Product
& Service Description: Mistakes to Avoid
The following are the some of the most common
mistakes we find in the product and service description section:
- Failing to identify the benefits of the
product or service (focusing instead on the features)
- Describing the product/service in language
that is too technical, with too many many industry specific
words or phrases
- Omitting the specific problem the product/service
addresses and how that problem is solved
- Assuming an improved product/service
will "sell itself"
- Describing the product/service in terms
that are too broad
- Failing to include a third-party evaluation
or analysis of your product
- Underestimating the importance of legally
protecting your product/service
For more information about preparing the product and service
section of a business plan, check out:
Email
us at BizPlanIt if you have comments or suggestions about
our Virtual Business Plan.
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