a communication plan brings many benefits. A communication plan serves as a(n):

Checklist and reminder

Inspectable artifact, alignment with stakeholders.

Who hasn’t forgotten to inform some critical stakeholder about a recent change/discovery?

Product management is such a fast-paced and dynamic profession that it’s very easy to let small details slip. Unfortunately, it’s these small details that often matter the most.

A written communication plan serves as a checklist that ensures minute details don’t slip too often. Whenever something relevant happens, you can easily refer to your communication plan to double-check whether you’ve connected with everyone who needs to be in the loop.

A tangible communication plan allows product managers to slow down, inspect, and adapt their current processes.

Whenever there’s a communication mishap, they can review what led to it and adjust their approach to communication. A concrete plan makes a vague and sometimes intimidating term such as “communication” more tangible.

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A communication plan, when done well, brings alignment and facilitates input from other stakeholders. It also lays out expectations of how communication is being handled and executed.

If stakeholders feel they aren’t getting all the relevant information, they can quickly check the communication plan to see what they are missing and what is lacking in the communication process that is causing them to miss that information. If they find the communication inadequate, they can share their feedback with the communication plan owner.

It’s easier to facilitate feedback and alignment when something is on paper.

How to create a communication plan in 6 steps

As mentioned above, there are various ways to create a communication plan.

A simple way to write a communication plan is to answer six questions:

• What type of information do you produce?
• Who should receive that information?
• How often should they receive it?
• What channels are most appropriate for this type of information?
• When is communication done for that type of information?
• Who should make sure it happens?

1. What type of information do you produce?

Start by reviewing what information you produce and process.

If you manage roadmaps , you probably produce a lot of information regarding roadmap changes, delays, and anything else that may relate to roadmaps.

If you manage releases, you also produce information regarding the release progress, stage, and anything else that related to releases.

Capture it all.

To make it easier, start with the broader, more general concepts. And if you notice the need for more precision, split them into more detailed communication positions.

2. Who should receive that information?

For a given type of information you produce or process, who should receive it? These are usually people who are:

• Direct stakeholders
• Dependent on the initiative
• Contributing to the initiative

Investing some time in defining the receipts has two main benefits.

First, it ensures you don’t miss a critical person in your communication flow, but it also helps you answer the question of who is not interested in certain information. Over-communication creates noise and should be avoided.

3. How often should they receive it?

You should identify the frequency of updates being sent out depending on the information being shared and which stakeholders are included. Should it be daily, weekly, biweekly, monthly?

You probably won’t nail it at first, but that’s OK. What’s important is to search for a sweet spot between over-communication and under-communication.

Although it might seem excessive at first, finding the right balance will be increasingly important as the amount of and need for communication grows over time.

4. What channels are most appropriate for this type of information?

What medium is most suitable for a given type of information?

For example, it would be silly to inform someone about a mission-critical dependency in a comment under a Jira ticket. At the same time, you shouldn’t spam other people’s Slack with every minor change.

Before sending out an update, ask yourself:

• Where would people seek such information?
• How fast should it reach the audience?
• How critical is it?
• Is it a one-sided update or a potential conversation starter?

The answers to these questions will help you find the best channel for the given information piece.

5. When is communication done for that type of information?

Many people fall into the concept trap that once you send out a message, your communication responsibility is over. This is not always the case.

If you send a company-wide FYI update, then yes, your job is probably completed when you press send, but what if you have roadmap changes that impact multiple teams. Shouldn’t you be making sure everyone on those teams are informed?

In cases like that, you can’t say you are done just because you’ve sent a message. You should chase all key stakeholders and ensure that they have read and understood your message to avoid any misconceptions.

Let’s face it: messages sometimes slip. Your job isn’t to send messages, but to ensure everyone is on the same page. It’s not the same thing.

I’m a fan of having a simple definition of done for communication items. Sometimes, it’ll just mean pushing an update. Other times, it might mean getting a signature of approval from another stakeholder.

6. Who should make it happens?

Last but not least, if it’s everyone’s responsibility to make sure communication happens, then it’s no one’s responsibility.

Although the whole team should be responsible for ensuring effective communication, I believe in having a dedicated owner for a given communication stream. The owner can be permanent or rotate every sprint.

If you have communication owners in place, the chance of communication actually taking place increases dramatically.

Communication plan example

Let’s take a look at an example of a communication plan created using the framework I just outlined:

This communication plan can now serve as an artifact for alignment, process improvement, and double-checking if everything is communicated as needed.

Since some of the items in the communication plan happen as needed, it’s imperative to review the artifact on a regular basis. Otherwise, details are bound to slip sooner or later.

Communication plan template

To make it easy to get started with creating your own communication plan, we’ve created a communication plan template for you. Click File > Make a copy to customize the template.

When you start, ask yourself:

• What you want to communicate
• By what channel
• When you consider the communication as done
• Who should own the given communication item

Although it may lack in the beginning, use it as an inspectable artifact to improve your communication approach every sprint. I promise you, it’ll make your job as a product manager significantly easier.

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Business Continuity Plan Template for Telecommunications

What is a Business Continuity Plan for Telecommunications?

A Business Continuity Plan for Telecommunications is a plan designed to ensure the resilience of communication networks, infrastructure, and services during emergencies or disruptions. It outlines strategies to reduce the risks of disruption, minimize downtime, and establish backup services for when disruptions occur. The plan should be tailored to the specific needs and requirements of a telecommunications company or service provider.

What's included in this Business Continuity Plan for Telecommunications template?

• 3 focus areas
• 6 objectives

Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.

Who is the Business Continuity Plan for Telecommunications template for?

The Business Continuity Plan for Telecommunications template is specifically designed for telecommunications companies and service providers. It provides them with a comprehensive framework to create their own business continuity plans. The template outlines the focus areas, objectives, actions, and measurable targets needed to ensure the resilience of communication networks, infrastructure, and services during emergencies or disruptions.

1. Define clear examples of your focus areas

Focus areas are the primary areas of concern that need to be addressed in the plan. For example, when creating a business continuity plan for telecommunications, the focus areas may include ensuring the resilience of communications infrastructure, network services, and telecommunications services. For each focus area, objectives, actions, and measurable targets must be defined.

2. Think about the objectives that could fall under that focus area

Objectives are the desired outcomes that must be achieved in order to reach the focus area goal. For example, an objective under the focus area of “Ensure Resilience of Communications Infrastructure” could be “Develop and Implement a Disaster Recovery Plan”.

3. Set measurable targets (KPIs) to tackle the objective

KPIs (Key Performance Indicators) are measurable targets that can be used to measure the progress of an objective. For example, when developing and implementing a disaster recovery plan, the KPI could be “Reduce downtime during emergency events” with an initial value of 72 hours and a target value of 24 hours.

4. Implement related projects to achieve the KPIs

Projects (also known as actions) are the steps needed to achieve the KPIs. For example, when developing and implementing a disaster recovery plan, the project could be “Research, Design, and Develop a Disaster Recovery Plan.”

5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy

Cascade is a strategy execution platform that helps organizations and teams track their progress and results as they work towards their objectives. With Cascade, teams can easily manage their business continuity plan, track progress, and see faster results from their strategy.

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Get the most out of your business plan example

Follow these tips to quickly develop a working business plan from this sample.

1. Don't worry about finding an exact match

We have over 550 sample business plan templates . So, make sure the plan is a close match, but don't get hung up on the details.

Your business is unique and will differ from any example or template you come across. So, use this example as a starting point and customize it to your needs.

2. Remember it's just an example

Our sample business plans are examples of what one business owner did. That doesn't make them perfect or require you to cram your business idea to fit the plan structure.

Use the information, financials, and formatting for inspiration. It will speed up and guide the plan writing process.

3. Know why you're writing a business plan

To create a plan that fits your needs , you need to know what you intend to do with it.

Are you planning to use your plan to apply for a loan or pitch to investors? Then it's worth following the format from your chosen sample plan to ensure you cover all necessary information.

But, if you don't plan to share your plan with anyone outside of your business—you likely don't need everything.

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10 Qualities of a Good Business Plan

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NASA is asking for help to retrieve Mars samples that could be the first evidence of alien life

• NASA's Perseverance Mars rover is collecting samples that could be evidence of ancient alien life.
• But NASA's Mars Sample Return mission to bring them to Earth will now cost $11 billion and take two decades.
• NASA is scrapping that plan now and asking companies for a better idea.

NASA bit off more than it could chew when it sent the Perseverance rover to Mars to collect samples.

The $2.4 billion mission landed the rover in Jezero Crater , the site of an ancient lake. It's the ideal spot to search for the fossils of Martian microbes that may have existed when the planet was lush with lakes and rivers.

Perseverance's main mission is to collect samples of the rock and sediment along the lake bed and the crater rim, in hopes of finding a sign that life once thrived on the red planet. The rover has done a fine job — so far it's secured 24 samples — but NASA no longer knows how it's going to bring them to Earth for analysis.

NASA's original design for the retrieval mission, called Mars Sample Return, has fallen apart. The agency is asking companies to step in and propose better ideas.

"We are looking at out-of-the-box possibilities that could return the samples earlier and at a lower cost," Nicola Fox, head of NASA's Science Mission Directorate, said in a press briefing on Monday. "This is definitely a very ambitious goal. We're going to need to go after some very innovative new possibilities for design, and certainly leave no stone unturned."

NASA's old plan costs $11 billion and takes too long

NASA's original proposal for the Mars Sample Return is "mind-bendingly complicated," David Parker, director of space exploration at the European Space Agency, said in 2021.

The idea was to launch two rockets toward Mars, one carrying a lander and one carrying an orbiter.

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The lander would be the largest ever sent to Mars. It would touch down near the stash of samples that Perseverance set up, deploy a rover to fetch the sample tubes, and load them onto a small rocket attached to the lander.

Then the rocket would launch the samples into Mars orbit, where it would eject them toward the orbiter, which would be the largest spacecraft NASA ever sent to Mars.

The orbiter would have to grab the samples, journey back to Earth , and drop the sample vessel on a fiery plummet to our planet's surface, where a team would retrieve them.

The mission plan relied about $4 billion in new technology and a decade of mission design and construction.

But the projected cost has ballooned to $8 to $11 billion since Perseverance touched down at Jezero Crater. Independent reviews have also concluded that instead of one decade to bring the samples to Earth, it would take two.

"The bottom line is that $11 billion is too expensive, and not returning samples until 2040 is unacceptably too long," NASA Administrator Bill Nelson said in the briefing. "It's the decade of the 2040s that we're going to be landing astronauts on Mars."

At the current price tag, Mars Sample Return would "cannibalize" other NASA missions, Nelson said. So the agency is calling all hands on deck, inside and outside of NASA, to come up with a new plan.

NASA wants companies with 'tried-and-true' technology

Fox said that NASA needs to see short proposals from companies or laboratories by May 17. Then the agency will choose a few of those competitors to further develop their ideas over a 90-day period, with complete proposals on NASA's desk by late fall or early winter.

Some of NASA's most tried-and-true contractors include Lockheed Martin, Northrop Grumman, Boeing, and SpaceX. Startups like Astrobotic and Intuitive Machines are getting their foot in the NASA door through the agency's new moon program.

"What we're hoping is that we will be able to get back to some more traditional tried-and-true architectures," Fox said. "Anything requiring huge leaps in technology usually, from experience, takes a lot of time."

As for the return trip from Mars to Earth , that will be a technological leap no matter what.

"We've never launched from another planet, and that's actually what makes Mars Sample Return such a challenging and interesting mission because it really is the first of a kind," Fox said.

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