How often do you think of new products, services or IDEAS for your company?
What would happen if you were to pursue EVERY IDEA?
Here are 3 questions you can ask yourself BEFORE you roll up your sleeves and build a new offering:
- Is this new offering aligned with your core IDEA? Whether you are just starting out or you have a successful growing business, clarifying the CORE solution you bring to the market and staying aligned with it is critical to growing a scalable business.
- Is this product or service competing with something you already have? How many times do we set out to create new offerings, throwing away work we’ve done in the past? We set out to offer a new product or service that is very SIMILAR to something we created before and yet we decide to start from zero every time.
- Will this product or service contribute to sales for any other products/service? I speak a lot about this when I teach about scalable business models. Each product or service you offer needs to be strategically positioned to service the needs of your clients. Whether it is an entry-level product or service (low investment, easy to commit to) or a higher ticket offering, your clients will likely either start at the bottom and work their way up or start right at the top. However you design your product offering, make sure that each fit with the other like a well planned out puzzle.
As an entrepreneur, creativity is one of your strongest traits. Don’t let it be your weakness by following every spark of inspiration.
Warmly,
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