Your Product Defines your Business
As coaches and healers, we have a set of tools that we can use to use to address the clients situation before us. This is a gift because it is important to adapt to the situation and every individual is different. When we group coach that dynamic changes a bit, but we are still in a very small lens looking at problems and situations and adapting tools to solve them.
When we create a product we are talking about developing a set of services or a clear Outcome to a specific group of people or problem . We are not changing the process of how we work, instead, we are thinking in terms of the person who needs our service, how can they understand what we do, simply and easily so we can create marketing material around that. It is taking a look at what we do from 30,000 feet and saying "Hmm, I get people from this state or emotion to this state" and then attaching a label to it.
"Your Product is your Business"
Let's make an example. Barbara is a health coach, she gets people healthier and teaches them to eat right so her clients can function better at work and home and live better lives. This sounds great. But how can you market this as a product, it is a vague concept and still pretty wide.
So let's try this. Barbara is the CEO's Health Coach, she creates custom health plans so Executives can operate at peak performance. The product could be called the CEO Vitality Planner or How to Stay Fit when running a Fortune 500. This concept writes its self, we are focused on one group of people, solving one specific problem and the marketing material kind of writes it's self.
The biggest challenge we run into is coaches and healers are really built to help a wide group of people and the tools are universal as long as the clients are willing to do the work. Another challenge is the concept of what some coaches do is such a big idea that it is challenging to narrow it down to a blurb. Let's take executive coaching or strategic development coaching, those are big concepts and what these coaches do is wide, and can take these coaches down many paths. But when we step out of the How and look at the Outcome of the work, that is where we find the product. This could be described as the feeling the client has after the breakthrough or the solution to the problem they are having. Think of pain points of your clients and you are the solution.
- You have this Problem.
- We will do this
- When we are done you feel like this.
Sticking a name on just makes it easier to identify. I can tell you about my naming crisis' and hopefully, that will help in creating clarity for you. I would name everything really sporty and zippy, like the Social Accelerator, Zyg Media, and Video Presence. Now some of those products you may sort of understand, but not BAM!! this is it. I adopted these new product names.
- Marketing for coaches.
- Video Marketing Monthly Subscription model
These products need little explanation. I am so used to explaining what I do, I catch myself saying, I have this product called Marketing for Coaches, we do marketing for um... coaches..... It is just that straightforward. Another great example or maybe the best ever is
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The 4 Hour Work Week.
Ahhh.... I want to work 4 hours, everyone does. I want that product and make it work in my life. I don't know how it works, but I want to. I know exactly what it means and the beauty of it is, I have a feeling that is inspired by the idea of living a 4 hr work week. Do you? Just the mention of it, we all have something deep down inside that wants that.
What if you could create a name like that to define what you do.
We will go into this further in our Webinar on July 23rd
The price is a different category. Let's talk about how pricing comes in to play. If you are a veteran of this process you have worked out how to talk price and when it is appropriate. If you are new you probably have some uncertainty about charging too much, too little when to ask and how to do it. We will go into that more in our Webinar.
This is valuable whether you are trying to get your business started or more advanced and looking to take the next step and scale. Once you have a clear product in mind you can align that with your Ideal Client, The Big Why and your Outcome, now you are ready to create a M.A.P. and Content.