Company Description For A Business Plan

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Conclusion: In this section you have laid the foundation for what the company does and how it will create and transmit value to the client or customer.

The parts of the business plan that follow will add greater explanation to how this value creation is possible, will be carried out, and what the results of the venture will be.

A well-written business plan can help convince investors or lenders to finance your business.

After you complete the 11 worksheets, you will have a working business plan for your startup.

If your product involves patents or technical diagrams you may want to make reference to them in this section and append them to the end of the business plan.

If you process is complicated, this is where you can integrate diagrams, flow charts, or process matrices.The mission statement should be a concise statement of the company’s goals and the principles that will guide it’s growth.Many people see the business’ mission statement as more symbolic than practical.However, the mission statement can serve a very practical purpose in providing a path for a growing and evolving business.You may wish to expand this section further to include a business philosophy. If so, without incorporating the business’ philosophy directly into the planning documents it may become difficult to incorporate maintain those principles as the business grows and evolves.Imagine describing a stapler for the first time without first stating that you have created a revolutionary manner to clasp individual papers together without the use of bindings.You have to understand what it will do before you can go about describing the apparatus.Later, in a more detailed competitive analysis, you will address the major players and competitors who control parts of the market.The best way to understand where you are in your business is to compare it to where you want to be.Now you can tell about how the product you have designed or how the service you have developed is going to address the customer’s problems, needs, or wants.Start by giving a general description of the product or service and the individual components.

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