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| Product Basics |
| Products may be described in terms of their features and benefits. Features are product characteristics; benefits are customer needs served by those features. Some examples of features are size, color, horsepower, functionality, design, hours of business, and fabric content. Benefits are less tangible but always answer the customer's question: What's in it for me? |
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productbenefits , differentiation |
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| Protecting Your Ideas |
| It's not easy to think about ideas as property, but for some businesses it's vital. Most of us have had an idea for a new product or service only to dismiss, postpone, or neglect it. Sometimes we later find that others had the same idea, but took it to market before we did. By that time, it is too late for us to take advantage of the idea. |
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trademarks , copyrights , patents |
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| Buying a Franchise |
| n important step in the small business start-up process is deciding whether or not to go into business at all. Each year, thousands of potential entrepreneurs are faced with this difficult decision. Because of the risk and work involved in starting a new business, many new entrepreneurs choose franchising as an alternative to starting a new, independent business from scratch. |
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BuyingaFranchise , franchise |
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| Buying a Business |
| Many find the idea of running a small business appealing, but lose their motivation after dealing with business plans, investors, and legal issues associated with new start-ups. For those disheartened by such risky undertakings, buying an existing business is often a simpler and safer alternative. |
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buyingabusiness |
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plan , outline , businessplan , presentation
business , financial , forecast , capital
operation , property , location , production
facility , team , skill , manage
staff , market , competitor , product
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