I've been in creation mode lately with ReNursing Edu and wonder how many other business owners actually listen to what their clients want and create unique products for their business to maximize profits.
When I started ReNursing Edu (formerly ReNursing Career Consulting) my business was born out of a book I had written about nurses starting their own business. After I wrote that first book I said I was done and wasn't writing anymore books (that turned out to be untrue considering I have about 20 titles to my name now!).
I thought I'd make money with my blog alone (which I've found incredibly hard to do) and didn't focus too much on product creation. I was obviously wrong and wasn't making any money blogging or even "consulting" as I thought I would. Apparently, when I started my business, I was too focused on myself to even consider what my clients would want from me.
So many businesses don't stay afloat because they don't go with the flow and adapt to what the consumer wants and needs. I didn't really start making money until, you guessed it...I started listening to my client base!
It wasn't until I had my business for a few years that I realized I needed to change some things up in how I conducted business if I wanted people to look to ReNursing Edu for education like I had originally intended.
I researched my client market and listened to them...this how my books on NP education came about. The first NP book, in turn, developed into products that help NP students and newer NPs in clinical practice. These products have turned into a way to help my fellow NPs and supplemental income for me...a win-win situation if you ask me!
Product development doesn't have to be hard. When I say products, I mean anything that you can brand that is pertinent to your business. Since I'm educational-based, books work wonders and so do hands-on products that nurses can use in the clinical sector.
Take a hard look at your business and start to listen to what your client base is wanting and needing. Become a private investigator for your business and find out what your clients want, what your competitors are doing right, and what they are doing wrong.
Research your market until you get to page 36 of your Google search if you have to. You can't expect all the answers to be on page 1! Join groups relevant to your industry on local and social media outlets. Find forums on your industry and read the posts, look for the trends and make a mental note.
Doing the research as a business owner can sound tedious, but it's the best way to find out what your target client market wants and needs. Once you figure that out, you can stay on top of the competition and do really well for yourself. Remember, this is not a one and done type of project, this is something that needs to be ongoing to keep up with the ever-changing trends and technology that affects all businesses.
As I mentioned earlier, books and educational products work well for my business, but what products and/or services can you offer in your business that will work well for you? What have your clients been asking for that you found in your research?