THE ONE PRODUCT STRATEGY
The one product strategy: power of one product
INTRODUCTION TO THE ONE PRODUCT STRATEGY
Do you know that the one product strategy is what your business needs now for it to do massively?
Are you aware that the more you specialize on the one product strategy, the better your business becomes?
Also, do you know that with the one product strategy your business will expand?
What actually is the one product strategy?
How can I start the one product strategy?
How profitable is the one product strategy?
What is the reason or idea behind the one product strategy?
Is this the one product strategy really worth it for my business?
What steps will I take to key into the one product strategy?
All these and many more queries are well explained in this possibly 3000 + words article; the one product strategy
It’s no longer a new story that there are lots of business organizations in the world today with lots of products produced by them.
These businesses and tends to increase amidst the rapid fall of new businesses every year.
See proof here (50 small business facts)
One of the major reasons why a lot of business and lots of entrepreneurs fail today is as a result of their Strategy in handling their business.
Businesses are collapsing every year while new businesses are also rising every year.
Small businesses now find it difficult to grow as a result of dominance by the big companies.
Is their any remedy for business fall?
Yes, there is.
Have you ever thought or heard of the one product strategy?
Or have you been searching for the meaning of one product strategy, what is one product strategy, the power of one product strategy and similar related searches.
Worry no more as we will bring you answers to all these searches in this single article; the one product strategy.
The one product strategy is a great tool and strategy to grow and expand in your business.
Lots of reasons why you should key into the one product strategy now
WHAT IS ONE PRODUCT STRATEGY?
The one product strategy simply has to do with the concentration or specialization of selling or business on a particular product or product range.
In blogging, the one product strategy is simply the concentration or specialization on a particular sub niche. In order words, it means niching down.
The one product strategy is a profitable business ideaology whereby you an entrepreneur or a firm focus it’s resources more in the production or distribution of a particular product / product range or service.
This will help make such entrepreneur or firm to stand out among other competitors.
Also read: Tips to become a better writer
Now, the one product strategy is a very profitable business ideaology in as much as it helps you to drive more sales into your business and it helps you to get to a larger audience as you specialize on a brand
Details will be further explained as it is being break down in this article for your proper understanding.
Hence, know that the one product strategy is a strategy or technique of specializing in a particular product or range rather than being into multiple products.
It also has to do with focusing on the production, sales, distribution of a particular product, commodity, skill or service.
Also read; How to make million dollars
THE ONE PRODUCT STRATEGY
KNOWING THE STRATEGY
Having gotten, the introduction and having known what the one product and one product strategy entails, you can read further to get the important things you need to know about the one product strategy and switching into the one product strategy.
I believe that everyone of us should have that one vital product as long as you are an entrepreneur.
That one product or service that you are able to sell and render a lot of it.
It’s so sad to note that a lot of persons do not know how powerful the one product strategy can be or is.
There are people who have spent the last few years only selling one product using this one product strategy.
They either create the product, or buy it, and spend all their energy and focus selling it massively with the one product strategy.
Also read; Backgrounder
EXAMPLE OF THE ONE PRODUCT STRATEGY
Live example by Toyin Omotosho
You might have heard of Toyin Omotosho, a popular internet marketer. He is famous as a result of keying into the one product strategy.
Mr. Toyin Omotosho, the famous internet marketer in the world today has spent his past few years selling one core product he called the 72IG.
Yes that’s his own one product. He specialises on the sale of just that one product and none else.
It might sound surprising to you on hearing that just that one product alone has brought him billions.
That is the power of one product strategy.
Rather than selling lots of products to make money from different angles, he rather specialize on that product, promote it as much as he can and he has expanded his brand.
Now, when ever anyone needs that product, such a person is usually referred to him or his course, the 72IG.
Live example by Lady Ashley
Another another example of a person who is utilizing the one product strategy is Lady Ashley.
She is the popular lady who made $3m in one day, spends all her page and time marketing that one core product.
Yes, $3 million U.S dollars was made in a day by her with the one product strategy.
She simply applied the one product strategy and specialized in that particular product and that gave her such amount of money.
Especially with her strategic writing pattern
IDEA BEHIND THE STRATEGY
The idea behind the one product strategy is simply specialization for maximum returns.
The whole idea behind chanelling energy to one core product is that it makes you very good in the game and gives you the power of focus.
It also helps you to move to outstanding success.
WHO IS THIS STRATEGY GOOD FOR?
The one-product strategy is good for everyone who is into business of any kind or any form.
This is especially good for someone who falls into any of these areas or criteria which of course every business owner or entrepreneur must fall into:
1. Needs a daily income source: The one product strategy is good for anyone who needs a daily income source.
This is because, having the focus on a particular product will give you a wide range of understanding and skill in that product and that will make people who need such product to always locate you.
Hence, giving you daily source of income.
2. Isn’t great at sales and marketing: The one product strategy is also good for people or someone who isn’t great at sales and marketing.
This is made possible as you do not need much advert or skills to operate a business with the one product strategy.
But you will scale high.
3. Easily gets distracted: Do you want something core to focus your energy on?
Then focus it on the one product strategy. If you are the type that easily gets distracted, the one core product will help you to get focused.
It will save you the stress of running in a hectic manner like having a hectic day.
You will just be focused on your product and in promoting it.
4. Struggling financially: Yes, the one product strategy is good for people or someone who is struggling financially.
If you are still struggling financially, that means you need to focus on the one product strategy because you need a stable constant source of income.
And the one product strategy will give you financial freedom.
You are guaranteed massive sales.
What are examples of one product?
Examples of one product strategy
A product can be in any form.
Yes, anything you are into, you can specialize in a particular aspect of it.
Your one-product can be a physical product or a service, delivered in whatever form. It can be physically or electronically.
So in any form of business you are into, you need this one product strategy.
Don’t be the jack of all trades and master of none.
Focus your resources and skills on a particular product and watch your industry grow massively.
If you render services, don’t just render all kinds of services you think are in high demand.
Look for the one you can be the best in it, train yourself very well and specialize on rendering that particular Service using the one product strategy.
STRATEGIC POINTS TO NOTE
Points to note when choosing your one product and the one product strategy
It is adviced that you should specialize on a particular product or that you should move into the one product strategy.
But however, there are some key points you need to take note of before switching into the one product strategy.
This will help you prevent falls and errors.
Below are some points to note in choosing your one-product and the one product strategy:
1. Choose something that has a decent profit margin: There are lots of products out there but not all can give you your desired income.
Hence, the need for you to choose something that has a decent profit margin.
Choose a product or service that you know is in very high demand or that has not much specialists in it and it can bring a great return in profit.
This simply tells you to go for the profitable niche, product or service. One that you are well qualified for and you can be an expert in.
2. Choose something that has a large target market and market demand: That is a product or service that appeals to many people.
Don not just rush into a particular product because you heard of the one product strategy, but follow the one product strategy fully.
Go for a product that or service that targets a large market and is being demanded and appeals to many people.
With this, you will Excel in your one product and in the one product strategy.
3. Choose something that is capable of being sold everyday: This is yet another important point to note while going for your one product or the one product strategy.
Go for the product or service that is capable of being sold everyday.
The one you know that people seek for everyday.
Not all products are worth specializing in, but if you meet follow this guidelines very well, you will be glad you did.
4. Choose something that has a price point that many people can afford: Yes, the last on the list but not the least important.
While following the one product strategy and going for your one product, choose that thing that is affordable by many people.
Go for something that has a price point that many people can afford.
This will help you to attain the results of the one product strategy.
Don’t always aim for the most costly products believing that they have the higher returns.
Business is far from that thought.
In fact, many entrepreneurs say that the low price or cheap products often give them higher profits that costly ones.
Call To Action
The call is coming to all entrepreneurs in the world to key into the one product strategy.
Everyone needs that one core product to specialize in, following the one product strategy.
However, you are not being asked to shut down your entire business that sells 100 to 1000 products.
You are rather being asked or told to channel some energy into one core product and become the king at it.
Still, you can sell your other products but focus your resources on that particular product.
You sell fabrics, Consider if your core product is lycra fabrics.
Do you sell drugs?
Your core one-product could be serving hypertensive patients.
Maybe you sew dresses. what if your core one product is making stay-at-home smart outfits for women or for kids? A very good one
Or maybe you are in the hospitality space, what if your core one-product is helping people open business conversations in Dubai or UK?
Perhaps, you are a lawyer, you offer legal services, what if your core one-product is being an expert in reviewing contracts for businesses before they sign off.
This will make you stand out in that field of specialization even when there are others doing it.
Take for example that of the lawyer specializing in reviewing the business contracts.
You can still be called upon for all legal jobs in your business line but when it comes to this particular aspect, People will have no other alternative but you.
This is because, you have made that your one product using the one product strategy.
Having a one-core-product uplifts you as it gives you a title and a crown.
Let me ask, have you not heard people say things like – This lawyer handles everything CAC for companies?
That’s a good recommendation because of his specialization as a result of the one product strategy.
We shall end this article on the one product strategy by sharing some examples of people who have made great successes of one-core-product.
1. The artist who only draws your face on Tshirts and charges 20k for each.
Imagine that, yet she has no less than 2 orders daily.
2. What about the tailor who makes the most beautiful jumpsuits that fit women whether plus-size.
She makes daily sales
3. The woman who sells only infants wears. You can imagine that anyone who needs any kind of infant wear can easily get it from her.
And they will easily go to her.
4. The man who repairs only the Dell computers. You can imagine that anyone who uses the Dell computer products will always go to him for repairs even though he can still repair other products.
Other computer products can be coming to him for repairs but when if comes to Dell brand, he is the first recommendation.
We could go on and on mentioning, but let’s stop here.
You have the call to go and get your one core product.
Focus energy, become an expert and make good money from it.
It doesn’t stop all other things you are doing but only adds greatly to them.
Someone recently shared an image of how she made over 900k (nine hundred thousand) from one product in 10 days.
Yes, just one product and the product sells for just 3000 each
And that’s just a start up of someone doing the marketing alone, having no registered company or organization yet.
Yes to you, your one-core-product can be that powerful and even more powerful.
That person can even decide to just stay a quiet life living on her one core product and just pushing it and improving it to get more sales.
Now, the call and instruction comes to you. Please go and work on your one-core-product.
Follow the one product strategy and watch your business grow and expand.
FREQUENTLY ASKED QUESTIONS
The below Frequently Asked Questions have been answered in the article.
All these questions and many more have been answered.
What is one product?
What is the meaning of the one product strategy?
How can I start the one product strategy?
How profitable is the one product strategy?
Very profitable as explained in the article
Is the one product strategy good?
Yes, 100% and it is a very good recommendation for business success in 2022.
What is the best guide for business success in 2022?
The best guide or best recommendation for business success in 2022 is focusing on the one product strategy
Is the one product strategy worth it?
Absolutely yes,it does.
All these questions and many more have well been answered in this article.
Meaning of the one product strategy
Importance of one product
Specialization in business
Division of labour in business
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Written and modified by the Legit Ideas with some credit to: Chioma Ifeanyi Eze, Legit Ideas Facebook page, Ihedike Favour.
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