erms and arrangements with them; you are selling a service: which services will be provided at the business location and which will be delivered "in the field".
Business Description
The business description is the "Business Vision" and includes: who the company is, what it will offer, what market needs it will address, and why the idea will work. A business without vision is a business that will not know what it is doing! The description should include:
) an overview of the industry the business will be in;
2) a description of the company;
) the company's positioning;
) descriptions of the company's products or services;
) the company's pricing strategy.
The Company Description
Begin with your mission statement - a one or two sentence description of the purpose of the business and to whom the product or service is targeted. It is vital that entrepreneurs know what business they are in. Not being clear in the mission statement indicates that one is not clear about the purpose of one's company. It can also indicate that a business is not prepared for the market. When the railroads failed to recognize that they were in the transportation industry, and not the "train" business, they lost out to trucking and airlines for market share. A business person should pay very close attention to this statement, as all else hinges on it. If during the building of the rest of the plan one discovers that the plan is not correlating to the mission statement, then the mission statement or the plan must be modified.the business. Give a brief history and include information like whether it is a corporation, a retail, or service business. Be complete as to ownership status, location of operations and other pertinent information.discussing the company's principals, one doesn't need to provide a complete resume. The resumes are included in another section. You can however point out interesting qualities of the principals. For example, if one of the owners of a research firm has been recognized for discoveries in his field and it relates to the business, then one may include a statement like "Biochemist John Blow, who discovered the X factor in 1994, will head up the research team ".
3. Market Analysis
3.1 Market research
Know your customer <# "justify"> 1. Which features will most appeal to consumers?
2. How are choices made between competing produc...
