The company description section of your business plan is typically the second section, coming after the executive summary. The company description of your business plan describes the vision and direction of the company so potential lenders and partners can develop an accurate impression about who you are.
In respect to this, how do you describe your business idea?
Here are five simple steps to explain your idea to customers, investors, or even your Grandma:
- Keep it short. Your explanation should not be more than a few sentences.
- Identify the problem you are solving.
- Simply explain your solution.
- Explain what your solution means for your customers.
- Personalize it.
What is your idea of a business?
A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the base of the pyramid when it comes to the business as a whole. The characteristics of a promising business idea are: Innovative. Unique.
What is a simple business?
A simple business plan is a business plan typically produced by start-ups. You write your business plan as normal but you reduce the breadth of content in certain sections of your business plan. By producing a simple business plan, the entrepreneur is taking the next step towards their idea reaching fruition.