Doing Research

Production Process

• Detail your production process – Be Specific
  • Describe how your product or service will be made from start to finish.
  • Identify problems that may occur with your process.
• Identify all the laws and regulations within your industry and explain the steps you have already taken to comply with these laws.
• Provide the names of all of your suppliers, the arrangements you have with them, and a description of…
• Prices, terms, conditions.
• Don’t forget to include a list of back up suppliers. – if applicable
• Describe the layout of your facility (diagrams help).
• Examine the size of your location.
• How much is it worth?
• Specify the equipment you need and why.
• Include a list of equipment already owned and that which needs to be bought.
• Make a list of your assets – Land, building, inventory, furniture, vehicles, etc. Describe the worth of each asset.
• Determine the levels of inventory you need and why?
• How will you keep track of inventory?
• How long does it take to get the inventory you need?
• Clarify what quality control standards have been developed.
• What are you going to do to ensure that your product meets your quality standards EVERY TIME?
• Consider what are some of your business’s potential “Risks.” How are you going to do to prevent them?
• Determine how long it takes to produce your product or service.
• Consider whether or not you need to do any price testing, product testing, or prototyping. This is where it is explained.