Business Plan - Product/Service Description

Products/services and the management team makes the company successful. Business startup like ours, has an idea to nurture and develop it into a product or a service. A Venture capitalist, however views your idea as an outsider, hence he needs explanation of this idea in layman terms. Let me be clear, I do not intend to underestimate knowledge level of Venture Capitalists. They are smart, very smart, that is why they have deep pockets. All I say, idea should be explained in easy to understand terms to ensure there are no doubts or misunderstandings in the mind of VC.

Product / Service Description: BusinessWorks intends to create a solution, which will help transportation sector in two areas. One is tracking of commercial vehicles and other is to analyze the tracking data for the purpose of improving driver efficiency and route optimization. This solution will consist of Radio Frequency Identification (RFID) tags, Global Position System devices, RFID Readers and the software to capture and analyze the data received from these devices. Although this solution will have substantial cost attached to it, benefits will far outweigh the costs. Implementation will involve attaching either an RFID tag or a GPS module to every vehicle in the fleet. Each vehicle will then broadcast it's position and this raw data will be collected and fed to our Analysis program, which will generate meaningful reports and help in decision making process. RFID and GPS hardware will be purchased from reputed vendors and software will be developed in-house. However, complete solution will be provided to the customer with full support for the hardware and the software.

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