The business plan boot camp will consist of eight parts in total, each tackling a portion of the plan and the basics of how to handle its successful creation as prospective businesses look to secure funding and backing. Put together, these skills will help create a business plan that will wow potential investors
Part 2. Company Description
In the Company Description section of your business plan, you’ll be writing a review of a variety of elements unique to your business. In this section, you want to help your investors understand the mission and value-add of your business to the market.
The company description seeks to answer two fundamental questions in a high level format and give an overview of what your company is all about. It is not overly technical, but care should be taken to do it right.
First the questions you’ll answer throughout the company description:
Does your business solve a real problem?
Can money be made from solving that problem?
Potential investors will look at the executive summary first, but the company description offers the opportunity to get across what your company is all about in a succinct, passionate manner. A less concise elevator pitch is the most easily relatable format. Here you explain the ins and outs of your company from the name and business structure to your mission and vision statements. There isn’t a set number of sections to incorporate, but you’ll want to include at least:
Company Name – The official name registered in your desired state
Structure of the Business – Sole proprietorship, LLC, partnership, or corp
The Owners and Management – Key figures
Intended Location – Headquarters
Business Objectives – Divided into both long and short term goals
Products, Services, and Marketplace – Who is your target market? What will you provide them?
Each part of the company description can be written out in paragraph form. As you describe each section, be sure to include the essence of your brand. This is not a table of contents, but rather a description of who your company is, what it is all about, and why it matters. The following tips will help you put together a description worth reading: