Congratulations on wanting to define the products and services that you will be bringing to market. This is a big step because it is here that you start getting clear about your solution and what will go into your products and services. This worksheet looks at the six aspects of what you should consider when defining your solutions. We cover these in more detail in Chapter 4 of the guide which is all about Products and Pricing.
You will be starting to think about your pricing, the resources and the activities that you will need to do in order to bring these to market. The six elements of the worksheet are:
- Name of your Product or Service
- Description of your Product or Services
- How much you will charge
- How it will be delivered
- How often it will be delivered
- The revenue type of the Product or Service
It might only be one page, but there are a number of bigger considerations that go into it and that is the purpose for the worksheet. To have you start thinking critically about these points.
Pricing
When you know the timing and delivery methods that you want to use then you’ll be able to really start thinking about costing and your choice of suppliers. This is a big step and where the operations work really begins. This is critical because you have already named a price of what you want to sell the product solution for. Normally the price that you want to sell it for will be market driven.
There are a number of different factors that go into this, more than can be explored here, but your business model will be the driver for your choice of pricing approach.
Cost management ensures that you are able to deliver your product solution within the price and still make sufficient profit to justify the investment in the business.
Here at Bee Group Accountants we love small business and aim to do everything we can to support the people behind them. We show this support by giving you a bunch of other tools and resources as well to start your journey. If you would like personalised assistance in this complex topic please contact our office to arrange an appointment.
How to Start a Small Business in Australia
Have you read through the guide but would like to learn more about just how to get your business started? Then keep an eye out for our workshop on How to Start a Small Business in Australia. You will find upcoming dates in the Events section of our website.
This workshop is a hands-on, guided implementation of all of the steps in the Complete Guide with hints, tips, tactics and strategies all there to help you shortcut the path from idea to market. These are run in-person and also online. There are minimum numbers for the event so if you are interested just get in touch and let us know.
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