5 days to clarity on your digital product idea – Part 3

This is Part 3 of the five-part training series on uncovering complete clarity in your next digital product ideas. The idea for your next online course, membership, group program or whatever your digital product might look like.

5 days to clarity on your digital product idea – Part 3

In this part, we're looking at how can you best solve their problem. How will you solve the problem and deliver the transformation?

On day one of the series, I talked a little bit about what a successful digital product is going to be about and how you don't have to be unique in the idea that you are creating but it's also important to have some kind of unique flavour in your execution and one way that you can add that uniqueness is in how you are solving that problem.

 

How can you get your customers the result that they want, quicker, easier or more enjoyably than your competitors?

For example, the podcast launch plan I did is not a unique idea. There are so many other programs out there that teach somebody to launch a podcast but what makes my podcast launch plan unique is the execution.

Where all of the other podcasting courses and programs have lots of theory and lots of long videos, the Podcast Launch Plan I did is literally a step-by-step checklist. It's unique in the execution but it's not for everybody because some people do want those lengthy videos. They do want maybe a community or group support, but for the people who just want to get their podcast off the ground in the quickest, easiest way possible, that's how I do it with the podcast launch plan.

So with my question earlier, How can you get your customers the result that they want? How can you solve that problem for them, or deliver that transformation for them? In a way that is quicker, easier or more enjoyable than your competitors?

It doesn't have to be all three but we want to aim for at least one or two of them. Once you have that problem that you've uncovered on day one, the problem that you are solving and the people you are solving it for, the next step is how will you solve it? It can be a framework, a system, or a process that is yours. It becomes your signature framework, your signature process. It could also be a philosophy.

So for example, let's look at losing weight as a transformation. You can teach it, you can teach somebody how to lose weight by following a low-carb diet. You can teach them how to lose weight by following a paleo diet, both create the same outcome but the philosophy is different.

Have a signature philosophy that gets somebody the same outcome as all of your competitors do but yours should be unique. It must be different from how other people teach it. It's something that you stand for that other people don't and chances are that you already know what it is. You've just never thought of it before as a framework or a system or a philosophy.

 

Focus on one idea at a time

Now, maybe after the last two days, you found that you've generated way too many ideas and you can't decide which idea to go with, which one to create first. So the first thing I want to say is that it's really important to focus on just one idea at a time. The problem that I see so many online business owners and online entrepreneurs encountering is that they can't stick with one idea long enough to see it through to execution.

What tends to happen is you start creating one digital product. You think this idea is the greatest idea ever. You start creating it and you generally get a few weeks in maybe you get to about halfway through and this idea that was once exciting is now a little bit boring, a little bit stale and then you will think that you don't like this idea anymore and then you start creating a new one and the same thing happens.

The thing that helps me big time is to remember that I can't help anybody with my half-finished ideas and my half-finished ideas can't generate any income in my business either.

You will always have so many ideas. The best place to start is just finishing one and seeing it through to completion. Let it start to help people, let it start to bring income into your business first because once you have that one product that's bringing income into your business you can then go and reinvest and hire support to help you execute the next idea.

 

Things to consider when deciding which one to start first

 

1. Know your lowest-hanging fruit

When you have too many ideas, how can you decide which one to start with first? The first thing to consider is the lowest-hanging fruit right now. Maybe you've already got something that is three-quarters of the way complete or maybe there's something that you could get created and get out there in just a couple of weeks.

Whatever is going to be the easiest to create first, that's your lowest-hanging fruit. That could be your potential first idea to go with.

 

2. Know if your ideal customer has a lot of different problems that you can solve for them

Which problem needs solving first? Which problem do they need to have solved first before you can go and solve the next problem for them? For example, let's look at the weight loss coaching example again. If you teach somebody how to lose weight, the potential problems that you can solve are first you can help them to lose weight and then the second problem you can help them to solve is to maintain the weight once they have lost it. In that case, the losing weight problem needs solving first before you can teach them how to maintain the weight that they have lost.

 

3. Know which is the most urgent problem for them to solve

Is there one problem that you've brainstormed that is really causing your ideal customers so much pain right now? And they just need to make it go away as quickly as possible. Solve that one first if you can.

 

4. Know which one would bring in the most cash

If you are in a position where your business needs a hit of cashflow, launching a $20 digital product is not really going to solve that problem unless you have a massive audience and you can sell hundreds of thousands of it which probably I'm guessing you don't if you're having those cashflow issues.

If we think about how you can generate a thousand dollars, it's much easier to sell a hundred-dollar product to 10 people than it is to sell a $10 product to a hundred people. Think about which offer is going to bring in the most cash right now if you are in that position where you need to bring in cash urgently. That might be your important thing for prioritizing your idea to launch first.

So we're looking at what is the lowest-hanging fruit, which problem needs solving first, which is the most urgent and which would bring in the most cash brainstorm.

 

Think of your problem-solving statement

Once you've decided which one you are going to launch first, I want you to brainstorm what your problem-solving statement is.

This product helps X to achieve Y by Z. So for example, this product helps business owners to launch their digital products with my 12-week signature framework. This product helps “who” to achieve “what” by whatever your process for achieving that is.

That is your action item for today to identify how you will best solve the problem. Is it a framework? Is it a system? Is it a philosophy? What is it? How do you do it? And then write that one sentence, this product helps whoever it is that you're helping, whatever you did on day two to achieve the outcome or solve whatever that problem is with the framework or that process. So we're bringing together everything we've looked at on days one, two and three together so far.

 

Summary

Firstly, the value of your product doesn't lie in how much content there is, it comes from how quickly or easily or enjoyably you can get them the result that they want. It's not about proving how much you know or trying to make them believe that you are the expert on your topic. It can be something that is smaller, it doesn't have to be that signature course first.

Remember if you have too many ideas, choose between the lowest-hanging fruit, which problem needs solving first, which is the most urgent and which would bring in the most cash, answer those four questions and that should help to eliminate which idea you need to work on first.

 

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