First, come up with an idea. Developing the product or service is the first step. You need to create something UNIQUE and WORTH BUYING!
- What are the features of the product or service?
- What is the design the look (packaging) of the product? Outline its purpose.
- How is this different from products or services that already exist in the market?
Next, think about your customers
- Who would your buyers be? Describe them; men or women, children between certain ages, someone with an exceptionality etc. Outline how this product is directed AT THEM
- Based on this, what would you charge for the product?
- Do you have a patent? (Say you file a patent for the product. It stops others from developing a similar idea!)
Developing your company behind the product
- Come up with a name for your company.
- Come up with a slogan for your company and the product.
- Do you have a logo?
Now test out the market
- Have a friend or family member use the product
- What did they think about it?
- You may want to include them in your presentation as a firsthand account. Or you can have quotes from people who tried it and loved it
- How many of this product do you want to make?
- How much will it cost you to do so?
- Consider employees needed, a space to make the product in, how much you will sell it for to make a profit, etc. YOU WANT TO GET PAID
Now create your presentation, practice, and get ready to pitch this idea!!!!!
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