Service Expansion Lab - Wednesday 26th March 2025

Service Expansion Lab

This course is designed for self-employed consultants, coaches, and wellness solopreneurs looking to diversify their income streams by creating and selling products that leverage their expertise. Over four collaborative and interactive sessions, participants will learn how to identify opportunities for productisation, validate their ideas in the market, create a balanced service and product mix, and effectively price and market their new offerings.

26th March: 9.30am - 12.30pm (In-person)

2nd April: 9.30am - 12.30pm (Online)

23rd April 9.30am - 12.30pm (Online)

30th April 9.30am - 12.30pm (In-person)

Session 1: Ideation & Opportunity Identification

Objective: Identify viable product ideas that align with your expertise and client needs.

• Understanding Productisation: What it means to turn your knowledge into scalable products (e.g., online courses, e-books, templates, membership programs).
• Brainstorming Session: Guided exercises to identify your core strengths and areas of expertise that could be turned into products.
• Types of Products: Explore different product models like digital downloads, workshops, subscription models, and more.
• Assignment: Create a list of 5 potential product ideas and select 2 to focus on for further research and validation.

Session 2: Market Research & Validation

Objective: Test your product ideas against market demand to ensure they have potential.

• Research Techniques: How to use surveys, interviews, and online communities to gauge interest in your product ideas.
• Competitor Analysis: How to assess what similar products exist, their strengths and weaknesses, and where your unique edge lies.
• MVP (Minimum Viable Product) Approach: Learn how to create a simple version of your product to test with your audience.
• Assignment: Develop a brief survey or interview script and collect feedback on your top product idea.

Session 3: Pricing & Profitability

Objective: Learn to price your products effectively and integrate them into your service offerings.

• Costing & Pricing Models: Understand different pricing strategies, including value-based pricing, and how to determine your product's worth.
• Profit Margin Calculation: Learn how to calculate costs, margins, and potential profits for digital products.
• Service-Product Balance: Explore how to balance your time between one-on-one services and product-based income to achieve a sustainable mix.
• Assignment: Develop a pricing plan for your product and map out a potential revenue stream using a simple financial projection template.

Session 4: Marketing & Launch Strategy

Objective: Create a marketing plan to launch your product alongside your existing services.

• Building a Launch Plan: Key steps to a successful product launch, including pre-launch strategies, the launch event, and post-launch follow-up to maintain momentum.
• Leveraging Existing Clients: How to introduce new products to your current client base, upsell, and create exclusive offers or bundles. Utilize word-of-mouth marketing and encourage clients to share their experiences.
• Online Marketing Tactics: Overview of social media, email marketing, and content strategies to promote your product. Includes tips for creating effective ad campaigns and crafting email sequences that drive sales.This session helps participants integrate their new products into their overall marketing efforts for a cohesive and effective launch.
• Assignment: Create an integrated marketing plan