When we help product bosses level up their businesses, especially those scaling to six figures, there are four common mistakes we see. Let's dive in to see what these mistakes are and how to address them so that you can take your business to the next level.
“Refine Down to Scale Up.” - The Product Boss Podcast
To start off, it’s important to know what “leveling up” actually means. Many people assume it’s increasing your sales, but that isn’t necessarily the case. Sometimes, it’s more important to refine what you’re doing and make it more profitable or streamlined before you start thinking about increasing sales, finding more customers, and so on. It’s easy to spread yourself too thin, and if you don’t have your systems in place, then you won’t be building your business on a solid foundation.
More customers can be a great thing, but have you considered alternatives like selling more to your existing customers? We tend to think about social media in terms of algorithms and getting our brand in front of new eyes, but why not think about reminding your current customers that they haven’t purchased anything in a while? This is why we say “refine down to scale up!”
Another common mistake product bosses make is trying to launch without a runway. Now, don’t get too caught up in the word “launch,” because this doesn’t just refer to launching your business, it refers to launching anything from a new product to an event or even a sale. Instead of just dropping a new collection, have you tried first building some suspense and anticipation around it? Let your customers know that something is coming, and give them time to get excited about it!
These are just two of the mistakes we address in this episode, so make sure you tune in to hear about all four! It could make all the difference as you take your company to the next level.
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Resources:
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