Cyberspace has become one of the most complex and popular sectors in recent years. The sharp rise in cyber threats against government, business and private institutions has brought with it hundreds of different solutions that try to address the changing risks and challenges on a daily basis.
If you have an idea for a cyber product, you probably come from a rich technological background with experience in the field. This is in contrast to other ventures in which there is no need for the entrepreneur to come from the field itself (although it is recommended). In cyberspace the chances of success are relatively low without the relevant experience the entrepreneurs bring to the table.
Beyond the product and technological specifications in the business, the following points should be noted in the business plan:
Cyberspace is an expansive field that can be split into sub-categories. When describing the problem, cyber threats should not be viewed as a problem in general, but rather to specifically address the specific problem that the product solves. No product claims to stop cyber threats entirely, but rather it focuses on a particular niche.
For example, a product that prevents the theft of passwords; the problem that is illustrated is the quantity of passwords stolen each year and the damage caused from such theft.
As noted, the cyberspace domain is saturated with various solutions. Almost every threat has a solution. One of the more important issues to clarify in a business plan than any other issue is how our solution differs from other solutions. This difference should be described in several ways:
- Methodology – If we solve the problem differently from a methodological point of view, this should be noted and explained in depth
- Efficiency – if our product is more effective in terms of success or response time, it should be noted
- Vulnerabilities – If competitors have weaknesses that our product does not have, it should be noted at length. In addition to what that means in terms of the security of those vulnerabilities
- Strengths – What we do better than our competitors and how this is reflected?
If the product is B2B, please specify which audiences might be interested in the product. Are they banks and insurance companies or small to medium sized companies?
A B2C product is more challenging, since the private consumer does not know the threats in depth and sees no need to buy a solution to a problem they have not yet suffered. Therefore, it is necessary to specify why the private consumer will want the product and who is in the same demographic, geographic, and professional spheres, etc.
How TARGO can help
Our team has experience in the cyber field that has accumulated over the years, including working with veterans of elite technological units so that we can maximize the chances of raising investment and realizing the business potential of your venture. We base the process of building the program on a systematic methodology that has been successfully tested and implemented on many projects. We analyze the market and the business environment in such a way as to enable the entrepreneur to make informed decisions based on the information gathered. Based on the information and in full cooperation with the entrepreneur, we can build the business plan, so that it will be possible to move to immediate implementation according to defined milestones and goals.