Company history in a business plan? Yes, it’s a good addition to some business plans, but not all.
For this article, I want to look at how to decide whether or not you include company history, and if you do, what to include and where to put it in the plan.
The purpose of the business plan
When considering what to do with company history for your business plan, first consider the use of your business plan.
For the traditional business plan to be used as a business summary for potential investors, bank loan managers, partners, or legal requirements, a short summary of company history is usually appropriate.
For lean business plans, operational plans, and strategic plans to be used by startup founders, owners, and management team, company history may be overkill. Include it in your plan only where it relates to actual future business. That might be with strategy, tactics, milestones, metrics, or projected sales and spending. In those cases, there should be some direct connection between history and future business.
