Lesson

Product Portfolio (Part 1)

In today’s lesson, we revisit the Product Portfolio Matrix and cover the following topics:

WHAT IS PORTFOLIO AND IMPORTANCE
LINK TO PRODUCT PYRAMID
HOW TO GO THROUGH TO BUILD B/P/C/S PRODUCTS
RELEVANCE AND HOW LINK TOGETHER
DEFINITIONS
HOW TO INNOVATE THE CORE
READY TO JUMP INTO 10 YEARS OF GROWTH

We will use property development as the analogy.

We discuss Brand Products (to build your brand), Short Term Equity Products, Products you can put through Channels and sell through them, and Products you can sell through ST Income.

Brand/Guru/Halo – LT Equity products

These products tell your story and show your expertise. They put a spotlight on your business (are unique). This leads to build Brand Awareness Longevity: talk about it in the future, moving to or base of fundamentals that don’t change (eg Louise Hay)

Product – Leverage – ST Equity

These are mainly Information and Education products; affiliates can sit here too as well as LT Income Sold through channels – but why do we place Product in ST equity?

It needs to be built it in a way that you can choose to sell it on or to hold it (Mindset; don’t overcapitalize – build it so it gets bought or for you to “live in and enjoy it”

Eg: renovate a house to sell / rent / live in

CHANNEL PRODUCTS – opportunity for other channels to participate in your product

SALES – ST Income so you can live and operate / sell at your core

Channels = LT Income /solid relationships, time invested in making them work, conscious of the benefits for that channel to continue to work with you, value equation both ways

Reference Channel Dial: partner, culture, data, digital, community, hero

What do each of these channels want?

EG: Communities want to connect / learn / trade

Hero – eg UN: want businesses to be part of global connective / criteria to meet

Culture – build culture as an asset; when a business grows it has resources that come in with their own energy, if there’s no guidance, their energy meshes (positive and negative) – brand purpose INTERNAL so culture can be channeled external

Sales Checklist for how you articulate the VALUE of your products: