The summary synthesizes all of that information into one page. The SBA provides examples of business plans for different types of companies, as well as a Business Plan Tool that guides you through each step of creating a plan.
Before you begin, you should decide whether you want to go with a traditional business plan format or a lean startup format.
It provides a structure for the company's pursuit of the winner's trophy.
Even though creating a business plan takes time, thought and effort, and may seem like an impediment to getting on with opening or growing your new business, it is imperative in today's competitive business climate for you to have all relative information available and evaluated before opening your doors.
You may also want to address any areas of perceived weakness by explaining how you'll overcome them or compensate.
For a startup business, creating a business plan is like creating a game plan in sports.
While some business plan proponents separate market and competition, it takes an examination of both, together, to come to one very important final conclusion: your market share.
Consequently, it is best to examine and present them together.5.
The company summary in a business plan—also known as the company description or overview—is a high-level look at what you are as a company and how all the elements of the business fit together.
An effective company summary should give readers, such as potential investors, a quick and easy way to understand your business, its products and services, its mission and goals, how it meets the needs of its target market, and how it stands out from competitors.