A business plan must include a company overview, also referred to as company information or a company summary. It provides a summary of the key facts about your business, including its background, management team, location, mission statement, and legal framework. In your business plan, it typically appears after the executive summary.
How to write a business overview
To begin creating a business overview for your business plan, follow these steps:
1. Start with your pitch
Your business overview’s opening line should act as a kind of elevator pitch for your organization, providing a succinct description of who you are and what you do. You can mention your company’s offerings and the target market you cater to in your pitch. Try to demonstrate what makes you different from other competitors.
2. Provide the basics
You frequently provide the most crucial company information after your pitch. These specifics give a broad overview of your company’s identity and contain information that could be important to stakeholders like potential investors. You can including the following:
3. Include unique details
In addition, you might want to include details about your company’s history and mission statement in your business overview. The company’s history can help define its culture and give the business overview some of its personality. For instance, you might have a special tale about how your company was founded or its development to this point. Or, if you’re trying to raise money, giving investors information about your company’s successful track record may help.
Next, you can include the mission statement for your business, which outlines its goals. Usually, this is a one- to two-sentence summary of the issue your business is attempting to address and the proposed solution. Consider your long-term objective or vision to make sure this assertion holds true over time.
4. Define what you offer
Next, describe in detail the goods and services you provide and the target market for them. People need to comprehend what you sell and why it matters if you want them to invest in your business. You can include any pertinent figures or quantifiable information, but keep in mind that these specifics are probably already covered in other sections of the business plan, like your market analysis.
5. Finish with your goals
Outline your objectives and how you intend to achieve them at the conclusion of your business overview. Depending on the stage your business is in, these objectives may change, such as if you’re trying to attract investors to launch your company. Additionally, you can specify your goals in terms of scale and growth.
Your vision statement, which offers a broad declaration of what you hope to accomplish as a business, can also be used to summarize this information. This declaration typically outlines your company’s ultimate objectives and serves to inspire and unify your staff. When describing your mission and future vision, you also want to make sure your enthusiasm comes across, as this will encourage your audience to keep reading.
6. Proofread your work
Make sure to proofread your overview to make sure it is error-free, as you should with every section of your business plan. A document without errors maintains your company’s reputation as a professional one and makes a good impression on internal and external stakeholders.
You should also review the overview to ensure conciseness. This section seeks to provide a summary of your business; elsewhere in the business plan, you will provide more specific information about your goals or target markets. Check the text to see if there is any unnecessary or redundant information. If you want an unbiased opinion on how well it flows or informs and interests the readers, you might ask someone who isn’t involved in the writing process to read it over.
What is a business overview?
A section of a business plan called the business overview gives a general description of your company. This section provides the reader with information about your business’s structure, values, mission, and products. Additionally, it can highlight how your business differs from rivals. This part of the business plan is referred to as a “company description” or “summary” in some cases. “.
Business overview examples
The examples below can assist you in writing a business overview:
Example 1
Lavoro Marketing develops and improves customer loyalty programs for national retail brands. To support our extensive presence and clients, this LLC has offices on the East and West coasts in addition to its headquarters in Chicago, Illinois. Hugo Pazzo, an industry veteran with more than 30 years of experience, founded the business five years ago. He understood that loyalty programs were a creative way to draw in and keep a loyal customer base. He made the decision to launch Lavoro Marketing in order to concentrate on this idea and create special software that will assist organizations in better managing customers and their data.
Lavoro Marketing’s growth over the previous three years has been 150%. We credit our dedication to finding new customers and markets for that growth, and we aim to double it within the next two years. We are currently looking for a $60,000 investment to expand our team across the United States and scale our business. Additionally, we want to use those funds to continue innovating our software so that we can give our users engaging and rewarding experiences.
Example 2
Bailey Body Care offers reasonably priced, organic skin and body care products to help its customers feel their best. Beatrix Bailey, a sole proprietor in Atlanta, Georgia, is the owner and operator of this new company. Beatrix started the company two years ago after realizing that none of the body care products on the market met her needs, and those that did had exorbitant prices. She then started looking into the best natural ingredients to use in a body lotion to make her glow. She started out by selling her goods at neighborhood markets and sold out every appearance.
Beatrix wants to grow the company now that it has found local success, including a storefront in downtown Atlanta. Bailey Body Care hopes that everyone will be able to afford to treat themselves to some self-care in the future. By the end of the following year, the business intends to expand its clientele throughout the Southeast of the United States. To accomplish this, the company is fostering relationships with regional establishments and hotel chains in order to sell Bailey Body Care products there.
What is a Company Overview Video?
FAQ
How do you write a business overview?
- Basic company information. Consider the company overview like an introduction for your business.
- Ownership and management team. …
- Company history. …
- Mission statement. …
- Product/service and customer. …
- Future goals. …
- Start with the elevator pitch. …
- Stick to the basics.
What does overview mean in business?
The company summary, also known as the company description or overview, is a high-level examination of who you are as a company and how all the components of the business fit together. It is included in a business plan.
What is overview in business proposal?
a synopsis of your company’s mission, services, products, market research, and analysis, marketing plan, operational plan, and financial plan. Business Description.
How long is a business overview?
These papers should make up less than 10% of your overall business plan and range in length from one to four pages, ideally under two. Key learning: In less than two pages, a strong executive summary conveys the essence of a business plan.
