You have the ability to create a product
As a business owner YOU have the ability to create a product. Whether you know that or not yet is a different story.
In this article/episode/video I’m going to teach you how you can use your knowledge to create a product and sell it, no matter what industry your business is in.
And I’m going to show you how you can do this once and make money while you sleep.
Running your business is tough
Whether you run a web design agency or you sell on Amazon, whether you’re a copywriter or a lawyer, most business owners rely on client work to keep the money coming in.
When you’re busy it’s great. You’ve got work lined up, money coming in, life’s good.
But there comes a time for most of us when the next job isn’t lined up. The schedule isn’t full, sometimes it’s completely empty. And then you need to start worrying about where you’re going to get your next customer from in order to pay bills, pay your staff, keep a roof over your head, provide for your family.
In some businesses this happens at certain times of the year, every year. Others struggle with it most of the time, and there are some business owners that are stacked out all of the time, and that’s great.
But even when you’re stacked out with work all of the time, wouldn’t it be better if you could choose to take a step back sometimes and know the money would keep coming in?
You already have the knowledge to create a product that you can sell
It doesn’t matter what it is your business does, if you run a business you have the knowledge to teach others how to do the things you do, or some of them.
If you’ve developed strategies on handling certain situations that occur regularly in your business you can pass this onto others. If you’ve come up with processes to manage certain parts of running your business, or all of it, you can teach others.
As the owner of a cleaning company you could have developed a certain system over the years to clean offices that saves times and ensures everything is done to your standard. You could have taught this to your own staff already or kept it for yourself. You could turn this process into a product and sell it. This could be a book, a video, a series of videos, a course.
If you’re a copywriter you could have templates that you use as a starting point for certain pieces of content, like about pages, biographies, sales emails. If you don’t have templates, create them. You can package these up and sell them over and over again.
A lawyer could do the same with certain legal documents. For a business chasing unpaid invoices a downloadable pre-written letter with details of a law firm on the header would be a much simple and more cost effective option than hiring a law firm.
Web designers could have pre-built websites for certain niche industries. You could even provide the content.
Like the example with the cleaner, a mechanic could have developed a process. This could be a process that helps with prioritising work so smaller jobs can be completed around big jobs, saving time for customers.
The same principles apply no matter what it is your business does. You could choose to create a product for other businesses like your own, or for your customers.
Even if you think you don’t have processes or something you could template or show others how to do, if you’ve been in business for years you could use your experience as a business owner to teach new business owners in the same industry what you’ve learned over the years. That could be your way of finding new customers, it could be how you’ve found suppliers, how to spot a good product or find the right manufacturer.
All of these things could be productised and sold as ebooks, physical real life books, videos, online courses, turnkey products.
So how would you sell this product?
You could create a website solely for your product and sell it there. You could create a sales page, a video sales page, a landing page.
You could create a series of emails, giving away useful information to potential customers before hooking them in and selling them your product.
Those emails could be setup to send on automation, one after another, daily for a week, every other day for a few weeks.
You could then create create content upgrades from blog or posts, or lightweight versions of your paid for digital product.
You could then offer the free a lead magnet in return for an email address, an email address that your pre-written emails would go off to on automation, leading them back to your paid product.
Your content upgrade could be anything from worksheets, templates, checklists, videos, ebooks, all sorts!
The best way to do this is to use a lead capture tool to captures email addresses like OptinMonster, SumoMe or ConvertPro. Or, if like me you’ve built your WordPress website with Elementor, you can use their new popups feature instead.
You can use these tools to create various lightbox popups, floating bars, welcome mats, inline embedded forms, slide-ins and sidebar forms.
Connect your lead capture tool to your email marketing software and create lists, or groups within lists, to add each new subscriber to.
By setting up groups within lists you can segment your subscribers based on the type of free content they’ve signed up for.
You can then create your email series to give them more value based on what they’re learning about.
Someone else is already doing it
Just because someone else is doing something similar doesn’t mean that you can’t do it too.
Don’t go out and blatantly copy someone or rip off someone else’s idea by any means, that won’t get you anywhere.
You have unique skills and insights that you can use to make your product your own, unique to you.
Everyone has to start somewhere. It doesn’t matter if you want to teach people how to make YouTube videos, or how to build websites, how to find and use the right (makeup/cooking ingredients/tools etc) – there’s probably someone else out there doing it, or doing something similar.
Look at some of the most well known marketing gurus like Neil Patal, Seth Godin, Brian Solis, Pat Flynn, Gary Vee, Rand Fishkin, Frank Kern, and more. Some of these guys talk about and teach similar stuff but they each have their own unique thoughts, their own ideas on how things work, and most importantly, they have their own audiences, the people that love what they do, they consume all their content, and they buy their courses, their books, tickets to see them speak.
Just take action and get started. Don’t worry about what anyone else is doing and don’t compare yourself to anyone else. They all started off at the same point. They all had to record that first video, or podcast or put their first product out there.
Just concentrate on being yourself, doing what you know, and remember to stick at it.
Coming up with a product
Maybe you’ve already had an idea for a product, or you’ve found something that works for one market that you could put your own spin on and sell to a totally different set of customers.
You don’t have to reinvent the wheel. Create something based on what you know and are good at, or take something that already exists and put your own unique spin on it.
We see this time and time again with so many different products that are essentially the same thing, sold to different customers, often at different price points.
Take a CRMs, Customer Relationship Management systems. They are everywhere, from standalone pieces of software to SAAS products that charge a monthly fee. With so many big players in the market like Salesforce, Hubspot, Pipedrive, Zoho and so many more, how can someone else come along and do well? They do keep coming along and they do make money.
One company built a SAAS product for politicians and called it a casework tool. Politicians get to manage constituents and their issues, being able to follow up within the app and move them along to different stages as the cases are dealt with. They’ve essentially built a CRM. But they’ve packaged it up differently sell it to a unique set of customers. It works and it seems like a great tool, but at its core it’s no different to other products out there, in fact it’s a stripped down version with less features than most CRMs.
The difference is that this company put their own unique spin on it and they targeted a completely different market.
Ultimately, how you decide to package your own product and how much you charge for it is up to you, but you can do it.
How to get your product out there
If you found this useful please let me know!
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