When picking products to market in your business, I’ve seen so many Business Owners randomly choose what to sell. They pick products based on the opinion of others or what they think their market needs. There’s also my favorite: following the newest trend, fad or idea that seems like a moneymaker. Some may have success with that approach. But for most, the lack of planning and consideration doesn’t help them get closer to Financial Freedom.
And most Business Owners don’t pay attention to how the new product will help them achieve Financial Freedom. Usually the thought never even crosses their mind. So they’re selecting products and services to market based on outside factors, not their Freedom.
In my opinion, this is all wrong, and I’m calling Bullshit.
I’m not saying they’re at fault. From my experience, Business Owners have never been shown any other way. They’re just doing what everyone else is doing.
But it’s about time Business Owners learn there’s actually a right way to select products and services. Because selecting the right products is crucial to creating your personal Financial Freedom.
Customize your products
This is how to Customize your product offering based on the specific Business Model you’ve chosen. By the end of this process, you’ll be clear on what your path to Freedom looks like, through your business. The first thing we’re going to do is Clarify your Magical Mix of Products and Services.
We call it the “Magical Mix” because, in a way, this four-step process gives you special powers to design your Freedom through the products you sell. Your Freedom becomes a reality, almost as if by magic. And when you have the right mix, you reach Financial Freedom faster, your business has a greater impact, and you feel more fulfilled. Sweet, right?
To create your Magical Mix of Products, evaluate each offering you have using the below four criteria. When you’re finished, you’ll know what products and services will serve you today and on your journey towards Freedom.
The four criteria
Evaluate how important each product or service is in fulfilling the fullest impact potential your business can ultimately have in the market. Look at whether or not the particular offering is relevant to the transformation your business is ultimately creating in the world.
Evaluate your product or service for the level of excitement, inspiration and motivation it ignites in you personally. Because when you emphasize your own inspiration, you ensure your work never becomes stale. And you’re committed at the highest level to bringing your unique value to the world.
Evaluate how effectively your product or service can be marketed, sold and fulfilled without you. Whether you have a Profit Business or a Legacy Business, you need to automate as much as possible.
Evaluate the profitability of each product or service. Profit is crucial here. And there is a huge difference between profit and revenue. Your products must be profitable so they help you create Financial Freedom. Whether that’s by pulling profits out along the way or building assets to eventually sell at the highest value.
And that’s the four criteria you need to create your Magical Mix of Products. When your products and services meet these four criteria, you ensure you’re truly set to build your Financial Freedom. You create the greatest impact in the world, you’re fully lit up, and you’re inspired as you build your business.
And isn’t that where you want to be?
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.