Planning the Business and Its Products or Services Custom Essay

A business exists to deliver products or services to the customer. To be successful, it must deliver these profitably and in enough volume to outweigh the costs associated with operating the business. It is important then that this section of the business plan receives careful attention and that the following questions are satisfactorily answered:

What – What will your business be selling to earn profits? What products or services will you provide your customers?
How – How will you provide these products or services? For example, will your business sell wholesale or retail? Will your business provide services for other businesses, or the public?
Where – Where will you provide these products or services? For example, a brick-and-mortar store, a website, a home-based business, etc.
Who – Who will be involved in producing the products or services? For example, will your business be the only link in the value chain to the customer or will it be only a part of a longer chain?
Why – Why are you providing the products or services? This should link to your mission statement. Why would customers buy your products or services as opposed to others?

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