Could the creation of a product be key to reducing your dependence on your service business?

A business advisor once suggested that our business needed to create a PRODUCT in order to become more sustainable. This was an alien idea to us at the time – our business model was based on the supply of bespoke marketing consultancy and design services. We took the suggestion on board however and thought about how we could use existing skills to create something tangible. 

It’s not unusual for consultants to enter publishing of course, with books, periodicals and dissertations providing an income stream. The most obvious idea therefore became our first product – a magazine entitled Business Solutions. It was a showcase for our core business and a really enjoyable exercise. For over 4 years it was both a marketing tool and an income generator in its own right. 

Publishing a profitable magazine is hard work and Business Solutions depended on the continued input of us as the business owners. The publishing industry was also undergoing a digital revolution in 2005-6 when we reluctantly decided to change direction. We wanted a product that could stand on its own feet – a product that had the potential for generating, if not a passive income, repeat orders without constant reinvention.

The story of our chocolate brand, Beyond Dark, developed from this requirement. http://www.beyonddark.co.uk

You might like to explore the potential for your business to develop a product. Call me for a free initial discussion on 07801251767 or email elainenester@adm-group.co.uk

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