- Your business plan needs to clearly define your product.…Explain the product in simple non-technical terms.…Avoid buzzwords and also assume…your audience is completely unfamiliar with your product.…Describe how that product solves a problem…and talk about the benefits in a very concrete way.…Allow me to offer two product descriptions.…Now this is for the same exact product.…The first example is, "We offer a best-in-class immersive…"learning experience that provides participants holistic…"approaches to bi-directional communication strategies…"that leverage market-driven insights resulting in learning…"uptake as demonstrated by elevated Kirkpatrick scores…"for 12 months post-intervention."…You have no idea what I sell.…
It sounded great as a product description but it's not clear…what the product is or what the benefits are.…Allow me to offer a clearer description of this product.…"We offer a full-day onsite training course that teaches…"participants a process for communicating more…"efficiently and effectively, resulting in shorter…
Author
Released
9/17/2015- Define the problem your business solves.
- Determine a product and revenue model.
- Build a go-to market strategy.
- Describe the components of a product development roadmap.
- Explain how to brand and market a product.
- List criteria for choosing suppliers.
- Identify common pitfalls of business plans.
Skill Level Intermediate
Duration
Views
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Introduction
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Welcome1m 11s
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1. Defining Your Business
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Sizing the market1m 55s
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2. Understanding Your Market
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How you rank vs. competitors2m 48s
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3. Defining Your Product
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Protecting your market2m 41s
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Developing your product2m 23s
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Delivering your product2m 4s
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4. Selling Your Product
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Pricing your product2m 36s
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Selling your product2m 20s
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Supporting your product2m 11s
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5. Running Your Operations
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Managing production2m 3s
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Managing suppliers2m 20s
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6. Managing Your Business
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Leading the organization1m 52s
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Getting advisors2m 2s
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Compensating leadership2m 13s
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Administration1m 20s
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7. Projecting Your Financials
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Financial assumptions1m 47s
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Financial forecasts2m 20s
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Capital requirements2m 27s
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Financial risks1m 50s
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Exiting your business1m 53s
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Conclusion
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Business plan pitfalls1m 54s
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Next steps1m 18s
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Video: Defining your product/solution