03 May WILL YOU HAVE DIFFICULTY SOURCING RAW MATERIALS/INGREDIENTS?
In an introductory paragraph, write a detailed description of your product that answers these specific questions. Consider this as a written “product pitch”. Engage your reader.
What product are you making?
What are you calling the product?
Who is your intended market?
What distinguishes your product from competitors on the market? Why do you expect this product to be successful?
Where is the product going to be sold?
Mentorship:
Please consider the lessons we have learned from each of our guest presenters and how their experiences and insight might contribute to the success of your product.
Dedicate a page to each guest, identifying their business and product
Identify a major theme from their presentation that you found most interesting and pertinent to your project
Explain how their experience might help you to make certain decisions regarding your own business
What is the takeaway lesson?
Extension:
Finally, please consider the following: your product is a huge hit! The phone starts ringing off the hook with orders from all of the aforementioned markets….you need to start fulfilling orders asap! What steps will it take to “ramp up” production?
Will you have difficulty sourcing raw materials/ingredients?
Is your method/assembly sustainable on a large scale? What modifications might you have to make?
Will you need to hire additional staff?
What other problems might you encounter?
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