From the course: The 45-Minute Business Plan

Product or service description

From the course: The 45-Minute Business Plan

Start my 1-month free trial

Product or service description

“

- Product or service description. Now on to what most of us would consider the fun part, which is bragging about our product or service. Be aware. You want to keep this content professional and fact based. Speculation is implied with some of it, but it must echo the research you present. Begin with a statement of general product or service and its purpose for the end user. Remember the elevator speech approach here. You are going to break down the specifics afterwards. An example might look like this. ABC is designed and manufactured for the purpose of eliminating pain. We use the purest ingredients backed by the FDA to ensure they meet the highest quality standards yet exceeds all safety requirements to provide our customers with the highest amount of pain relief. Through advanced technology, we are able to bring ABC to the market with low manufacturing cost while keeping retail prices competitive through streamlined marketing. ABC will revolutionize the industry using our patented, scientifically proven formula, which is the most effective for eliminating pain. With our simple order processing method and no needed oversight by medical professionals, ABC will replace XYZ within two to three years. From there, you'll begin to break down the subsections. Some examples may include manufacturing, chemicals or materials used, product or service benefits, product or service features, technology used, product or service functionality, patents, and more. These subsections are strictly your ideas on how the product or service is to be presented. Anything you feel that can set you apart from your competitors is important to showcase. At the same time, covering the basic components of the product or service. Keep it simple, but keep it enticing and informative.

Contents