Should I create a product or a service? Now even though the obvious answer would be well of course you want to promise a product because it doesn't take up your time and it's highly scalable, but here's the thing. The reality of it all is most people, If we are starting out it could be tough to create a product And we might want to start off creating services, And we might want to start off by creating services, Now first of all, let me define what services is, A service if you're being paid based on your time.
So, if you're a coach, if you're a consultant, if you're a freelancer or anything like that, you're selling a service. which let's face it if you're bootstrapping, we all might need that, and we all go through that at some point. But here's the thing I want you to take away. If you are providing a service you need to understand that during the good times, where you're getting a tonne of orders from your customers, you're going to hate your life, why? Because you're going to realise you have no life. So, at the very least you are providing a service right now, you want to think about scaling by asking yourself this thing.
Are you right now documenting your journey? Are you at least creating a digital asset from it so that one day it becomes a part of the product? Think about it, so far, right now, what I'm doing, even though I'm doing events, I could be speaking, I could be doing coaching for my high level clients, the one thing i will never fail to do is I will always document it because I'm creating a digital asset from this so that it becomes part of the digital product. Whatever it is I'm trading my time for money, I'm always creating a digital asset from it.
So ask yourself right now this question, what are you doing in your life right now that you're just giving your time away? As a coach as a consultant, and how you document it? Perhaps put it down in writing. Perhaps having it transcribed. Perhaps having it on video so that eventually you're creating a product or a digital asset from it. That is the end game That is how it becomes highly scalable. and that is where you can leverage it and when the sky is actually the limit.
So, if you're a coach, if you're a consultant, if you're a freelancer or anything like that, you're selling a service. which let's face it if you're bootstrapping, we all might need that, and we all go through that at some point. But here's the thing I want you to take away. If you are providing a service you need to understand that during the good times, where you're getting a tonne of orders from your customers, you're going to hate your life, why? Because you're going to realise you have no life. So, at the very least you are providing a service right now, you want to think about scaling by asking yourself this thing.
Are you right now documenting your journey? Are you at least creating a digital asset from it so that one day it becomes a part of the product? Think about it, so far, right now, what I'm doing, even though I'm doing events, I could be speaking, I could be doing coaching for my high level clients, the one thing i will never fail to do is I will always document it because I'm creating a digital asset from this so that it becomes part of the digital product. Whatever it is I'm trading my time for money, I'm always creating a digital asset from it.
So ask yourself right now this question, what are you doing in your life right now that you're just giving your time away? As a coach as a consultant, and how you document it? Perhaps put it down in writing. Perhaps having it transcribed. Perhaps having it on video so that eventually you're creating a product or a digital asset from it. That is the end game That is how it becomes highly scalable. and that is where you can leverage it and when the sky is actually the limit.
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