When you’re getting ready to launch a business, listing products and services is fundamental to your:
- Marketing Activities;
- Pricing and profits;
- Business Operations;
- Clarity and business vision.
What this means is that it’s essential you allocate time to focus on preparing as comprehensive a list as possible.
Here I look at:
- What to include when listing products and services;
- Offer some helpful hints to make the task easier;
- Show you an example to demonstrate how it should be done.
What to Include when Listing Products and Services
Your list of products and services is exactly what it sounds like – it’s everything you plan to sell in your business.
The list should ideally include the following:
- A description of each product or service you intend to sell;
- Estimated pricing for each item;
- Competitor products and pricing;
- Description of how your products and services differ from the competition;
- How you will supply or produce your product or service.
Make sure you include everything you plan to sell in your business.
The length of your products and services list will depend on the type of business you plan to start.
Many people end up with a huge list of services and products. That happens, especially if you are passionate about your business idea.
The Outcome of Your List of Services and Products
Use the list to identify which products and services are:
- easy to sell;
- cheap to deliver, especially if you are on a tight budget while you get up and running;
- more profitable than others;
- a timeline for launching each product or service
An Example of Listing Products and Services
The Service List for a bookkeeping business would look something like this:
Bookkeeping Angels will provide bookkeeping, payroll and tax return services. The typical customer will run a small business and is seeking a competitive price for outsourcing their administrative requirements.
The following is a summary of the services Bookkeeping Angels will offer:
|Service||Service Description||Price||Competitors||Launch Date|
|Bookkeeping||Hourly bookkeeping||£x||ABC LLP||Month 1|
|Payroll||Monthly payroll services||£x||CDE & Partners||Month 3|
|Tax Returns||Personal Tax Return Filing||£x||XYZ Limited||Month 6|
- New customers will be offered one month free trial for Payroll Services and One Hour Free Bookkeeping
Bookkeeping Angels will make itself more attractive to customers over its competitors by offering:
- The ability to book services online
- Accepting credit card payments
- A dedicated qualified professional to handle their affairs
Anita is a Chartered Accountant with over a decade of experience taking self employed business owners from financially confused to business savvy.
She is the creator of the ‘Go Self Employed’ website, which her corner on the internet where she makes self employment less terrifying.