Answer the questions below:
What business will you be in? What will you do?
Mission Statement: Many companies have a brief mission statement, usually in 30words or fewer, explaining their reason for being and their guiding principles. If youwant to draft a mission statement, this is a good place to put it in the plan, followed by:
Company Goals and Objectives: Goals are destinations—where you want your businessto be. Objectives are progress markers along the way to goal achievement. For example,a goal might be to have a healthy, successful company that is a leader in customerservice and that has a loyal customer following. Objectives might be annual sales targetsand some specific measures of customer satisfaction.
Business Philosophy: What is important to you in business?To whom will you market your products? (State it briefly here—you will do a morethorough explanation in the Marketing Plan section).
Describe your industry. Is it a growth industry? What changes do you foresee in theindustry, short term and long term? How will your company be poised to takeadvantage of them?
Describe your most important company strengths and core competencies. What factorswill make the company succeed? What do you think your major competitive strengthswill be? What background experience, skills, and strengths do you personally bring tothis new venture?
Legal form of ownership: Sole proprietor, Partnership, Corporation, Limited liabilitycorporation (LLC)? Why have you selected this form?