← The Product Boss with Jacqueline Snyder
The Product Boss with Jacqueline Snyder
739. Focus Fix Multiply: The Product Business Framework for Consistent Sales
00:22:43
Loading summary
Transcript19 lines
- [00:00]
A
If you don't know what to work on, then you're going to end up working on everything. And that's how you stay busy without moving to that next level. So today, I'm going to help you figure out what you're going to focus on, what you're going to fix, and then what you can multiply so that you have the momentum to move forward fast and get to that next level in an even easier way.
- [00:28]
B
Hi, I'm Jacqueline Snyder and this is the Product Boss podcast. I've helped launch and grow thousands of product based businesses, even one of my own. And over the last 20 years, I've seen behind the scenes of businesses just like yours. Whether they are makers, manufacturers, artists, or food and beverage businesses. I have spent so many hours studying it all.
- [00:47]
A
I've discovered what makes them successful, what.
- [00:49]
B
Mistakes they could have avoided, how did they turn their ideas into a successful business, and what are the strategies that they have used to make more sales and be discovered by more customers. And this is what this show is all about. Whether you're just starting out or you're looking to become a million dollar product boss, I'm here to give you the permission to chase your dreams no matter.
- [01:07]
A
How big or small. All you need is the right mindset.
- [01:10]
B
A little courage, strategy and support, and you too can be the next million dollar product boss.
- [01:15]
A
Let's do this. Welcome back to the Product Boss podcast. I am your host, Jacqueline Snyder. And here we teach real business strategy to product based entrepreneurs no matter what you sell and no matter where you sell it. So if you're selling on e commerce, maybe online, you're selling on Etsy, Amazon in person, markets on different marketplaces and sales channels, wholesale, even fair or a mix, you are in the right place. So today's episode's not about more tips. It's actually about a framework that we've established here at the Product Boss. It's actually the core framework in which everything is built on. And so I'm going to teach it to you today and then give you steps to take next. And by the end of this episode, you're gonna know exactly what stage you are in. You're gonna know whether you need to focus, fix or multiply in this moment. And then you're gonna have a clear plan to move forward in this week so that it's going to match your stage and help you get to that next level. Because honestly, the fastest way to waste time, the thing that's probably keeping you stuck or not able to break through to that next level of business is that you're working on the wrong things in your business right now. Okay. So in my over 20 years in business, I mean two decades in business, what I've seen is a pattern no matter what level you're at. So if you're just starting out, maybe you're under $2,000 a month or you're in that range of $2,000 to $10,000 a month, maybe you're 10,000 to 30,000 or 30,000 to 80,000 plus. Right. That gets you to your million dollar business no matter where you're at. I see product based business owners go through these different cycles, or what I actually see is the mistakes that they're making that are keeping them and preventing them from getting to that next level. See, so whether it's someone that I've worked with that's just started out with a few hundred dollars in sales, or someone who's got a multi six figure business that wants to break through to a million dollars, this is the framework that we use. It's focus, fix, multiply. So let's break it down. No matter what level you're at, the first part is focus. Cause yes, my friends, as entrepreneurs, we have a million tabs open in our head. We have a ton of ideas for all the different things we wanna do and create and make and sell and all this stuff. But that lack of focus is actually probably one of the biggest things keeping you from that next level. Okay, it's keeping you from that next level. So focus means. And it's very dependent, right? It's dependent on your business. And this is something in the sales accelerator that we work on in the first few weeks in there because it comes with six weeks of live advice and strategy. Right. With your cohort. So it's something that we do right away, which is focused on. And that's actually something that we do in the Bestseller Secrets challenge. It's a totally free five day challenge. We're actually registering people right now for it. So if you're listening in real time, you can sign up for it. It's bestsellersecretschallenge.com or you can just click a link in the show notes so you can head to bestsellersecretschallenge.com we run this challenge maybe once or twice a year. Right now we're running it in January. And in that we're gonna help you focus. So we're gonna figure out what you're known for. So one of the biggest parts, one of the biggest things that I do is That I teach people how focus on whether it is what they're known for, a product, a category, a bestseller, and in the season that you're in. Because every season our bestsellers or our products might change. Not necessarily the categories, but what we're selling. The other thing about focus, it could be focusing on what's working in your business right now. Right? A lot of us get shiny object syndrome. Perhaps you are starting to send emails and emails are working. Focus on emails. Don't then say, okay, I'm also going to add on starting a podcast or, I don't know, like, getting on TikTok this week. Right? Like, how do you focus on what's working? How do you focus so that you know what you're leading with, so that you know the standards you're creating in your business so you have something to repeat over and over and over? So a lot of times it starts with product. It starts with your ideal customer avatar. So it's focusing on your ideal customer. It's focusing on what you're selling, it's focusing on when you're selling, who you're selling it to. Why? Right? We start with that. We start with the focus. The next part of this is fix. Oh, fix is a big one. Julie Ross, shout out if you're listening to the show. Julie Ross once said that she felt like she was building a castle on top of IKEA furniture. I took it a step further and I made it a sandcastle on top of IKEA furniture. And we're missing screws. Okay? So at any point, your business could. Could break. So what we really have to do here is think about what needs to be fixed in our business. It's kind of the same concept. It might be fixing pricing or your profit margins. It might be fixing photos or your website and how your website converts or your product listings. There's just different things in our businesses, right? It could be the brand and how it's showing up. It can be the price points or margins. It could be who we're selling it to. Like maybe you've been off and who you're selling it to, and we have to actually fix that. It could be your launch strategies. It could be how you sell, fixing the platform and what you're selling on. I mean, you and your head right now have probably come up with 10 different things you can fix in your business. So we focus and then we fix. And we can't fix everything, so we fix the thing. That's the biggest thing getting in the way, right? The biggest thing that's kind of blocking our sales. So one of the things that I know a lot of my sales accelerator students do is they focus on the product, they focus on the ideal customer, and then they fix one thing that that is probably off. A lot of times it's pricing and margins and how they're making offers and how they're selling. Okay, so this is that first part, focus and fix. And at every level it either repeats itself or there's something new to focus on and then something new to fix. Now the next part is multiply. Focus, fix, multiply. We cannot multiply, we cannot grow with an unstable broken foundation. Which is why it's so important for us to focus and then to fix. Because if it's not fixed, what's the point? Right? Let's say you're not making a lot of money. Like you don't have good margins on your product, you don't know what you're selling and you don't have good margins. And then you try to sell more of that. Maybe you start to sell wholesale or you want to build your own website, you want to go to some big market or take on some sort of big event. If there's something broken in the business that hasn't been fixed, you're really just going to be leaking profits, it's just going to be leaking. So if you could solidify that foundation and really, you know, a lot of this is quick work in sales accelerator. It's like six weeks of us doing focus and fix and sales, right? But we focus, fix, and then we sell. And then we go back in and we're like, hey, what do we need to focus on? What do we need to fix? And then we sell. And all of that happens in the first six weeks before they even consider multiplying, which is getting on other sales channels using other people's audiences or multiplying what's working. Okay, so as an example, you might be selling an in person markets and they do okay, and you could first think about how do I focus on the markets, how do I focus on the product I'm selling, what do I need to fix so that the markets actually sell better? And then what can I multiply? So it could be that you're multiplying your email list, that you're like, okay, I'm going to grow my email list at the show and then I'm going to multiply it by getting better at email. It might not be adding on anything new. Like you're not going to jump into wholesale. It might be a Leap into, I'm going to multiply email and start to drive sales to my website. But then when you drive sales to your website again, we go back to that framework of focus. What does the website need to be fixed? And then how do we multiply sales on that? Do you see how it says unlock? No matter what sales channel you're selling on that every time we look at it and there's a level up of what needs to be focused on, what needs to be fixed, and then how do you scale it? How do you multiply? It might be that we're multiplying for more sales where you're currently selling without any new customers, without any new offers. Again, sales accelerator students, we do that in the first six weeks. I'm like, you don't need a single new person to come. We can double your sales. And this is like an example. And people will double, triple, quadruple just by selling the same stuff that you have, the same people. We just get better at it. That's focus and fix. Then multiply comes with, okay, can we do more of this? Or now we're going to add on another sales channel, for example, selling online and driving people there. Or I'm going to add on wholesale and now I'm going to start selling to retailers. Or I'm going to start selling on Amazon. I'm going to take my one bestseller and get it on Amazon and sell directly. There's. Do you see how this starts to flow? And it works at every single level. So we don't do all three at once. We work on the right one in our business. And some of you might be like, I know my bestseller, but something's broke and I need to fix it. Or you might be like, I fixed a lot of things this last year. I know my, I know what I'm focusing on. I actually want to grow. I'm in like grow mode. I'm in multiply mode. Right? So we're all at these different steps in our businesses at different times and different level ups require us to go back through this cycle. Okay, so here's a little bit of like a diagnostic to figure out what needs to be worked on first. Are you focused? Are you fixed? Are you scale? Okay, so we're gonna ask you a few questions and you get to answer them. And if you're getting like two or more of those questions that you're like, yep, that's me. That might be your stage. So let's talk about focus. So focus might be like, I don't know what I'm selling. I don't know what I'm known for. So if you don't know what you're selling, what you're known for, what your bestseller is, that might be time to focus. Maybe you don't know what to promote this week. So you've got a bunch of things, but you don't know what to sell or how to sell it, or customers are always asking you, what should I get? So if that's you, you might need to focus, right? You might need to say, okay, I gotta dig back deep in. And you might even be like, I don't know who my customer is. My customer's everybody. Your customer's not everybody, right? So that's when you would say, all right, I have to focus. I might have too many SKUs. Because a lot of Etsy coaches are telling you to make a whole bunch of stuff. So you might be like, okay, I gotta focus in and make less product. I need to focus on how I'm gonna promote this stuff every single week. If you're like, at a higher level, you might even decide like, oh, I need to focus on finding someone to produce my product so I never have to hand make it again, right? So you really get to think about which part you need to focus. So this is your fixed diagnostic, right? Is that people show interest, but they don't buy. People walk into your booth and they don't buy, or people land on your website and they don't where you're not making money, you're selling, but there's nothing left to show for it, right? There's no revenue left in your bank account, in your pocket, you're not paying yourself. Another fix could be that people are coming to your website, they're landing on your product page and they're not buying. Or you're sending emails and they're not clicking. So there's something there that feels broken that you get to focus on. So the problem might not be your product or even the email. It might be a deliverability issue. It might be the way your product listings and your photos photos are set up. It might be, you know, you're sending an email and the way it clicks through doesn't work. There's lots of different things that can get fixed. It could be if you're not making money, that we get to look at your margins and really work on your pricing. And so that's really the fix place that you might be. And now if you're in multiply to diagnose with our multiply is the Stage that you're in, you have something working, and it's working really well. Okay. You're like, well, I started sending emails, and people are starting to buy from my emails. So that might be something that you're not only focusing on, but you're multiplying, you're sending more of them, you're getting better at it. Or you might be like, you know what I'm doing markets, and I know my best sellers. I know who my customer is. I'm priced correctly, and things feel like they're finally clear and they're working. Now it's time for me to start selling wholesale, for example. And so you might be like, I know what I'm selling. I know how much I'm selling it for. I know the people I'm selling it to. But now I want to. I want to sell wholesale. I want to get in front of other eyes, right? That's how Kim Kardashian and Carrie Underwood wore my products, because I was selling wholesale and in stores. So you might be in multiply. When you promote, you sell. When you show up somewhere, you sell or you have one product, one offer, a bundle or a product line that consistently sells, the question isn't, will this sell? The question is, how do I sell more of it? Because you've answered those questions. If you're in this stage, then you are in the multiply stage. So most people don't need new strategy. They just kind of need to know what stage they're in and what they're going to focus on in this month. Now, sales accelerator students, those of you that are in there, or those of you that are going to join our next cohort, you're going to see us move through these pretty quickly. Like week by week by week. We're going to break it down. And the places that I see the biggest pain point of where you're not focusing, right? What needs to be focused on, what needs to be fixed. And then the unlock at the end of all of it is where we get to multiply how you get in front of other people's audiences. How do you sell more without ads, without social media? So this is really the cadence, and this is the unlock that I've seen. I've seen people go from $300 months to $2,000, $2,000 months to $8,000 months, $8,000 months to $35,000 months. People who were hovering around six figures to a million dollars in a year, right? Or maybe they were just starting to a million dollars in their first year. All of this happened because of the way that they went through this exact same structure and framework that I'm sharing with you in this episode. So a place that you might get stuck is thinking that focus, fix and multiply are like long, long, long stages. In fact, they're projects. They might even be projects for my more advanced business owners out there. They might be projects that are working at different times. In the collective, for example, we work in 10 week sprints. So in the collective, they're usually picking within like 10 weeks, which is less than a quarter, something to focus and fix or something to focus and multiply. Right. We're working in a different way in that, that program. A lot of Sales Accelerator students go into that program and you'll hear more about it later. But right now with Sales Accelerator, it's like, how, how do I accelerate your sales? Like, how do I support you in that? And it's like, what do we focus on? What do we fix and how do we accelerate? So what I want you to think of these as is our projects and you as a CEO get to really think, well, what does my business need right now? What's the diagnosis? A lot of times you can do focus in an hour, you can do focus in a day, you can do fix in a week, and you can start to multiply and really think about that growth level. The moment you realize that something's working and then you start to add on something to your business. This is how you double, triple, quadruple your business. This is how you grow your business faster. So when you're doing this, when you're working in these projects of focus, fix and multiply, that's when we're going to collapse timelines. I've talked about her before. I'll talk about her again. Sarah Cornwell Jewelry we worked with her. I worked with her when she had been in business for over a decade on Etsy and handmade markets selling handmade jewelry and could not cross the six figure mark. It just wasn't happening. So she worked with me in a smaller group and you know, as her consultant and her advisor and listening to the show and she's been in the sales accelerator and that was the unlock because for her, one, it took mindset and then it took focus. I share her story inside of the Bestseller Secrets challenge where she really identified that she was known for dainty jewelry and, and necklaces and earrings were her bestsellers. And she had a different, she had different bestsellers still necklaces and earrings and dainty but different bestsellers on etsy than she had at in person markets. And so that data of knowing what to focus on helped us grow her business. And eventually she grew her own website and built e commerce and now she has a brick and mortar. But it started with that focus and a lot of it was mindset of this is possible for you, right? She said, I seeded for her that she could hit 250,000 and then 500,000. Then she eventually hit a million. And she reported back, she's like, I hit a million dollars. I would have never thought it. And so what we did there is we collapsed timelines. A decade on her own doing it the way that she's been doing it, or listening to Etsy coaches or listening to people who are like make more, do more, da da da, or following this framework and how then in a year she hit, she went from 100,000 to 250 the next year to half a million. Within five years after working with me and in my programs hit a million dollars, we collapse the timeline. You can choose to do this alone and figuring it out on your own, but you're not, because you're here and you're listening to the show or you're watching it on YouTube. And those of you who go a step further and join a free bootcamp or join a challenge or join one of my programs, this is where you get to be supported not only with education and strategy, but with advisors and real time guidance and accountability and implementation. Because you're listening to this episode right now, we all have access to ChatGPT. Information is becoming a commodity. Education is becoming a commodity. But how do you apply this to your specific business? Where you live, where you sell, with your goals for your life? First you do this when you get to work with other people, with experts that guide you, okay? And that is the time collapser. So let's jump into how we're going to collapse time. What you're going to do in the next seven days so that you can get some things rolling in your business as well. Over the next seven days, this is what you're going to do. You're gonna decide the stage. Am I in focus? Am I in fix or am I in the multiply stage? And then over the next seven days, you're only going to work on that one thing. If it's focus, you're not allowed to move on to the next thing. Okay? So if it's focus and you need to figure out what your bestseller is, that's what you're gonna work on. If it's focus, and you need to figure out who your customer avatar is, or at this stage of business, or the product you're launching, who the customer is, that's what you're gonna focus on. If you're in fix and you figure out the one major thing in your business that needs to be fixed, it could be your pricing, it could be your product listings, it could be your website conversion, it could be your email open rates. That's what you're going to work on in the next seven days. You don't get to move on until that part of the project is complete. And then finally, if you're in multiply, that means something is working and you want to grow it. Whether it's on that current sales channel, that current thing that you're doing, or you're going to add something on multiply might take longer than seven days, but in that stage you're going to make a decision, okay, in the next seven days, this is the plan I'm going to create. It might be really easy that you're like, okay, cool, this is what I'm focusing on for the next quarter. I'm gonna stay super focused and grow my wholesale because wholesale is working, or I'm gonna stay super focused and grow my Amazon because Amazon's working. So you're gonna really think about that and then say over the next seven days, what can you create? Now, this doesn't mean that you're not still functioning in your business with all the things that it needs, but you're not doing something else. You're not adding something else on. You're not getting squirrely and shiny object syndrome and being like, but I'm also gonna go learn how to post more on Social and I'm also going to, I don't know, learn Amazon and wholesale and all the things at once, right? You want to pick one thing, when you're complete with it, then you get to move on to the next part. These little micro focus actions, whether it's focus, fix or multiply, and that discipline that comes with it is the thing that's truly going to move the needle in your business. Okay? But part of it is the discipline of staying still and creating one project, one plan around this. So that's what you're gonna do. You're gonna pick one thing, you're gonna stay on that project, and that's what you're gonna do in the next seven days. If you wanna share with me what you picked, what you're doing, come on over to Instagram, share it. And if not, if you're like, I still want help. I still, you know, wanna be guided through this. Come join me in the Bestseller Secrets challenge. We kick off, it's five days. Like there are replays available. We have vip, so so many people upgrade to VIP because not only am I teaching every single day, but then we have a private VIP VIP session as a group where I'm answering your questions specifically where there's implementation going on, where there's a bunch of really cool bonuses that you get, including an AI bonus. So I'd love to see you inside it's bestseller secretschallenge.com click the link in the show notes and I will see you in the next episode.
- [21:32]
B
Thank you for being here and listening all the way through the Product Boss podcast. If you love our show and it has helped you in any way in your business, would you mind doing two things for us? Subscribe to the show so you never miss an episode and leave us a review. Reviews help other product entrepreneurs know that this is the place to be to grow their businesses and realize that they're not alone. And we know that you all know that a five star and honest review helps you sell more products to more people.
- [22:00]
A
So you know that your reviews help.
- [22:02]
B
Us reach more listeners around the world.
- [22:05]
A
Remember, what we give is what we.
- [22:07]
B
Receive and we are all about helping.
- [22:09]
A
Each other in the Product Boss community. We are all in this together. We would be so appreciative of you if you could take the time right.
- [22:17]
B
Now to subscribe, leave a review and even share this episode on social or someone you know so we can impact more lives. And remember, subscribing means that you will get notified each time we release a.
- [22:28]
A
New episode so you never miss a thing.
- [22:31]
B
You have helped us grow and climb.
- [22:32]
A
Into the top 10 of all marketing.
- [22:34]
B
Podcasts and together we can keep climbing. Thank you friends and remember, there is.
- [22:38]
A
Room at the top for all of us.