Every company is trying to sell something - whether that is a pair of shoes, an electric vehicle battery, or some type of software or financial offering - your candidate company is selling something to its customers and generating revenue from those sales*.* What is the company selling? What do these products / services look and feel like? What are these products’ / services’ key features and financial metrics?
The Products section of the Endeavor profile helps Panelists answer all these questions and gather a deeper understanding of what, tangibly, the candidate company is offering its customers. Continue reading below to learn how to comprehensively and accurately complete this section 👇🏼
<aside>
<img src="https://img.icons8.com/ios/250/000000/waypoint-map.png" alt="https://img.icons8.com/ios/250/000000/waypoint-map.png" width="40px" /> Table of Contents
</aside>
ℹ️ What this section is all about
A brief summary of the purpose and importance of the Products section in the Endeavor profile:
- The purpose of this section is to delve deeper into a candidate company’s primary offerings. It is the official introduction to what the company is offering its customers and how these offerings look and feel like.
- Up to now, the rest of the profile has covered a wide array of topics - from team and market size, to industry trends and value proposition - all key, but not especially tangible. This section makes all of that tangible and provides the reader with the necessary information to understand and see what the company is actually offering.
- On top of communicating what the company is offering, this section is also a writer’s chance to provide Panelists with a look and feel of the company’s brand. Product pictures and descriptions help Panelists understand how the company is perceived from the perspective of a customer.
🪄 Filling out the Primary Products table
Read below to learn about best practices and dos and don’ts when filling out the Primary Products table of the Endeavor profile:
✨ Best practices ✨ (READ THESE IN DETAIL)
- PRODUCT NAMES AND PICTURES
- PRODUCT KEY FEATURES DESCRIPTION
- PRODUCT KEY METRICS
- Tips & best practices ✨
- Be objective and avoid sales-y language - it makes it look like you’re trying to sell something that isn’t there!
- Be concise - add only the information that Panelists will care about and don’t overwhelm them with information
- Be thoughtful about formatting - use consistent formatting across all products (especially for features) - bullet points work best in google docs, and in Open make sure you’re separating every sentence with a full stop.
- Be flexible and creative when needed - at the end of the day, the profile is trying to best adapt to tens of business models and countries, so you will come across companies that don’t fit the table well - use your best judgement and leverage the space that is there to be able to describe your company’s products in the best possible way (e.g., if you need to make a clarification about a product key metric, leverage the space at the end of the key features section to do so)
- Additional resources: Read these resources (one and two) to become an expert writer of product descriptions and learn about what matters when writing about a company’s product / service.
- Example of a well-written Primary Products table 👇🏼
https://docs.google.com/presentation/d/1JG4FpZGNjPeE_ZngJF6UFetUjz4QaaWAvOJ3luf_tBg/edit?usp=sharing
❓ What to do when primary products don’t match revenue streams
Read below to learn what to do when primary products don’t match revenue streams directly:
- When would this happen? Typically, a company will generate revenue through selling its products directly to customers. However, there will be cases where a company will monetize from something other than what it sells directly to customers. A good example of this would be a gaming company: its products are the games that have millions of downloads and monthly players, but its main monetization strategy is the ad space it sells to other companies for advertising. In this case, each game wouldn’t account for a specific revenue % because the revenue comes from the advertising companies, not the players of the games (the company’s clients).