How to Expertly Write the Company Description in Your Business Plan

Growthink.com Company Description in Your Business Plan

A key section of your business plan is the one in which you describe your company. This section comes second in your business plan, after the Executive Summary.

The Company Analysis section of your business plan has three main goals:

  1. to give a brief description and profile of your company
  2. to detail your past accomplishments
  3. to specify your unique qualifications.

Note that a detailed description of your products/services generally does not belong in your company section; rather that will go in the Products/Services section of your marketing plan.

Here’s what to include in your business plan company overview:

1. Company Profile

Start with a detailed profile of your company including your:

  • Date of formation
  • Legal structure (LLC vs. C-Corp., etc.)
  • Office location(s)
  • Business stage (start-up vs. undergoing R&D vs. serving customers, etc.)
  • Type of business: this is where you’ll give a general description of the type of business (e.g., restaurant, software, etc.) you operate

 

2. Past Accomplishments

Include a chart (or bullets) of your company’s past accomplishments, including descriptions and dates when:

  • Prior funding rounds were received
  • Products and services were launched
  • Revenue milestones were reached (e.g., date when sales surpassed the million dollar mark)
  • Key partnerships were executed
  • Key customer contracts were secured
  • Key employees were hired

This information is critical to investors as it indicates the company’s ability to execute upon a previous game plan. Attaining milestones is an excellent indicator for potential investors that their money will be used to create value and lead to a liquidity event.

 

3. Unique Qualifications

Finally, detail why your company is uniquely qualified to succeed.

This is often referred to as the company’s “unfair competitive advantage.”

This advantage could include one or more of the following:

  • a world-class management team
  • proprietary technology
  • proven operational systems
  • key partnerships
  • long-term contracts with major customers
  • other successes-to-date

To learn how to expertly complete the other sections of your business plan, reference our complete business plan template.

 

 

 

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