Business Plan Lesson 2: History and Position to Date
This is week two of our Ten Week Business Plan course. If you would like to get reminders about all ten weeks, simply sign up for our eCourse and get a free business plan outline at the same time!
Introduction to Your Plan – The History and Position to Date
This section introduces the reader to you and your company; it outlines the competitive environment and states how your business fits into the market. Why did you start the business? How did you arrive at your business idea? Why will your business be successful? What have you done so far?
Vision, Mission, Value and Goals
Vision - This is a long-term view of your business. It is an optimistic description of what your company will look like in three to five years.
Mission - Why do you exist? What business are you really in, and whom do you serve?
Values - In this age of corporate and political scandals, it is hard to believe values matter anymore — but they do! What are the lines you will not cross?
Goals - What are the short-term and long-term goals of your company? Your answers to this question are some of the most important in the entire plan. Goals must be specific and measurable, and may include: sales volume in dollars or units, number of customers, size of company, and number of employees.
Business Structure and Management Team
The balance of this section is dedicated to the people who make up the company. The purpose is to give the reader confidence that the leadership has the talent, background, and necessary skills to lead the business to success.
Product/Service Description
Use simple, jargon-free language that will give the reader a strong picture of what you do. If you must use technical terms, be sure to explain them.
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Your Assigment:
Start answering the questions in your outline. Share a piece of your company background, what you do or why you think your idea will work in the comment section below.
This is an example of how an IT service firm answered the question how did you arrive at your business idea? In one paragraph, the writer defines the expertise of the owner, the problem, and his target market.
Desktop computers, a rare item in offices 25 years ago, have become an integral part of every office today. As a technician and an IT manager, Ridgewalker Technology founder Richard rogers saw firsthand the challenges faced by owners and mangers of small firms as they tried to keep u p with the constantly evolving technology