I have been taking a course on creating and launching products and programs – something I find to be very valuable to my business because I can leverage my time and my income is no longer tied to my ability to be present “real-time”, in-person.
One important thing that I learned from my coach Steph is the concept of the “Minimum Viable Product” (MVP). This is a term very often used in software development, and it simply means a product/prototype that is small in scope but enough to illustrate an approach, an idea or a concept, while totally functional and provides value.
When translated to developing a program or product (I am going to use these two terms interchangeably to avoid wordiness) for your coaching business, it can mean the creation of a product that is small in scale (e.g. one audio file and one set of handout) and focuses on one specific problem that you are helping your target market to solve. An example is a program with an audio component and a set of handouts, showing people how to cut down on their sugar dependency.
Because of the small scope, an MVP often requires less planning, is easy to create, requires less technological support, and doesn’t put a lot of pressure on your time. It’s also a great way to attract new clients from a lower entry point, and test the market to see what topic gets good traction, and what format appeals to your target market. Good examples are my Guide to Positioning, Creating and Marketing Profitable Information Products, and Guide to Creating Your Membership Site in 90 Minutes with $0 Upfront Cost.
So how to pick a topic for an MVP and get it out there fast? “Keep It Simple Stupid” is key 🙂
Here are a few examples:
- Do you have a “monster program” that you have been planning but never seem to finish? Select one aspect of that program, and create a smaller product (e.g. ebook, 4-week program, home-study program) that focuses on just that one topic. If you develop enough of these smaller-scale products, test the water and get feedback, before you know it, you have all the materials you need for your “monster program”! Plus you would have gotten paid along the way while you create and sell these products!
- Have you written enough blog posts, articles, newsletter content on one specific topic that you can pull them together, curate them into a sequence that makes sense? Yes? The very least, you are sitting on an ebook!
- Have you run a group coaching program, have all the handouts and recordings of the calls? Put all these together and you have a home-study program to sell!
Still don’t think you have a good idea for an MVP? Check out our Done-For-You Programs – they are perfect materials to create an information product that helps you get more people to start buying from you! With materials for you to quickly put together an audio instructional component, a handout package and a sales page, these Done-For-You programs will get you up and running in no time!!