Both of these fall under the market research category of your business plan.
Once you figure out who your competitors are, it will be easier to determine how your company will be different from them.
I’ll show you how to write different elements of your business plan and provide some helpful tips along the way. State what kinds of products or services you’ll be offering and in what industry. Be clear whether you’ll have a physical store, operate online, or both.
Is your company local, regional, national, or international?
Your company description can also incorporate your mission statement.
This is an opportunity for you to gain a better understanding of your startup.
Writing a formal plan increases your than those without a plan.
If you have an idea for a startup company but not sure how to get started with a business plan, I’ll help you out. Instead, identify who you are and when you plan on going into business.
Before you start seeking legal advice, renting office space, or forming an LLC, you need to put your thoughts on paper. You’ll also be able to share this plan with others to help you get valuable feedback.
I don’t recommend starting a company without consulting people first.