You probably gave a lot of thought to starting your overall business. But as time has passed, you might not have analyzed the individual products you sell for value. If your small business is the heart of your Financial Freedom, your products are the mouth, nose and digestive system. They bring in nutrients and turn them into fuel that delivers lifesaving nourishment to sustain your endeavors.
So are the products you sell doing a good job nourishing your business?
Whether you’re in a Profit Business or a Legacy Business, the right mix of products is essential to sustainability and growth. To help you evaluate products in a Profit Business, we’ve put together four questions to ask yourself about every product you sell. (You’ll find this process laid out in detail in Module Four of Cash Flow Cure) Keep in mind the questions you’ll need to ask yourself are a bit different if you’re trying to grow a Legacy Business. We’ll address those questions in next month’s Building Your Business article.
Question #1: Are you inspired?
Your small business should be an extension of you. The more passion you have around what you’re offering, the more inspired you’ll be to spread the word and get as many people as possible to buy your product. And the more people buy your product, the faster your business will grow. Be honest with yourself about which of your products and services inspire you the most (or the least) to develop and fulfill against with your audience. What kind of impact do you hope to have?
Question #2: How much profit do you make?
Makaylah Rogers is the co-founder of MindShift.money. She is a Thought Leader for her generation, teaching people how to rewrite their “money rules.” With an extensive background in wealth building and personal development, Makaylah’s path has taken her into executive roles in various fields including launching startups, real estate sales and motivational keynote speaking.