How to Write the Products and Services Section of Your Plan
A complete business plan describes what you sell: either products, services, or both. This section needs to be more than a simple list of what you provide. It should detail the problem you’re solving, the value you provide, how it compares to the competition, and logistical information like pricing and distribution.
Learn how to go beyond simple product or service descriptions and create a compelling narrative around what you intend to offer.
What to include in the products and services section
What you add to this section fully depends on how much information you need to include in order to fully describe your products and services. While you may end up not including everything, it will benefit your business to work through these common topics.
Optional information to strengthen your product and services section
While not required, there are additional pieces of information about your product and service offerings that you may want to include. These can be especially valuable for convincing investors that you have a business worth investing in.
Demonstrate business traction
Traction is an early indication that customers are eager to buy what you’re selling. Early sales, pre-orders, sign-ups, or contracts are just a few ways you can prove your idea has merit.
Why is the products and services section important?
The products and services section of your business plan provides the chance to describe why you’re in business. This will range from specific product or service details, such as pricing information, to more personally driven elements like your mission statement.
The point is that you need to paint a convincing picture, both technical and sentimental, of what you offer, how it works, and why it’s valuable. It needs to be a section that stands on its own and that is fully supported by the other sections of your plan.