Explain why you are set apart from the competition. Make note of trends and other developments in areas such as technology, production and operations that may affect your business as it grows. Do you know how to turn your growing business into a profitable venture?
A business description provides an overview of key aspects about your business, like what you do and what makes your business original. Describe the types of messages that resonate with your target market and how it likes to receive information.
Say when you want to open your business or when you opened it. Explain what steps you will take to make your business a success. When you describe your business, make sure you know who you appeal to.
Ask yourself a few simple questions to begin forming a clear vision of your business objectives. And, how do you plan to achieve the goals you set for your business? Define Your Tangibles Is your business virtual or does it have a brick-and-mortar location?
Say why you are offering what you are and what allows your business to stand out from its competitors. How to Write a Company Description About the Author Nicole is a business writer with nearly two decades of hands-on and publishing experience.
Define Your Mission Statement Why will you stand out? How do you plan to reach the goals you have set?
A mission statement helps set you apart from competition and explain why your business is unique. How do you summarize your passions, hopes and dreams? Why would potential customers want to buy from you? Detail how you plan to market your products and services to your target market.
Yet it is vital. Define Your Identity What is the name of your business and who are you?
Likewise, if you are opening a new business, make sure you state where you want it to be located. Consider also how your academic or practical background helps you in your chosen field.
What are your goals for your business? What type of business structure will you form? Print your business description and include it with the rest of your business plan. Allow people to see your thought process, and they get a sense of why your business will be successful.
The business is a sole proprietorship, operating under entrepreneur Ann Smith. State how the business will make money, and list the key factors you will use to measure success.
You want to be confident that anyone reading or hearing it will know what your business involves quickly and easily. And, include your name because lenders and investors want to know the entrepreneur who started the business.
What services or talents are you offering? Adding that detail can make people relate to your cause. Directly addressing the scope of what you can provide clients is key here. Detail how you plan to manufacture and distribute your products or services. Research your industry and competition using a diverse range of credible sources.
Define Your Intentions Be clear about the intent of your business. Craft a problem statement that outlines a common problem your target market has and how your business plans to address it with the products or services it offers. To whom does your business appeal?
This is also a good time to include a summary of at least one short-term goal and an overarching long-term goal.If your plan is not too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in three or four paragraphs that will end the statement.
Let your passion and excitement show in the company description section as you explain why you started the company and what you hope to accomplish. Your excitement should show in the tone of your writing, and your aim should be to get the reader interested in reading the rest of the business plan.
If you need to know how to write a company description for a business plan, take a look at this example. Ann’s Office Hut delivers office supplies to small businesses in Boston, Massachusetts. The business is a sole proprietorship, operating under entrepreneur Ann Smith. For example, you want to include your background knowledge, expertise, and experience in doing the work involved in your business.
You can include a resume of your experience in the Appendix. If there are areas you don't have the knowledge or experience or are weak in, explain how you'll overcome or compensate for that. A business description gives a snapshot of the business you plan to run or are already running.
Business descriptions are typically written to appeal to potential investors, but they are important.Download