There you are with a market you are about to sell to. But before you launch whatever you want to sell (product or service), it is important to know you are selling the best deal in town.
Don’t make the mistake most small business owners make assuming that, with an ideal market on ground, their product will be the best deal since sliced bread.
Please, don’t do that. It is very risky. I don’t want you to come back here and start crying. Lol.
There are few important things to know about your product or service so you won’t be disappointed after launch.
In creating a successful business, you typically have to start with one product or service, your front end product or service.
It is the first product you introduce to your customers.
When I started my business, I was rendering hardware and software technical assistance on laptops and mobile phones for free.
Your front end product or service can be free or paid for. Its main importance is to create awareness that you are about to get a space in your customers minds.
So what kind of product or service should you create?
Your Product Or Service Must Be Aspiring
Any product or service you plan to create must be able to do something and achieve its purpose.
Everybody wants to buy anything that will fulfill their desires. From consumable products to helpful services, it needs to meet a need, deliver a help and have a benefit.
Don’t create something that only inspires and merely make people hopeful and fired up.
Let it go beyond inspiration. In the case of rendering a service, show your market “How To Do” stuffs that will meet a specific need or desire.
Let your service be one that make them move forward and make progress past a level, giving them a new experience of awareness, comfort or pleasure when used.
Your Product Or Service Must Be Of High Demand
When you have a product or service of high demand, it makes the job easier.
High demand products and services reduce advertisement and marketing cost because you are most likely to have a starving market.
A product or service in high demands also produce money in large amount if advertising and marketing is intensified.
We now have the Internet where you can reach large number of people in the shortest time possible. If what you are selling is highly demanded for, you have the ability to make huge amount of money.
One of this age money masters, Frank Kern once created a campaign via the Internet that pulled in $1.4M within 24 hours. If what he offered wasn’t in high demand, that may not have been possible.
Your Product Or Service Must Be Long Term Relevant
If you are working towards building a successful business, this is one important thing to know.
This is why I personally don’t advise people to build businesses on Multi Level Marketing and Networking opportunities. They are great business opportunities but will not guarantee you a long time existence.
I know you are not on my website because you are looking for the quickest way to make money neither are you planning to start jumping from one product to another.
If you want to have a successful business you will be proud of in future, build it on a product that will survive longterm because if you have a product that will stay for a long life span, then you also have a business that will last a long life span.
Does your product or service going to be relevant in 1 year, 2 years, 5 years, 10 years?
Your Product Must Be Scalable (Ability to switch forms)
Let’s say you want to start selling to car owners. Your products are what automobiles need to function effectively, right?.
Now, I can decide to sell wipers, head lamps, windscreens, side mirrors, dashboard polish, car wash, foot carpets and so on because I have a scalable product.
You may decide to start with car wash as a front end product. But as you begin to build your market together with your product, you can introduce a new product to your market, let’s say dashboard polish.
Scalable products allows your market to move up higher with your business. In marketing, it is called ASCENSION.
With each new product introduced, they ascend and move up your funnel, paying higher while experiencing a newer, better and more convenient level of service, progress and achievement.
Scalable products and services build trust. As they move up the ladder by buying fewer of your products or services, they also become fewer in size and if your prices get higher, they still buy from you because they trust you for whatever you have for sale.
Can you write down at least 3 – 5 products you could create in future? Will you be able to come up with fresh content for your services?
Your Product Or Service Must Be of High Quality
I love this about the product or service you must sell. Personally for my business, it has been a cheat for quality money.
People have developed this belief that “the higher the quality of a product or service, the higher the price”.
See…. clients or customers will pay any ridiculous mind-blowing amount for whatever you offer them to buy as long as they know it is of standard quality.
People want their needs met. Give it to them and you will be surprise they will come over and over again. When you have a high quality offer, it will easily stimulate word of mouth advertisement.
Your customers will unconsciously pull people who never existed in your market into it. They will tell everyone who cares to listen what you sold that has met their needs.
Now you are probably thinking how you have done the same thing to quality products and standard services you once bought?
Yeah. That is exactly how it works. *winks*
I know already you have a broader knowledge of the kind of stuff you want to sell. So before you set it out for launch,you should be able to qualify it to at least 2 of these features.
Do you think I just did a good job? What are your thoughts about this lesson? Let us discuss it in the comment below and ask questions if you have any.
Don’t forget to share with people you care about.