Entrepreneurship / Small Business

How to Write a Great Business Plan

I. The Industry the Company, and its Products

The purpose of this section is to assist you in describing your business venture in a detailed but succinct manner. You must clearly present the business you are in, the product you will offer, and the nature of your industry.

A. THE INDUSTRY Present the current status and prospects for the industry in which the business will operate. Discuss new products and developments, new markets and customers, and any other trends that could affect the business. Identify all sources of information used to describe these trends.

B. THE COMPANY Briefly describe what business area your company is in, or intends to enter, what products or services it will offer, and who are or will be its principal customers. Also discuss the ownership and legal form of the company. Consult your attorney for which form of corporation, partnership, or sole proprietorship is best for you.

C. THE PRODUCTS OR SERVICES Description: Describe in detail the products or services to be sold, as well as the application of your product or service. Emphasize any unique features of your product or service and highlight differences between what is currently on the market and what you will offer. Define the current state of development of the product or service; include a photograph, if applicable.

Proprietary Position: Describe patents, trade secrets, or other proprietary features. Discuss any head start that you might have that would enable you to achieve a favorable position in your industry.