After you have completed the Market Analysis section of your plan, step three in the process is to complete your 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.
This section forms part three of the business plan. It should follow the executive summary, table of contents and market analysis sections.
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.
Next, you’ll need to move on to the Organization and Management section of your plan.
Related Resources
Why Your Business Needs an Elevator Pitch (and Tips on How to Target it to your Audience)
Stand Out from the Crowd - 7 Tips for Creating a Marketing Message that Sticks
Online Course: