Creating a compelling and engaging concept statement is possibly the most important and yet most difficult aspect of launching a new venture. create a concept statement. Come up with an idea for a new product or service that presents some benefits over and above existing alternatives. List and describe the most important elements that should be included in the concept statement. concept statement - customized to the desired audience (i.e. potential investors in the new company, potential customers, potential employees, etc.). Write atleat 2 apa style irefernces and in text citations.