Business description toolbox

The aim of this business description toolbox is to provide you with resources to help you adequately address the "business description" section of your business plan. Included in the toolbox are two worksheets on creating a mission statement and pricing a service business, as well as two samples on mission statements and product descriptions. The toolbox also includes glossaries on determining product prices and how to research your industry and competition.

Worksheets *

• How to come up with a mission statement: Creating an effective mission statement is not easy. The worksheet (also available as a pdf) should help you through the process. 
• Pricing a service business: Service businesses need to determine their rate for "billable hours." This worksheet (also available as a pdf) will help you price your service business.

Samples

• Sample mission statements: Analyse these sample mission statements, see if you understand the purpose of each business, and identify their target customer.
• Sample product description: No Place Like Home Page: Even service companies need to create a product description. See how No Place Like Home Page, a temporary personnel agency, does it.

Glossaries

• Methods for determining price: A glossary of the different methods small businesses use to come up with prices that can generate profits.
• How to research your industry and the competition: Tips, hints, and sources for tracking down up-to-date, reliable information about your market, your industry, and your competitors.

*Note on downloading: Worksheets are RTF (Rich Text Format) files which are compatible with most word processing programs. PDF (Portable Document File) versions are also available. PDF documents can be viewed using Adobe Acrobat Reader software, which can be downloaded from the Adobe site.