A range plan is an essential tool for any product business. Without it you are setting yourself up for failure.

Yet many of the small businesses that I speak to that are developing products say they don’t have a range plan. Or they don’t even know what it is!

So in this episode, I explain what a range plan is and why it’s a valuable tool for our business.

And if you really feel like geeking out on why you should not offer your customers too much choice, take a look at this study I mention in this episode.

Discover:

• What is a range plan? 01:45
• How a range plan can help you to calculate how much you need to spend on stock 03:08
• When should you create a range plan? 03:28
• How a range plan helps you to assess whether you are offering your customers too much choice 04:28
• What to include in your range plan 05:58
• How to work out how much you need to invest in stock 07:19
• What's the best way of creating a range plan? 10:15

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