Most leading businesses in each industry have one thing in common; a great business plan. However, having a good business description before creating a buttoned-up business plan would be best. The business description, also known as company description, outlines your business’s goals, purpose, and possibilities to potential investors and other interested third parties.

Since it is the first information a reader sees about your business, it must create the impression that you want to stick in people’s minds. It shows your company’s position in the market and how it benefits the consumer. The secret is to make it simple and easy to understand.

Writing a proper business description is straightforward; here is a simple guide to creating a catchy description for your business plan.

Key Takeaways

• A company description means a perfect outline of your business that you must include in your business plan.
• Creating a winning description requires you to understand the industry you are venturing into, including its major competitors and the present and future state
• You need to highlight your company’s basics at the beginning of your business description
• An effective business description requires a proper understanding of your target market
• The secret to writing a selling business description is remaining on-brand

How to Create a Selling Business Description

A business plan and description can differ from other businesses depending on your industry and company. Therefore, the following simple steps will help you create a custom business description to suit your business.

     1. Research the Industry You are Venturing into and the Competition

To create an effective business plan and description, you need intensive knowledge of the industry you are stepping into and its top competitors. There are various sources you can get this information, including the following:

• Trade magazines
• News sources
• Published studies
• One-on-one talks with the industry veterans

Moreover, your target market can be a significant source of crucial information. A survey or interview with the market can provide great insight into creating a catchy company description.

     2. Talk about the Industry’s Present and Future

Describe the trends that will likely affect the industry you are venturing into and your business as it develops. These developments can come in technology, operation, or production.

Note that these changes can negatively or positively impact your business. Therefore, including all the possibilities in your business description would be best.

     3. Talk about the Basics

A company description introduces the reader to your business and its contribution to the industry. Therefore, listing all the essential information is an ideal starting point. Below is the basic information that must appear in your description.

• The Company Name with the owners’ names and the name of key members of the management team
• Your business goals
• Target market
• Competitive advantage; say what makes your business unique
• Opening date and physical location
• Services or products your business will provide
• Mission statement
• Business structure

     4. Create a Problem Statement

Use a problem statement to identify a common challenge your target market currently faces and how your business will help solve the problem. Here, it would help to show how your business’s products and services are the solutions your target market seeks.

Provide the details of your company’s products and services and their benefits. Additionally, mention the unique features that distinguish your products from your competitors.

     5. Know Your Target Market

Describe your target market in detail. Identify your target audience’s geographical location, age range, attitudes, and spending habits. In addition, know their relationship status, values, and income levels, which determine their purchasing power.

Next, identify the type of information that best resonates with your target market. Finally, explain the best ways to convey that message to your audience effectively.

     6. Display Your Excitement and Passion

The description is your first chance to share your passion and excitement. It adds a human touch to your business plan. The description not only sells your services and products to investors, but it also sells you.

Shine your passion to your reader as you explain your business history, inspiration, and what you purpose to gain. Your excitement should come out through your writing tone, and it aims to get the reader to read the entire business plan.

     7. Select Your Keywords Wisely

You will need your business description across the internet, including social media platforms, websites, listings, and reviews. Since the primary location for this description is online, you must ensure that it optimizes in search engines.

Keywords help your business to rank well across all search platforms like Google and Bing. It would help if you had keywords that would easily land visitors on your website. Google keyword volume is a sure starting point for overall Search Engine Optimization ranking.

     8. Always Remain On-brand

Your business description introduces your company and brand identity to your audience. Therefore, you must ensure that your writing tone matches your brand voice. Keeping your tone on-brand gives the reader a hint of what to expect from your business.

For example, a light-hearted tone conveys that your brand is jokey and casual. Contrarily, if your brand is formal, using an authoritative and serious tone will be a catching approach for your business description.

Best Tips for a Selling Business Description

The following are some selling tips for writing a practical company description:

• Start with an elevator pitch – you can consider the first paragraph of the description as an elevator pitch as it communicates all the key characteristics of your business.
• Consider high-level information– focus only on the information that might not appear in other areas of the business plan.
• Show your passion – use a tone that communicates your passion and encourages the reader to go through your business plan to the end.
• The length matters – avoid redundant information to make your description clear and to the point.
• Let someone proofread – consider a second party to proofread your description, checking for flaws.

Final Thought

A precise and well-crafted business description is sure to set your business plan above your competitors’. If you have a well-established company or are setting up a startup, a business description is essential to success. Therefore, this guide will help you land your dream investors with a top-selling business description.