Entrep 1

• 4Ms of Operations


  Method, Machine, Materials, and Manpower
• Product Description and Prototyping

  1. Create a product description

  2. Create a prototype
• Product description


  A format of presenting information about a product
• Purpose of product description


  • To supply customers with important information about the features of the product
• Product features


  The characteristics of the product that describe its appearance and capabilities
• Product Prototype


  The Merriam-Webster dictionary defines a prototype as an "original model on which something is patterned"
• Product features


  • Must be presented effectively to achieve business objectives
• Prototype


  A real-life, 3D version of your product idea that shows the basics of what a product will look like
• Design


  • Can improve the marketability of the product through its appearance
  • A distinct design may differentiate the product from others in the market
• Four broad categories of prototypes based on their function and complexity


  • Visual prototype
  • "Proof of concept"
  • Presentation prototype
  • Pre-production prototype
• Product colors


  • The use of the right color combination is appealing to the customers
• Visual prototype


  • Meant to showcase the size and shape of the final product, doesn't have the functionality, materials, or mass of the product
• Product quality


  • The collection of characteristics of a product that contributes to its ability to fulfill and meet the requirements of the end users
• "Proof of concept"


  • A rudimentary model meant to demonstrate the functions and feasibility of the idea, uses materials available at hand
• Product warranty


  • The buyer is assured that the product being purchased meets the specification stated in the product label
• Presentation prototype


  • A functional, presentation-ready version of the product that has the same appearance as the final product
• Guide in Writing a Product Description

  1. Define the buyer persona

  2. Create a list of features and benefits

  3. Define the tone of voice

  4. Create a scannable format

  5. Write the first draft

  6. Edit the draft to boost persuasiveness
• Pre-production prototype


  • A modified version of the presentation prototype with the same functionality but built using production-ready materials and methods
• Situationer


  • A businessman who sells bags online creates a description of his product to attract customers
• Advantages of prototyping


  • Helps test and rectify plan and design
  • Helps check performance of various products and materials
  • Helps describe theory more effectively
  • Encourages others to take project more seriously
• Product


  • Elle Shoulder Bag
• Product Description


  • Add a sophisticated vibe to your office wear with this well-made, modish shoulder bag by Elle. Synthetic leather, Nylon lining, Interior: slip pockets, zip pockets, Exterior: back zip pocket, Dual grab handles, Adjustable crossbody strap
• Qualities of a good prototype

  • Representation: Rudimentary representation of the actual product
  • Precision: More precise the better the response and feedback
  • Functional: Performs basic functions of the actual product
  • Improvision: Can be improvised on with minimum effort
• Prototype


  A working model of entrepreneurial ideas for a new product
• The entrepreneurial mindset involves being innovative, taking calculated risks, having a strong work ethic, and possessing leadership skills.
• The entrepreneurial mindset involves being proactive, innovative, adaptive, risk-taking, and having an openness to change.