Create Your Dream Business Week 4!
This week we are talking about PRODUCTS!
Understanding what your clients truly need is the cornerstone of a thriving business. But here’s the kicker: many entrepreneurs make the costly mistake of assuming they already know. Let me save you from that headache right now. Here’s a golden nugget of advice that’s worth its weight in gold: ask them directly!
Yep, it’s that simple. Cut through the guesswork and go straight to the source. But you might be wondering, “How do I do that?” Well, hold onto your hats because I’m about to spill the beans on some savvy strategies that’ll have you tapping into your client’s needs like a pro!
Let’s do a quick review of where we are:
You have done an inventory on your strengths and identified ways you LOVE to make money. Next, we switched gears to detail your WHY statement. I know how difficult that is to do. Remember, your reason WHY may change and could be different for each client group and product. Which brings us to the 2nd part of last week. You profiled your ICA or DREAM CLIENT! Don’t worry if you are not finished with all of the above. Take your time and move at your own pace.
Review the previous week material, click the images below.
Week 4 – Brainstorming Product Ideas
This week we are talking about PRODUCTS!
What do your clients need from you? This is the most important question. Many entrepreneurs assume they know what their clients need. Big mistake. I’m going to save you time and frustration. Here’s some advice worth BIG BUCKS!!! Save yourself time and simply ask them what they need. How do I do that?
1) Put together a list of potential customers based on your ICA profile.
2) Reach out to them via (email, text, surveys, meetings, or calls). You are looking for information, so put on your detective hat and listen. Don’t try to sell or to convince them to buy your existing product or service.
Ask them what they WANT or NEED to make life easier? What keeps them up at night? What are their 3 biggest frustrations? Take note of ALL of their feedback to digest later. They may be hesitant to answer, so pay attention to phrases like:
- You know…I’m embarrassed to admit this but…
- I shouldn’t be superficial, but I’d love…
- I hate to say it out loud, but …
- If I could afford it, I’d love …
- I just need someone to step in and do…
3) Ask a few follow up detailed questions. Only ask a few questions – not all – so not to overwhelm. Here are some suggestions:
- What would save you time, money, or frustration?
- What product would make you happy or improve your life right now – today?
- If you could have this product, what would it look like, feel like, sound like?
- If it’s a learning product, what form is it in (paper, audio, or video)? What type of information needs to accompany it to help them (worksheets, tests, audio, ways to apply the learning)?
- If it’s a tangible product, how do you like to shop for it (in a store, online, or in home classes or parties)?
- Do you already have a similar product? Ask them what is missing that would make their experience better.
- What do they fear most from buying this product?
- You are trying to differentiate yourself from all the others out there in your niche. Dig in to find out what you need to offer that meets their needs better than the other guy/girl.
4) Combine this information with all the other information from these workshop activities (your strengths, earning methods, your WHY statement, and dream client profile) to create a list of potential products you can create or sell (if existing). List out the pros / cons, cost to create or fulfill, and rank it by enjoyment (scale of 1-5 with 5 being “I will hate this within 3 months”). Choose your top 2.
5) SWOT it – Identify the Strengths, Weaknesses, Opportunities, Threats of your product or service. If you are not familiar with SWOT, message me for more information. Email: askdanamitchell@gmail.com or check out my Services page.
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Let's work together!
I’d love to help you. I’ve created a service just for you since you’ve already gotten started via the workshop. Together we can fine tune and dig deeper to create your first product. Click here to learn more.