Business Plan Activities

Be specific in showing how you will give your business a competitive edge.For example, your business will be better because you will supply a full line of products; competitor A doesn't have a full line. Competitor C has the reputation for selling the best French fries in town; you're going to sell the best Thousand Island dressing.

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The business description can be a few paragraphs in length to a few pages, depending on the complexity of your plan.

If your plan isn't too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in three or four paragraphs that will end the statement.

While you may need to have a lengthy business description in some cases, it's our opinion that a short statement conveys the required information in a much more effective manner.

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.


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