A Simple Framework For building sustainable high income products & services
Look at any succesfully product or service and you will quickly discover that they all share a number of commonalities that make thier success not only possible, but highly profitable.
Do you want to be able to quickly develop your own high demand high income products and services that your customers love? Following my QSS, (Quick, Small and simple) product and service development framework can help you do just that.
My QSS development framework will not apply 100% to all areas, opportunities and circumstances but the more of these guiding principles you can apply to the design of your own products and services the more income and profit potential you will expose whilst minimising uncertainty, effort and time investment required to do it effectivley.
When considering your next opportunity or fleshing out your latest startup idea, keep the following development criteria in mind.
- Principle 1: Follow the QSS philosophy, meaning Quick, Small and simple to produce.
- Principle 2: Must Add tangible and most importantly measurable value to a clearly defined audience.
- Principle 3: Has high market demand.
- Principle 4: Are highly consumable.
- Principle 5: Has repeat business potential (repeat sales, upselling, cross selling, down selling).
- Principle 6: have a clear and where possible difficut to replicate unique selling point.
- Principle 7: Can be easily and efficiantly duplicated and multiplied and as such can quickly scale..
- Principle 8: Premium prices can be charged.
- Principle 9: Can be automated as much as possible via processes and systems (removing your time and effort involvement and in doing so leverages passivity).
If you have a cost-effective consumable product that your customers will purchase on an ongoing basis (think repeatable models like subscriptions here) with a way of adding value to enhance the offer, at a price that customers are willing to pay you a premium for you will have a great business model. Integrate that with a captive market and you will be onto a sure-fire winning formula.
