The company overview is a small component of your business plan; therefore, let’s define it precisely, look at some sample company overviews, and discuss how to create your own.
What is a company overview?
A company summary informs the reader of your business plan about the fundamentals of your business, such as what you do, who your management team is, and what customers your business serves.
The company overview follows the executive summary as the second section of a business plan. Your business outline, like the executive summary, will be brief and concise. And if they only have a small amount of time, the reader needs to understand what your company does and who your customers are.
Why do I need a company overview?
If you want to cater to investors or prospective customers, you need to include enough information about your business for the reader to make an informed decision. They must first understand what your business does and who your customer is. Lenders, in particular, want a justification to continue reading, as they see hundreds of business plans on a daily basis. The company summary offers some answers—and it will assist you in developing a deeper understanding of your industry so that you can refine aspects such as your marketing strategy.
What should I include in a company overview?
Although the specific elements of your company overview can vary depending on the details of your organization, there are certain foundational elements that will be included in any company overview.
After you’ve covered the fundamentals, you can include any additional information that will assist a reader in making an informed decision about your company.
How to Write a Company Overview for a Business Plan
1. Basic company information
Consider the company summary to be the business’s introduction. You’ll want to include basic business details in the opening paragraph of your company summary. This contains the following:
Your company name: This should be the official name of your corporation, exactly as it appears on your state registration.
Your reader will want to know what kind of corporate entity your company is: sole proprietorship, limited liability company, partnership, or corporation.
Share the business’s headquarters and other sites.
2. Ownership and management team
Determine who owns the company and the extent to which each owner is involved. Who owns which shares in the company? If you have an active management team, you can also share their names and main positions with the organization.
3. Company history
The past of your company contributes to its uniqueness. Additionally, all startups have a tradition. Avoid over-emphasizing this segment, but do include some personality and interesting information, especially if they relate to your company culture.
4. Mission statement
If you don’t already have one, you can collaborate with your team to build one. Alternatively, you may actually substitute a problem statement for the mission statement. Your business idea should be motivated by a desire to alleviate a challenge or pain point for your customers. Share the nature of the issue and the steps taken by your company to resolve it. That, in a nutshell, is your mission statement.
5. Product/service and customer
The company overview should provide the reader with a high-level overview of your business, its products or services, and its customers. If they’re interested in learning more, they’ll contact you for a meeting or spend time reading the remainder of your business plan. Maintain an uncomplicated and straightforward approach here.
6. Future goals
The segment on potential business objectives should provide a concise overview of your business’s growth objectives. If the reader is interested in where you are now, they are also interested in where you want to go.
A business summary is made up of several small components. Each section provides your reader with additional information about your company.
Tips for writing a company overviewÂ
Although a company summary is simply the facts of your business written down, it may be difficult to write. Break it down into manageable steps and use these tips to assist you in putting together your business summary.
1. Start with the elevator pitch
If your company is already up and running, you almost certainly have an elevator pitch. Your executive summary should begin with your elevator pitch.
The first paragraph of your company summary should contain no more than a few sentences describing your business and its mission. The more concise and straightforward this is, the more likely your reader can comprehend and continue reading.
2. Stick to the basics
Your company summary should include only the most specific information about your business that the reader requires.
3. Be passionate
Your enthusiasm for your business will pique the reader’s interest and keep them engaged during your company overview and business plan.
4. Keep it succinct
It’s appropriate if the initial draft of your company outline is lengthy. Simply go through and edit it to make it shorter, deleting superfluous descriptions and terms as you go. Clear, succinct explanations are more likely to be read and to entice the reader to continue reading your business plan’s other pages.
5. Have structure
Your business plan should include chapters, one of which should be an overview of the organization. Then, by inserting sub-chapters, you can further break down the material for quick skimming and reading. You may indicate these content breaks with bold headers.
Although you can use bold headers to separate each section of the company summary, you can also interweave some detail, such as the company structure and leadership structure. Each section should contain no more than a few sentences.
6. Write it later
If you’re having difficulty writing your business outline, return to it. Complete the remainder of your business plan first, followed by your company summary.
Although this may sound counterintuitive, understanding what will be included in the remainder of the business plan enables you to zero in on the most critical information in the company overview and leave everything else out.
7. Get a test reader
If you’re having difficulty condensing your business description, hire a proofreader. Ideally, you’ll want to ask someone who is unfamiliar with your industry. They’ll assist you in determining if you’ve expressed your message clearly.
8. Proofread
If you are unable to speak with anyone, consider hiring a skilled proofreader. Paying for a few hours of their time can prove beneficial in the long run. Additionally, there are several inexpensive online resources, such as Grammarly, that can help ensure proper grammar and spelling.
Although reading a summary of a company overview will assist you in determining what to include, you can be at a loss for words. That is appropriate. Oftentimes, the easiest way to comprehend is to see an illustration.
If you’re not ready to invest in business planning software but would like some company overview examples to get you started, there are numerous resources online, such as the Small Business Administration and SCORE.
And, fortunately for you, many successful businesses make some version of their company summary public through their online company profile page. Although there are some variations on the company overview steps outlined above, you can take inspiration from the language and design used in the following company overview examples:
- Starbucks business details
- Puma’s corporate website
- About TaskRabbit page
- Peloton’s corporate website
- About Nestlé
If you’re still lost or want additional business overview examples, conduct a search on the websites of your favorite businesses. You might be shocked at what you discover—for example, the NestlĂ© page contains additional details about the company’s strategy and corporate principles.
The bottom line: Writing a company overview
A company overview’s objective is straightforward: inform the reader about your firm, your product or service, and your customer. Through breaking it down into stages, as we have done above, you can convey the essence of your company without being too verbose. Bear in mind to keep it short and succinct, using only necessary facts. Above all, do not be afraid to express your enthusiasm. You started your business for a reason—appropriate it’s to include the reason in your company outline.
See also: How to Login to Your Facebook Company Profile from Anywhere
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