A Good Small Business Product Optimizes These 9 Economic Values That People Typically Consider When Making Purchase Decisions

Think about it, we all want things quickly, we want them to be easy to use, we want them to look good, and so on. With or without thinking about it, we all consider 9 things whenever we are making a purchase. If you can master optimizing these 9 things in your product, you will be on your way to having an irresistible product.

What are those 9 things?

1. Speed. How fast a product does it's job. The faster it does the job, the better, because we are all short of time and attention span.

2. Efficacy. How well it does that job. The more efficient it is, the better, because we all wish to avoid pain, discomfort and hustle.

3. Usability. How easy it is to use. The easier to use, the better, because we all wish to avoid pain, discomfort and hustle.

4. Reliability. How dependable it is. The more reliable the better, because we hate losing money and we all wish to avoid pain, discomfort and hustle.

5. Emotion. How it makes you feel. The more emotions it arouses, the better, because we all are driven to feel something.

6. Status. How it makes you appear to others. The higher it elevates us in status, the better, because we all wish to be regarded highly by others.

7. Aesthetics. How beautiful it is. The better looking, the better. This one is tricky because beauty is in the eye of the beholder. It depends on many factors, but the better it looks, the more it will be desired.

8. Flexibility and adaptability. How many things it does. The Swiss Army Knife because famous for being a knife that did many things. So did the iPhone. The more things your product does, within a reasonable scope, the better.

9. Cost. What and how much you have to give up to get it. This is very much a function of perceived value. The more it appears that the price is much less than the value one gets back, the better.

The list is simple, as you can see. Now, have a critical look at your product, with the help of your most valuable customers' opinion. Ask yourself how you can make your product increasingly faster, more efficient, easier to use, more reliable, emotionally relevant, a status symbol, better looking, more flexible and adaptable, and of a higher perceived value so you can charge as much as possible without looking expensive.