Business Planning: How To Write Your Company Description
Since it's best to hold off writing the Executive Summary until last, the first section of the business plan that you should write is the Company Description. Essentially, the company description serves as an overview of what your business does, where it’s located, how it’s structured, and any progress you’ve made to date. Since it can be difficult deciding where to start when writing the company description section of your business plan, it’s helpful to break it down into eight subsections. Breaking your company description into smaller sections helps keep your writing organized, which allows the reader to get a better overall sense of your business. Below is a general outline of how you can organize your company description. Company Description: Summary Paragraph The company description should start out with a summary paragraph that introduces the name of your business, its legal status, when and where it was formed, the owners/co-founders, and the industry or submarket that it’s competing in. Think of this introductory paragraph as a place to lay the groundwork for the more detailed descriptions that follow. If any of this introductory information is particularly important to your business, you should also explain that to your reader in the introductory paragraphs. Company Description: Mission Statement Once you’ve introduced the basics of your company, it’s time to start getting into what your company plans to do. A mission statement sums up the purpose of your company into one or two sentences that clearly state your business’ guiding principles. If you haven’t written your business’ mission statement yet, now is the time to do so. Company [...]