🚢 Your Leading Ship
Apple has dozens of products for sale at any given moment, but one single product drives more than 60 percent of their total company revenue—and has done so four years in a row. That single product generates more than 200 million sales per year, which in turn leads to other revenue through accessories and software purchases on the product platform itself. That product changed modern-day culture and created a completely new category that didn’t exist before 2007: the smartphone.
When Apple Inc launched the iPhone, the company name still reflected its focus from the last 30 years: Apple Computer, Inc. They’ve since dropped Computer to become simply “Apple Inc.” because it’s the iPhone that drives business results, new initiatives, and the public perception of Apple’s brand. The iPhone is an example of a profitable Flagship Product.
One Ship Leads the Fleet
Flagship Products are a key strategy for your success as a creator, for many of the same reasons Apple Inc changed its name. That’s why Seth Godin regularly promotes AltMBA, Marie Forleo offers B-School, and Jeff Walker launches Product Launch Formula. Yes, each of those products generates the lion’s share of the revenue for these personal brand superstars—but a true Flagship Product does much more than that. A Flagship Product represents a life-changing, complete package of the transformational promise you make with your brand.
This is not a product built for people who are passively perusing. This is a product built for the group of people Stan Lee called “True Believers.” This is the product for people who are all in on your philosophy and are willing to put in the hard work (and investment) to rock their world.
What Will Your Flagship Be?
You can launch your own Flagship Product by looking at everything you teach and everything your audience is asking for, and packaging that into one big kahuna of a coaching program or online course.
If you’re still early in the game, don’t rush to create a flagship but instead introduce bite-size products to learn what resonates with your audience, and test different product concepts and types. The products that sell well—and where you see the most engagement—are where you should focus your effort. How could you take that transformation and expand it into a complete, immersive program?
Amy Porterfield did this for years, offering a dozen digital products before she combined her two most popular programs into Digital Course Academy—and generated $3.5 million in the first launch. Even if you’re not ready to identify or launch your Flagship Product yet, keep this strategy in mind. Look for patterns and audience inquiries that could become material down the road.