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This section consists of either a short paragraph or a handful of bullet points that concisely describe the
product and how it addresses the problem outlined in the previous section. It is best to describe the product
in terms of the benefits to the customer, instead of focusing on the features of the technology. Why would this
be better for the customer What could they achieve that they couldn’t before Include intellectual property,
if any.
For example:
PayPal provides an easy-to-integrate web-based payment service that can be used by any
merchant to accept payments over the Internet. Users create a PayPal account linked to their
bank account, and use it to pay for goods without revealing their credit card or banking
information. PayPal transfers money between customers and merchants, and protects both
parties from fraudulent transactions. Merchants get access to paying customers they are
currently unable to access without a merchant accounts, and customers gain the ability to
make risk-free online purchases.
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This section consists of one or two short paragraphs, or a handful of bullet points that define the market
opportunity that the product is designed to capture. It’s important to cover the estimated size of the market,
the estimated growth of the market, and the characteristics of the target customer.
For example:
Online retail sales in 1999 reached $X dollars, a growth of X% over the previous year. By
2005, Jupiter Research estimates that online commerce will comprise $X dollars annually, or
X% of all retail sales. Currently, only X% of the X small merchants making less than $X
annually are currently exploiting the Internet to reach customers online. In a recent poll, X%
of these merchants indicated their inability to secure a merchant account as the major barrier
to them selling online. A web-based payment processing system would remove this barrier,
and permit an estimated $X in additional online transactions to occur annually.
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Competitive Advantages
This section consists of one or two short paragraphs, or a handful of bullet points that define the merits of
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