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