How to prepare a business profile

Preparing a business profile

"One of the most important steps in the supply chain is to show your capabilities effectively and communicate to other companies – those that can potentially use your products and services. A business or company profile is a marketing document and an excellent way of presenting business to potential customers."

A business or company profile is an essential document for companies of all sizes. This document is designed to catch the attention of and inform potential customers about the products or services. It represents the picture of your company more than just an advertisement. A well-written business profile makes it possible to quickly and easily present key information to the media, potential customers and investors, and the general public.

The profile should be concise and accurate report of what your company is, what you provide, the company structure including management procedures, your policies and principles, your business trading record, and financial viability.

The aim of your business profile is to influence the customer’s decision by demonstrating your credibility and convincing potential customers by offering:

· Certainty of supply

· Quality

· Value for money

· Lead time

· Minimal risk

What should be included when writing a company profile?

§ Mission statement - Summarising the company’s purpose.

§ Leader’s message – a short message about the mission, goals, achievements and importance of the business.

§ General overview - what the business does - a brief explanation of the types of products and/or services offered.

§ Company history – past successes and the challenges they have overcome. New businesses might be able to highlight the experience of the founders and what led them to begin the venture.

§ Successes and milestones – explain briefly how your company has helped its customers and an overview of important accomplishments.

§ Awards and certifications – include any awards or industry certifications.

§ Profiles of key personnel – education, skills and experience of the key staffs of your company helps to increase satisfaction on you company.

§ Corporate governance – your approach to meeting legal requirements.

§ Social responsibility – how your business aligns its values and behaviour with the expectations and needs of stakeholders — customers, investors, employees, suppliers, communities, and society as a whole.

§ Company culture – this might include your organisation’s outlook when it comes to staff development, occupational health and safety, and the overall work environment.

§ Financial performance – if a publicly traded company, include a summary of the most recent financial data.

The key questions to ask when writing your company profile is “What makes us stand out from others?” and “What makes us memorable?” Try to pin point them and write in such a way that convey the style and personality of the company.

Skimming other business and make you own profile:

§ Study some other business profiles, specially your competitors and other companies in the same type of business.

§ Write down the characteristics of the company that is interesting and draw attention.

§ Define the nature of the business, purpose, mission, history and other important features.

§ Note their style of writing and message.

§ Carefully look at their business description, product and services that it offers and its market sector.

§ Find out how other company add their business address, financial data, recent profits, revenues, growth and financial ranking to competitors in its sector.

§ Study the key list of the company such as number of employees and key personal. Study how they add biographies of founder and other important personal.

§ Search on internet for sample business profile and get some idea about how to write business profile.

§ There are so many ready to use business templates you can find on the net. You can use them or make some changes on it.

§ For internet and website use keywords and phrases, you can hire an expert to do this job.

§ Use attractive video profile for website, YouTube, Facebook, LinkedIn, Twitter or other video or social media sites.

§ It is very important to get crystal clear idea and include those key elements to your business profile.

Write some checklist to help you source the information:

Company Information – Basic contact details

§ Table of Content

§ Trading name

§ Company logo

§ Principal and Titles – Name and title of key person like Managing Director or Owner. You can include more than one but both must be key people of the business.

§ Contact details:

o postal address

o street (physical)

o phone

o fax

o Mobile

o Email – Very important! Get an email address from Gmail, Yahoo, Website or similar account.

o Website – Very important for your business. This is the first step to find out about your business. Website should be simple and well structured.

o Postal Address – if you have different street address.

o Year stabilised – Let the potential customers know that you have experience and stability.

§ Number of employees

§ Staff turnover rate

§ Professional memberships

§ Industry accreditations

§ Registrations and licences

Financial viability

§ How long in existence

§ Average annual growth

§ Copy of last years' financials (or auditor's statement of financial viability).

§ If you are a new business, find a way to demonstrate viability (for example, if you hold 90% equity in the business and have a low overdraft).

§ Bank contact details

§ Contact details for your accountant

§ Ability to carry a debtor for a specified period of time (for example, 60 days).

§ Any other information deemed appropriate and advantageous.

Capabilities and capacities - what you do and what you are good at

§ Main Business Activities and Industries – List the main area of work and the markets you serve.

§ Products or services provided – Give some examples of the range of products/goods/services you provide. List some specific products/services.

§ Preferred Business - What you are interested in and good at.

§ Business Approach – Your business point of view or philosophy. Write in a sentence.

§ Biography – include brief biography of key people of your company with their qualifications, experience, special abilities and capabilities. This says a lot more about your business. High skilled and experience staff will play in your favour.

§ Competitive Skills – List those special skills that make you stand out.

§ Equipment owned and operated – List the base equipment and facilities. About the speed of operation, quality and maintenance program.

§ Specialised Capabilities – It might be customer service, relationship, quality product, quality of work, lead time. Ask your trusted customers – ‘what makes our services or products stand out to you?’ drag this information and include to business profile.

§ Details of any specialist equipment or trades.

§ Software Used – IT systems is important part for business. If use it include it. If you have any other specialized software which benefits to you customers also include it.

§ Capacity Levels - Is your company able to scale up to meet increased demand? List your employment to give potential clients an idea of the work volume you can take on.

§ Are of Operation or Supply – What geographic areas do you supply to? Major project supply chains want to know that you can provide support to specific areas for things like product support, maintenance and service.

§ Training and Skills – Do you provide training services for your staff? If so include it.

Track Record - demonstrate your ability to meet contracts up to a certain value

§ Leading Projects and Major Clients – if you have completed large packages of work or successfully worked with the major customers, list them on your business profile. This is the most important factors for new customers. It shows that you know how to work with Major customers.

§ Delivery and reliability – if you have track record of reliability, timeliness, and good performance, use them as a proof of your company commitments.

Trading history

§ Previous contracts held, including any government or major contracts

§ Significant achievements in servicing these contracts (for example, completed under budget)

§ Testimonials

§ Details of any preferred supplier status

§ Industry awards received

Management Systems and Risk Management

· Health & Safety Management Systems

Health & Safety is one of the major issues in the major supply chains. They want high standard safety performance.

Show your customers what level of safety management systems you have:

o A Health and Safety Policy Statement.

o A documented Health and Safety Management System or procedures.

o A senior manager responsible for safety management.

o A Health and Safety Management System and procedures certified by a third party.

o A Health and Safety Management System and procedures that comply with ISO standards.

o Your business is Occupational Health and Safety aware, trained and compliant.

o Understand legislation and regulations.

o Show how you actively manage safety in your workplace (for example, staff training, signage, safety barriers, incident reporting procedures, plant maintenance and inspection schedules).

o Injury-free days (reflects safety 'culture' in the workplace).

· Environment Management Systems

Environmental management is another important driver of performance for major project supply chains. How do you manage environmental performance? What practices do you use on site to minimise impact? Do you know how to minimise waste, reduce energy usage and choose low energy usage equipment?

What level of environmental management system do you have?

o An Environmental and Safety Policy Statement.

o A documented Environmental Management System or procedures to assess and

Minimise impacts.

o A senior manager responsible for environmental management.

o An Environmental Management System and procedures certified by a third party.

o Understand legislation and regulations.

o ISO 14000 offers guidance to help formulate your policy.

· Quality Management Systems

Quality management plays very important role in supply chains. How do you manage and improve quality in your business for your products/services?

What level of quality management systems do you have?

o A quality Policy Statement.

o A documented Quality Management System.

o Test inspections and a test plan.

o Documented processes (for example, checklists).

o A senior manager responsible for quality management.

o A Quality Management System – internal or certified by a third party (Trade / professional accreditations).

o Processes that must be practised in the workplace.

o A Quality Management System that complies with ISO 9001 series.

o Procedures for assessing and approving the Quality Systems of your subcontractors.

o Include information about your quality approach.

· Insurance details

Major customers in supply chains want to know what insurances you hold. List them and the value of the policy.

o Public liability

o Professional indemnity

o Workers compensation

o Plant and equipment

o Any other work related insurance

· Risk Management Systems

Major project supply chains focus on risk management. What are some of the things you do in your business that help to manage risk?

What level of risk management systems do you have in your business?

o A risk management system to identify and assess potential risks.

o A Risk Management System and procedures to manage this risk like risk assessment procedures for work on site or at your premises.

o A Risk Management System that has been certified by a third party.

o A Risk Management System and procedures that comply with ISO 31000.

· Other Work Management Systems

Do you serve big projects? Big projects run on documentation. Do you have effective systems for receiving orders, tracking orders and invoices? Explain that you have systems in place to manage the paperwork and reporting required on large projects.

Customer Service and Market Response

· Relationships and Communication

Good communication and maintaining strong relationships are very important in supply chains. If you have long term relationships with leading companies, it will help on delays or changes.

· Improvement and Innovation

Major supply chains are always interested in continues improvement and innovation of your management systems. Show them that you innovate and improve your systems, products/services that are committed to ‘going the extra mile’.

· Responsiveness

Do you have a quick response approach to customers, quoting, work status updates? Do you have an afterhour’s contact and the ability to respond to emergency requests? Include this information to show that you are customer focused.

Corporate governance

§ Corporate governance explains your attitude and approach to your business, and influences your organisation's workplace 'culture'. The aim is to assure potential purchasers that you have policies and procedures in place to meet your legislative requirements and thus provide a quality, low risk job.

Industrial relations

§ Compliance with Awards, Workplace Agreement or Certified Agreement.

§ Documentation regarding allowances paid, fringe benefits, etc.

§ Details of induction processes, etc (demonstrate how you inform employees of your industrial relations policies).

The Network

· Networks

It is very important that you are a part of network in the supply chains. The major supply chains want to know that you can collaborate with others.

· Industry Association Membership

Are you a member of an industry association or group? This helps you stay up to date with developments and get information about your industry/business. Include those information to you business profile.

· Corporate Social Responsibility

The last commitment of your company is to giving something back to the community.

o investing in community projects

o supporting research initiatives

o introducing occupational health and safety measures

o adopting environmentally friendly practices, or

o drafting and applying a code of ethics to company operations

o sponsoring a local team

o providing goods and / or services to your local school or charity

o providing work experience for the local high school students

Layout and production

§ Quality (professional appearance)

§ Attract the reader's attention

§ Provides all key information

§ Accurate and honest

§ Well written and logical

§ Spelling and grammar (have it proof read several times)

§ Print sufficient copies to be able to freely distribute

Distribution

§ Existing and potential clients

§ Submit with all tenders

§ Web page

§ Email

There are so many ways you can follow to prepare your business profile. Focus only on the specific point that influences potential customers. Use attractive images and well structured flow chart to demonstrate your company.