Hello there, Mike Grabham here again. Today, I just wanted to talk about what are the characteristics of a great product or service? Now, my job is to help you make a great product or service and I do this by shortening the learning curve that you need to create those products or services. I can save you time, I can save you money and I can reduce just the sheer aggravation of creating great products and services.
Characteristic number one, is it unique? Is it unique to the marketplace? Is it unique in how it’s being delivered? Is it unique in how it’s priced? is it unique in how it’s shared? All those things have a influence on that. So when I’m saying unique, is it five or 10 times better or five or 10 times different? It can’t be just a little different. That’s unique but I mean very different. So that’s one thing that’s very important.
Second thing is is does it solve the problem and we hear this over and over and over again and does it solve a problem? Now, really what I’m trying to figure out here is is it a painkiller or is it a vitamin? If it’s a painkiller, we want that. If it’s a vitamin, it’s like eh, nice to have. So really, you gotta figure out does it really solve a problem for a large number of people and it’s just that simple and I’m not gonna go into more detail because everyone talks about that.
The third thing is is does it provide value to the customer and value is a number of things and not just price. It’s a number of things. Is it providing value to the customer in how they interact in the world and how they interact with their day or how they use it in their business? Is it providing enough value for that customer that they wanna share it, that they wanna talk about it, that they wanna use it.
And fourth thing, does the customer have to change their life to use the product? So does it fit in the life of a user and you hear Nir Eyal talk about this a lot in the Book: Hooked, Building Habit-Forming Products. Do I have to change how I do something to use your product? That’s not good. Does it just fit into the flow of how I normally work my day or work my life then that is great. We want it to be just, we want it to intertwine in how we normally interact. We don’t wanna have to change our habits to use the product. That’s a bad thing. Don’t force anyone to change their habits, right, to use your product and last,
Number five, is it simple to use, is it simple to understand? Is it simple to share? Is it simple to describe? All those things are hugely important because the simpler it is obviously the better. Now, it doesn’t have to be three word simple but I mean, you have to be able to explain that pretty quickly and easily to all levels depending on who you’re selling it to and whether it’s a product or service. So simplicity is super important. Just understand that. Make it simple. If you have any questions, please leave them in the comments below. I will answer all of them. I promise. And if you have any other comments good or bad, please leave those as well.
Now, my job is to help you make a great product or service and I do this by shortening the learning curve that you need to create those products or services. I can save you time, I can save you money and I can reduce just the sheer aggravation of creating great products and services. So please share this with your friends. Share it on Twitter. Share it on Facebook. Share it on Instagram. Share it on LinkedIn and of course, subscribe to my YouTube channel. Thanks a lot and have an amazing day.