3. The company

A. Vision

This describes the very long-range goals for the company—what it aspires to be in the future. It should describe how the company will be better in some measurable way than it is now, will serve customers in a significant way, and will provide a great working environment for all the employees.

B. Mission statement

This describes, in a sentence or two, why the company exists—what it does in order to reach its Vision. If the company executes on its mission over time, it will move closer to fulfilling its Vision. Ideally, the company always operates within its mission.

C. History

This section describes the history of the company, highlighting events that are important to understanding the firm today. The whole section can be done in a page or less, in most cases.

D. Current status

This describes the business today, including its products, services, markets, management, and structure. It describes the strengths and weaknesses of the organization, and it probably can be done in a couple of pages.

E. Competitive advantages and disadvantages

This section tells why the company is special. Think hard about this. It’s the description of why you’ll be successful in the future. Also, describe frankly the company’s weaknesses. Don’t kid yourself here.