{"id":31390,"date":"2021-04-06T16:42:07","date_gmt":"2021-04-06T20:42:07","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=31390"},"modified":"2021-04-17T20:39:54","modified_gmt":"2021-04-18T00:39:54","slug":"create-a-product","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/create-a-product\/","title":{"rendered":"Create a Product That Sells With 3 Easy Steps"},"content":{"rendered":"\n<p>Do you want to <a href=\"https:\/\/www.shortform.com\/blog\/how-to-get-a-small-business-started\/\">start a business<\/a> but don&#8217;t know what you could sell? How do you <a href=\"https:\/\/www.shortform.com\/blog\/creating-a-product\/\">create a product<\/a> or service that&#8217;s going to bring in a profit?<\/p>\n\n\n\n<p>The first step of starting a business is to create a product or service. Ultimately, your product needs to have worth. In other words, it should make people\u2019s lives better or easier. Ideally, this product or service should also be something that you\u2019re passionate about.<\/p>\n\n\n\n<p>Follow these three steps to create a product or service that sells.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\">How to Create a Product or Service That Sells<\/h2>\n\n\n\n<p>Creating a successful product or service requires a lot more than simply transforming your passion or hobby into a business. If you have an idea, don&#8217;t rush to making it a reality just yet. Before you go ahead, consider the following questions:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Could you invest a minimum of 20 hours per week into the field you\u2019re passionate about?<\/li><li>Do you like teaching others about that field?<\/li><li>Do you enjoy most aspects of that field, even the seemingly mundane details?<\/li><li>If you had to put an administrative process onto your passion, would you still enjoy it?<\/li><li>Is there a market surrounding your passion?<\/li><li>Are there other businesses in that market?&nbsp;<\/li><li>Do you have an idea of how <em>your <\/em>business could be unique in that market?<\/li><\/ul>\n\n\n\n<p>If you answered \u201cyes\u201d to all of the above questions, you\u2019re ready to start developing your product or service. To do so:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Find your target audience.<\/li><li>Create an experience.<\/li><li>Stay open to new ideas.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">1) <strong>Find Your Target Audience<\/strong><\/h3>\n\n\n\n<p><strong>As you create your product, determine <\/strong><strong><em>who <\/em><\/strong><strong>you\u2019re trying to sell to. <\/strong>To do this, break your ideal customers down into demographics. There are two kinds of demographics:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Traditional demographics include age, sex\/gender, income, race\/ethnicity, and location.<\/li><li>New demographics include beliefs, skills, interests, passions, and values.<\/li><\/ul>\n\n\n\n<p>When building products around your target audience, consider the following strategies:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Strategy One: Jump Onto a Popular Trend <\/h4>\n\n\n\n<p>When deciding what you want to sell, look at trends that are popular with your target audience. These often pop up in the areas of dieting, fitness, technology, social media, and entertainment. For example, you could coach people interested in fitness through a trendy diet plan such as Whole30 or Paleo by giving personalized meal plans and grocery lists.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Strategy Two: Ask Your Audience<\/h4>\n\n\n\n<p>Using surveys and interviews, ask people within your target demographic what they&#8217;re looking for in a product\u2014for instance, the issue that they&#8217;d like the product to solve. One of the most straightforward ways to <a href=\"https:\/\/www.shortform.com\/blog\/how-to-create-demand-for-a-product\/\">get people interested in your business<\/a> is to <a href=\"https:\/\/www.shortform.com\/blog\/how-to-sell-a-product\/\">sell them a product<\/a> they already want. When creating your questionnaires, include questions such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>What makes ________ a struggle?<\/li><li>What\u2019s your biggest question or concern about ________?&nbsp;<\/li><li>How can I help you with ________?<\/li><\/ul>\n\n\n\n<p>Once you have an idea about the products you\u2019re looking to offer,<strong> <\/strong>reach out and <a href=\"https:\/\/www.shortform.com\/blog\/ask-for-feedback-at-work\/\">ask for feedback<\/a> on your ideas. You could ask people to rate your product ideas based on what they\u2019d find most helpful or if they could see themselves buying any of the products in the near future.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Decision-Making Matrix<\/strong><\/h3>\n\n\n\n<p>Once you\u2019ve conducted your market research, you may have so many product ideas that you don\u2019t know where to begin. To organize your thoughts and determine which ideas are the best, use the <a href=\"https:\/\/www.shortform.com\/blog\/methods-of-decision-making-crucial-conversations\/\">decision-making<\/a> matrix.<strong> <\/strong>The decision-making matrix contains four scoring categories, scored between 1 and 5:<\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Impact: Will this idea make an impact on my audience? (1 = no impact; 5 = immense impact)<\/li><li>Effort: How much time and effort does this idea require? (1 = a significant amount of effort; 5 = a small amount of effort)<\/li><li>Profitability: How profitable is this idea? (1 = not profitable; 5 = very profitable)<\/li><li>Vision: How closely does this idea align with my vision or mission? (1 = not remotely aligned; 5 = perfect alignment)<\/li><\/ol>\n\n\n\n<p>At the end of each row, tally the total score of each idea. When you\u2019re finished, the matrix should look something like this:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><\/td><td>Impact<\/td><td>Effort<\/td><td>Profitability<\/td><td>Vision<\/td><td>Total<\/td><\/tr><tr><td>Idea 1<\/td><td>4<\/td><td>2<\/td><td>5<\/td><td>5<\/td><td>16<\/td><\/tr><tr><td>Idea 2<\/td><td>2<\/td><td>5<\/td><td>3<\/td><td>3<\/td><td>13<\/td><\/tr><tr><td>Idea 3<\/td><td>3<\/td><td>2<\/td><td>2<\/td><td>1<\/td><td>8<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Using the above example, you could reach the following conclusions:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Idea 1 would likely be the best idea to move forward with because it scored the highest in the matrix. Though it would require a fair amount of effort, high scores in impact, profitability, and vision make it a concept worth investing in.&nbsp;<\/li><li>While Idea 2 may have scored lower in impact, profitability, and vision, it\u2019s a project that requires little effort, meaning it may be a good side project for further down the line.<\/li><li>Idea 3 may need to be discarded. Scoring low across the board, the payoff doesn\u2019t seem to be worth the effort.<\/li><\/ul>\n\n\n\n<p><strong>As you start your business, changing trends in the market may lead to new ideas.<\/strong> Don\u2019t be afraid of exploring these avenues because they often reflect changes in customer demand. For example, consumers are more aware of environmental issues than ever before. This has created a market trend towards sustainability, which may create an opportunity for you to develop new products using recycled materials to appeal to this trend.&nbsp;<\/p>\n\n\n\n<p>The following are common sources of inspiration that could help you adapt to an ever-changing marketplace:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Ineffective models: <\/strong>Observe other organizations that offer a similar product to yours and look for what works and what doesn\u2019t. When you see something that\u2019s ineffective, you can come up with a solution to offer your clients a more <a href=\"https:\/\/www.shortform.com\/blog\/how-to-streamline-a-process\/\">streamlined process<\/a>.&nbsp;<\/li><li><strong>New technology:<\/strong> Technology is changing and improving constantly. By keeping an eye on new technological trends, you can give your customers innovative and updated experiences.&nbsp;<\/li><li><strong>Unexpected space:<\/strong> If you have a storefront or office space, be on the lookout for innovative space solutions. For example, if you run a clothing boutique, renting a former restaurant space to house your storefront may be a unique draw to bring in curious customers.<\/li><li><strong>Side projects:<\/strong> When a particular product or service is selling well, think about spin-off projects that could boost income or give customers a new experience. For example, if your acting coaching business is booming, consider starting a teacher training program for other acting coaches.&nbsp;<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">2) <strong>Create a Product That Creates an Experience<\/strong><\/h3>\n\n\n\n<p>When creating your product, focus on the <em>experience<\/em> that your product will create. To do this, think about the benefits of your product, or the ways that it can help your customer, not to its <em>features<\/em>, or the details of the product<strong>. <\/strong>Use the following three strategies to create a product that focuses on providing an experience:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Strategy One: Fulfill Unspoken or Unrealized Needs<\/h4>\n\n\n\n<p>Often, customers don\u2019t know what they <em>actually <\/em>want. They may have an idea, but <strong>it\u2019s your job as the expert to lead them to a product or service that\u2019s going to give them an excellent experience that they didn\u2019t necessarily anticipate.&nbsp;<\/strong><\/p>\n\n\n\n<p>Note: This doesn\u2019t mean ignoring their requests. If the customer asks for something specific, give them what they\u2019re asking for. However, you can guide them in a certain direction or provide an additional service if you believe it\u2019s going to elevate the value of their experience.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Strategy Two: Make the Customer Look Good<\/h4>\n\n\n\n<p>People often look for products or services that will help make them look impressive or skilled. When defining the value of your product, show your customers how your business can elevate them at home or in the workplace.&nbsp;<\/p>\n\n\n\n<p>For example, if you run an online course on website creation for aspiring web designers, you\u2019re helping your clients gain the skills they need to successfully and efficiently provide <em>their <\/em>clients with stunning websites. Explain how your product will make them look like heroes to the people that they serve.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Strategy Three: Don\u2019t Get Bogged Down With Unnecessary Details<\/h4>\n\n\n\n<p>Customers are typically looking for a simple, clear solution to their problem. If you bombard them with too much information about the details of your product in your marketing materials, they may get overwhelmed or confused, disengaging with the item or service in the process.<\/p>\n\n\n\n<p>For example, if you\u2019re starting a voice studio, don\u2019t lead by explaining the intricacies of every single vocal methodology that you\u2019ve studied. Simply explain that you want to help people become better singers and that you\u2019re going to give them the tools to succeed. If they want to know more, they\u2019ll ask.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3) <strong>Stay Open to New Ideas<\/strong><\/h3>\n\n\n\n<p><strong>As you start your business, changing trends in the market may lead to new ideas.<\/strong> Don\u2019t be afraid of exploring these avenues because they often reflect changes in customer demand. For example, consumers are more aware of environmental issues than ever before. This has created a market trend towards sustainability, which may create an opportunity for you to create a product using recycled materials to appeal to this trend.&nbsp;<\/p>\n\n\n\n<p>The following are common sources of inspiration that could help you adapt to an ever-changing marketplace:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Ineffective models: <\/strong>Observe other organizations that offer a similar product to yours and look for what works and what doesn\u2019t. When you see something that\u2019s ineffective, you can come up with a solution to offer your clients a more streamlined process.&nbsp;<\/li><li><strong>New technology:<\/strong> Technology is changing and improving constantly. By keeping an eye on new technological trends, you can give your customers innovative and updated experiences.&nbsp;<\/li><li><strong>Unexpected space:<\/strong> If you have a storefront or office space, be on the lookout for innovative space solutions. For example, if you run a clothing boutique, renting a former restaurant space to house your storefront may be a unique draw to bring in curious customers.<\/li><li><strong>Side projects:<\/strong> When a particular product or service is selling well, think about spin-off projects that could boost income or give customers a new experience. For example, if your acting coaching business is booming, consider starting a teacher training program for other acting coaches.<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Do you want to start a business but don&#8217;t know what you could sell? How do you create a product or service that&#8217;s going to bring in a profit? The first step of starting a business is to create a product or service. Ultimately, your product needs to have worth. In other words, it should make people\u2019s lives better or easier. Ideally, this product or service should also be something that you\u2019re passionate about. Follow these three steps to create a product or service that sells.<\/p>\n","protected":false},"author":7,"featured_media":31468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,103],"tags":[256],"class_list":["post-31390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-sales","tag-the-100-startup","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Create a Product That Sells With 3 Easy Steps - Shortform Books<\/title>\n<meta name=\"description\" content=\"The first step of starting a business is to create a product or service. Here are three steps to creating a product or service that sells.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortform.com\/blog\/create-a-product\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Create a Product That Sells With 3 Easy Steps\" \/>\n<meta property=\"og:description\" content=\"The first step of starting a business is to create a product or service. Here are three steps to creating a product or service that sells.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shortform.com\/blog\/create-a-product\/\" \/>\n<meta property=\"og:site_name\" content=\"Shortform Books\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-06T20:42:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-04-18T00:39:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/s3.amazonaws.com\/wordpress.shortform.com\/blog\/wp-content\/uploads\/2021\/04\/business-idea-entrepreneur.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Darya Sinusoid\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Darya Sinusoid\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/\"},\"author\":{\"name\":\"Darya Sinusoid\",\"@id\":\"https:\/\/www.shortform.com\/blog\/#\/schema\/person\/0421cce75bc249b11e2517b3a91f9c46\"},\"headline\":\"Create a Product That Sells With 3 Easy Steps\",\"datePublished\":\"2021-04-06T20:42:07+00:00\",\"dateModified\":\"2021-04-18T00:39:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/\"},\"wordCount\":1659,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2021\/04\/business-idea-entrepreneur.jpg\",\"keywords\":[\"The $100 Startup\"],\"articleSection\":[\"Business\",\"Sales\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.shortform.com\/blog\/create-a-product\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/\",\"url\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/\",\"name\":\"Create a Product That Sells With 3 Easy Steps - Shortform Books\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.shortform.com\/blog\/create-a-product\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.shortform.com\/blog\/wp-content\/uploads\/2021\/04\/business-idea-entrepreneur.jpg\",\"datePublished\":\"2021-04-06T20:42:07+00:00\",\"dateModified\":\"2021-04-18T00:39:54+00:00\",\"description\":\"The first step of starting a business is to create a product or service. 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