Photo by LARQ on Unsplash

Don’t launch a business, launch a product | key strategies when starting a business

Often in business, we entrepreneurs are concerned with the end goal. “I want to be in business”, “I want a six-figure business”. We can get so caught up in what we want to achieve that we often forget that each stepping stone is vital and not one can be skipped.

 

In this video, we’re looking at the 5 questions you need to ask yourself when you’re launching a product/service. A few of these questions might seem obvious to you now, but ask yourself; “do I know the answer to these questions?”

 

 

Questions covered in this video: “Don’t launch a business, launch a product”

 

1. What the heck is it?

 

What are you selling? It might be a program, a 12-week course, a book… Whatever it is, get clear because it won’t be all 3.

 

2. Who is it for?

 

If you make a product for ‘everyone’, it will serve no-one. Really define who your product is for and then target your marketing to them.

 

3. How much is it?

 

If you’re not ready to give a realistic quote or put a number against it, you’re not ready to launch it. Figure this step out, and remember to charge your worth.

 

4. How will people buy it?

 

Again, could appear to be obvious, but make sure you work this out. Will you use PayPal? Will it be a card payment? Decide on the outcome.

 

5. Why should someone buy it now?

 

Come up with 10 reasons and 10 benefits that your product or service will have on the consumer. Once you’ve worked that out, come up with 10 outcomes for anyone purchasing it.

 

These are all vital steps in the process of starting up, because, without a product or service to sell, you can’t have a business. Pull your focus on that.

 

 

Photo by LARQ on Unsplash

 

 

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About Lisa Bean:

 

Lisa Bean is passionate about teaching purpose driven entrepreneurs how to build scalable six figure businesses. She is the founder of Start Up School [TOC] and Expansion Business School [EBS].

 

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