- Understand what productizing your offer means and how you can apply it
- Find out how your ego can make or break your business and your sales flow
- Learn why you should narrow down your offers instead of trying to cater everyone’s problems
- Want to know more ways on how you can grow? Click here: linktr.ee/tristanwright
Do you want to stop being scared and start productizing your offers for a guaranteed continuous flow of income?
You can’t always be giving a custom solution to everyone’s problems– it’s just never going to work. You got to think of a solution that you can rinse and repeat anytime anywhere.
Tristan Wright is the Chief Business Sherpa at Evolve to Grow and is the Creator of “The Business Evolution Framework”. He is a 7-figure business owner himself and his model has changed the lives of busy entrepreneurs across the globe, taking them from feeling like they are running on a business hamster wheel to being able to work by choice.
Tristan shares with you a piece of his cake on how you can secure clients without stress and constant customization by taking action through productizing your offer.
Check out these episode highlights:
- 01:29 – Tristan’s ideal client: Well, ideal clients are B2B service-based business owners, typically those who have a creative streak. So, people that like to customize their offers, and be creative.
- 02:05 – The problem he helps solve: We’re talking today about productizing your offer, but at the end of the day, my ultimate objective is to help business owners run profitable businesses without their daily inputs.
- 03:56 – The symptoms of the problem: Most of the time, they’re probably going to be working after five or 6 pm. They’re going to be going home having dinner and then after dinner, asking all their email questions from clients for custom bespoke things and clients following up saying, “Why are you doing this? Or why are we doing it this way? Let’s change this.”
- 04:49 – Clients’ common mistakes before consulting Tristan: The biggest mistake is not taking action. It’s being scared that if they change their business model into a productized offer, they’ll lose clients.
- 05:40 – Tristan’s Valuable Free Action (VFA): Don’t try and be everything to everyone. Narrow down your offering, become the best in the world at one thing for one market, and let everyone know that that’s what you are.
- 06:15 – Tristan’s Valuable Free Resource (VFR): Want to know more ways on how you can grow? Click here: linktr.ee/tristanwright
- 07:01 – Q: What does the impact of ego have on your business? A: We need to park our ego just because we’ve done something our own way doesn’t mean it’s the best way. We need support from others.
Tweetable Takeaways from this Episode:“Don't try and be a full-service marketing agency for every single industry.” -Tristan Wright Click To Tweet
(Note, this was transcribed using a transcription software and may not reflect the exact words used in the podcast)
Tom Poland 00:10
Greetings, everyone, and a warm welcome to another edition of Marketing the Invisible. I’m Tom Poland beaming out to you from the Sunshine Coast in Queensland, Australia, joined today by Tristan Wright. Tristan, good day. A fellow Aussie! Welcome, sir. Where are you calling in from?
Tristan Wright 00:23
Thank you very much for having me! I’m calling you from cold Melbourne today. We’ve had 30 degrees the last couple of days and we’re back to our normal cold Melbourne weather.
Tom Poland 00:31
I’ve heard it’s been a long, cold, wet winter in Melbourne. Man, you’ve got to move up North where the sunshine is, but we’ll get off climate and geography and back on to your specialty. Folks, if you don’t know Tristan, he’s the Chief Business Sherpa at Evolve to Grow, Sherpa being your guide for growth. He’s the creator of “The Business Evolution Framework”, which is a seven-figure business owner himself. His model has not only changed his own business and his own life but countless lives of busy entrepreneurs across the globe. He’s got a really interesting subject that he’s known as today, if you feel like you’re kind of running on that hamster wheel, that you don’t have enough time and you’re still scratching around for you know how to serve as clients and so on, this is going to be a very valuable interview for you. The title today is, “Why You Should Criticize- Productize, I’m sorry. “Why You Should Productize Your Offer”. Tristan, I’m going to start the countdown timer. Our seven minutes start now. Our question number one is, sir, who is your ideal client?
Tristan Wright 01:29
Well, ideal clients are B2B service-based business owners, typically those who have a creative streak. So, people that like to customize their offers, and be creative. So, like a marketing agency or design agency or graphic designer, going down a tiny bit deeper, like maybe 3 to 15 staff is would be where my ideal clients are.
Tom Poland 01:51
Thank you for that! And that makes the problem you solve even more interesting because of their very often custom bespoke, rinse and repeat but reinvent the wheel for every client. So, tell us, question two, tell us about the problem you solve. How would you define that?
Tristan Wright 02:05
We’re talking today about productizing your offer, but at the end of the day, my ultimate objective is to help business owners run profitable businesses without their daily inputs. And for that, we need to move to productize offers as quickly as possible.
Tom Poland 2:24
What do you mean by the productized offers?
Tristan Wright 02:25
Rather than having a custom solution- sorry. Rather than having a custom solution and reinventing the wheel every single time, it is narrowing down and knowing “This is what I’m good at. This is what gets results.” So, we say, we’ve got an SEO package. And this SEO package, we have three different services, and we deliver that rinse and repeat. Or we’ve got a website service and we deliver a small, medium or large solution of that.
Tom Poland 02:51
Okay. So, it’s, they can, if you like, commoditize or have an offer that frees up their time because they can rinse and repeat the same solution to a common problem. Is that a reasonable summary?
Tristan Wright 03:03
Correct! A good way to describe it is as a business owner, you should create a menu like you go to a restaurant and you’ve got a menu to choose from. You’ve got your entrees, you’ve got your mains, and you’ve got your desserts. And you go and choose an entree, your main dessert. As a business owner selling your product, there should be five items on the mains, five desserts, and five entrees.
Tom Poland 03:24
That’s a great analogy! I mean, can you imagine the stress in the kitchen of a good restaurant, if everyone just walked in and ordered whatever they want without any menu? That’s going to be one stressful shift! And folks-
Tristan Wright 03:34
And for so many business owners, that’s how we operate. We think we’re making a chicken parm each day, but we’re making different variations of the chicken parm every other day.
Tom Poland 03:43
Ingredients are different. It’s stressful work. And it’s low profit, and it’s high volume. So, let’s move on to a couple of quick- question three, what are some of the typical symptoms that someone’s going to be experiencing in their business if they need your solution?
Tristan Wright 03:56
Most of the time, they’re probably going to be working after five or 6 pm. They’re going to be going home having dinner and then after dinner, asking all their email questions from clients for custom bespoke things and clients following up saying, “Why are you doing this? Or why are we doing it this way? Let’s change this.”
Tom Poland 04:14
Yeah, so they’re out of time because they’re not- they can’t deliver the value in an efficient manner. I guess that’s the big one, is it? They’re just working too long and too hard?
Tristan Wright 04:23
That’s the simplest one. And the other one is they probably raised a glass ceiling and they don’t know where or what they need to change in their business to get their time back for it to become more profitable.
Tom Poland 04:34
Thank you for that. And so, we’re talking about people have started their own business, typically. They’re going to be growth orientated. So, they’re going to try things to break out of this trap. Question four is what would you say are a couple of the biggest common mistakes that people make trying to solve this problem before they find your solution?
Tristan Wright 04:49
The biggest mistake is not taking action. It’s being scared that if they change their business model into a productized offer, they’ll lose clients. So, they’re like, “This is making me money. Yes, I’m busy. I don’t want to take the risk of alienating my clients because if I alienate my clients or do something, I’ll lose them.” So, they’re allowing the clients to end the relationship.
Tom Poland 05:16
Right. And they probably don’t realize that whilst it might alienate some of their existing clients, we won’t alienate the new ones because the new ones don’t really care how they get the solution as long as they get it. So, let’s move on to some advice for folks. We’ve got just over two minutes left. A top tip. It’s not going to solve the whole problem, but it might get people started, you know, a step in the right direction. What’s one valuable free tip you could give folks?
Tristan Wright 05:40
Don’t try and be everything to everyone. Narrow down your offering, become the best in the world at one thing for one market, and let everyone know that that’s what you are. Don’t try and be a full-service marketing agency for every single industry. Be the best SEO agency for the property development industry in Victoria.
Tom Poland 06:01
Right. Niche the specialty you offer or the market or both? Where can people go to get more information? Question six is to give us a valuable free resource, a URL people can go to, to find out more about your solutions.
Tristan Wright 06:15
You can jump on; I’ve got a link tree page. It’s linktr.ee/tristanwright. And I’ve got an eBook on there called Unicorns Are Myths, Profits and Freedom Shouldn’t Be. So that eBook literally walks you through the process that’s how to increase your profits, and get your freedom back.
Tom Poland 06:34
And it’s free, folks. You go to www.link, L-I-N-K-T-R, .ee. So that’s linktr.ee/tristan, T-R-I-S-T-A-N, Wright, W-R-I-G-H-T. Linktr.ee, remember there’s the full stop before the two e’s, tristanwright. 30 seconds left, sir. Question seven, what’s the one question I should have asked you but didn’t?
Tristan Wright 07:01
What’s the question you should have asked me? What does the impact of ego have on your business?
Tom Poland 07:08
Oh, yeah. Okay, in less than 12 seconds, what does the effect of ego have on the business?
Tristan Wright 07:13
We need to park our ego just because we’ve done something our own way doesn’t mean it’s the best way. We need support from others. We just want as- we’ve got the same end goal. It doesn’t matter which way we get there.
Tom Poland 07:24
Tristan Wright, thanks so much for your time and your insights.
Tom Poland 07:28
Thanks for checking out our Marketing The Invisible podcast. If you like what we’re doing here please head over to iTunes to subscribe, rate us, and leave us a review. It’s very much appreciated. And if you want to generate five fresh leads in just five hours then check out www.fivehourchallenge.com.