Adding a New Product

I started shopping around for some solar panels yesterday.

Being able to use the power of the sun as a source of energy to power the creature comforts of our life is fascinating to me.

Several years ago, I owned an RV with a solar panel mounted on top that helped charge the coach batteries. It was a very cool set-up and I learned a lot, from a combination of necessity and curiosity.

The RV went away and with it my interest in solar energy, which had become a hobby. I had bigger problems in my business and something had to go.

As I have eliminated some distractions in my life, my interest in solar power has returned.

Eliminating the distractions gave me energy for something that I am excited about.

The same applies to business. Last week I talked about eliminating low-value things to free up your energy and time for the high-value things in your business. As I promised, today I want to talk about how to add something to your business.

If you eliminated something of low-value, like I talked about last week, then you are ready to add something.

When most of my clients start working with me they are passionate about adding something to make their business grow. And all of them are already busy, and simply adding something will not work. Subtracting something first creates the space necessary.

Hopefully you are convinced at this point. Now, how to add something.

Most people want to follow the big business model of a detailed plan, promoting through mass media including digital channels, making videos, and the list goes on and on, – and the bank account gets smaller and smaller.

Forget all of that. We don’t have bottomless pockets.

Instead, take your idea from one of these “buckets” and test it.

  • What to do more of…
  • What to start doing…

You test it by creating a one-page plan, in writing, and then selling your plan to 10 prospects. They will either buy your idea, or give you great valuable feedback, or both.

Your product may be the best product in the world, but if no one is interested in buying it there is no business opportunity with the product. It’s not a business unless you have a customer.

Savvy small business owners introduce new business using this technique all the time. Once you have 10 people paying for your service then you will know your market and then you can make wise investments in marketing and product development.

To explore this concept deeper and read about a real-life example, check this post out. (The post is how we added Personal Training to our group class program which was taught by staff very uncomfortable with Personal Training.)

Remember, you will only get results from this exercise if you take action on a consistent basis.

To your success!

Ron
Force Multiplier for the Fitness Professional
6-Figure Trainers and Coaches