Why You Need a Written Description of Your Business (Part 1)

Are you (or do you know) an entrepreneur that is just beyond the initial idea phase and is now working on fleshing out the concept and attracting the right players (potential partners, suppliers, customers, future employees, investors, etc.)?

If you are and were asked to describe your business concept to one of these potential players, what would you tell them?

Would you spend all the time discussing your product (or service) and how wonderful it is? Would you be able to provide any written description of the business (a business overview/summary)? With many of the entrepreneurs that I meet the answers to these questions are “Yes, I only talk about the product”, and “No, I don’t have any written description of the business”.