Writing the General Business Descriptions Section of
Your Business Action Plan
This is the second section to complete when creating a business plan. Defines your business. Your purpose. Make sure that you are very specific about what your business will doing.
General Business Descriptions
The General Business Descriptions section should include the following information: - Mission Statement. Usually less than 30 words. State why you are in business. What is your purpose. Include your philosophy for doing business. What is important to your business?
-
Goals and Objectives.
Goals are where you want your business to be. For example, being in the top 10% of your niche'. Objectives are a way of measure to determine if you reached your goal. If you want your sales goal in the next 6 months to reach $100,000.
Set daily, weekly, monthly, quarterly, semi annual, yearly goals. In this case, your daily goal would be $546. Weekly goal of $3,846. Monthly goal of $16,667. Quarterly goal of $50,000. Your annual goal would be $215,000. Be sure to keep your goals handy and review them frequently. Keep on target. You'll find you actually accomplish more. Keep you focused. - Define your market. Briefly state is your market. We'll get into a detailed
marketing plan
later.
- Describe your industry. Where do you see the growth potential for your industry? Do you see any possible changes? How will your business utilize those changes...
- Provide a list of the core strengths of your business. What factors will enable your business to succeed. What
Transferable Skills and Unique Qualities
will you bring to your business?
- Ownership. What
business entity
have you chosen? Sole Proprietorship. Partnership. Corporation. Limited Liability Corporation. State why it's the best business entity.
Moms Work From Home Tips
Your business plan should be user friendly and professional so that anyone can read and fully understand exactly what type of a business you are trying to establish.
The Next Step
You've completed the General Business Descriptions section. Now for the
Products and Services Section
...
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Business Descriptions
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Business Action Plan
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