How to write an effective business overview for your business plan
Writing a detailed business overview is a significant part of chalking out an efficient business plan. While investors and other concerned parties might be interested in listening to your business ideas and several raw details, having an overview of your brand or company can have a little more impact.
A well-laid-out overview can present all details for your business, including its history, the business structure, goals achieved, future goals, and much more, which a traditional business plan wouldn't include. It might be a little overwhelming to know where to start to draft an effective Business Overview.
What to include in an effective Business Overview
To get started with writing an impactful business overview, start by exploring certain aspects of your desired/existing business:
- Basic Business Information - For starters, you can include some basic information about your brand. This can include basic details such as your registered company name, location(s) of operation, and the business structure/partnerships you have established.
- Teams and Partners - Elaborate further to write about the ownership, team members involved, management, and all other business partners. You can briefly record the names of those who hold key positions and the duties managed in their roles.
- Business History and Mission Statement - Any business overview must definitely include a brief history of the business – when it was conceived, the years of active operation, and diversifications and growth over the past years if any. You can follow this up with an impactful mission statement of the company's motto and central vision. If you don't already have one, create a unique mission statement that resonates with your brand.
- Target Customer Base and Services included - You will require some information and statistics regarding your company's current customer base and the expected customer base with your novel business ideas. Here you can mention the different services you include and those that you are likely to include in the brand's future iterations.
- Future Goals for the Business - For an investor, partner, or any other party involved, laying out the future goals clearly can efficiently consolidate your vision. Highlight your service goals and financial goals to get all concerned parties on the same page with your transparent and well-communicated vision.
Write a Comprehensive Business Overview
Once you have fundamental data for your brand and peripheral organizations in place, you can start drafting your business overview. If you can write an impactful overview, you need not even draft an elaborate business plan. You can write a quick one-page business plan for an urgent meeting with an investor or partner if you have a power-packed overview ready.
Having the information isn't sufficient for your overview to be effortlessly communicated. It has to be presented in a way that makes it easy for the reader while also conveying all significant points.
Stick to the structure
The first thing to remember is to have a robust structure. Do not write sentences haphazardly just to fill in all the data. The reader should be able to grasp the structure in one look. Perhaps you can create sections for relevant aspects and create an overview accordingly. Some typical sections in the structure can be:
- Registered details
- Business History
- Mission Statement
- Services and products
- Finance Goals
- Service Goals
- Future Scope
You can tweak these sections to fit the specific case of your business. This will help to draft an overview that is detailed and easy to read.
Pitch the past achievements
An overview allows you to talk about your brand on paper, giving you a great opportunity to pitch your past achievements. The tone of describing your victories shouldn't be pompous; subtly mentioning aspects you have successfully handled in the past does great for your credibility. Here you can highlight areas that you want to work on and have proved your mettle in.
Highlight the basics
The rest of your business plan is likely to contain other details more concerned with budgeting, resources, and other business factors. The overview is one place where you can clearly write down the basics. Whether it is a prime location that you operate from or a secure financial strategy that you have adopted over the years, highlight all the basics to speak volumes for your brand.
Show passion and interest
The tone of writing can make a world of difference for a perfectly pitched business overview. Keeping it too formal can be monotonous, while a flashy representation can be distracting. It is best to highlight information subtly and matter-of-factly while showing your passion and true interest in the fields of work. These are the qualities when conveyed, will reflect in the form of conversions and profitable partnerships.
Take your team's input to improve the draft
Typically, different team members are likely to know more about certain aspects better than others. Take their valuable input in drafting a business overview that can accurately reflect your business ideals and strong features.
Your team can further assist you while writing the detailed business plan with marketing, management, and finance, operations, market, and customer analysis, as per their areas of expertise. Using Upmetrics software, you can draft a business plan quickly and easily. Read more on how to write a business plan.
Keep it concise
Last but not least, keep it short and sweet. With presenting your plan and overview to several parties, chances are they might not have the time to go through each overview line by line. Keep yours concise to convey the relevant points easily and then drawing their attention to your vision at large.
Example text of the business overview
Crafty Cones Ltd. holds the central objective of retailing novelty ice cream cones. With our prior experience in the food industry with Dough’s Pizzeria, our three-year-old venture; our mission is to expand our customer base in the confections industry and bring top-quality delicacies to our consumers. With our Ice Cream outlet, we wish to bring gourmet quality confections to the busy sectors in Houston.
Our team is structured to work at different target aspects separately, to then come together to deliver quality food to our customers. With communication and transparency at different tiers of our cooking, managerial, sales, and marketing teams, we hope to bring in a working mechanism where experts are working in tandem. Our teams will also include dedicated, customer support, photo, and documentation teams as well as a legal team to assist conflict management and run the outlet in alignment with State guidelines.
Crafty Cones stands out with gourmet quality ice cream cones that will be delivered at an affordable price for the every-day consumer. Our flavors are intended to be original and created from scratch with several flavor combinations in addition to those popularly cherished in ice cream parlors. Ours as a dessert line will stand out not only with the novel flavors incorporated but our cones will be “crafty” to be a unique selling point on their own. Our goal is to bring in fun flavors that are sophisticated and enjoyable for people of all age groups.
Financially, it is estimated that our venture is set to cost $$$ dollars for cooking and staffing, equipment, marketing, and other support avenues. Our staffing is estimated to be a total of 8 members including a managerial and head pastry chef post. The equipment for crafting cones and additional condiments as per our menu is estimated to require an investment of $$$.
We deem the support of our investors in the said financial aspects which amounts up to a total of $$$ dollars. Our experience with a prior food outlet resonates with our experience in the industry, and thus, all estimates are readily chalked to the practical requirements, all of which have been considered in our plan. We believe that Crafty Cones can have the potential to put gourmet pastry cooking on the map and aim to hone that sophistication along with the central goal of bringing quality food for our consumers.
Thus, a short and to-the-point business overview can play the twin role of presenting relevant information and establishing your company's credibility as a brand. You can tweak and update or overview as and when you grow and diversify into new lanes.
Draft a business overview to be ready to walk into any meeting where your brand can be represented accurately. With Upmetrics, you can quickly draft or update a plan, and bag that project or lock that investor down with impactful and concise documentation for any project!