Basic Business Plans: Company Description
Can You Define Your Company in One Sentence?
Things you'll learn:
- How a business plan can help you focus.
- How to describe your company to other people.
A Business Plan will guide you to focus your business, figure out how much money you need to be making, and keep you going when times get tough. We’ll take you through the process of writing yours.
Let’s start with a company description. As simple as this sounds, by coming up with your company description, you will have simple focus on what your business is going to do and what it will not do. Will you also provide delivery services? Will you provide labor for catering events? Or will you not do these things to be the best in your city at loading and unloading help?
All of this info is from the Small Business Administration, found at http://www.sba.gov/content/company-description
This section of your business plan provides a high-level review of the different elements of your business. This is akin to an extended elevator pitch and can help readers and potential investors quickly understand the goal of your business and its unique proposition.
What to Include in Your Company Description
- Describe the nature of your business and list the marketplace needs that you are trying to satisfy.
- Explain how your products and services meet these needs.
- List the specific consumers, organizations or businesses that your company serves or will serve.
- Explain the competitive advantages that you believe will make your business a success such as your location, expert personnel, efficient operations, or ability to bring value to your customers.