Chapter 6 New Product And Business Idea
A Proposal is a business plan written with the intent to attempt to secure investments for your business idea or product. There are many ways to construct a proposal. One of the steps in writing a proposal is to find the feasibility or worth of your idea or product.
Question 1. What is a proposal?
Answer 1. A proposal is a business plan written with the intent to secure investments for your business ideas.
Decide on a new product or business idea. Try to be unique and original as possible. Answer the questions below that will help you realize the feasibility of your product or idea.
1. A thorough description of the product:A) It’s use/purpose B) Why is it useful?
2. Who would buy this product or patronize this business?
3. What makes this product/business/service “Stand Out” from the rest?
4. Come up with a slogan or logo for the product/business/service if possible.
5. Who is the competition?
6. What are the advantages and disadvantages in comparison with the competition