This course was created by EntrepreneurNOW. We are please to offer this training in our library.
- What to include and what to leave out
- Representing the management team and staff
- Funding stage, business model, and current status
- Personal, team, and company history
Skill Level Beginner
- Company overview is one of the more important sections that has to go in every business plan, you don't really get an option here, you need to include company overview in your business plan. So, investors invest in people, as much as they invest in a great idea. This is a really important thing for you to remember, because you've got to put your best foot forward, they have to understand who you are, who your management team is, who they're doing business with, that's what they're going to invest in, and they also invest in a great idea as well. In the company overview, this is your opportunity to really express yourself, tell a story, get personal, make it interesting, make it compelling, and so we're going to teach you how to do all of that. Also, this is a required part of the business plan, so we also have to talk about facts of the business as well, this is going to answer a lot of questions for the investor and we want to get this all in one area, and we call that the company overview. This is their opportunity to get to know you and the business. So here is the different sections that I like to look at when I'm formulating a company overview, and these are bits and pieces, you don't have to include every one of these, and we're going to go through each and every one of these in just a moment, you don't have to include all of them, but pick the ones that are most relevant for your business and I'll guide you through this entire process, this'll be very easy. So first of all, the summary of the business, they need to just know and understanding kind of where the business is, what's the current state of the business? The history, this is one of those optional areas, if you have a really compelling history, you might want to include it. The management team and the backgrounds of the management team, this is the most important section in the entire company overview section, this is what they're going to be looking at and really kind of studying over, do you have the right background, is the pedigree there, what's your education levels, we'll go through all of that. The location of the business, location or locations of the business, potentially you might have offshore and onshore, or what have you, it can be very important and they need to understand that. The structure of the business overall, is this a sole proprietorship, it is a partnership, it is a corporation, what kind of structure do you have? Then the timeline, what are the major milestones that you might have prelaunch, and, or, it's something that you might need to consider prelaunch and then postlaunch. Where is your business in that cycle, if you will. And then the funding strategy, and, or, your funding to date also needs to be covered in this section, they want to know that. Things I don't want you to cover in the company overview are things like business mission, that's covered somewhere else. Product and product information, going into a lot of depth about product, not the spot to do that, and competitive information, really again, that's another section of your business plan, doesn't need to be covered here as well.