Latest revision as of 20:01, 27 August 2020

In The Personal MBA a product is defined to be one of the Twelve standard Forms of Value (Form of Value #1 of 12)

Key Points:

Product-oriented businesses need you to:
- Create something tangible that people want.
- Produce it as inexpensively as possible while also having an acceptable quality.
- Sell as many units as possible, at the highest price possible for the market.
- Keep an inventory to deal with future orders.
There are many kinds of products, like durable products, or consumable products, or even not physical products (think MP3).
Products can be duplicated, multiplied, and therefore they scale better than other forms of value.

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-Product
+In [[The Personal MBA|The Personal MBA]] a ''product'' is defined to be one of the [[Twelve standard Forms of Value|Twelve standard Forms of Value]] (Form of Value #1 of 12)
+=Key Points:=
+* Product-oriented businesses need you to:
+** Create something tangible that people want.
+** Produce it as inexpensively as possible while also having an acceptable quality.
+** Sell as many units as possible, at the highest price possible for the market.
+** Keep an inventory to deal with future orders.
+* There are many kinds of products, like durable products, or consumable products, or even not physical products (think MP3).
+*Products can be [[Duplication|duplicated]], [[Multiplication|multiplied]], and therefore they [[Scale|scale]] better than other forms of value.
+=Questions for Consideration:=
+* Does delivering value as a product make sense for your business idea?
+* If so, what do you need to plan for to make it successful?
+Source: http://book.personalmba.com/product/
 [[Category:mbi]]