Component Review

Back to: How to Write a Show-Stopping Business Plan Step-by-Step

Congratulations, you have completed another component – Your Products and Services! We hope you now have a little more clarity around your offerings, or else these activities have cemented into place what you already knew. Both outcomes making it a valuable exercise.

Review

Let’s review what we learned:

1. 1. 1. First, we looked at what products and/or services your business will be providing. We learnt that by identifying them now in broad strokes it would help us later when it came to the planning components of the plan. We also realised that defining our products and services properly allowed us to understand more about our customers’ needs.
      2. Next, we put a bit more meat on those offerings by considering what their key features and benefits would be. We learnt the difference between the two and then jotted down the features and benefits of each service we will be providing.
      3. Lastly, we wanted to understand our roll-out plan for each of these products or services. We examined certain factors that may influence that plan and then put some target dates or periods on those launches.

How did you do?

If you followed the prompts in the course so far, you should now have a completed the Products and Services sections. You may have completed the worksheet or noted down the answers to the activities for inclusion in your Business Plan later. Next, we’ll get started on: Your Industry.