Your Business Strategy - Detailing Your Business Description
Do not assume that anybody who will be reading your Business Strategy knows anything about your business. You will need to consist of a quantity of particular pieces of information that will help the reader to understand exactly how you have set up the business.
In order to do this, include the following in your description:
1. The legal name of the business and type that it requires below the law. For example, is it a sole proprietorship, partnership or corporation. Also talk about specific divisions or departments that you have set up within the business.
2. Business ownership - Are there shareholders and if so, what percentage of the company do they control and how active are they in the operation of the business. You may also want to consist of a paragraph or two right here about the way that you involve other people in the business either via contracts or wages. Keep in mind to consist of your role and the way that decision-creating is done so that the business will flourish.
3. Place and facilities - Describe the address, size and expenses of the places where your business operates. Don't forget to include any storage facilities.
4. Historical information - Summarize the way that the company began and any significant milestones along the way. Talk about products and services that have been supplied in the previous as well as the staffing that was needed to this point in order to operate the business. If you do not have a history but are just beginning up a new business, include your plans and what you hope to provide the market once you are open for business. You can speak about successes that you have enjoyed as nicely as difficulties and how you managed to overcome them.
5. Business Summary - Use a couple of detailed sentences that will give a brief but clear overview of the business, clientele and reputation.
The description of your business should leave the reader with a clear understanding of precisely what you have set up and how you not only served others in the past but also how you strategy to continue, expand or change your business in the future, It is consequently essential that you use clear language and particulars that will paint a image in the thoughts of the reader while also inspiring that individual to want to know much more about your business simply because of the interest that they have developed throughout the reading.
