How to Productize Your Service: Part 1-Introduction
Coach. Lawyer. Consultant. Speaker. Copywriter. Therapist. Doula. Golf instructor. Personal chef. Seamstress.
What do all of these professions have in common? They are non-tangible services. The problem with being a service-based entrepreneur is that if you're not “there” to perform said service, it doesn't get done. If the job doesn't get done, you don't get paid, you lose clients, your business fails and you move into your parents' basement.
The solution to avoid moving back in with Mom and Dad is coming up with a way of getting you in different places at once.
Sure you could hire staff. But the “pay per service” issue remains.
The way to create more reliable, duplicatable income is to “tangibilize” your service into packaged products—digital or physical.
This is called “productizing” your service.
How can you turn your service into a product? Let me help!
You Already Know This
If you've spent any amount of time researching ways to turn your service into a product, you've no doubt found TONS of information on the WHAT. WHAT to create?
You've been told to create:
- video tutorials
- membership sites
- self-study courses
- audio programs
- resource guides
- etc., etc., etc.
But you already know this. In fact, I'm willing to bet you have at least a handful of these half-finished projects collecting virtual dust on your hard drive right now. (Come on, admit it!)
The problem is not in CREATING the products. We're entrepreneurs. We're masters at creating.
So, what's the problem?
The Real Challenge—Sell or Not Sell?
The problem, well one of the problems, I'm finding is that most of us don't know where to draw the line between what to give away (offer as a free opt-in or lead magnet) and what to charge for.
I've come up with, what I think, is a very simple process to figuring out what to create, how to fit it nice and neatly in a product funnel, thus knowing EXACTLY what you should be getting paid for and what you could offer for free.
Turn It Upside Down
How do you figure out how to take all this “stuff” you want to create (or have half-created) into a product funnel, getting paid what you deserve, but still offering free giveaways to grow your list and as well as build the KLT (Know-Like-Trust) factor?
Easy. Turn your funnel on its head. It's what I call a “backward funnel” approach.
You start from the bottom of your productized services and you work your way up.
Confused yet? Bear with me, I promise it's worth it.
Now you're ready for Part 2, where I walk you through my entire “backward funnel” approach.I'm curious—Do you “productize”?