Your company description can also incorporate your mission statement.
This is an opportunity for you to gain a better understanding of your startup.
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.
For example, you may start by saying your target market lives in North America, and then narrow it down to the United States.
But as you continue going through your market research, you can get even more specific.
Your competitors will depend on your target market.
If you’re planning to sell jeans for , you won’t be competing with designer brands selling jeans for 0.
A reason for opening could be that you identified that no other restaurants in the area serve the cuisine you specialize in.
You can briefly discuss the vision and future of your startup company, but you don’t need to go into too much detail.