Product/Service Module 2 Business Plan Course Ryan Murray MBA,CBA

Understanding the Product Service Relationship Product Service Market Sales Profits “Write your section on Product/Service in terms of Revenue”

Revenue Streams Each Product and Service generates a revenue stream Total Revenue $$$ $ $$ $$$

80/20 rule 80% of your revenue should come from roughly 20% of your products (inversely: 20% of your revenue should come from the other 80%)

Product/Service Guidelines I have to actually be good at what I do to have a core competency I should reach “Break even” with my core competency I can have multiple revenue streams that create my core competency All of my products/services should relate well with my mission and vision Focus on the 80% revenue not the 20%

Competitive advantage As of April 2011, Google had 65.4% of the market share, Yahoo had 15.9% and Bing had 14.1%. Yahoo and Bing together made up just less than half of what Google had.

Homework Describe your product/service(s) Revenue streams % of total revenue Create a list of your primary competitors offering the same or similar product/service(s) Write your competitive advantage in terms of what you can be the best at