A few things to consider adding to the first part.
As the name implies, this section provides a bit of backstory for your company.
To Start
Include historical details such as when, where, and how your company was (or will be) formed. Now would also be a good time to mention your current status as a legal entity, and whether you have plans to change that status. This is not a place in your business plan where you should be shy; be sure to mention accomplishments and accolades.
What to Include
Be sure to include personal accomplishments, even if they aren?t particularly pertinent to the pitch at hand. Many investors rightly view past accomplishments as an indicator of potential success down the line. People also respond to passion, so this is a good time to showcase your knowledge and mastery of your chosen field. The challenge here? Keep it concise and on track.
What business will you be in? What will you do?
Mission Statement: Many companies have a brief mission statement, usually in 30 words or fewer, explaining their reason for being and their guiding principles. If you want to draft a mission statement, this is a good place to put it in the plan, followed by:
Business Philosophy: What is important to you in business?
To whom will you market your products? (State it briefly here?you will do a more thorough explanation in the Marketing Plan section).
Goals – great work making the goals specific, measured, and timely.
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