Vision/Mission

Present Situation

[]            Describe the current condition of the business—a present-day "snapshot." If in the concept stage, tell what you are doing now to build the foundation of the business.

[]          Clearly describe the one current dominant driving force of your business:

            Product/service offered?

            Satisfying a market need?

            Manufacturing?

            Profit and income?

            Technology?

            Client/customer base?

[]          Briefly take stock of your present situation regarding all of the following areas—just one page or two should be sufficient.

Company

[Company] was founded in 19[xx] and is presently in its [start-up/R&D/growth] stage. [Company] can best be described as currently being in the business of [x]. In recent times our key strengths have been [customer service/state-of-the-art technology/strong management team/innovative marketing].

[]          Take a couple of lines to elaborate on this description if you feel it is necessary.

Management

Most of our management team is in place, however, we require a [Finance/Production/Marketing] manager to complete our team by [x], 19[xx]. Also, we are currently hiring [x] employees to [x] [job titles to fill].

Products and Services

At present our [product] is in the [design/early development/test market/mature] stage. Our current product line/service is in need of [needs extension/reorganization/upgrade/paring down].

Market Environment

The marketplace is undergoing rapid changes/has been stagnant for [x] years. We are now poised to [x].

[]          Time factors influencing your ability to make money with current products.

Pricing and Profitability

Current prices are [holding/eroding/increasing] and profits are

[holding/eroding/increasing].

Customers

Current customers are using our [x] for [x] [uses]. They are requesting that we [make improvements/introduce a new model].

Distribution

We have [x] service centers, retailers, manufacturer's representatives, sales people working out of [x] offices, territories in [x] states, countries.

Financial Status

[]            Summary data from your financial statements should be plugged in below. Please refer to the Financial Plan section.

Current cash available is $[x].

Our Current Ratio is: Assets/Liabilities = [x].

Our Quick Ratio is:

            (Cash and Equivalents + Accounts Receivable + Notes Receivable) divided by Total Current Liabilities = [x].

Vision and Mission

[]          Where do you want to go with the business? What do you want to be? What direction(s) will the company be taking?

[]          What do you want for yourselves (personally and financially) 5-10 years from now?

[]          Clearly describe your future dominant driving force(s):

            Product/service offered?

            Satisfying a market need?

            Manufacturing?

            Profit and income?

            Technology?

            Client/customer base?

[]          Be creative here, yet your description believable, understandable, motivating and achievable.

Vision

By 19[xx] [Company] will be a highly visible company known as the best [x] in the [x] industry. We will have developed [x] and marketed these products in the [x] channels, becoming a/the leader in [x]. Sales will exceed $[x] and [Company] will actively be promoting [x].

[]          Show how your company will fit you, your staff and your industry.

[]          You and your staff may want to write both your Vision and Mission Statement completely from scratch. They should capture the spirit and uniqueness of your business.

Mission Statement

In order to achieve our Vision, [Company] commits to the following:

[Company]'s Mission is to provide innovative, practical and top-quality products that [save time and improve the way people do] [x]. We believe our first responsibility is to the [x] who use our products and services. Our strong financial position will enable us to [x]. In carrying out our day-to- day business we strive to:

1.         Treat our employees with [x].

2.         Follow the philosophy that our customers are [x].

3.         Be considered as [x].

Through a long-term commitment to this mission, we will be known as a company that [x]. Our customers, vendors, and employees see [Company] as offering [x] [benefits, feelings, knowledge, results, etc.].

Goals

[]          If you are writing this business plan to assist your company with its ongoing operations, you should be thorough and list as many major goals as are necessary to address the requirements called out by your Vision and Mission Statement.

[]          If you are trying to obtain funding with this business plan, you may want to focus on the top two or three financial or business development goals that will need to be achieved through the additional funding. Delete the goals that you do not need.

[]          Primary goals can cover the following areas:

            Profits

            Products

            Quality

            Growth

            Fields of Interest

            Community

In order for [Company] to attain its vision in the manner described in our mission statement, the following primary strategic goals need to be achieved:

Corporate: By [x], 19[xx] [Company] will [Corporate goal(s)].

Products: By [x], 19[xx] [Company] will develop [Product-related goal(s)]. We expect to replace [competitive/existing products or services] by [x]% by 19[xx].

Market: By [x], 19[xx] [Company] will reach [Customer-related goal(s)]. We will have an active customer base of over [x]. To reach these customers we plan to add [x] (retailers, distributors, service centers) per month/year and we will have a total of [x] (retailers, distributors) by 19[xx]. We will expand our marketing efforts to the regions of [x] and generate additional revenue as high as [x]% more than current levels.

Sales: By [x], 19[xx] [Company] will [Sales-related goal(s)]. Our products will be prominently displayed in over [x] retail stores and influential establishments, with salespeople and consultants being knowledgeable and supportive of our products and company.

            For 19[xx] total sales will exceed $[x].

            For 19[xx] total sales will exceed $[x].

            For 19[xx] total sales will exceed $[x].

            For 19[xx] total sales will exceed $[x].

Operations: By [x], 19[xx] [Company] will produce [Operations/Production-related goal(s)]. Compared to past performance of [x] [product/service name, type] in the [x] industry we intend to [x].

[]          Match your performance expectations to industry conditions and/or explain how and why your operation will be different.

Finance: By [x], 19[xx] [Company] will [Finance-related goal(s)]. We will carefully evaluate and plan investments and budget expenses to generate a consistent [x]% pretax profit. Based on a [x]% market share for our [x] product by 19[xx], we estimate our return on investment to be [x]%.

[]          How much return will be generated and by when?

[]            Illustrate that you have planned for investors to receive their return on investment--go public in 5 years, be acquired in 4 years, dividends, etc.

[]          Based on intended activities, indicate how much the company will be worth in future years.

[]          If you have other significant company goals, list them.

[]          List other major goal(s) to include:

            1.            Understand customers, competition and industry

            2.            Product/service/channel/customer congruency

            3.            Product/service life cycles

            4.            Growth by fields of interest

            5.            Balance people/management/business goals

            6.            Transition from single-point to distributed management

            7.            Operate at 50 vs. 15 employees

            8.            Develop values and culture

            9.            Hire the best people

[]          Relate previous track record of managers to demonstrate feasibility of actually achieving your goals given the experience of the people involved.