Summary of purpose
This section of your plan
will describe the purpose of your business. It should briefly describe
who, what, where, when, why and how. The plan should begin with your
statement of purpose and the mission of the business.
The mission is the very
foundation of the business. Your mission statement should a statement
of commitment and should express a reason for the business's existence.
Keep your mission statement brief (one paragraph) and to the point.
Basic elements to a mission statement include:
- Why does the organization
exist, what should be the end result?
Examples:
"To Improve the efficient of offices...."
"To ensure the future viability of the ...."
"To enhance the physical and mental health of..."
- For whom should this
end result occur?
Examples:
"To Improve the efficient of offices of small businesses"
"To ensure the future viability of the agricultural equipment industry
"To enhance the physical and mental health of our patients and their
families"
The simplest yet most effective
example of a mission statement was Walt Disney's. His mission statement
for the development of his theme parks was:
"To make people
happy"
In addition to the mission
statement, the summary section will provide an overview of your business.
- What are the products
and services offered?
- Who are the customers?
Where are they located?
- Where will the business
be located?
- Who is the competition?
What are their products and services?
- Why are you and others
in the business qualified to run the business?
- What do you plan to
achieve with the business? What are your goals and objectives?
- What do you project
to be the business's earnings?
If you are using your plan
as a tool to raise capital and to obtain financing, include:
- How much money will
you need? Why do you need it? Where will it be used?
- How and when you plan
to repay the loan?
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