“Follow your passion, be prepared to work hard and sacrifice, and, above all, don’t let anyone limit your dreams.” Donovan Bailey, Olympic Athlete
What would it mean to your life or business if you could earn $1K to $2K extra or more per month?
It would transform your world, right?
Imagine all the things that you could do with that money.
- Pay down debt
- Create a college fund for your child
- Create an emergency fund
- Have extra cash to invest into your business
All of this could become your reality via creating a simple yet profitable product. You don’t have to own a formal business to make this a reality.
Examples of simple and profitable products include: e-courses, a necklace with a simple design, a yoga mini-series with 2 videos, a social media marketing workbook, a PDF with step by step instructions to use a specific tool, etc. You can pretty much turn any skill you have as a simple and profitable product.
Here are 5 simple strategies you can immediately implement to create your very simple and profitable product within 30 days.
Strategy#1: Find 5 to 10 Hours Per Week To Build & Promote Your Product
Whether you are a stay at home mom or a working mom, as busy as you are, you can free up 5 to 10 hours per week to focus on creating your simple product and promoting it. That means working on it during your lunch break, finding 1 to 2 hours in the evening after everyone is in bed to work on your product.
Strategy#2: Have Conversations With Your Ideal Customers/Clients
You want to have conversations with your ideal customers to learn exactly what they are struggling with as it relates to the product you have in mind to create. if you create a product that provides your ideal customers a “quick win” in terms of a transformation they experience, you are guaranteed to make sales!
Strategy#3: Use The Information You Gathered Via Speaking With Your Prospective Customers
Now that you gleaned insights via speaking with your ideal customers, you can use that information to create your simple product which could be a necklace, a low cost gift basket, a workbook, a 2-video course, etc.
Strategy#4:Use As Many Free Tools As Possible To Create Your Simple Product
Whether you plan to create a physical or digital product, you need some essential tools to get started. You can get most of these tools for free, or at a low price. They include:
- Wix or WordPress for your website
- Google Word, Excel, and Powerpoint for your workbooks
- Zoom for virtual workshops
- MailChimp for an email service provider to send automated emails
- Canva or PicMonkey to create simple graphics
- PayPal to accept payments
Strategy#5:Create Beta Version of Your Simple Product
Before you fully launch your very simple and profitable product, test it out with handful of customers. After they use your product, get there feedback which you can use to modify your product.
Via implementing these strategies, within 30 days you’ll have a simple product that you can now easily sell. The video below provides additional details on the five key strategies you need to incorporate to build your simple and profitable product.
Step 3: Customize Your Products/Services
Take the market research that you did in step 2 and use the information to create products and services that will resonate with your ideal customers/clients, and get them excited about buying from you. This will increase the likelihood of your getting sales, and make you stand out from the competition. If you are engaged in actual conversations with your ideal customers/clients from connecting with them via social media, the information you glean is pure gold, as you are getting actual feedback about the products/services you are creating. You can tweak these products and services according to the feedback you get. This is how you will increase the likelihood of your ideal customers purchasing from you.
Now that you have a clear idea of the products or services you wish to offer, test them out in the market by offering a beta or test version. Limit the beta version to a few customers. Interact with your customers via Zoom, Skype, or Google Hangout, and get as much feedback as possible from them about their experiences with your beta-product. Did they like your product/service? Did your product/service solve their problem, for example, were your earrings the perfect match for their outfit, or did your guide to create Facebook ads help them make sales.
Now you’re ready to go to market full force.
Step 4: Create a Rock Solid Digital Marketing Plan
Whether you are selling products or services, make sure you have a rock solid digital marketing plan. Besides traditional marketing, which includes ad space in print media, television, direct mail, and telephone, use digital marketing to get yourself and your brand in front of your target customers/clients.
Digital Marketing: This includes every aspect of online marketing to connect with current and future customers/clients: Google searches, social media, email marketing, and websites. Whether your business is online or offline, most likely you will end up using all 4 methods to market your products and services. The majority of your efforts will focus on social media and email marketing.
The purpose of digital marketing is to attract traffic to your websites, sales landing pages, and social media so that your ideal customers/clients will connect with you and your business. You want your ideal customers/clients to get to know you and your business. The best way to do this is to provide content that helps your ideal customers/clients to solve a problem, that’s entertaining, and that provides food for thought and quick tips. Once they get to know and trust you, they will most likely be inclined to opt-in to your free content, view and like your product pins, take advantage of your discount coupons, and ultimately purchase from you.
If you are in the B2B or business to business space, leverage LinkedIn to build relationships with your prospective clients. Use LinkedIn Publishing to share relevant content. Send your leads valuable information related to their business challenges. Use Sales Navigator to keep up with the latest news or trends about your target companies and the relevant leads you saved. If any of your ideal customers are going to trade shows or conferences, reach out to them in advance and ask for a meeting.
You want to consistently provide relevant and valuable free content in the social media platforms your ideal customers/clients hang out in. This will lead to brand recognition, establish trust, and position you as the go-to expert.
Step 5: Create a Rock Solid Sales and Promotion Strategy
Use your rock solid reputation that you established in social media, including LinkedIn, to promote your products/services. Post your offers in your Facebook business pages, Facebook groups, Twitter, and via LinkedIn updates. Pin images related to your products and services and link to your sales page. Add images in your Instagram account, introduce your product, and share your link. Also promote your products via the other relevant social media platforms.
Social Media Ads: Use Facebook ads as the primary vehicle to promote your products and services. Facebook ads have features that allow you to target your ads toward the right demographic profile of your ideal customers. You can even target the ads toward specific interests, influencers your ideal customers follow, magazines your ideal customer reads, pages your ideal customers like, percentage of video view, and more.
If your ideal customers/clients hang out in Pinterest, Twitter, and are in LinkedIn, you can also use ads in these platforms to promote your products/services.
Email Marketing: Email your subscribers at least once per week if you are not in the middle of promoting your products and services.
A month prior to promoting your products and services, create a sense of anticipation by announcing your upcoming product release. If this is your first product, invite your subscribers to be beta-testers in exchange for receiving a discount. Email content related to your products and services. Share stories about how you got started creating your products and services. Share case studies and testimonials from people who used your products and services and obtained the results they were seeking.
Transitioning From a Job to Running Your Business: For those of you who are planning to build a business while working full-time, after you build your immensely successful business, begin creating your transition plan for seamlessly moving from your full-time job into your very own business without losing money.
If you found this article helpful, please feel free to comment and provide your feedback. I’d love to hear from you!
If you are currently working full-time and would like to build your very own business, I have created the perfect PDF guide for you: “Start Your Business: A Step By Step Guide To Building The Business You Love and Finally Quitting Your 9 to 5.” For more information, click the image below
And if you need help to build your business, take advantage of my Sales Growth Program using 4 key principles for magnifying your sales by 3 to 10X through doubling your leads, customers, profit market, and repeat sales. For more information, click here.