3 Tips to Declutter Your Product Offerings

Simplicity is key! The easier your product is for consumers to use and understand the more likely they will be to purchase it. Stick to your roots; knowing who you are and what you’re good at as a company can make all the difference. try to adapt your specific product to allow different application. A company can have many products that are simple to use not just one so don’t limit yourself.

Key Takeaways:

  • Applied Underwriters, a workers compensation insurance carrier and payroll company, had crafted a complex form of workers comp coverage it called a “profit-sharing” element.
  • Essentially, if a client company experienced few or no losses, it would reap savings. Conversely, if that same company saw heavy losses, its costs would soar, to a price ceiling.
  • The trouble was, all the ins and outs in the company’s policy were buried under dense legal jargon: Terms like “cession point,” “loss development” and “run-off term” befuddled clients, confusing them as to what they were getting into. The eventual result: multiple lawsuits against the company.

“The core value of a product gets diluted in the flood of flashy extras.”

https://www.entrepreneur.com/article/287695

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