How To Write A Concept Statement? A concept statement is a statement that describes the purpose of your business, product or service. It should be written in a way that clearly states its unique value proposition to customers and potential investors.
The first step in creating an effective concept statement is finding out what makes your company different from other companies offering similar products or services. There are several ways you can go about doing this, but one of the most efficient methods is to create a list of all the things you do well compared with other businesses in your industry. You can also make up some questions for yourself based on these differences to help you come up with ideas when writing down what makes your company special.
Once you have compiled a list of strengths and weaknesses, it’s time to turn them into something more concrete by creating an outline for how they will appear within each section of the concept statement itself. This outline must include three sections which contain information regarding who will benefit from using your product.
- 1 What is a concept statement?
- 2 How to write a concept statement?
- 3 Pull it all together
- 4 The key elements of business plan concept statements
- 5 What should a business concept statement include?
What is a concept statement?
A concept statement is a small look at the future. They are short descriptions of products, services or designs that help people visualize their particular vision for what could be possible in this world through technology and innovation. In general terms an effective one provides information on business goals as well as how it solves problems with its design approach to solving those issues by identifying where there might be need of improvement if any more work needs done – all without being too detailed but still allowing readers understand exactly who will benefit most from reading your plans/proposals (you!).
A concept statement is an essential part of any decision-making process, because it provides the information that leads to making decisions. From stage building up until now and everything in between–concept statements are like last words before you make your big performance for everyone!
How to write a concept statement?
Keep it brief
You might think that a full page is the right length for your concept statement, but in most cases we find it’s better to keep them shorter and more concise. You’re not writing an essay here – you want people reading what matters most!
Explain your idea clearly
You can start your opening sentences with the present tense of “to be” or a contraction. For example: I am not sure that this chair will work for you, but it might — so let me show some alternatives on how else chairs are made! The general rule is clear when using these words in place of full-fledged subjects like ‘the’ and capital letters at beginning lines; however there may still come instances where they do not apply properly (e..g., while reading aloud).
For your second point, explain why this product idea is important or how it differs from others on the market. For example: “When a seat wears out you can order replacement cushions; rather than buying an entirely new chair every time someone gains weight and needs more space (which often happens), he gets up whenever necessary without interrupting his work flow.”
Write to your audience
A concept statement is a brief, project-related introduction that provides background information on the company or design team’s goals. It can be used to convince investors about your idea and potential customers of how it will benefit them in some way by providing new products/designs
A successfully crafted Concept Statement should clearly describe what you’re offering while tying everything together into one concise paragraph with strong arguments supporting its validity – this gives readers enough motivation without overwhelming them!
Your concept statement is the foundation of your business. It not only introduces who you are and what makes sense for people like me, but also tells them how their needs can be met with this service or product!
Spell out the benefits
For those who have ever commuted to work on a bike, you know how much more enjoyable it is than sitting in an office chair all day. Chairs with wheels can be tough and uncomfortable for prolonged periods of time; plus they’re usually not very ergonomic which makes sense considering what we use our desks primarily for – working! A person could spend hours typing away at one’s computer only turn around after noon feeling somewhat alleviate (and possibly even dizzy). The benefits don’t stop there though- when someone gets up from their seat during lunchtime or pauses between meetings throughout the afternoon they’ll begin experiencing discomfort soon thereafter due poor positioning while sitting upright.
You can’t assume that your audience understands the benefits of a product, as they may be aware and impressed by one but not others. Writing them down in an easy-to understand format will make sure you’re giving off all those good vibes!
Pull it all together
To draw the eye to each point, consider adding subheads such as “Concept,” “How This Chair Differs” and then read your idea from beginning-to end. Check that it flows evenly without being too hard or unclear on what you’re trying say just because there are different points in one sentence which would cause confusion for someone reading through all of them at once so make sure they flow nicely together instead!
The key elements of business plan concept statements
The business description
This element explains what the business is all about. The descriptions succinctly highlight the role of this company in its market and describe how it operates, with particular attention given to distinct features that set them apart from their competitors or any new trends they may offer for customers who are looking into similar products/services on today’s marketplace scene. This sentence starts by describing an object (the listing) which has four parts: title; description text followed by more detail if necessary…
The product or service you will be offering
This section of the ad describes what makes your business unique. You need to be able to articulate how you are different from any other products or services out there in order for people who see this message on social media, etc., will know where they can find a solution when looking at all their options!
What is your target market? How did you settle on that particular group of individuals for which to sell, and how do they differ from others who might use or buy the same product as yourself. When describing this in more detail be sure not only talk about what type of person(s) it belongs too but also mention any specific traits or qualities most relevant here (e.g., age).
Your goals and objectives
Your audience needs to know what your immediate and future plans are as a business. You also need to provide them with some sort of timeline so that they can plan for the next steps in their careers or company goals, too!
What should a business concept statement include?
- A brief description of the business concept: Your product or service is the answer to all of your problems. It has never been easier and won’t be in an upcoming future because we’re onto something big here!
- The market need: There are many opportunities out there for entrepreneurs to take advantage. You just have to identify the void in your marketplace and fill it with something that people need, want or enjoy!
- Your solution: A business plan is an opportunity for you to share your vision. It’s also the chance that most entrepreneurs don’t take, because they’re too busy thinking about what makes their idea valuable or how quickly it can be made into cash flow positive!
- Your proposed business bodel: The key to a successful business is all in this one part. You’ll need to discuss how you plan on making money, what resources and processes will be implemented for the sake of efficiency (or lack thereof), and any other factors that might influence whether or not people want your product/service after reading about them!
- Your unique value proposition (UVP): Importers look for a competitive advantage by identifying the unique features of their products and services. These include things like quality, customer service, or something else that will make them stand out in an increasingly crowded marketplace. Importers have been able to turn these qualities into brand logos while gaining trust from customers who know what they can expect when buying from this company instead of one without those particular assets available.
- A succinct competitive analysis: To make sure your new business idea will fill a hole in the market, you need to look at potential competitors. Make sure that there is no overlap between yours and their target audiences or clientele before going into production with this product!
- A quick overview of your marketing plan: A strategy for marketing your business will be different than that of competitors. It is important to establish buyer personas, develop a target audience and assess which verticals are most appropriate in order to reach them effectively. Then discuss how you plan on promoting yourself differently from other companies so as not only help grow the success rate but make an impactful difference within this ever-changing industry!
After reading this blog post, you should be able to write a concept statement for your business. If you need help with writing the rest of your marketing plan or branding materials, we can also offer assistance in those areas as well. We are always happy to help!