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Business plans can be as brief as a couple of pages or they can be as long as a short book, with extensive financials, forecasts and market research.The length and level of detail that you use for your business plan will depend on how much funding you require, and the time and resources you have available to devote towards creating a thorough and professional document.When you’re starting a business, your to-do list is a mile long and filled with more immediately rewarding tasks, like taking product photos, creating ad campaigns, and opening social media accounts.
This advice covers more than just the company description portion of your business plan, of course.
Make sure your business plan presents you in the best light, not just as far as content is concerned, but how it’s written, as well.
If you intend to present your business plan to investors or bankers, it's a good idea to use a template or software unless you have extensive experience writing business plans.
These tools will help you to cover all your bases and create a polished and professional document.
Now that you have some ideas of the substance, think about the style.
Some of what you’ll want to say about the company will be covered in other sections of the business plan, so keep this part more of an overview. When you share the story about why you started your company and what keeps you motivated, it helps you stand out from the crowd and gives your plan a personal touch.She does one-on-one mentoring and consulting focused on entrepreneurship and practical business skills.Think of the company description section of your business plan as a snapshot of who you are and what your company is all about. Are you a sole proprietorship, limited liability corporation, partnership or corporation? What makes them (or you) qualified to run your business? Start with an elevator pitch-a quick, few sentence description that captures all the important information about your company, along with your passion for what you’re doing.Your business plan should start with an executive summary explaining the purpose and structure of your company, and outlining what you intend your plan to achieve.You may be writing a business plan as an opportunity to examine operations and company culture, or you might prepare the document to present to a banker as part of a business proposal, with a sample letter requesting funding.Devra Gartenstein founded her first food business in 1987.In 2013 she transformed her most recent venture, a farmers market concession and catering company, into a worker-owned cooperative. Some specifics to include: The official legal name of your business. What inspired you to come up with the idea for your business? If you had just a few moments with a potential customer or investor, what would you tell them about your business? It doesn’t have to be lengthy, but it should be well-thought out to present you in the best light while being as accurate as possible. What are you making or selling, or what service are you providing? Who are the customers, organizations, or other businesses that your company will serve? What is it about you that will make your business a success? What would you like to accomplish in the immediate future, and what are your longer-term goals? Even though the purpose of the company description is to give basic information about your business, it’s an opportunity to promote yourself and explain why you’re worth loaning money to or being involved with.Get an editor that you trust to make sure you’ve kept a professional tone yet conveyed the essence of what differentiates your business from others. You may tackle the company description first when writing your plan, then find you cover a lot of the information in greater depth as you go along.Definitely plan to read and re-read what you’ve written, and cut out any unnecessary or duplicate information.