Your Quiz Results Are In And It’s Official….
The No 1 thing holding you back
from growing your product-based business is….
The Feeling of Overwhelm
It’s something we see all the time within our community of product bosses, trust us you’re not alone.
So many product-based business owners feel like they’re on a hamster wheel, unable to get off, which is causing a bottleneck in their business.
We totally get it, trying to do and be all of the things in your life makes it really difficult to find time to focus on and balance everything all at once, in your personal and business life.
It feels like everyone and everything in your life wants something from you....and that's your time.
Finding the perfect blend of work and life, whilst you're busy building your empire out of your living room, seems almost impossible.
You started this business to turn your passion into a profit, to have a business that works for you and where you’re at in your life.
Your business can still be the vehicle to your dream life….
You just have to focus on what matters.
And breathe….
Making the shift from only just surviving to feeling like you’re thriving isn’t the insurmountable task you think it is. It may feel like you’re spinning your wheels right now, and as if everything is an uphill battle, BUT you’ve made the first important step to moving the needle in your business by taking this quiz.
And that step is ACTION.
You’ve taken positive action towards making a change.
And as we like to say,
"You can always make more money,
but you can never make more time."
Bottom line: It's time to sell more, do less, and not go brute force to burnout. Your new mantra is "Let it be easy".
Think of time as a precious commodity, your most valued asset. It’s not about more time, it’s about using your time effectively.
Making a shift in the way you think about, value and account for your time and implementing a strategy.
Adding a strong strategy to your business is far more impactful and important to your bottom line than simply adding hours and doing more.
Strategy is about the finesse and nuance of making money, while more hours or more doing is about brute force and burnout.
This one simple shift in the management of your time will make all the difference to the day-to-day running of your business.
Managing your time and implementing a strategy doesn’t have to be complicated, just let it be easy.
The next time something happens that demands time out of your already busy schedule, ask yourself these questions….
Could I shorten my learning curve by taking a course or hiring an expert??
Is this a task I could automate and put a system in place for?
Could I have avoided this altogether by pre-planning for it?
Is this going to move my business forward or simply be a big distraction?
Does it align with the goals I have for my product-based business?
"Action takers are money makers"
Jacqueline & Minna
Your Product Boss Report Card
Let's find out what your report card would say if you were taking lessons in getting more done in less time. Understanding how to use your time efficiently and effectively, is the fast track to consistent growth in your business.
TIME BLOCKING:
Batching your tasks together and then blocking out time for each batch will make all the difference. Practice giving your undivided attention to everything you do.
FOCUS:
Try to focus on what keeps more money in your pocket. We don't want you to be busy, we want you to be profitable. It's all too easy to spend time on low-value tasks instead of focusing on the ones with a high dollar result.
MOTIVATION:
It’s hard for you to find the motivation for the tasks you don’t enjoy. Try focusing on how great you’ll feel when that task is completed.
And when motivation is low that’s when having a community is so important. Being surrounded by people who understand what you’re doing and speak the same language makes all the difference. You don’t have to do this alone. Seek out a community like ours for product business owners with similar goals to yours.
DELEGATION:
Getting help where you can is so important whether it's help with the housework or automating some tasks in your business. Wherever the budget allows delegating to others allows you to stay in your zone of genius doing what you do best. You don't have to do it all yourself, you can absolutely get the help and support that you need. This is exactly what the profit in your business can start doing for you. Let’s work our way there, little by little, to get things off your plate.
ORGANIZATION:
Messiness causes havoc with productivity. A little reorganization of your calendar could help streamline your workflow. We like to teach our students how to organize in 90-days. This timeframe can be really helpful for forecasting and organizing.
PRIORITIZING:
Free up your mental, calendar and physical space so you can get off the hamster wheel.
Doing a brain dump of all those thoughts running around your head, prioritizing things on your calendar, and getting your inventory in order is key to staying organized in your business.
Your Product Bosses - Jacqueline and Minna
Time To Take Action!
STEP 1 - BRAINDUMP everything you need to get done in the upcoming week into your To-Do ListSimple, but life-changing.
Anything that has to be done within your week should come out of your head and onto this list.
From taking your kids to dance class and making dinner to weekly calls and taking photos. List it all out so you can start to put together a schedule that helps you overcome the overwhelm.
STEP 2 - BATCH the action items that go together
Batching allows you to actively focus on one thing at a time and avoid the inevitable distractions that happen when we're doing multiple things at the same time.
It's working smarter, not harder and allows you to divide your workflow into different chunks of time focusing on just ONE TOPIC, instead of jumping around from task to task.
STEP 3 - Create TIMEBLOCKS into your weekly schedule and designate what batches you will get done in each time period.
These blocks of time should be personal to you and the way you work. If you prefer working in two-hour blocks that’s what you should schedule into your calendar.
Alternatively, if you work better in short 30-minute bursts then do that instead.
This will bring efficiency into your business setting the stage for focused work. So when you sit down to get that work done you know exactly what you're doing and can get that task done and off your list.
Learn the secrets to maximizing your revenue and growing a profitable business year-round...
With Our PROFIT Formula
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PLAN
Too many times we see promising Product Bosses get stuck because they've not planned things out properly. This results in "analysis paralysis" because they feel overwhelmed and unsure of what their next step is resulting in them not taking any action at all!
Plan for success by setting clear goals and breaking them down into projects and then tasks. Ensure they have clear deadlines and reverse engineer the schedule based on your expected due dates.
And remember to set a gauge on your ROI so you have a way to measure the results be it in sales, followers, and outcomes.
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RESEARCH
Do your research on your customer. And I mean really get to know them, understand their needs and what they want from you.
What are the products they're drawn to and can't get enough of?
Figuring out who your customers are and where the browsing turns into buying is the sweet spot to selling more and doing less.
Because once you really know them you can tailor everything you do completely to them.
Focusing on the clients who actually buy from you, rather than anyone who stumbles across you, makes it easier for you to sell to them time and time again.
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OPPORTUNITY
Look for the untapped opportunities in your business and learn to lean into your best sellers. If you have products that are doing really well then keep selling them.
Put your resources behind those products, have confidence in them and allow them to shine. Spend your time and energy on them rather than the products that don't benefit your bottom line.
And remember, 80% of your sales come from 20% of your products.
So identify those best sellers, then see how they can help lift the sales of your other products by creating bundles in your offers.
Could any of your best sellers be a two or three-pack? Could you combine them with a poor-selling product to move inventory and up your bottom line? Think about what you sell and how you could create some fantastic bundles that your customers just can’t pass up.
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FOCUS
It's time to become laser-focused on your business. It isn’t about doing MORE. It’s about doing more of WHAT’S WORKING. (Because if you’re not, chances are, you’re leaving money on the table.)
Remember how we told you to bundle products together? Well, now we're telling you to upsell!
Think about the last time you were shopping on Amazon and saw a box saying “Customer who bought this item also bought these two other items, want to buy all three?”
It's genius and of course, we usually do what Amazon tells us to and buy all three. It's upselling at its best and easiest so focus on how you can upsell your best-selling products.
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ITERATE
Maybe leaning into your existing customers or reaching out to your existing customers is key. Look at who is already buying from you and see how you can sell more to them.
You don't have to create something new all the time. Product development can suck time, money and quality from your business. Instead, think about taking your best sellers and iterating on them. Look at what people love.
Starbucks do this really well with their Pumpkin Spice Lattes they sell in the Fall. Come Christmas, they move that flavor spice profile to a Gingerbread Latte and then come the New Year, they release the Cinnamon Shortbread Latte.
See what they did there? They hooked that same customer on $5+ “Holiday Favorites” for about 4 months! Genius. So think about which product is your Pumpkin Spice Latte. Then iterate.
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TRACK
Too many business owners lose precious time and money by not keeping track of their business.
It’s important to track the promotions you do and note what worked and what didn’t work. That way you’ll have even more success the next time you run them.
Are you tracking your figures monthly, quarterly and annually so you can see how things are looking?
And don’t forget about the seasons. Which are your busy ones and which are your quiet ones? How can you prepare for the quieter ones and make them more profitable?
Meet the duo behind The Product Boss Quiz…
We created The Product Boss out of our own struggles.
In a sea of service-based advice, we needed more ideas and strategies that were specific to product entrepreneurs - to connect, grow, inspire and lift each other up in our businesses and lives.
We’re Jacqueline Snyder and Minna Khounlo-Sithep and we’re the combined force behind The Product Boss and the Shop 1-in-5 Pledge. We’re also the co-hosts of The Product Boss Podcast, a top 10 Marketing podcast.
We've both run our own successful product-based businesses and know exactly how you feel because we were right where you are today at some point in our product journey.
Jacqueline
“I didn’t have investment from some fancy financier or even a small business loan.
My business was 100% self-funded with $20k I had saved from working as a fashion designer.
With A LOT of hard work, I turned that $20K into a multi-six figure business with products sold in 60 countries and worn by a ton of celebrities.
...So if you’re living that bootstrap life, I GET IT.”
Minna
“When I first started, I had no idea what I was doing. I was 100% self-funded, had to wear allllll the hats, and figure everything out by myself.
I hit 6-figures selling a $10 product in my first year. But I felt so lost, confused, and like I was winging it (because I kinda was), and when I wanted to hit that next level...
...I STILL COULDN'T FIND SUPPORT FOR PRODUCT-BASED BUSINESSES!”
Now we help product-based businesses, like yours, grow their systems, visibility, and sales to create the life and business you want.
We’re honored to say we’ve coached over 60,000 thousand students in our courses, workshops and masterminds – anywhere from start-up to multi-million dollar small businesses. And we want to show you what is possible for you using our methods and frameworks created specifically for physical product businesses.
We have grown a community of high-achieving product-based small business owners scale their physical product businesses out of their living rooms and beyond.
We’re connecting women around the world through a blend of real-life motherhood, creative strategy and business leadership.
Are you ready to make BIG moves this year?
You've taken the time to complete the quiz and now it's time to take action.
This is your VIP invite to our exclusive, free workshop series to help product-based business owners set themselves up for success in 2023!
Discover how to implement your quiz results and more…