How To Write A Company Description For Your Business Plan: Direction & ExamplesTyler Sousa
The most important characteristic of your business is what you do, but a close second would be how you describe what you do.
No one knows the ins and outs of your business better than you, so rather than outsourcing or using a generic business description, try creating one yourself. Tell your audience of potential customers and investors why your business is the best around.
Customers want to work with a business that knows they’re the best at what they do and can explain why they’re so successful at it.
That’s what your business description should say about your company, “we’re the best at what we do and here’s why,” and that’s what we are going to aim to accomplish in this post.
What Category Does My Business Fall Under?
Knowing how to communicate the strengths of your business to your lenders, employees and potential customers is an extremely valuable skill for business owners and it starts with first understanding what type of business you are.
Use the categories below to identify the type of business yours is and see how they are described:
A service is a person or business that has a specific skill that they offer to consumers or other businesses.
Manufactures build or process basic components into products to be purchased by either consumers or other businesses.
A wholesaler buys products from a manufacturer and resells or brokers them to retailers.
Retail businesses buy goods from a variety of wholesalers to sell to consumers directly.
Project developers use resources to start and finish one-time projects for hiring clients.
No matter what category your business falls under, it’s solving a problem for its consumers. Use that problem as a springboard for the rest of your description.
Where to Start When Writing a Business Description
Once you’ve identified what type of business yours is, you can start to create a business description.
Start with a problem statement
A successful business is one that helps customers satisfy a need. To describe your business, determine what that need is and how your business is providing it to your consumers.
Let’s use an auto repair shop as an example.
A customer needs their car to commute to work and pick up their kids. If their car isn’t running properly, they’ll look to an auto repair shop to help them solve their issue.
For another example, consider a pizzeria. Their customers are in need of a quick, convenient bite to eat, and they’re satisfying that need by stopping in for a slice.
Now, think about your customers and what problem(s) your business is solving for them. That is what you’ll be looking to put in your problem statement.
Describe your business operations
Think of this part of your business plan description as a how you might explain what your business does to a complete stranger on a short elevator ride.
Get to the point and know what they want to hear while being as thorough as possible, all before that elevator door reopens and you lose their attention.
What to include when describing how your business operates:
- How your business satisfies customer needs
- Who your target audience is
- How you communicate with your target audience
- Your business’s location
- Your business’s hours
- How to contact your business
- How you plan to advertise your business
- What products or services your business offers
- How your business differs from its competition
This section of your business plan and description may be the most important because it says the most about what a customer should expect from your business, don’t be afraid to show your passion and what makes you stand out.
Business description templates
Using a business description template might help you organize your business plan, but if you’re aiming to add a description to your business’s company page on your website, a template may not be as effective.
When it comes to your website’s company or about us page, originality can sometimes say more than your words can.
To get the most out of a business description you are using on your website, find a way to bring a refreshing, original take to this page and show some of your business’s personality.
What Is a Good Business Description?
Defining a good business description is like trying to find a key that opens every door. What works for one, won’t work for all.
Instead, aim to highlight what makes your business different from your competition and how your customers can share that experience.
Here are a few examples of effective business descriptions:
Blurb uses its company profile page to describe its usefulness for independent authors with a short but powerful two paragraphs.
Clicking their “Discover the Blurb story” link below the description brings you to a much lengthier page where they explain their origins and what inspired them to do what they do.
Digital marketing service Western Digital uses a sleek design to introduce you to their staff and explain what their business does.
Introducing their staff to their potential customers is a great way to make things personal and build trust something their company has been very good at over the years.
Before their current layout, their company page was headed by a personal letter written by the business’s CEO. A small gesture like this might hit home with your target audience and help them remember your name the next time they need a service or product like yours.
Rackspace describes their business using its experience and accolades.
Accolades and positive reviews from customers make a great way to brag about how great your company is without looking biased.
An award, no matter how small, can say a lot about your business. Don’t be afraid to use them to help you describe your business.
Heineken is the biggest name on this list, but it goes to show that even large businesses like the German beer juggernaut go the extra mile to make sure their business description conveys the correct message to their target audience.
With their company page, they provide an overview of their core values, business priorities and a glance behind the curtain at what makes their business unique.
As you can tell from these examples, the best way to describe your business is with originality. Find out what makes your business your business and put those attributes on display.
What to Do Once You Have Your Business Description
Once you’ve got a business description you feel confident in, there are a few further steps you can take to confirm that your point is really being driven home.
Show your passion
You love what you do. Find a way to express that through your business description in a way that excites your potential customers to work with you.
Don’t overdo it
On the opposite end of the spectrum, when we as people are passionate about something, we can sometimes get a little carried away. Try not to over-explain things.
Have it proofread
An extra set of eyes is never a bad thing. Get someone who you trust and has a general understanding of how your business works to read your creation and provide feedback.
You know why your business is special, but explaining it to your audience isn’t always easy. That’s what makes a company description so important.
Hopefully this blog was able to help you craft a unique description of your business that highlights its strengths and provides a glimpse at the people behind it.