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Writing a business plan may not always be the first step you take when forming your business, but it is a necessary step that you must take at some point.
The sooner you start working on your business plan, the sooner you will be able to organize all your ideas and begin looking for investors and funding.
It comes up when talking to financial advisors, legal teams, investors and clients.
Ask yourself a few simple questions to begin forming a clear vision of your business objectives.
It includes values and philosophies, as well as your strengths and resources.
Summarize by offering information about the strengths and resources you and any working partners bring to the business to help it succeed.
You want to be confident that anyone reading or hearing it will know what your business involves quickly and easily. Directly addressing the scope of what you can provide clients is key here.
It’s easy to feel intimidated when writing a description of a business plan. Determining who you and the name of your business is the first step to being clear about clientele demographics. This is also a good time to include a summary of at least one short-term goal and an overarching long-term goal. The answer is essentially your company’s mission statement.
The general company description in your business plan will contain some information that will also be included later in your marketing plan and the executive summary (the last section of a small business plan), but you still need to summarize information in the general description. If you are not going to include a mission statement, skip to the next item.
However, a mission statement can help you attract investors, donors, and others who may share your vision, so you should have a really good reason if you decide not to include your company's mission statement as part of the general description.