What do you offer?
If you are a business you have an offering. Your offering is your product or service. It’s your vehicle for making money!! We want to make sure you’re driving the best vehicle possible! So today, we’re going to walk through 3 questions to ask yourself in order to refine your offer. Are you ready to give it a tune up and have it be the absolute best it can be? I know you are! Let’s go!
Does my offer make financial sense?
While your business is meant to serve your community you also can’t forget about the nitty gritty financial side! Your business has to make money!!! Which means you need to constantly assess your offering’s pricing. In order to determine if your offering makes financial sense, look at how much your product/service costs and how much you want to make this year. These quick calculations will break down how you should proceed.
I need to sell _______ to make my goal of _______ this year.
This will require _______ clients.
This will require each client to purchase _______ amount of times.
I need to acquire _______ more clients to meet my goals.
Is this doable?! Consider that and use these calculations to guide how you proceed with your offering’s pricing!
What makes your offer unique?
Look at what your competitors in your market niche are doing and do something better! Something bigger! Something no one else is doing. You have to get creative to stand out, especially the more saturated your market is. Figuring out what makes you unique is one of the more fun parts of being a business – check out this blog post for all my best tips for standing out! The more unique your offer is, the better your sales. And I don’t mean a “unique” offering that doesn’t appeal to enough people! I mean making it unique through your branding, your marketing, and generally making it the best of the best through hard work.
What are some additional offerings that you can provide to serve the same ideal client?
You might be a business with one offering OR several different offerings that serve the same community within your niche. Either way, think about if there is anything else that you can offer with your business to your people! Let’s walk through a simple example here…
You make those beautiful clay earrings and sell them on Etsy or your own website. The sell for $50. Amazing! Your customers are obsessed with them! But, is there anything else you can offer? Could you create a mini e-book tutorial teaching others how to make jewelry and sell it for $200? Sure thing. Could you offer bundles or matching earrings for bridal parties? Yep! Could you host earring making parties? You definitely can.
There are sooooo many different ways you can stick to your niche and provide your current customers and ideal customers with additional offerings to purchase from you!
I invite you to really take some time with these questions. These key questions are just a few ways to make you think and help you really perfect and refine your offer. This is something you will do over and over and over again in your business. Which is SO freaking exciting! By refining your offer you are innovating and literally changing the world with your business, in both big ways and small. Progress is everything! Every business is different – you have different offerings, different pricing, different niche’s, and you’re in different stages of the business life cycle! So each and every one of you reading this will come to different conclusions about how to proceed.
Cheering each of you on along the way!