A product solves a customer's problem or delivers pleasure without the creator's involvement, unlike services or education. Examples include iPads, clothing, and furniture. The speaker warns that poor quality destroys the business, and previews software products next.
Chapters
Hey, my friend. Hey, man. I'm so happy you are here because, man, it's rolling, right? So we talk about— we are talking about how to develop, how to package. We are talking about methodology to answer different problems. Now we talk about education, we talk about service. Now we'll talk about product. That is very, very popular. This is very, very popular. Um, so when we talk about product, most of the time people develop product that they can send to us And that product will actually remove pain or give us pleasure, right? Think about maybe my iPad, for example. That is a product. And what is the pain out of this? Without an iPad, I'm frustrated. I can't have a mobile office. I can't connect where I am. I can't do my work properly. But Apple actually developed that product So to make my life better, to remove frustration, to give me a mobile office, to actually enable me to do whatever I want to do when I want to do easily and even connect with people. So Apple is not actually there every day to help me, but they send this product that stays with me. Wherever I go, the product is helping me. It has been programmed to help me, right? So maybe an iPad is a product. What else? Maybe a computer is a product. Cell phone. What else? This clothes. It's a product because the person who actually make the clothes is not there every day with me. They send me the clothes, they make the clothes for me so I can cover myself with and look good with it, and that's it. They give me the money, I gave them the money, and they gave me the clothes. Since then, I have these clothes. I keep it. So the product keeps helping me, keeps solving my problem all the time, right? What else? What else could you develop as a product? Hair extension or weave, right? You go to the store and buy it. Every morning you put on your hair and fix it and put it back until you trash it when it stops serving you. So the hair extension. What else? It's a product. Your car, when you go and purchase a car, you actually purchase a product. So the car will continue to serve you. Product, your car. What are some of the small products that you can purchase and, and, and use it? I mean, if you walk in a grocery store, most of the time everything is a product. Maybe an oil, For your skin, the watch. I mean, the day I purchased this watch, I still have it. It's serving me. It's a product. This watch is not educating me. This watch is not giving me any service. It's not like somebody came and give me a time and then they left. No, the watch is answering continually. So product, right? Maybe a pot that you cook with. Product. Think about it. Shoes, product. Shoes. I mean, we can go on and on and on and on and on. I mean, the list, I mean, man. Just in your house, the table, the beds, the mattress, I mean, they're all product. Your clothes, everything that you actually pay for once and then keep using it over and over and over, and the owner or the, the maker actually don't have to be there to do it, it fall under product. So as a businessman, you have to make sure you understand where— whatever you are developing, whatever— if it's a product or if it's a service or if it's a education. Sometimes you ask people, what industry are you in? They're like, oh no, I do this. No, what industry? It helps to catch, you know, is it a service industry? Is it educational industry? Is it a product industry? I mean, you create things that can actually help people long run. So it falls under this 3. Now ask yourself, what product, what product, what is your product? How do you use your product to actually help people? Because we pay because we want to avoid pain and get pleasure. The product must answer this question, the question of pain. So you have to ask yourself, what problem am I solving with my product? Or what pleasure people are getting by purchasing my product. So this product that I'm making, you have to have this in mind. Okay, what am I giving? What exactly am I giving to people? It's going to help you to develop your customer service because you know what problem you are solving with your product. Let me use an example. Let's say you sell a hair extension. And then it's a really, really bad quality and you want to charge so much for it. People are buying product, that hair extension, because they want that hair extension to stay and help them over and over and over and over. That's why they pay for the product. Let's say they can wear once and then it's not good anymore. They're not going to come back and buy again. Or think about shirt. Let's say you are solving the problem of nakedness or all that with a shirt. When they wash once, it becomes like baby clothes. Guess what? You'll be out of business. Bad product. Bad product. So you always want to ask yourself, am I really solving that problem? With my product before you make the product. Don't just make it for money. Don't just make it to make it. Make sure that I can answer this. All right, so tomorrow we'll talk about the last thing and we will talk about software. All right, see you tomorrow.
