Discover the product in your business
Posted on July 14, 2016 by Samantha Gomez
I’m a big believer in developing a product that you can ‘sell while you sleep’ as a way of building and diversifying your service-based business. In this two part blog, I’m going to firstly show you how you can identify your product and then in Part 2 we’ll talk about how to market that product once it’s developed.
So let’s get started. What do you need to do to find your product?
The first thing is to step back from your business and take a big picture look at the service you provide. What do you actually do? What service do you actually provide to your clients? Try and think of it not in terms of ‘I’m a massage therapist’ but in terms of ‘I work with my clients towards their wellness goals and dealing with stress in their lives’.
Then have a good think about your clients. What information do you give them in conjunction with your service? What questions do you get asked over and over again, and what are your answers?
Talk to your clients directly. Ask them why they keep coming back to you, what their main worries and frustrations are and what outcomes they want.
And then ask yourself whether you can create a product to solve these.
You can also compile information you have learnt from others in a way that makes it accessible and relevant to your clients. Most people who are selling information products online didn’t invent the information themselves, they have recognized a need for certain information and are providing it in a way that people are prepared to pay for.
And don’t forget to go through your old notes – you’ll be amazed at the great ideas you have had and then forgotten!
Once you have thought through all the possibilities, gather all the information together and prioritize your findings in order of importance (or what people would pay the most money for). Try and find patterns in the solutions you provide, as that will lead you to a clear need and hopefully a product to meet that need.
You might well find you have too much information for a product but don’t panic, consider starting a series …
If you want to create a great product that people will buy you need to invest time and effort. But the rewards are fantastic and after all, there’s no point creating a product that nobody buys.
Have you created a passive income from your business?