Stacy Tuschl is a speaker, business coach, and the owner of The Academy of Performing Arts in Wisconsin. She is the author of the book “Is Your Business Worth Saving?” where she reveals proven strategies for pulling entrepreneurs out of a rut and launching them toward business success. I'm heading out to James Wedmore's Mastermind this week, so I'm really excited, as this is always something that I really look forward to. I go on a trip like this every ninety days and it really helps me to sit back and take in the big picture. This particular Mastermind has helped me to have a truly big breakthrough and so, next week I will be talking about my own Mastermind that I will be hosting, along with a few other female entrepreneurs, next year. I will also be talking about product development, or your product suite next week and I'm really going to dive in deep, so make sure to listen in. Today, we're talking about assessing your product and really making sure that it is something that you should be putting out there and that it really is something that people are actually going to want. Listen in, as I'm going to explain five things to you now, that you really need to know before you create your product, to make sure that you create it the right way. Show highlights: “So, first of all, it is stay in your lane.” From minute 2:10, Stacy explains what she means, when she talks about staying in your lane. If there's something that you're really good at, there's really no reason not to be doing it online. “Number two- Speak to the old you.” From minute 3:31, Stacy explains that we often forget how incredibly smart we are, in what we are doing and she reminds you that you were not always that way. You also struggled to learn these tips, tools and strategies and what is very normal and natural for you right now, was not so a few years ago. You need to take a step back and break it down until it's really super, super simple. Make sure that you're not teaching over people's heads. “Now, number three, clarify the end result.” from minute 4:42, Stacy explains that any time that you sell something, there has to be a problem- and then you have the solution for it. You need to be crystal clear about what you're actually promising to people. You need to be clear about the features and characteristics of what you're offering and what people's lives are going to feel like when they complete your program. “Now, number four is running a Beta Test.” From minute 5:34, Stacy explains what you can do, before you actually launch to the public. You can go to people who may want to buy it at a cheaper price point, or for some other bonus perks, to help you to create your product from scratch. This will be incredibly valuable for you to get to know what you really need before you launch your product to everybody. Stacy explains that people really need to pay for these Beta Tests, otherwise they will not be fully committed- even if it's a really nominal amount. “So number five, refine and optimize.” From minute 8:25, Stacy explains that this is really important. Entrepreneurs often get excited and just want to move on to the next thing, but refining and optimizing what you have already done will help you to get better results. If you have even just one person buy your product, you know that it will convert and you just need more visibility or eyes on your product and you can continue to scale whatever you are doing. Stick with what's already working and continue to tweak. Go to bit.ly/aceframework to get Stacy's free Ace Framework, which is all about gathering leads on social media and turning them into customers.