How to present your product idea.As we pointed out previously, in this point of the Business Plan we must clearly and easily demonstrate how our Idea solves a specific problem. We will use arguments that can be understood by those who are not experts.
Consider the following steps:
– Point out the problem and its solution.
– Describe the innovation of the idea; explain to what extent our solution offers to the client a unique utility, which must be quantified. It is necessary to take in count that the products are not sold so what they are, but what they can do by the client, that is: by the utility that will mean and for the needs that will satisfy.
– Transform the characteristics of our product in benefits or advantages for our clients.
– Include a detailed description and denomination of the product, in which describe its life cycle. Is important to refer to the value added that we will give to the product or service and the advantages it has our country to achieve it.
– Indicate the registration status of ownership and, if applicable, details that contains.
– Communicate visually. That is, a product image, a photo of the prototype or if it’s a service, a filming of the service in action. An organization chart of the system could also help the reader to get an idea of what we have in mind.
– Avoid explaining the details technical, as they are of no importance for most people. However, if the product or service has a basis important technology, make a glossary, brief, concise in which in the most simple concepts are explained without which would not be possible to understand the idea of the product or service. “He who explains is complicates ”, think of simple words in a short and understandable text.
In all cases, it is always important let another person see and read it who does not know nothing of your project and so you can test and measure the understanding of this point as important in the development of the Deal.
About confidentiality:
Lawyers, accountants and bank employees are required by law to respect the business confidentiality of your customers. To investors of venture capital also interested in keeping the confidentiality of your ideas customers. However, the best way to protect your idea from product or service is to put quickly put the idea into practice.
Go from this point to a company successfully requires a huge effort – known as “the overcoming the barrier entrance. “This is to discourage possible plagiarism.
The future of the business depends on the quantity and quality of these economic exchanges made based on the sale of the product or service; so it turns out there is to give the product all the importance that it has.
Some entrepreneurs tend to believe that your product is the best – and you can that technically it is- and that simply for that reason customers are going to go in droves to buy it or work on a product that has worked fine for years, but that doesn’t necessarily work well nowadays. These errors they can fail a whole draft.
It is advisable to keep the eyes wide open and observe constantly behavior market and become familiar with the life cycle concept product.
To remember what what is important:
• What problems does the idea solve?
• What customer need
satisfies?
• What type of product or service
we want to sell?
• What exactly is
offers?
• What is innovative about
product or service?
• Is it a unique product or service?
• How will your uniqueness be protected?
Measure the success of a product:
When we develop the idea of our product or service, the people around us tend to give us your opinion. Many times we are so put into our product or we have analyzed it so many times that we don’t know if those contributions they really have value or not.
For this, there is a table that allows us to measure certain factors that are critical at the time of finish or polish our product or service idea.
