Your Profit Problem May Be a Product Problem

Do you want to increase your profits? Are you wondering what the fastest way to do that is? Are you hoping that the answer is not to do more marketing?

When working with clients, the first place I look for profits is in their products. I have three specific questions I want to know the answer to…

1) What problems does your product solve?

2) Who is your ideal client? and

3) How fast does you product solve your client’s problem?

The answers to these questions often reveals an opportunity to increase profits and leverage.

For your business to succeed you must sell amazing products. But what is an amazing product? Let’s look at 3 important aspects.

WHAT PROBLEM DO YOU SOLVE?

Your product needs to solve a problem for your client. It can be a financial, health, relationship, mindset or any other problem. The key here, is that it needs to solve the entire problem. Unfortunately many products only solve part of a problem.

What is the problem your product or service solves? Can you articulate it with clarity?

DO YOU SPEAK THEIR LANGUAGE?

You must be able to speak the language of your ideal client.

Every morning your ideal client wakes up with problems, challenges and goals. Being able to communicate with them in “their” language is critical. To do this you must know exactly who your ideal client is. All too often a business is targeting a very general “niche.” Do you have a detailed profile of your ideal client? Do you understand the challenges they face? Do you understand the conversations that are already going on in their head?

DO YOU SOLVE THE PROBLEM FAST?

When your clients come to you with a problem, they want it solved fast. They’re in pain. Their pain is not having what they want.

All purchases are emotional decisions that are then justified by rationale. Once a client has purchased they want the outcome as quickly as possible. Are you delivering the outcome as fast as you can?

So if you want to increase your profits, start by reviewing your products. Do you solve problems? Do you communicate in their language? Do you deliver the outcome as fast as you can? Achieve all three of these and you will have queue of clients beating a path to your door.

You can do it!

Anthea

Ps… Are you looking to take yourself and your business to the next level? The best advice I can share with you is to hire yourself a Coach and Mentor. If that’s a vacancy you are looking to fill and you would like to have a chat, please request a complimentary 90-minute Strategy Session. Together we can review your business strategy to ideatify what needs to change in order to achieve the results you want. Click here to request your complimentary consultation now.

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