People normally answer this question by noting the commodity or product. For example:

“I am in the electricity business.”
“I am in the perfume business.”
“I am in the skincare business.”
“I am in the health and wellness business.”
“I am in the personal development business”

But the commodity or product isn’t our business.

Our business is what our commodity or product does for our customers.

So we should try to re-word the above to:

“I help people save money by lowering their electric bills.”
“I show people how to save up to 80% on their fragrances.”
“I help people make their face their best first impression.”
“I show people how to feel like they are 16 years old again, but with better judgment.”
“I help people to become a better version of themselves.”

It is much easier to market our business when we know what we really do.

We don’t have to be masters of marketing – just better than our immediate competition.

Remember, McDonald’s didn’t start off with all those restaurants. They started off with just one.