Writing Your Business Plan, Step 3: Products and Services

May 11, 2009 at 6:00 am Leave a comment

Today is step 3 of 13 in the writing of our business plan.  In this section, you will be writing about your products and/or services.  Write about what you are selling – as YOU see it.  Here are some tips to help you and topics you should include in this section:

Be Specific

Be very specific about your products and services.  If you sell products use photos, drawings, or designs.  If you sell services, give in depth description of what you do.

What makes your Product or Service different?

Describe how your product or service is unique.  Does it offer benefits that competitors do not?  What are the features of your product or service that make it stand apart from similar products or services?

Creation Process

If you sell a product, describe the process by which you purchase or create your product.  If you offer a service, describe your technique in providing the service.

Pricing

What are the prices for your products or services?

Distribution

Describe how you sell your goods.  Do you have a retail store or studio?  Do you sell your products over the internet?  Do you work from home and meet people at coffeeshops?

Next Step

The Products and Services section is the perfect lead-in to the Marketing Plan which we’ll be discussing over the next few days.  The marketing plan will further break down your competitors, your pricing, and your distribution – and, you’ll be going into your products and services as your customers see it..

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Entry filed under: 13 Step Business Plan, Plan It, Strategy.

Insider to Insider: Jean Louise Paquin Allen, Owner of Juniper Flowers Writing Your Business Plan, Step 4: Marketing Plan (Research and Economics)

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