Related: How to Start a Business With (Almost) No Money The business description usually begins with a short description of the industry.
When describing the industry, discuss the present outlook as well as future possibilities.
Therefore, a detailed explanation of how your business will bring its product or service to market is much more valuable in the analysis of a business than merely describing it.
We’ve all heard this acronym before: Keep it simple, stupid.
This is not to say you should not be articulate in your word choice or be afraid to elaborate on complex issues.
Rather, it is both a concept to keep in the forefront of your writing style and an easy-to-remember acronym for always stating a conclusion, and doing so as simply as possible.
If there is any tailoring needed for a specific audience, it should be done during your oral presentation of the plan.
Having said that, I feel it is important to know your audience and understand what they are looking for.
Do not misunderstand, these are important inclusions in your plan; however, during the early stages of drafting, it is important to create a broad vision that can be adapted once your specifics have been identified.
When writing a business plan, have an end goal in mind.