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Technology And Products Seminar

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Seminar Description and information about how to describe the technology section of a business plan

Seminar Description and information about how to describe the technology section of a business plan

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  • 1. Technology and Products Introduction to the Seminar Ólafur Andri Ragnarsson Copyright © 2009, Ólafur Andri Ragnarsson
  • 2. Technology and Products  Seminar 06.06.2009  Teacher: Ólafur Andri Ragnarsson, Chief Software Architect at Betware and Adjunct a the University of Reykjavík  On-line profile: http://olafurandri.com http://twitter.com/olandri http://delicious.com/olandri http://www.slideshare.net/olandri andri@ru.is Copyright © 2009, Ólafur Andri Ragnarsson
  • 3. Objectives  To do a venture description and an analysis of the product, service or the technology of the venture  The aim is to describe the product or service in details from development to productions and to explain what makes it interesting and valuable for customers  Describe and analyze all the features of the product or the service and to identify the technological aspects of it Copyright © 2009, Ólafur Andri Ragnarsson
  • 4. The Project  The deliverables is a detailed product or service description and an overall description of the business venture Copyright © 2009, Ólafur Andri Ragnarsson
  • 5. Outline of the Day Copyright © 2009, Ólafur Andri Ragnarsson
  • 6. Product or Service Description Copyright © 2009, Ólafur Andri Ragnarsson
  • 7. Objectives  The purpose of this section of the business plan is to give the innovator and the reader of the business plan a clear picture of the product or service that will be offered.  There can be no doubt about what the product or service is, how it will be made, the uniqueness and what requirements are made to the product or the service or the new company Copyright © 2009, Ólafur Andri Ragnarsson
  • 8. 1) Description and Uniqueness  General description of the product or service – Explanation on why it will appeal to buyers – Important to emphasize what separates this product or service from other products or services in the market – In some cases the product or service appeal to buyer because it is more convenient the competing products or services – Explain the characteristics of the product or service that buyers are looking for and what needs of the buyers it is fulfilling Copyright © 2009, Ólafur Andri Ragnarsson
  • 9. 2) How is the product or service made?  For products – Explain how the manufacturing will be done  Keep this in mind: – What is the process? – Is the product based on new and unknown technology? – How is the manufacturing done, equipments etc? – Where and how to get the raw material for the manufacturing – Are special skills needed? Copyright © 2009, Ólafur Andri Ragnarsson
  • 10. 2) How is the product or service made?  For service – Describe step by step the process of providing the service  Keep this in mind: – How is the service created? – What is the service? – Are special skills needed? – Is special training of staff needed? – How will the service be evaluated? Copyright © 2009, Ólafur Andri Ragnarsson
  • 11. 3) Manufacturing  Describe the manufacturing process that is how the product will be manufactured  Here locations and housing must be explained as well as all equipments for the process, and the raw material needed, where they will be bought, how they will be shipped to the manufacturing housing Copyright © 2009, Ólafur Andri Ragnarsson
  • 12. 4) Service  Describe the service in details  Also explain the level of service, equipment needed and the housing needed to provide the service Copyright © 2009, Ólafur Andri Ragnarsson
  • 13. 5) External Considerations  This section must address any external consideration  These can be environmental due to location and housing, legal requirements and licences needed Copyright © 2009, Ólafur Andri Ragnarsson
  • 14. Think About This  Is the product or the service described in enough details so that there is no doubt of the purpose?  Is the uniqueness clear and position on the market  Is the description convincing enough?  Is the knowledge and skill required to manufacture the product or provide the service in place?  Are all external considerations thought of? Copyright © 2009, Ólafur Andri Ragnarsson
  • 15. Outline of the Day Copyright © 2009, Ólafur Andri Ragnarsson

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