A company overview needs to detail what the business is, which marketplace needs it is aiming to satisfy and how the products and services meet consumer needs. In addition, the report should include which consumers the business serves and what its competitive advantages are.
A good company description should include:
- What the nature of the business is and which marketplace needs it aims to fulfill.
- It should detail what the products or services are, and how they can satisfy consumer needs.
- The description should include which consumers or businesses it aims to serve.
- It should finish with a description that details the business' competitive advantages. This could mean delivering goods and services at a lower cost, unique aspects of the services offered or its efficiency in delivering products.
A good business description is usually concise. As well as detailing what the business does, it gives an overview of its future outlook. When making observations, base them on reliable data. This is especially important when writing a business plan that seeks funding, as it lets the investor know that the business' owners have researched the market. Descriptions should also include the business' legal status, such as whether it is a partnership or a sole proprietary operation. It is essential to make the business' unique selling point and profitability clear.