General Company Description
This section is
an overview of your basic business.
It describes what
business you are in, what your business will do,
what are your goals for your business. This section
includes the following:
Mission Statement:
All companies should have a brief mission statement
explaining their reason for being and their guiding
principles. The mission statement is usually 30
words or fewer. If you want to draft a mission statement,
this is a good place to put it in the plan, followed
by:
Company Goals and
Objectives: Goals are your long range plan — where
you want your business to be. Objectives are the
steps you use to achieve your goals. For example,
a goal might be to have a healthy, successful company
that is a leader in customer service and that has
a loyal customer following. Objectives might be
annual sales targets and some specific measures
of customer satisfaction.
Business Philosophy:
What is most important to you in your business?
To whom will you
market your products? (This is just a brief overview
of your customer profile; you will expand further
on it in the Marketing Plan
section).
Describe your overall
industry. What changes do you anticipate in your
industry; both short term and long term changes?
Do you anticipate that this will be a growth industry?
How will your business take advantage of any changes
or growth within the industry?
Describe your business’
strengths and skills. What factors will help your
company succeed? What strengths or advantages do
you anticipate that your competition will have?
What skills do you personally have (experience,
strengths) that will affect the success of your
company?
Legal form of ownership:
Sole proprietor, Partnership, Corporation, Limited
liability corporation (LLC)? Why have you selected
this form?
Back to more Business
Plan for a Startup Business
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