Business plan description of services
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. On the other hand, describing how the company’s products and services will differ from the competition is critical.
Indicate why your product or services are needed. This is a great opportunity to emphasize the unique features of the product or service and establish the potential of the venture. Did you trademark, copyright, or patent your product? What Should a Company Description in a Business Plan Include? How do you write the Products and Services section of a business plan? Most investors call this the “USP” or Unique Selling Proposition.
Company name — The official name of your business as registered in the state where you do business. Use the same thought process for your introductory paragraph. Almost every business has one. Gotten approvals from industry experts? When describing your business, the first thing you need to concentrate on is its structure. Getty Images In the Products and Services section of your business plan, you will clearly describe–yep–the products and services your business will provide.
Have It Proofread – Ask someone who hasn’t seen various drafts of the company description to review it for typos, grammatical errors or flow problems that could hurt the impact it has on the reader. For example, before there was Federal Express, overnight delivery was a niche business served by small companies. Include anything in your education or experience that makes you the expert in this business. Here are the points you want to write up in the Products and Services section of your business plan: Just explain the factors you think will make it successful, like the following: Objectives – An outline of what you want to accomplish in the immediate future based on the data in the rest of the business plan as well future growth goals.
In fact, the investor will be looking for any proprietary information that will set your concept apart from the crowd. Write as if you’re talking to your customer. Your excitement should show in the tone of your writing, and your aim should be to get the reader interested in reading the rest of the business plan. For these parts, provide only a high-level overview and leave all of the specific details for the related section.
Show how you will expand your business or be able to create something by using that money. Have you produced some and are looking to expand? FedEx had to define the opportunity for a new, large-scale service and justify why customers needed–and would actually use–that service. Remember, the primary goal of your business plan is to convince you that the business is viable–and to create a road map for you to follow.
The Onboarding benefit lets you work remotely with Microsoft specialists to get your Office environment ready for use. To compare features across plans, see Compare Office for Business plans or the relevant service description in the list below. Factors that support your claims for success can be mentioned briefly; they will be detailed later.