• Anshita Kapoor

Characteristics of fast growing companies- Part 3

The Products and services

A successful product quickly acquires new users/customers and delivers consistent value. The companies with good products have been able to increase the customer base easily in a short span of time and outperform their competitors.

The main lesson for this is to keep the ease for your customer in mind. Because, PEOPLE LOVE EASY. If your product solves a new problem that can make consumers’ lives easier, or if it solves an existing challenge in a more convenient and user-friendly way, your product is on the right track. All the successful leading products are the ones which are user friendly.

Give a reason to your customers to keep coming back and stick with the product. New content, an enjoyable experience, or a lasting challenge may all call a user back.

Launch something which is one of a kind. Outsmart every other product. For example- IPhone. This product has such a grip in the market that because of its unique and one of a kind features ,its customers are loyal to it.

Advertise your expertise, experience and accolades. Share everything that you hold, like awards, testimonials etc. This gives your customers the confidence that they need to choose your product.

And finally, be consistent with your marketing and the quality of your product.

Afterall the business plan products and services section is the centerpiece of your plan. While other sections of your business plan are important, the products and services section is the essence of your business and the point around which every other part of the business plan is built.

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