Step 3: Identify and Create Products

After you have identified your market segment or niche, and have a clear picture of your ideal client it is time to figure out what you are going to offer them. The key is to offer multiple products so that your clients can Buy and Rebuy from you, in a very natural progression. If you are curious about how to create a client lifecycle roadmap, here is a post I did on that a while back.

Some other things to consider are:

1. Are you offering your products in a way that your clients will purchase and use them? I am still surprised at how many people don't really want to order downloadable products online, so really take some time and interview people in your market niche to determine HOW they would like to do business with you.

2. Do you have at least 5 different price points for your customers to choose from? In other words, you should have a low priced product that people can purchase to get to know you. If the only thing you offer is a 2500.00 seminar, you may have a hard time getting people to hand over their credit card on the first pass.

3. Do your products have a natural order to them? Think about how you can lead a client down a path with each product building upon the last. This keeps it interesting for your clients, and they will feel as though you are right there for them handling their needs as they come up.

4. Are you making a profit on your products? You need to think about your time, and any packaging and development costs that go into each of your products, and then be realistic about how many you need to sell to make a profit. I know it seems basic, but you need to work some numbers before deciding to order and inventory 5000 CDs. If you can, you may want to create your products and fulfill your own orders until you figure out how many you are really selling. You can always get someone else to do that later, after the money is rolling in!