A simple framework for choosing the right product for you to create is the three Cs of the Product Food Chain: Capture, Create and Congregate.
The first level of product creation is to capture what you’re already doing.
For instance, in Speaker mode you can make an audio or video recording of you in action. For a coach, catch the questions you ask your clients and put them into a questionnaire or workbook.
The beauty of ‘capture’ mode is that it affordable, takes very little time and builds upon your current activity.
The second level of product creation is to combine a number of your ideas into a single artefact.
For instance, a trainer may create a card or board game. A mentor may write a book about the people they have helped.
The aim of ‘create’ mode is to build something new that adds a different level of service and delivered in a new format. This is why it costs more, takes more time to develop and takes your current activity to a new level.
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The third level of product creation is to build your own community.
For example, a membership site where you charge a monthly subscription fee, provide webinars, ebooks, audio and video resources.
This level requires a considerable collection of intellectual property, a commitment of time and an existing pool of fans to draw upon.
In a business, you may choose to build a community much earlier if this is central to your business model. However, in the early days of your practice, this is too resource hungry to be effective plus you won’t have the numbers to make your online space come alive. Instead, you can build to this level by compiling email lists, connections on Linked In, friends on your Facebook fan page and Twitter followers.
TIP: To avoid making a big product mistake, review where you’re at on the food chain before deciding whether to capture, create or congregate.