Company Description Entrepreneurship Business Plan

Definition – Overall picture of your business plan A company description should include: Legal from of business Effective Date Mission/Vision Location Immediate Goals Government involvement Financial needs statement

Legal form of Business Sole Proprietorship Partnership Corporation Franchise Existing Business take over/buy

Effective Date When will you hire employees When will you buy inventory When will you start advertising When do you plan to Open your Business

Mission/Vision Statement Resource A mission statement should say who your company is, what you do, what you stand for and why you do it. An effective mission statement is best developed with input by all the members of an organization. The best mission statements tend to be 3-4 sentences long.

Mission/Vision Statement Avoid saying how great you are, what great quality and what great service you provide. Examine other company's mission statements, but make certain your statement is you and not some other company. That is why you should not copy a statement. Make sure you actually believe in your mission statement, if you don't, it's a lie, and your customers will soon realize it.

Company Location Where will your first location be? Why did you pick that location? What benefits are there to the location you choose? Do you plan to expand? If so when and where too?

Immediate Goals Use the concepts of Time and Money to develop goals. What do you need to do now to get started? How much money will it take to get started? What do you need to do for the next step?

Company Governance Resources What licenses do you need? Where do you get the licenses? How long does it take to get your licenses? How much does it cost to get your licenses?

Financial Status How much money will you need? Where will you get the money? What do you need to do to get the money?