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

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