This section describes the steps leading up to this point in time in your business. Each situation is unique.
You may have purchased or are in the process of purchasing the business through a sales transaction.
Another common situation is moving from a hobby to a full time business or moving from a home based business to an online store or physical storefront.
Sometimes a new product line being launched or an expansion to a business is happening because of an opportunity that has been revealed through the course of being in business. An example of this is a food producer who has sold via farmgate or at farmers market and now has an opportunity to distribute in a national grocery chain. Or the business is being reviewed and updated due to external factors such as automation or introducing online selling.
You may have been working on your business part time and now you are going to devote all of your time or have left your current job to pursue the business full time.
If you are still in the planning stages and a firm start date hasn’t been established, this would be stated here.
These statuses indicate why this plan is being written because the original plan is no longer accurate because the assumptions and the reason the plan was written have changed.