TAILIEUCHUNG - Business Plans Kit For Dummies 2nd editon - Chapter 6

Chapter 6 Describing Your Business and Its Capabilities In This Chapter Explaining what your company does Planning your elevator speech Describing your business capabilities Building on what your company does best | H DD Chapter 6 Describing Your Business and Its Capabilities In This Chapter Explaining what your company does Planning your elevator speech Describing your business capabilities Building on what your company does best ome on you may be thinking. How hard can it be to describe who my company is and what it does Before you tackle that question ask a few other entrepreneurs to tell you what their companies do and watch as they grope for answers. Describing a company isn t quite as simple as it sounds and that s why this chapter is so important. When a banker or potential investor is reading your business plan the first thing that person wants to know in a nutshell is what your business does. Your job is to give a good description without getting lost in the details and without lapsing into industry jargon. And you have to keep it short too. After all you re writing a business plan not the great American novel. Your business description must clearly and concisely convey the most important aspects of your company the customers you serve and the products and services you offer. This chapter helps you examine your company s capabilities and put into words who your company is what your company does best and what s most important to your company and its customers. Introducing Your Company Imagine that you re at your high-school reunion and a bunch of old pals ask what you re up to. As you describe your company you want to cover the high points and you also want to build enthusiasm by conveying that it s a really great idea. H DD 116 Part II Developing Your Plan s Components Here s an example of what the conversation may sound like I ve put together a brand-new way to encourage people to contribute to worthy nonprofit organizations. The concept started when I began thinking about the success of online gift certificate sales. It occurred to me that I could use the same idea to help worthy causes selling nonprofit gift certificates online to provide a simple way for people to

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