Your business can make a hundred different products and still generate a meager number of sales. And there can be a variety of reasons why. But an important facet that you should consider when creating and marketing your product is this: what problem does it solve? Truly successful products give customers a solution to a glaring problem that your competitors haven’t figured out how to solve thus far. Take the invention of insulated water bottles, for example. For workers, these bottles keep their coffee warm on cold days. For hikers, it keeps their water cold throughout their entire trek.
But the measure of true success with insulated water bottles is the fact that many refer to them as a thermos. Would you be surprised to know that the term didn’t exist until the company, Thermos, came out with these insulated water bottles in 1904? It didn’t happen on purpose, but Thermos became synonymous with an insulated water bottle. Now, Thermos makes plenty of other products, namely other types of drinkware as well as food storage containers. But Thermos will forever be known for how they revolutionized the drinkware industry. So, if you want to be truly successful with your business, think about what kind of problem your products and services will solve for the customer. If you do, you might find yourself standing alongside successful brands like Thermos.
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