What is a Business Overview?
Your business plan overview should be fairly easy. This is where you discuss the venture you plan on pursuing. This section covers the who, what, where and how in depth. Provide some background information on the state of the industry you plan to enter with information that reinforces why now is the time to enter your market. You will want to do a decent amount of research prior to writing this section, and it is recommended that this section be written after completing the industry analysis and marketing plan so that you are able to articulate specific details related to your industry.
You will also want to provide background information on yourself and/or partners that highlights your experience. Note that it's not necessary to write your whole resume in this section (but you can include your resume in the business plan Appendix, and refer to it). Potential investors will want to see that you, and your team, have the experience and skills necessary to successfully run your business. Point out professional successes and articulate responsibilities from a high-level; for example if you successfully managed a project to [fill in the blank], state what the budget was, how many people you oversaw, and if you came in under budget definitely state it.
If you have a mission statement or vision statement, put it in this section. Keep in mind that a mission statement is typically one sentence and it defines what your organization is all about. There is a lot of information out there on how to craft the perfect mission statement; you want it to be poignant. You will also want to provide basic information on who your customers will be and briefly explain how you plan to execute sales, as well as what differentiates you from competitors. It is important to communicate what will give you an edge over competitors to help you gain market share. When discussing your competitive advantage you will want to exercise your knowledge about the industry, marketing, and intangibles you may bring to the market. Examples of intangibles would be experience, atmosphere, something unique about your service.
Business Overview Example
SI Co recognizes the profound opportunities that exist as a result of our current social emphasis on environmentalism, and the movement to alternative energies. SI Co sees the numerous benefits and potential growth for converting household electrical demand from “the grid,” to self-sustainability. With the recent dramatic increase in household utility costs, the movement toward alternative energies, and with the legislative incentives to convert, SI Co seeks the first mover advantage to become the leader in the southern Illinois solar energy transition.
Our company seeks to set the standard and to lead the pack, with quality and a strong knowledge base as the foundation of our business. SI Co understands that potential consumers need to be better informed of the benefits of solar energy, so our initial effort will be to communicate the benefits of our product through several modes of communication. We are confident that by communicating the cost benefits of converting to solar energy, in conjunction with state and federal incentives, with the potential to sell unused electricity back to the grid, in addition to the environmental impact of self sustainability; many of our target market prospects will take advantage of this opportunity.
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