Interim Executive Advice: Create a Product or Service that Sells
The best way to grow is to deliver a product or service that sells itself. Here’s how an interim executive advises you do it.
We’re all amazed by large companies like Apple, Google, and Walmart. They’re worth billions of dollars, their founders are among the richest people in the world and they seem unstoppable. But all these great organizations started with an idea. According to an interim executive, what makes an idea great is the market demand and execution. If you want to emulate the success of these industry giants, you just need a product or service that sells itself.
Solve a problem
The best products are solutions to real problems. You will find it hard to sell a product that needs you to chase customers. If instead, you’re solving a problem that has been overlooked by big companies or hasn’t got a good enough solution, you will find customers coming to you.
Start with a problem you’re facing yourself. That makes you your first user who can test the solution you’ve developed. Additionally, you will be armed with insights and knowledge from the perspective of a customer helping you make a better product.
Define how you are going to measure the growth of your product. The best way is usually by revenue, but you can also use other metrics depending on the nature of your product or service.
Once you’ve established how to measure growth, you can use it as a benchmark to determine whether or not your hard work is making an impact. Generally, if your growth is more than 10% per month, you’re doing well. But if it’s less, then you should go back to the drawing board and work on more ideas. You can also use growth as a way to test new features, projects, and ideas.