147. How to Build Habit-Forming Products In Your Business | Nir Eyal

The ONE Thing

NOVA Media

Business, Careers, Entrepreneurship

4.8 • 1.1K Ratings

🗓️ 2 July 2018

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

If you want to build an extraordinary business, if you really want to serve your customers at the highest level, your best bet is to build habit-forming products. We’ve struggled with this ourselves, and in our journey to learn more about creating world-class products we stumbled across a book called Hooked: How to Build Habit-Forming Products. Hooked was enlightening and the insights are helping in our own business, so we invited the author, Nir Eyal, to teach us more about what it takes to create products that truly make an impact. In this episode, you will learn... [5:00] Why making a product that people want to use isn’t enough [6:40] The four fundamental steps of creating a “hook” [13:20] The lead domino you need to know down to create habit-forming products [22:50] How you can start actually doing your most important work in a world filled with distractions [27:35] ONE thing you can do that will make it easier or unnecessary to stay focused on the things that matter most The ONE Thing to Implement From This Episode: One of our favorite things from this conversation is the idea of looking at the experience of creating a habit-forming product. There are four steps: The triggers The actions The rewards The investments What is the ONE step that you can focus on first, and prove to yourself that you can get a win? Links & Tools From This Episode Learn more at nirandfar.com Connect with Nir on Twitter: @NirEyal Hooked: How to Build Habit-Forming Products AWESOME FREE RESOURCES FOR YOU! Get more support & accountability: Join the Living Your ONE Thing Community The Kick Ass Guide To Accountability Form your first power habit with your 66 Day Challenge Calendar Check out our awesome blog! Business news is dense and dry – but it doesn’t have to be that way. Morning Brew delivers the latest business news directly to your inbox every weekday morning. Both Jay Papasan and Geoff Woods subscribe because they’re witty, conversational, and just actually enjoyable to read. And you know what the best part is? It only takes five minutes. You can sign up for free at MorningBrew.com to get started with your quick and daily dose of business news. The ONE Thing is produced by Podcast Masters Mentioned in this episode: Factor 75 Head to FactorMeals.com/one50 and use code one50 to get 50% off. That’s code one50 at FactorMeals.com/one50 to get 50% off! Factor 75

Transcript

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0:00.0	This is the One Thing podcast where we teach you the surprisingly simple truth behind extraordinary results.
0:09.0	My name is Jeff Woods. I'm the Vice President here at the One Thing team. I'm going to share a quick story with you
0:15.4	about an experience early on growing this company with Gary Keller and J Papazan,
0:20.0	and we're sharing this with you because it absolutely highlights the need of the episode today.
0:26.7	In my first 90 days we launched a course called Time Blocking Mastery.
0:30.5	It's a master course that shows you how to form power habits that stick through time blocking.
0:36.0	If you're interested in learning more about that, you can go to the one thing.com, that's the number one in the
0:40.5	URL and click on the training tab and learn more.
0:43.3	After we had launched the product, it went so well, so many people signed up, we were getting
0:47.6	amazing reviews.
0:49.2	I had a meeting with Gary and Jay to discuss the launch, and Gary said something to me that really shocked me.
0:54.8	He looked at me and suggested that the product may be broken.
0:58.7	I was so confused because we had just launched this thing.
1:01.7	So many of you signed up.
1:03.6	You guys were giving us great feedback.
1:05.5	This was a huge success in my mind.
1:07.4	And Gary said something that I'll never forget.
1:09.6	He said, you know you've created something that's world class if every person who signs up for it
1:15.6	loves it and shares it. How many people who signed up did so because of a referral?
1:21.5	The answer was zero at the time.
1:22.8	This set us down a journey to figuring out how do we create something that absolutely helps you
1:27.6	solve real problem and it does such a great job that you become a raving fan of it
	...

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