A product, that customers return to you for reliably. You’re considered area of expertise. This product creates revenue and income for you. This fuel can be used to power product/value creation, and other auxiliary processes.
For me, a piece of business fuel is training. Personal
training is a piece of the fuel I use to power my operations. What stands out
to me is that this was externally identified at first. Friends ALWAYS would ask
me about fitness advice, and to train them. For year I was reluctant.
Thankfully I finally allowed it to come to my awareness. And now I have cultivated
the perceived value and fuel into real value and fuel. It doesn’t matter what I’m
doing, or where I’m going. I have people who see/know me and ask me to provide
them with true value.
Tired of struggling to get your product line in order?
Try using the Value Ladder to get a grasp on where your products lie in correlation to one another.
This concept was introduced to me by Russell Brunson, author of Dot Com Secrets. This diagram/tool allows entrepreneurs like you visualize all of the ways you provide value to your audience. This tool implies and requires that your offerings come in a sequence. Sequence meaning there is an inherent order that you are presenting to the client. Businesses are encouraged to grab their audience attention and wet their pallets with a low risk, valuable offering. Once here, it is easier for businesses to move their customers up to higher end products that generally carry a higher price tag.
Drafting a value ladder will help you identify if and where you can diversity or concentrate your offerings for your audience. This is because the entrepreneur is able to see the entire product landscape from free offerings (A) – down to your most luxurious products (Z).
Why this tool works!
Personally, for me it was transformative to take my products and product ideas from my head down onto a workable and meaningful framework that has real business application and impacts on prospects and personal ideas around implementation. Also supports the real notion that social media activity is not business, in and of itself. It is merely the publicizing and media marketing of your business dealing and offerings.