What If My Product Doesn't Solve A Problem?
If you’ve been reading this blog, you’ll know by now that I believe if you can properly solve the problem, your solution sells itself. I’ve had a few clients and business owners reach out to me and ask what happens if their product or service is a value add that doesn’t necessarily solve a specific problem. So, I wanted to address this in a quick post.
Even if your product or service is a value add and an item that is supposed to make an already good life better - don’t make the mistake of thinking it doesn’t solve a problem. The status quo is often the biggest problem. And, there is an opportunity cost of staying with the status quo when there’s something better out there. You need to quantify that for your prospect.
Let’s hash this out with my favorite fictional (and least necessary) product of all time, the everlasting gobstopper! Here’s this great piece of candy that never runs out of flavor. Amazing! But it’s 15-dollars?! Are you crazy?! A pack of gum is 50 cents.
But what if before I tell you anything about the everlasting gobstopper, I ask you if you chew gum? Sure, you do. Well, the average person who chews gum in this country, spends over $200 a year on it. Most of which loses its flavor in less than one minute causing them to have to discard 5-6 pieces of gum or more per day. Each of these trash trips takes approximately one minute, so you’re costing yourself 6 minutes per day, 42 minutes per week and 36 hours a year throwing out gum. What could you do with an extra $200 and 36 hours in your life this year? Have a quick overnight trip to Vegas would be my first choice.
If you can’t quantify the cost of the status quo with actual numbers for cost or time, you need to appeal to what the product represents. People don’t wear Gucci because it’s the cheapest clothes that are warm, they wear it because they gain status and it looks nice. What problems do looking nice and having status solve? A bunch obviously, since there is a multi-billion dollar industry dedicated to it.
If your product or service doesn’t uniquely solve any problem (either actual problem or opportunity cost) at all, you may need to rethink your business because by definition - a successful business must solve a problem. My guess is this is not the case though (especially if you currently have clients) and you’re just struggling to articulate it. If you are still struggling to understand what problem your business solves, feel free to email me at Dom@thecleansell.com and set up a free-30 minute session and I’ll try to help you the best I can.