How would you feel if I told you it was possible to quadruple your product sales in the next year?
Would that excite you? Or would that scare you…?
My client Natalia Michael, founder of No Nasties, has done just that, and is on track for continued exponential growth.
Here’s what it actually takes to scale a product business that fast:
Create an amazing product (that customers want to buy)
Surely this goes without saying…?
Too often, I come across brands that are struggling to gain traction with significant sales growth, and the problem isn’t effort or marketing strategy.
It’s that there isn’t enough demand for the product they’re selling.
It’s not enough to want the product for yourself. And don’t just ask your friends and family if they like your product – they’re biased and will always tell you ‘yes’. (Instead – ask them if they would like to buy your product right now and see if they’re willing to pay for it…)
Natalia did create a range of products that she wanted to use for herself and her family – I mean, we all want to enjoy what we do and sell, right?
But, she was also very smart about choosing her market. She researched the size of the market, locally and globally, to make sure the demand was there to support the big revenue goals she had set for herself.
TIP: Look for existing brands in your product category before you launch. You want to ensure there’s enough demand for your product, without it being over-crowded with too many offerings.
This is a tough one for many entrepreneurs, especially (it seems) for women.
Aiming for a really big revenue goal, or to expand globally, can be really scary!
For many, big goals trigger concerns like, ‘will I still have the time to spend with my kids?’ or ‘do I have enough money to fund that growth’ or ‘I’m not sure I can lead a team of staff’. I’m sure there are others, and these are all negative thoughts that I’ve had to work through myself as well.
But here’s the weird thing…
When you have a small business, you may feel like it’s more manageable and you can control things better yourself. Or you may feel like keeping things small means you can be more flexible with your time.
But what happens is, your sales income is directly tied to your own effort.
If you’re not hustling hard, then the sales dry up.
And for most of us, inconsistent or low sales is incredibly stressful. It can make you question whether it’s worth working so damn hard on your business in the first place…
Natalia has had no qualms about owning her big ambitions for No Nasties. Quadrupling her product sales this year is just the start! She has a huge revenue target in mind and has always intended on expanding globally.
And here’s the thing – when you aim big, you are forced to show up in your business differently.
You make different decisions when you’re working towards a bigger goal.
For instance, do you trademark or not? Yes, you do when you’re aiming big.
Do you invest time and resources creating new product lines? Yes, you do when you’re aiming big.
Do you invest in growing a team? Yes, you do when you’re aiming big.
Do you focus on chasing the bigger wholesale clients? Yes, you do when you’re aiming big.
You don’t do any of that when you’re aiming small.
TIP: Start by thinking of your end-goal. Then, think about what you need to have done in 5 years time to be on track to achieve that end-goal?
What do you need to have done in 12 months to be on track? What do you need to have done in 3 months to be on track? And what do you need to do this month, this week, and today?
Become the #1 go-to brand in your niche
As a new brand entering today’s crowded and cutthroat market, it can be hard to be found.
Only yesterday, a client of mine told me she can easily sell her products to passers-by at markets. But online? No one is even finding her brand.
If you’re struggling to get traffic or sales, then maybe it’s time to focus on building a brand.
Because to succeed, you MUST stand out from your competition!
Like many product start-ups, Natalia focused on Instagram as her marketing platform of choice.
But initially, she struggled to gain traction, despite posting daily and sending samples to Influencers.
It wasn’t until she really focused on cultivating her brand that her engagement and reach started to accelerate.
TIP: Work with a professional photographer to produce beautiful and consistently styled images. Then, use these images across all your marketing platforms (website, social media, email, in-store).
If you want to grow your sales, focus on sales
Generating significant sales growth doesn’t happen by accident.
If you want to quadruple your product sales this year, then you MUST focus on sales!
Don’t make excuses for why you’re not focusing on sales-generating activities.
Yes, the kids and the house need your attention.
Yes, you need to pack orders daily and answer customer emails and messages.
But, are they the #1 most important tasks you need to do each day?
Or, like many of us, are you allowing yourself to be ‘busy’ with a lot of ‘stuff’, rather than being focused and productive?
Natalia is a gun saleswoman, there’s no doubt about that. She doesn’t shy away from the word ‘sales’ as though it’s some nasty, slimy thing. (It’s really not.)
What I’ve always admired about Natalia, is that she consistently focuses on creating and pursuing sales opportunities. And she does this in such an authentic manner, by approaching the right retail stores, building relationships and cultivating a highly engaged community.
TIP: Whether you are selling eCommerce or wholesale, always make sure you have a strategy in place to attract NEW potential customers AND to generate repeat purchases. This is your #1 activity in business – everything else you do supports this task.
Pay for expertise to fill your knowledge gaps
When I started my first business, I so desperately wanted someone to tell me what to do. But back then, there weren’t the same resources there are now in terms of relevant business education for product inventors.
There wasn’t even a go-to place to source manufacturers, and no-one could tell me how to do things like pricing, or approaching retail stores.
I hate having to wing it or do things by trial and error, but I had no choice.
And let me tell you – this is the slooooooowwww way to grow!
Natalia’s big goals motivated and empowered her to seek out help in areas she lacked knowledge or experience.
Because she’s such a go-getter, she implemented the advice she got – I have never seen someone get shit done as fast as she did!
And by implementing good quality advice fast, she experienced results faster as well.
TIP: If there are areas of your business you’re unsure about, or you don’t know what to focus on in order to achieve your goals, then seek out expert advice.
You will always achieve more when you stand on the shoulders of giants.
Are you super-excited to see results like this with your own brand?
Or looking to grow to multiple 6 or 7 figures?
Get there faster by having an experienced Productpreneur as your mentor!
Click here to find out about working with us.