Download: MP3 (48.6 MB)
Whether you’re in business to sell products or services, at some point you’ll need to decide what exactly you’ll be selling. Not only that, but as you grow you’ll need to decide what happens if you want sell more than one thing.
If you do decide to start creating more things to sell, it can be easy to lose focus on the bigger picture, which is understandable because you want to sell the best version possible.
Fragmentation starts to creep in, and while you’re busy making sure your new thing gets off the ground well, everything else just sits to the side, not being taken care of.
Knowing how to assign priority and where each new product or service fits can make or break the “structural integrity” of your business.
In today’s show, we’ll be talking about the importance of having multiple offerings or products and how to stay focused on what you’re doing when there are many things fighting for your attention.
Highlights, Takeaways, Quick Wins
- The purpose of a product is to keep the business in business, help people, or fund other products.
- Having multiple products can help solve more problems for your existing customers, or solve new problems for new customers.
- You may be ready to create more products when your first product is systematized to the point where adding something else would not impact that product whatsoever.
- If your other products still demand your full time attention, it’s probably not time to create a new product.
- Audit your product idea to make sure it’s cohesive with your brand.
- Make sure your other products are taken care of before starting a new product.
- As you start to work on a new product, protect your focus by arranging and prioritizing your work time during the week.
- Remember the bigger picture of your brand as you get into the details.
- Work on one thing at a time. It’s very common to have a bunch of ideas and work on each of them bit by bit, but ultimately never ship anything.