The company description section of a business plan is one of the most important sections. It is an opportunity to introduce your company to potential investors, lenders, and customers. A well-written company description will explain what your company does, why it is unique, and what its mission is.
Here are some of the key elements that you should include in your company description:
- Company name and legal structure: What is the name of your company, and what is its legal structure (e.g., sole proprietorship, partnership, corporation)?
- Products or services: What products or services does your company offer? Be sure to describe your products or services in a clear and concise way.
- Target market: Who are you selling to? What are their needs and wants?
- Competitive advantage: What makes your company different from and better than your competitors?
- Mission statement: What is your company’s mission? What are you trying to achieve?
In addition to these key elements, you may also want to include the following information in your company description:
- History: How did your company get started?
- Management team: Who are the key members of your management team? What is their experience and qualifications?
- Company culture: What is your company culture like? What are your values?
- Social responsibility: Does your company have any social responsibility initiatives?
- Future plans: What are your plans for the future?
Here is an example of a well-written company description:
Acme Corporation
Acme Corporation is a technology company that develops and sells innovative battery solutions. Our batteries are more powerful, longer-lasting, and more environmentally friendly than any other batteries on the market.
Our target market is businesses and consumers who need powerful and long-lasting batteries. This includes businesses in the electric vehicle, renewable energy, and consumer electronics industries.
Our competitive advantage is our proprietary battery technology. Our battery is more powerful, longer-lasting, and more environmentally friendly than any other battery on the market.
Our mission is to revolutionize the battery industry and to create a more sustainable future.
History
Acme Corporation was founded in 2023 by a team of experienced battery engineers. The company has grown rapidly since its inception, and it is now one of the leading developers of battery technology in the world.
Management Team
Acme Corporation’s management team consists of experienced battery engineers and business professionals. The team is led by CEO John Smith, who has over 20 years of experience in the battery industry.
Company Culture
Acme Corporation has a culture of innovation and collaboration. The company is committed to developing the most advanced battery technology on the market.
Social Responsibility
Acme Corporation is committed to social responsibility. The company is working to develop more sustainable battery solutions that will help to reduce our reliance on fossil fuels.
Future Plans
Acme Corporation plans to continue to develop innovative battery solutions. The company also plans to expand its global reach and to become the leading provider of battery solutions for businesses and consumers.
This company description is clear, concise, and informative. It includes all of the key elements that potential investors, lenders, and customers will be looking for. It also explains what the company does, why it is unique, and what its mission is in a clear and persuasive way.
When writing your company description, be sure to keep the following tips in mind:
- Be clear and concise. Your company description should be no more than two pages long.
- Be specific. Avoid using vague language or making general statements.
- Be honest and realistic. Don’t exaggerate your company’s strengths or downplay its weaknesses.
- Be persuasive. Your company description should convince potential investors, lenders, and customers that your company is a good investment.
By following these tips, you can write a company description that will help you to achieve your business goals.