In the first part of preparing your actual business plan we talked about the marketing section. This week we will go over Company Information.
As can you can tell from the title, this section of the business plan deals with your company and how it would be organized.
You will want to mention the type of business organization you have chosen and an explanation of why you choose that form of business. You will also want to include information about the people who will be running the business such as yourself including what you will bring to the table from abilities, knowledge and drive.
You will also want to make some comment on how all of these elements will work together to build a successful business. I have mentioned in the past how important mentors for you and would recommend mentioning that you do have mentors in your weak areas so that you can overcome those.
If your company is a corporation, have information about the board of directors and once again what they will bring to the table to make the business a success.
While this will not be a large section of the business plan, it is the section that you get to talk about what you bring to the table. This is not the time to be modest but on the other hand make sure that you are honest about your abilities. In fact, honesty in this point will gain you brownie points and gain more by saying that you have mentors in this area.
For more information see the Small Business Administration website.