A business description is a crucial component of a business plan that provides a concise overview of a company’s purpose, operations, products or services, target markets, and competitive landscape. It is an opportunity to introduce your company, including your brand identity, and should be written in a way that resonates with your target audience.
Key Elements of a Business Description
A business description should include the following key elements:
- Company Overview: A brief summary of the company’s history, mission, and values.
- Products or Services: A description of the products or services offered, including their benefits and unique features.
- Target Market: An identification of the target audience, including demographics, needs, and preferences.
- Competitive Landscape: An analysis of the competitive environment, including key competitors, market trends, and the company’s competitive advantages.
- Operations: A description of the company’s operations, including its management structure, production processes, and supply chain.
- Financial Overview: A summary of the company’s financial situation, including revenue streams, expenses, and funding requirements.
Tips for Writing a Compelling Business Description
- Keep it Concise: A business description should be brief and to the point, ideally no more than one or two pages in length.
- Use Active Voice: Write in the active voice, as it is more engaging and easier to read than the passive voice.
- Make it On-Brand: Ensure that the tone and language used in the business description align with the company’s brand identity.
- Customize for Each Platform: Tailor the business description to fit the specific requirements and audience of each platform, such as a website, social media, or online directory.
- Use Keywords: Incorporate relevant keywords to improve search engine optimization (SEO) and make the business description more discoverable.
Examples of Business Descriptions
- Executive Summary: A brief overview of the company’s mission, goals, target audience, and financial objectives.
- Company Description: A description of the company’s purpose, operations, products and services, target markets, and competitive landscape.
- Market Analysis: An analysis of the industry, market trends, potential customers, and competitors.
- Products and Services: A description of the products or services offered, including their benefits and unique features.
- Marketing Plan: A description of the company’s marketing strategy, including its target audience, marketing mix, and performance metrics.
By including these key elements and following these tips, a business description can effectively communicate a company’s value proposition and help it stand out in a competitive market.
