5 Biggest Myths about Creating a Product Suite
Feb 01, 2021
In this episode of The Dreamer’s Lounge Podcast, I’m talking about the five biggest myths when it comes to creating your product suite. There’s a lot of advice on creating your product suite out there. To be honest, I get really triggered when I hear coaches act like their way is the ONLY way. I know that my clients have created their product suites in many different ways, doing what works for them. So today I want to call B.S. on some of these myths and empower you to create your product suite your way!
But before we dive right in, welcome! You’ve now entered into The Dreamer’s Lounge! I’m Ariel Schiffer, and I have made it my mission to take out the digital trash one bad course at a time. I am the creator of The Course Alchemist, Industrial Organizational Psychologist, and Curriculum and course design expert.
This podcast is for entrepreneurs who are looking to elevate their digital product suite so their offers speak for themselves. Nothing is worse than being oversold into something that under delivers just like an overpriced bottle of wine. So, if you’re ready to develop high quality offers, bring in consistent revenue, and have a business with long-term results for you AND your clients, grab your drink and join us inside...
Today we’re going to bust the biggest myths about creating a product suite. For all the details, be sure to listen to the ENTIRE episode on your favorite streaming platform!
Myth #1 (and 1.5): You can only grow a successful business as a coach, and you need to start with one-on-one coaching.
You DON’T actually have to start your business with one-on-one coaching! I hear a lot of people say that one-on-one is the most high-ticket way to build your business quickly. But I find this problematic because not everyone actually wants to work with people individually. Some would rather focus on group settings. If groups are where you feel most comfortable, why would you move into a space that doesn’t feel comfortable? Whatever your first offer is, it should be something you are 100% obsessed with. And if that’s group coaching or a course, rather than a one-on-one program, that’s totally fine!
What I’m calling myth 1.5 (I literally thought of this as I was talking) is that the only way to build a wildly successful business is as a coach. I see so many people transitioning from being service providers to doing coaching because they think that’s the only way to have the freedom and income that they want. Listen, that is total garbage! Not everybody needs or wants to be a coach. Your business will evolve, but don’t think it needs to evolve in just one direction. Take that pressure off yourself!
Myth #2: Scaling your business means adding more.
Scaling your business does not mean adding more stuff. It means being super intentional with what you have. A lot of times, it’s actually narrowing your focus on what you’re truly passionate about. Think about your product suite and ask yourself, “If I added ten times the amount of people in these offers, would it still work?” That’s what being scalable is. It’s about how you’re doing the processes within your offers. It’s not about making it more complicated.
Myth #3: The only way to scale is through courses.
Look, I’m saying this as someone who built the foundation of my business on courses. You do not need courses to scale. They are not the only option to provide people with ways of working with you. I see people scaling all the time with things that are NOT courses. Of course, you can scale in this way, but don’t limit yourself to just this. Use your creativity and think about what’s going to be best for you and your clients.
Myth #4: There should be no gaps in your client journey, and you should support your clients all the way through.
The idea behind this myth is that you should look at your client's journey from point A to point B and make sure you fill in any gaps in their journey to transformation. This does make sense because you want your clients to feel supported by you in their journey, but at the same time, I don’t think you should feel bad if you don’t want to be there for a certain part of that journey. For example, if you cater to people who are further along in their businesses, don’t feel bad if you don’t want to create products for people who are first starting their business. It’s better to get specific and focus on where in the journey you can be most helpful.
Also, remember that you might not be the best person for your clients at certain parts of their journey. If, for example, your clients are struggling with mindset, and you’re not a mindset coach, maybe you don’t need to be the person that helps them with that. This might be a good opportunity for you to partner with someone else who has expertise in that area instead of trying to do it all yourself!
Myth #5: It’s not okay to be multi-passionate.
I think it’s okay to be multi-passionate. I also think it’s good to let your audience know what your thought process is, why you’re holding on to some things and letting others go. I do have clients that manage businesses that have different foci. But they are also very strategic about it and balance them well. It can work, but it all depends on your business and what you care about. Don’t be afraid of that, and don’t let someone else tell you what you can and can’t do with your business.
5 Biggest Myths about Creating a Product Suite: The Bottomline
When I see people spreading misinformation about business, it lights me up. People take it to heart and make major decisions based on the advice they hear. I want to always keep it real with you guys. I want to be honest and share my perspective. So if you’ve taken anything away from this episode, I hope it’s that you can do whatever the fuck you want to do with your business.
This is also why I created my membership, The Dreamer's Lounge. It's all about creating a product suite as the solid foundation of your business. I created it because I found that so many people had questions about this, and there wasn't enough information about it. It shouldn't be a tiny lesson in someone's program. It deserves a lot of attention. So if you're ready for your business to come to life, this membership is totally for you.
Thanks so much for stopping by The Dreamer’s Lounge! I hope that this episode helped you bust the myths holding you back in your business. If you enjoyed the episode please take a second to rate & review. Each review helps me fulfill my mission of improving the quality of learning in the online business industry. Don’t forget to take a screenshot, share it in your Instagram stories and tag me @dreampro_. See you next week!