35 minutes | Apr 22, 2015

GBS10: Ideas into profitable products

You've got tons of experience and a great idea, but how do you turn that idea into a profitable product for your business? In this week's show we talk about the key elements you need to consider when taking an idea into a product you can leverage for your business. What do you need to think about, how you can create the product, costs you can expect to incur and most importantly, what do you need to do get your customers to buy it! By the end of this episode, lots of tips you need to start turning that great idea into profit for your business. Listen here Subscribe here Click here to Subscribe to the Gritty Business Show on iTunes  (https://itunes.apple.com/gb/podcast/the-gritty-business-show/id975991464)and listen on your phone or tablet. To find out more about subscribing or to add the show to your Android or Windows devices, please click here (http://grittybusinessshow.com/subscribe-to-podcast/).   In this episode, we covered; * Where to start with transforming ideas into product * Identify your areas of expertise - what are you consistently asked for from your customers? * Deciding the format that's right for you - how are you going to deliver the product or course? ebook, video, webinars, teleseminars * How will they access the programme?  Download from your site, membership site, email * Deliverables and managing expectations * What is your funnel… where are you going to take them after they take the course?  What’s your upsell / cross sell * How much does it cost to create a course?  What costs can you expect? * VAT issues on digital products * https://www.youtube.com/watch?v=mDw2a9nfzdE (https://www.youtube.com/watch?v=mDw2a9nfzdE) - EU VAT Moss Webinar * http://www.womenunlimitedworldwide.com/european-vat-on-digital-products-and-vatmoss/ (http://www.womenunlimitedworldwide.com/european-vat-on-digital-products-and-vatmoss/) - VAT Moss article from Julie * How to engage customers * Marketing your products and getting customer to buy * Building your database before you need it * Facebook ads and forums * Building your tribe * Partners & affiliate marketing Tips * Identify your area of expertise * Be clear on what your customers are regularly asking for and struggling to receive from other places * Choose formats you enjoy using * Describe the deliverables upfront * Test the interest * Ship it!   Links and resources mentioned in this episode The stuff we shared in 'what’s cool' this week AGE UK '
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