Icon By iconsmind.com
We all need tools to do our work, build our businesses and make processes more efficient. However lately I’ve been feeling that our ability to buy has surpassed our ability to implement WHAT we buy. Money regularly stops us from being creative. We buy generic solutions instead of working to create a tailored fit. The products that we buy can only take us so far.
What if, for a little while we didn’t buy anything extra. Nothing for our business, no new tools to speed up the work we do.
Sounds a little boring, right?
It’s easy to forget that the purchase isn’t the fix.
The benefit comes from the implementation. You can hand over the money for a fantastic product and still get zero benefit. The only things that separate your business & others that use the same tools as you is effort.
Buying more takes us directly away from increased profit. Instead we should regularly try to get every last drop out of the tools we already have. Assess what we have access to, what we’re already paying for and pour our effort into putting those tools to use before we look for new ones. Chances are we haven’t even scratched the surface of everything we own yet.
I’m always interested in trying new products but for now, I think I already have enough.
Now I know that fellow product makers will dislike this advice after all, we’re always after new customers. Those are the metrics that matter. What should matter more than new customers is seeing your existing customers succeed. A loyal customer base comes directly from helping users to implement what is right for them.
Product owners, are you helping your existing customers more than looking for new ones to cover the churn? Remember, the most common reason for product cancellation is “Didn’t have time to use it.”
- If your product business has inactive users – cancel them.
- If you have trial users – remind them.
- If you want engaged users – teach them.
If you want to keep your customers, help them to master what they have.