A quick note before we dive in to today’s topic, “How to Write a Knock-Out Business Description.” I’m super-excited to let you know that the online B-Plan Writing Course is slated for this March!
And the best part: EVERYONE who attends all eight classes of my four-week course (two hour-long classes a week) and completes all homework assignments will complete the course with a written business plan … guaranteed!
Click here to join the B-Plan Writers’ Club and be the first to know when the course opens for registration. Seats will go fast! (Think: where else will you be able to get a FULL business plan for less than $200?)
I want to send a huge thanks to those who attended my one-hour Business Plan Writing 101 seminar in Cleveland. I received some fabulous feedback:
- “The class was very informative and straightforward.”
- “I learned a lot about writing a business plan.”
- “The class was well taught, but I thought we’d actually start writing the business plan.”
That last comment really stuck with me: I wasn’t giving the people what they really wanted and the online B-Plan Writing Course will change all of that!
With that being said, let’s get into today’s topic: “How to Write a Knock-Out Business Description.”
Every business plan needs a business description. The hard part is writing an unforgettable description that will engage your readers.
The first step in writing a knock-out company description is asking yourself, “What am I truly selling?” For example, Colgate sells toothpaste, right? Not quite, my friend. Colgate actually sells a beautiful smile and nice, bright teeth.
Toothpaste is the product and the beautiful smile and nice, bright teeth is the benefit. The benefit of your product or service from the customer’s perspective is what you need to focus on in your Business Description.
Describing Your Business
Writing the Business Description for your business plan is essentially a two-step process:
- Step #1: Start with the facts about your business
- Step #2: Put some shine on your description by writing about your “specialness”
Step #1: Share the Facts
This section of your plan should include:
- Your date of formation
- Legal structure (LLC, C-Corp., etc.)
- Business stage (startup, purchase of an existing business, etc.)
- Your mission/vision
- A brief summary of your products/services
- Your business type (manufacturer, hair salon, transportation services provider, etc.)
- Brief bios (about a paragraph or two) highlighting your skills and background a well as those of your team
- Organizational structure (if you have employees and partners)
Step #2: Give It Some Flare
Once you’ve taken care of the facts, you’ve got to put the “shine” on your description. To do this, be sure to describe the unique aspects of your business and how or why your business will appeal to consumers. Emphasize your specialness – features you feel will attract customers and explain why you’re so darn appealing.
Use the advice above to write your Business Description. Remember your Business Description should include not only the facts about your business, but also effectively communicate your company’s appeal. It’s important that you make it your own. No two business descriptions should ever be the same because every business is unique in its own way. You’ve got to dig deep to find your specialness and write about it.
Be sure to describe the benefits of your business from your customers’ perspective. Successful business owners know or at least have an idea of what their customers want or expect from their product or service. Use this knowledge to share information about how you will beat the competition and stay competitive.
P.S. I share super-exclusive samples of each section of the business plan with my email subscribers. Want to see a business description that knocked the socks off of a lender? Go ahead and click here to subscribe to the B-Plan Writers’ Club.