- TEAM PRODUCT OR SERVICE DESCRIPTION—REVIEW THE MATERIAL IN THE PROBLEM AND THE ANSWER TAB OF OUR COURSE TO HELP YOU SELECT A BUSINESS IDEA.
Describe your product or service idea. How does your concept solve a problem in the marketplace? Is your solution unique? If not, how will you differentiate yourselves from the existing competition? Make sure you identify the intended target audience. Include a mission or value statement which outlines your company’s guiding principles and priorities in delivering the product or service. Your instructor will review this information to approve your business idea.
Meadery* – Mead is the nation’s number 1 fastest growing segment of alcohol. Mead is made from fermenting honey and water either alone or with spices or fruits. Although the segment is growing, there are only a few meaderies, if any, in each state. If customers want mead then they are forced to drive several hours and often across state lines to get some. Very few meads are sold in liquor stores. With the industry being in the early stages of its lifecycle there is immense potential to grow and get in on the ground floor while others are still learning what mead is. Selecting the right area could yield amazing profits.