FS 290: Sunsetting Products and Services
- Reuven Lerner
- Jonathan Stark
In this episode of the Freelancers’ Show, the panelists discuss sunsetting products and services and when to pull the trigger when they aren’t working. They talk about not putting too much time into a product or service that isn’t taking off, having a positive or negative ROI, opportunity cost, and many other topics. This is a great episode for freelancers who are struggling with the question of whether or not to retire certain products or services in their own business.
In particular, we dive pretty deep on:
- When to pull the plug
- Why a product or service wouldn’t be working
- Killed off Daily Tech Video
- The importance of not waiting too long to pull the plug
- Hard to make a public commitment and then give it up
- If you’re doing something and you’re not making money, it’s a hobby not a business
- Is your ROI positive or negative?
- Opportunity cost
- Have clear goals and objectives for products and services
- Sunset if they aren’t selling well
- Getting rid of Road Mapping
- Finding a better way to produce these products and services
- Experimentation is key
- Will it make money that is fast enough for your business?
- Is it worth your time and effort?
- Mandarin Weekly
- And much, much more!