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What is your business legal structure? Sole proprietorship? Corporation? Partnership?
Once you have your mission statement, you can then discuss the more "technical" aspects of your company. Remember that you telling your company story, so even though there are specific areas you will need to cover, you will want to keep it lively and interesting. Some areas you should include are:
Many business plans make the mistake of basing their market observations on conjecture. Instead, you will want to research your industry and back up your observations with facts. Be sure to note all sources.
industry where you and other companies will compete.
When was the company founded? Is it a start up, or an established enterprise? What is the story behind the founding of the company?
This is not a discussion of your competition. That information will come later in the competitive analysis portion. Instead, you are providing an overview of the Air Jordan 10 Los Angeles Ocean Fog/Blue Lagoonmidnight Navy
Answering "why" makes any description stronger. Saying "the market will grow at 25% annually" may sound impressive.
What market needs will you meet? Whom will you sell to? How will your product(s) or service(s) be sold?
Trade associations are excellent sources of information about trends in your industry. To find the trade association for your industry, consult the Gale Encyclopedia of Business and Professional Associations.
Describe Your Company
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situation in the industry, as well as future possibilities. You should also provide information about the various market segments within the industry, with a particular focus on their potential impact on your business. Be sure to include any new products or other developments that will benefit or possibly hurt your business. Are there new markets and/or customers for your company/companies such as yours? What about national trends or economic trends and factors that will impact your venture?
Too many business owners make the mistake of operating without a vision; a situation which hampers their business ability to grow and prosper. A business owner without a vision will have difficulty describing his or her business and will provide a long, rambling description, a few stock phrases, or a collection of incomprehensible jargon when asked for one. A concise, easy to understand description of your company will not only help your business plan, but will benefit you in any number of other day to day situations from networking to making cold calls to approaching a newspaper for an interview. A typical business description section includes:
Picturing your company in words
The discussion of your company should begin with your mission statement a one or two sentence description of the purpose of your business and to whom your product or service is targeted. Not being clear in your mission statement indicates that you are not clear about the purpose of your company.
Discuss both the present Air Jordan Bred 13
Whether you looking for money or simply creating an internal document, you must be able to present a clear portrait of what your company does. Your business description is your corporate vision, and includes: who you are, what you will offer, what market needs you will address, and why your business idea is viable.
Don be afraid to include negative information about your industry. Discussing the possible roadblocks your company might face shows you have a realistic view of the market.
Begin your business description with a brief overview of the industry you will be competing in. Ultimately, you want to demonstrate that you are in a "hot" industry with an excellent long term outlook. You also setting the stage for your company description by showing where you fit in the marketplace.
the company principals and what pertinent experience do they bring?
What support systems will be utilized? Customer service? Advertising? Promotion?
Feel free to be dramatic. You can describe your industry like you telling a story. Grab the reader attention with strong, exciting language that will get them interested in your industry and your business.
Your company focus often depends on your market. A small town general store can sell groceries, hardware, newspapers, and gasoline because they may be the only store that sells those items in the area. A larger market would require greater specialization to set yourself apart from the competition.
What type of business is it? Wholesale? Retail? Manufacturing? Service?
If you cite information from specific newspaper or magazine articles or research reports, you might want to include a copy in your business plan appendix.
General business newspapers and magazines (like the Wall St. Journal or Business Week) and trade newspapers and magazines (those covering a specific industry) often report industry wide trends as well. Many research and university libraries carry various trade publications and newsletters. Look in Bacon Media Directories for lists Jordans Retro 13 Blue And White of publications, or use a database like Nexis to find references on specific subjects.
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