The Power of The Everything Store:
The power of Everything Stores (Amazon, Apple, Walmart, etc.) is that they have integrated themselves deep into the lives of their clients; who love them for it. Everything Stores are constantly uncovering new categories and verticals to work in (sometimes even inventing new categories).
Their Secret Is One Simple Question:
Their secret is one simple question: “What else can we sell them?” This is the catalyst behind their massive growth, this is the fuel that stokes the fire of their economic engine. It's the beating heart of the trust they’ve formed with their clientele over months, years, and decades.
Never Forget: We Sell Trust.
We don’t just sell products and services – we sell trust. Every price and product is a signal to a client that they can spend their trust with us and will receive even more trust back in return. Similar to financial vehicles (ex. loans, bonds, etc.) that park money and return more money – trust vehicles are the true economic drivers of your busienss.
When We Ask: “What Else?” We Create More Avenues To Build Trust.
It’s a positive feedback loop: the more we sell, the more trust we generate; the more trust we generate, the more we can sell. So long as your product delivers on the promise it makes the client, your upside trust-potential is infinite. This is how Apple became the world's first 3 trillion-dollar company.
The #1 Objection To This Method.
Everyone I’ve worked with struggles with the same hurdle: “We aren’t Amazon! We can’t just bring 14 products to market! We need to do research, testing, prototyping, marketing… etc.”
You Can Launch New Products Today:
You can launch new products today without dropping a cent into R&D. A product can be anything: it can be a repackaging (or redeployment – per Jay Abraham) of an existing product for a new audience. It can be breaking up an existing product into 3-4 different products. It can be creating a new, premium tier for an existing product. It can be a high-touch, white-glove service (ex. onboarding) that’s added to your existing product mix. The sky is the limit.
Apply This In Your Business Right Now.
Ask yourself the following questions:
- What else does my client need?
- Where are they getting it from?
- Can I provide it in a unique and exciting way?
- In what ways could I do that?
- How could I do that today?
- Repeat: How could I do that today?
- What would good/better/best/super-best/super-ultra-best versions of that product or service look like?
- Are there any existing or lapsed customers I could test this new offer on right now, as in today? (This question is rocket fuel.)