Monday Challenge: Writing a Business Plan: Week Three

Products

So far in our series, we have created our Purpose Statement, our Vision, and our Monetary Goal. Now let’s take a look at our products.  We want to answer these basic questions:

What am I selling?
What makes my product special?
Who is the competition?
Who are my customers?

It is easy enough to answer the question “What am I selling?”  We are selling handmade widgets. But.
Not only are we selling handmade widgets, we are also selling the idea behind our widgets.

To get a better picture of this, let’s look at Coca-Cola, an American icon. They sell soft drinks. But they also sell good ole’ wholesome fun; happiness (Have a Coke & A Smile); warm and fuzzy good feelings (Mean Joe Green, Polar Bears, Sundblom Santa, I’d Like to Teach the World to Sing, Fireworks Breathing Dragon). And, the soft-drink buying public most often chooses the product (brand) that will give them the fun, the happiness, and the warm and fuzzy good feelings.

Now let’s apply this to our own products:

Not implying by any means that I have this down pat, but let’s use my shop as an example:

I am selling handmade crochet housewares and accessories (and soon, soap). I am also selling the idea of quality, old-fashioned, farm-fresh, Southern goodness; Americana. That is what I want buyers to associate with my products (and the Pomegranate Farm brand), and I try to convey those ideas in everything I do – from the look of my shop to my photos to my listings.

Laura did a very good job of conveying what she sells when she wrote:

Laura’s Paper Creations creates and designs paper products that help you connect with and celebrate others. Using varied stamping and paper techniques, quality materials and creating clean and simple designs, items are created with the purpose of connecting you to the world around you. Items are both ready made and custom designed with an eye to detail and a goal of exceptional customer service.

So our challenge is to write a brief summary of what we sell, including both products and ideas!

Come back to this thread to discuss.

To be continued…

Until then: Study the (Etsy) competition for your products.

______________________________

Apologies for the brevity of this post. I will try and continue this portion of Business Plan Writing later on in the week…. because that trunkless elephant awaits us!

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