Products Services Offerings

Written by Neva Quantz Monday, 01 June 2009 00:00

Products/Services Offerings (1-3)

Remember the bracketed (numbers) following each heading are merely suggestions for page lengths.

Description of Products and Services

The primary types of products and/or servies your venture will provide.

Products and Services

Briefly describe your product(s) or service(s). Give an honest assessment of its strengths and weaknesses. Be sure to include how your product or service is unique.

Production of Products and Services

How will you gain access to and distribute your product/service?
What are your plans to sustain your product or service?

Key Features of the Products and Services

• Describe what is unique about your product/services. Include examples of quality and distinctive features (Any technical specifications, pictures, drawings, etc belong in the Appendices.)
• Describe how you plan to protect what makes you unique. Do you have legal protection like patents, trademarks or copyrights?
• What are the pricing, fee, or leasing structures of your products or services?

Comparative Advantages in Service

New businesses that succeed do so most often because they find a small part of an industry that they can call their own - a "niche". You must describe what product or service you will be selling, what makes it unique and how you will carve out a place within the existing industry.

• What are your competitors offering?
• How do their products/services compare to your?
• How easy is it for your competitors to duplicate your unique product or service?
• Describe what role technology plays in the creation of your product or service.
• Does this make it easier or more difficult for competitors to offer a similar product or service?

Future Products and Services

What products and Services do you foresee offering in the future? Give estimated timelines for these, projected costs, etc.

Bear in mind these 5 points as you continue:

1. Define your objectives for producing the business plan.
2. Allocate enough time and resources to thoroughly research your business plan.
3. Outline the key points you want to make in each section before you start writing.
4. Write your own business plan
5. When writing the plan:

• Avoid unnecessary jargon
• Economize on words
• Use short crisp sentences
• Check spelling
• Concentrate on relevant and significant issues
• Break the text into numbered paragraphs, sections etc.
• Relegate detail to Appendices

Next month we will complete the Industry Overview.

See the March 2009 article for a list of helpful websites.

Best Regards,
Neva

P.S. This is Part 6 in the Practice Excellence series. To review earlier articles start here.

Excellence is never an accident: it is the result of high intention, sincere effort,
intelligent direction, skillful execution and the vision to see obstacles as opportunities.


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