Merge pull request #20 from CSchank/main

Add Business Plan Expectations.md

Author: smiths

docs/BusinessPlan/Expectations.md

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+Some software Capstone teams have continued to develop their projects after Capstone, and have even
+started businesses related to their Capstones. The business plan extra is for teams who wish to conceive of 
+ways to monetize their Capstone project after Capstone ends. A good business plan report should include
+the following, plus any other information the team feels is necessary. Marks will be based on the depth
+of critical thought and justification, plus evidence of research-backed values presented in the document.
+It is not necessary to gather primary information (i.e., your own surveys and focus groups), but all
+information and estimates should be based whenever possible on realistic values from other, properly-cited
+sources.
+
+* **Problem and market need:** Identifies target customer, the specific pain point your software addresses,
+  evidence of demand for the product, and why your solution is better than existing ones. For any unknown
+  pieces of market need, proposes surveys or focus groups that could be used to gather the missing
+  information.
+* **Market size and business model:** Defines the target market. Includes a research-based estimate of the size
+  of the addressable market of this product, with projections of the user base size for the first 5 years.
+  Describes and justifies revenue model (e.g. SaaS, freemium, etc), the rationale for your pricing, and
+  provides basic financial projections.
+* **Cost breakdown:** Includes a detailed breakdown of the initial investment needed to make the project
+  into a launchable product (the cost to take it from Capstone Rev1 to a full product). Detailed breakdown
+  of ongoing costs of running the service, including salaries to maintain the software, marketing/user
+  acquisition costs, ongoing service costs, and any other relevant costs. Identifies realistic uncertainty
+  and ranges of costs. States these costs as a proportion of the number of users to show how costs scale as
+  the user base grows. Includes projections of costs for several numbers of users spanning many orders of
+  magnitude.
+* **Competition and positioning:** Identifies both direct and indirect competitors, comparing your product
+  to those other ones on relevant dimensions chosen by the team. Identifies barriers to entry into this space.
+  Justifies the “moat” that your product will build to have an ongoing sustainable advantage.
+* **Execution plan and milestones:** Includes a detailed timeline of the work needed to launch the product.
+  Includes a clear phased approach with achievable milestones, with details for the time leading up to launch
+  as well as plans to continue to improve in the first five years after launch.