Welcome to "Small Business Conversations," the podcast that helps entrepreneurs and business owners achieve success by providing practical advice and inspiring stories. In this episode, Dr. Michael Troyer and Anna Steinfest explore the concept of "less is more" when it comes to designing products and services. They offer three good reasons why simplifying your offerings can be a game-changer for your business.
First, customers often become annoyed when paying for features they don't need or use. By reducing or simplifying the design and number of features in your product or service, you can offer it at a lower price or make it easier to use. This can help you solve a problem or complete a job for your customers more efficiently.
Second, complex products or services can lower the efficiency with which your customers can use them. By evaluating your offerings and simplifying them for customers who are looking for efficiency, you can make it easier for them to get value out of using your products or services.
Finally, products or services that take too long to learn to use can add hidden costs to your business. The time it takes for customers to understand how to use your product or service is part of its price. By reducing its complexity, bloat of features, or the time it takes to learn to use it, you can make your offerings more attractive to customers.
Don't miss this insightful episode that will help you rethink the design of your products or services and stay ahead of the competition. Tune in to "Small Business Cinversations" now!