Service or Product Line: In this article, and generally for most of the audience here on Medium, we are concerned with software products.
Therefore this section will focus on how to communicate ‘service or product line’ in the context of software.
This is also great for uniting the team under one general purpose and recruiting.
Company Description: This should be about 2 paragraphs that further detail the problem, origin of the company, current progress, and general methodologies.
Once you establish a template for your business plan and everyone on the team becomes familiar with it, it will not be too tedious to change details in it as the business grows and develops.
Here is a list of sections that I include in my business plans: Cover Logo, Table of Contents, Executive Summary, Company Description, Organization and Management, Industry and Market Analysis, Service or Product Line, Sales, Fundraising, Cost of Operations, Marketing, and Our Team.However, it is important that engineers do not list too many low-level details on these Trello boards.These boards should be organized hierarchically by detail level and only shared with whom they concern.Organization and Management: This should be a quick section that helps everyone in the company get on the same page as to what is expected of them within the company.This can also help organize new recruitments to the team.Additionally, this section should include all competitors in this market, with rank order lists of how big they are in terms of net worth and how new they are to the market.Both of these companies are important to list in order to guarantee differentiation and to have a quick list for the purpose of studying what is going right and wrong for them.Table of Contents: Provide a table of contents that gives page indices for different sections of the business plan, it is very common for these to exceed 20 pages and it is important to have a directory to navigate it.Executive Summary: Provide a 3 sentence description of the purpose of the company.This should explain the problem that the company is solving, with what strategy, (high-level), or a general statement of philosophy.This description can be very useful down the road when team members are getting distracted and have lost sight of the original focus of the company.