Your Product Plan
episode #816 -February 12, 2023
HOST: Lorraine Ball
Your product plan should explain how you solve customer problems, now why a particular feature is cool
As you start working on the product portion of your overall business plan do not start with the features. Go back to your customer research. What is most important to your customers? Focus on the elements of your product or service that line up with those needs. Demonstrate how the features that you are selecting for your product or service help you achieve something customers are going to buy because it solves their problem
This can be everything from the physical product, to the warranty, to how you package it or deliver it. Focus on a few things that are unique to you because otherwise you are a commodity. There’s no reason for someone to pick you versus your competitor if your are a commodity.
Outline how you think you will roll out enhancements and new products features to give investors and lenders an idea of where your business is going and how how your products may expand over time.
Ready to work on your plan? START NOW
about the marketing minute
Each week, host Lorraine Ball shares just a few words on a marketing topic. She boils down creative ideas, practical tips, and decades of real-world experience into a mini podcast which is always less than two minutes.
Look for these mini bits of marketing inspiration every Sunday. Then come back and enjoy the longer interviews every Thursday.
Look for the mini podcasts and full episodes on iTunes, Spotify, Google Podcast and wherever you listen to podcasts.