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Three Questions...

by Chris W. Sutton
14 replies
Is your product or service designed to make you money or is your product or service designed to solve a problem?

When creating a product or service, are you focused on what will make you the most money or are you focused on providing the best product or service for your customer?

Do you focus on sales or do you focus on relationships?
#questions
  • Profile picture of the author sevenish
    1) I focus on solving a problem. Great question!
    2) Quite frankly, I look at both. That said, value is the common denominator.
    3) I focus on relationships. I suck at sales .... unless I focus on relationships and delivering value. On the other hand, when I focus on delivering value, the sales come easily.
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    • Profile picture of the author Jeremy Kelsall
      Chris, aren't all of the answers the same?

      Seriously, it's hard to create a product that makes you a lot of money that doesn't solve a problem, right?

      You can't make a lot of money off of a product if you don't offer the best product because you won't keep your customer, right?

      For the third one, see #1 and #2

      Personally, I don't see a big difference in the choices....
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  • Profile picture of the author derrickp
    I also focus on solving a problem. That usually is where the money is.

    Derrick
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  • Profile picture of the author George Wright
    Hi,

    I focus on what my customer wants.

    George Wright
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  • Profile picture of the author Chris W. Sutton
    Actually, Jeremy, they aren't the same. In fact, you made my point in the first question by your comment...
    it's hard to create a product that makes you a lot of money that doesn't solve a problem, right?
    so your initial focus has to be on someone else other than yourself.

    Again, with question number 2, you bolster what I am trying to say with your comment...
    You can't make a lot of money off of a product if you don't offer the best product because you won't keep your customer, right?
    Once again, you are absolutely correct!

    Personally, I don't see a big difference in the choices....
    Ahhh, but the secret is to read them over until you do see the difference because there is a huge difference. Whether you realize it or not, Jeremy, you DO understand the concepts because you have used them in your own products to become successful.

    Wax on, grasshopper, wax off!
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  • Profile picture of the author prashie91
    well if your product does solve someones problem then the sales will come in (assuming it's being marketed well and all).
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  • Profile picture of the author Ben Clemons
    both. Solving a problem / helping people is 1st priority ofcourse, but all my products are designed to make money. I run a business Depends on how you look at it
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  • Profile picture of the author Daniel Scott
    You can create a great product that doesn't sell. Therefore, doesn't your focus have to be on BOTH?

    People buy what they WANT, not what they NEED.

    MacDonald's makes tasteless, crappy, fattening food that obviously is no good for anyone. By quality standards, it's crap. You can't imagine a critic ever eating there.

    Yet they make a killing. Not because they produce quality. Because they give people what they want.

    It's not good for people. The service is usually sub-standard. The profit margins are fairly high.

    But they make a killing.

    I believe that we should all try to do our best and create amazing products, but only AFTER we have thought about the financial aspect of things.

    Unless, of course, you do this solely for the thrill of it.

    -Dan
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    • Profile picture of the author Killer Joe
      Originally Posted by Daniel Scott View Post

      MacDonald's makes tasteless, crappy, fattening food that obviously is no good for anyone. By quality standards, it's crap. You can't imagine a critic ever eating there.
      Dan,

      I like your take on this. Good points.

      If I could expand a little on your analogy it would be to bring up the point that the core product McDonalds sells is convenience. Yes, they are in the food niche, but that is just the vehicle.

      If you took their food out of the fast food market and put into sit down style restaurants they would most likely fail.

      A long time ago the railroads in America were in such desparate straits that the government had to step in and help them out. It was later determined that one of the weaknesses in their marketing strategy was that they were unaware of who their real competitors were.

      As a group, they mostly thought they were in the 'railroad' business. It wasn't until they realized that they were in the 'transportation' business that things really changed for that industry.

      Anyone who produces a product needs to understand the true core needs that the product addresses. Often times it is easy to think that what is 'deliverable' about the product, satisifies that core need when in fact, it is just a manifistation of the core need. In essence, the symptom is being treated, and not the disease, if you will.

      KJ
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      • Profile picture of the author Keith Boisvert
        If I could expand a little on your analogy it would be to bring up the point that the core product McDonalds sells is convenience. Yes, they are in the food niche, but that is just the vehicle.
        I thought McDonalds was in the Real estate game more than in the fast food one.

        Is your product or service designed to make you money or is your product or service designed to solve a problem?
        My products are designed to solve a problem. The money follows suit. Granted, I want to ensure the problem I solve is a widespread one so as to ensure that my efforts do not go unrewarded too. But problem solving is number one.

        When creating a product or service, are you focused on what will make you the most money or are you focused on providing the best product or service for your customer?
        By the time I am at this stage I know that my product is needed and designed to solve a problem, so my goal is to ensure it does that in the best possible way with the customer(end user) in mind.

        Do you focus on sales or do you focus on relationships?
        Relationships. Relationships and good will will drive sales. You cannot have one without the other and be successful(IMO), so relationships comes first for me.


        keith
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  • Profile picture of the author oboi2121
    Originally Posted by Chris W. Sutton View Post

    Is your product or service designed to make you money or is your product or service designed to solve a problem?

    When creating a product or service, are you focused on what will make you the most money or are you focused on providing the best product or service for your customer?

    Do you focus on sales or do you focus on relationships?

    Hello Omari Taylor here,

    Great questions Chris.

    1) Who I'm working with solves people's problems. If your product doesn't solve problems for people it is probably a scam and just temporary money. If your making any at all.

    2) I'm focused on providing the best service to a customer. One of my favorite quotes is, "service to many leads to greatness." If you are just worried about how much money you will make you will never be successful. You mission must be bigger than youself.

    3) This question is similar to the last question. You should never be focus on yourself. Building relationships is be part of being a marketer and the only way you will be massively successful.
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  • Profile picture of the author Chris W. Sutton
    When creating a new product, I always ask myself, "WWTHD?" (What would Thaddeus Hogg do?)
    Well, it's certainly hard to argue with that one, isn't it?
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  • Profile picture of the author Jonathan 2.0
    Banned
    I focus on serving people and making a fortune. Primarily I'm about helping people and doing something which I'm passionate about. Because those are the things which bring me the most happiness. However I have no qualms about being filthy rich. Because I think it's important to have a abundance mentality and want to make a lot of money. There's nothing wrong with that. Especially when you plan to further improve people's lives with a percentage of your personal fortune.
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    "Each problem has hidden in it an opportunity so powerful that it literally dwarfs the problem. The greatest success stories were created by people who recognized a problem and turned it into an opportunity."―Joseph Sugarman
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