Entrepreneurs often get caught up in having and making new products and services. That can be a good thing when you already have a clientele. But if you do not already have clients that have cycled through your old stuff, it could be a money and time drain to create new stuff. .
We love what we do as Entrepreneurs, however we want to make money and not lose too. To make money, the focus has to be on finding people to pay for what we have. More products and services do not mean more money if you aren’t known for doing a few things well first. By all means, brainstorm and come up with names and ideas for new books, programs, and products. But first go all in with the products and services you already have to build a pool of more and more clients first.
They may not buy or sign up for your new products and services.If you aren’t building relationships with your current clients and opening the door to focusing on new clients, how do you know what they want or are willing to buy from you? Focus more on building relationships with clients to get a read on what they like and don’t like about your current products/services so that you know what to change or what new to introduce. That way you haven’t spent thousands of dollars just hoping and praying that someone will purchase and you make your money back.
Every move you make in business should be dictated by what your clients and potential clients have told you they want from you. You can go into debt not adding strategy to our business decisions. So let’s work towards listening to current clients to apply that knowledge to get more clients. New clients means your old products and services are new to them.