7

Products and Services

Goals:

• Begin writing the Business Plan by modeling the Sample Business Plan format
• Answer three basic questions that a friend or business associate would ask:
  • "What kind of business are you starting?"
  • "Aren't there a lot of businesses already providing that product or service?
  • "With all those other businesses, why will people use yours?"
• Expand vision of business to include activities needed to:
  • Have customers initially contact the business
  • Have customers place an order
  • Provide ordered product and/or service to customers
  • Conduct post-service delivery activities

Skills:

• Succinctly describe product or service
• Conduct industry research
• Distinguish between service/product and service/product benefits
• Conceptualize and draw a relational flow chart

Overview:

Students begin writing the first four sections of their individual Business Plans.

• Section 1.1 Service (or Product) Overview
• Section 1.2 Industry Overview
• Section 1.3 Primary Customer Benefits Offered by the Business
• Section 1.4 Business Work Process and Flow Chart

This chapter highlights that each section of the Business Plan answers a natural question about the business. For example, the Service/Product Overview section answers, "What kind of business are you starting?" while the Industry Overview sections answers, "Aren't there a lot of businesses already providing that product or service?"

Initially, students read and discuss the respective sections of the Sample Business Plan focusing on both content goals and format. Students then prepare initial drafts of each subsection, share drafts with the class, receive feedback, and revise subsections.