Have you thought about creating your own physical product for your business? Some businesses, primarily online and service-based industries, don't always have physical products. Creating your own physical product can significantly benefit your business. Especially for those who are coaches, consultants, thought leaders, authors, and course creators, those who have that signature thing they are known for. In this episode, Crista Grasso explains how you can leverage a physical product, like creating a planner, workbook or journal, to scale your online business.
In this episode, I share:
- Story of creating the Lean Out Planner
- How to know if creating a physical product is right for your business
- How to leverage a physical product to increase profitability
- How to create your own planner for your business
- Top benefits of creating a physical product
Tune into Episode 20 of the Lean Out Your Business Podcast or keep reading below.
How Creating A Planner Can Help You Scale Your Business
Have you wondered how you can leverage a physical product, like creating a planner, workbook or journal to scale your online business? It's something that many online and service-based businesses are not leveraging nearly as much as they should.
My story of creating The Lean Out Planner
I do strategic planning with businesses, whether it's a solopreneur, a small business owner or one of my Fortune 10 clients. I work with them on strategic planning and we work in a 90-day time period.
It got to the point where many people wanted to work with me and had a long waitlist. I was booked out solid with my Fortune 10 clients and I was filling in the little bit of space that I had with private clients. But I wanted to reach more people. My mission is to help people build sustainable success in their business. So I realized that if I help people with planning in 90-day periods of time. It makes sense that I should have a planner.
I ended up creating the 90-day Lean Out Method planner and it helped tremendously. My existing clients love it and for them, it acts as a workbook because it complements everything that I teach them.
“Creating a planner is a simple way to scale your business” -Crista Grasso Click To Tweet
Benefits of creating a physical product for your business
Planners are huge. I will be an $18.8 billion industry by 2024. Every single year, it's growing. People want planners, workbooks and journals.
There are many benefits of having a physical product in your business, like user-generated content and brand loyalty. Having your clients be so excited about your product, capturing images, talking about your brand, being ambassadors for your brand or advocates for your brand. Something more challenging to do when you only have an online business.
This will significantly benefit coaches, consultants, thought leaders, authors, and course creators, who have that signature thing you're known for. Think about how you can leverage a physical product like a planner in your business.
How creating a physical product can increase profit in your business
When somebody buys your physical product, whether they've never heard of you before and it's their first purchase or they've been sitting on your list for a while, they finally make a purchase and they will get a taste of what it's like to work with you.
When they have your product, it will be sitting on their desk every single day, using it every day, all while getting excellent results.
The next thing they’re going to want to know is what's next and want to keep working with you.
Your physical product will be something that can help your business scale because you're leveraging something already working in your business and you're not dreaming up a random product just for fun.
Tips for creating your own planner
Something that you're going to want to think through is where a physical product, like a planner, will fit into your business model and how it's going to fit into the customer journey.
Is this a customer acquisition strategy where you're looking to be attracting new people into your business and looking at more of that top of funnel? Is it a customer-ascension strategy? Is it something where you're trying to amplify the results that your clients are getting? Is it the third type, which is a hybrid?
This is a combination of both an acquisition strategy where you're trying to attract new people into your business and raise brand awareness, as well as an ascension strategy where you're trying to amplify your existing client's results.
Regardless of which of these three strategies you follow for your planner, is one thing that they all have in common is that it will upsell into the next level offer that you have. When they get results using your physical product, they will want to deepen those results and will want to know the next steps in working with you.
“When your clients get results, they will want to deepen those results. They are going to want to know what's next.” -Crista Grasso Click To Tweet
If creating a physical product seems like the right next step for your business, head over to LeanOutMethod.com/planner. You will learn more about how I can help you create your own physical product, get helpful resources and training that walks you through mistakes people make and what you should do to start creating your physical product for your business.
by Crista Grasso
Crista Grasso is the go-to strategic planning expert for leading global businesses and online entrepreneurs when they want to scale. Known as the "Business Optimizer", Crista has the ability to quickly cut through noise and focus on optimizing the core things that will make the biggest impact to scale a business simply and sustainably. She specializes in helping businesses gain clarity on the most important things that will drive maximum value for their clients and maximum profits for their business. She is the creator of the Lean Out Method, 90 Day Lean Out Planner, and host of the Lean Out Your Business Podcast.