Product Business Plan

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Clarifying these details is still a useful exercise even if you’re the only person who’s going to see them.

It's an opportunity to put to paper some of the more intangible facets of your business, like your principles, ideals, and cultural philosophies.

Whatever your reason for writing a business plan, the task will probably still feel like a homework assignment.

When you’re starting a business, your to-do list is a mile long and filled with more immediately rewarding tasks, like taking product photos, creating ad campaigns, and opening social media accounts.

Here are some of the components you should include in your company overview: Some of these points are statements of fact, but others will require a bit more thought to define, especially when it comes to your business’s vision, mission, and values.

This is where you start getting to the core of why your business exists, what you hope to accomplish, and what you stand for.

Your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence.

As an example, Shopify’s mission statement is “Make commerce better for everyone.” It’s the “why” behind everything we do and clear enough that it needs no further explanation.

As you make a list, your core values should start to emerge.

Once you know your values, you can pen a mission statement.

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