Do you ever get stuck on the kinds of products you should be producing for your marketplace?
Perhaps you know what it is they’re looking for but are unsure how to package it?
Maybe the issue is you have a million ideas but aren’t sure which ones will fly so you never do anything for fear of making the wrong choice!
Or are you worried the competition is too fierce and why would anyone want your little product?
Whatever your situation, doing nothing is not an option or you’d never move forward.
Imagine Ray Crocker not taking a punt because he thought just maybe the public wouldn’t like the McDonald brothers burgers? Or Steve Jobs not convincing Steve Wozniak to create Apple with him because he thought maybe the idea of desktop computers wouldn’t fly!
Let’s bring that home a little shall we, imagine something that’s been positively life changing for you. Go on, do it now. Close your eyes just for a second and think of something that has created a major change in your life for the better. Now imagine what might have happened if you hadn’t taken the risk involved to make that happen.
See, the only thing getting in your way of imminent success is YOU! Get out of your own way!!! :)
So, now you’ve decided you’re going to procrastinate no more and get on with creating that valuable product your marketplace is waiting for, let’s have a look at some creative ideas to inspire you!
First let’s just have a quick refresh of the types of products we could produce:
- Ebook / PDF / Book
- Video Course
- Audio Course
- Live Webinar Course
- Email Course
- Membership Site
- Group Coaching
- One to One Coaching
- A Mixture of all of the above! (Go on, I dare you!)
Now let’s get some inspiration!
1. Other People’s Ebooks.
The reason I wanted to start here is because the first two products I created came from this. Back in July 2010 I recorded 3 videos and called it The 10 Minute Website. It was based on a report written by my good friend Daniel Wagner teaching people how to use aweber to create flashy optin forms and then leave them hosted on the aweber platform, so you could begin to build your list without needing a domain, hosting or a website etc.
Basically I turned his report into a video course and sold it for $7. I made 4 sales! (Promotion was a total mystery to me back then!)
My second product I sold 1100 copies and generated over $30,000. That was called 2000 Fans in 27 Days. It was a Day by Day Video course and was inspired by an ebook I had read called 3000 fans in 30 days!
See I wasn’t even original! To be fair I created my own content, but based it on the idea of the ebook. It was hugely popular and a resounding success!
Action – Go through your computer, blow off all the dust from ebooks you have signed up for and find your inspiration for a great product!
And don’t worry about plagiarism, use it as inspiration not to copy word for word.
2. Other People’s Webinars.
In the same theme as above, how many webinars have you attended lately? Been to any that seemed insanely popular? If so, there’s a good indication the subject matter is of great interest to the audience.
What points can you take from the webinar that you could turn into a product? Perhaps, you can use the title of the webinar as inspiration for your masterpiece!
Action – Stop being skeptical and simply looking at webinars as a sales pitch. Attend with the objective in your mind of grabbing some inspiration for your next product. The market research is happening right in front of your eyes!
3. What have you done lately to solve a particularly challenging problem you’ve been having?
If you’ve had an issue it’s likely others are having it aswell. Aren’t they also looking for a solution?
The beauty in this, is that you can show the steps you took to create the solution. That is a hugely powerful way to produce a product, based on actual proof of something working and achieving the desired result.
Action – Brainstorm all the things you have learned recently to improve your business / life. Which one do you think would most resonate with the people around you? How could you turn that into a product?
Social Media is like a modern version of a forum. If you’re someone who likes to wile away the hours chatting on FB or DM’ing on Twitter, why not turn those hours into something useful and make a list of repetitive questions you see coming from people who are in similar niches to you.
Go through your competitor pages and look at the comments to see what people are asking? What’s keeping them awake at night?
If you can answer their questions in a detailed, easy to follow way and help them to achieve a resolution, you may have the makings of a product in your hands!
Action – Be more observant. Think like a marketer, not a student. How can you help others? How can you solve problems with products?
5. Dust off Your BSO’s!
Have you ever invested in a particularly expensive course that really helped you in your journey? Would it be possible for you to create a mini version, perhaps taking one element of the course that you could expand upon and create a small product?
Perhaps the course had a done for you element which you could break down into a ‘How you Create’ course.
Or perhaps the course had a ‘How to’ which you could turn into a ‘Done for you’!
Action – Have a look at the courses laying dormant on your desktop and see how maybe you could turn parts of the course into your own product. Please note I am not advocating word for word copying or reproduction of the same material here. You should only ever create something you have tested and tried. If it worked for you, record the bits that worked and what you did to make them work.
6. Product Launches.
Following on from point 5, I had a great deal of success earlier this year when I sold my low priced membership site on the back of a very high priced product launch. Sometimes there are some fantastic product launches and the content looks amazing but the price tag is just too high for your market.
You need to jump on that. Think of the many people that just wish they could get their hands on that course but simply can’t afford it, How can you serve them? How can you create a smaller or different version of what’s being offered that will effect similar results?
Action – Think creatively! Look at forthcoming product launches. What do you know about the subject that you could create and offer as the product launch closes. The product launch just did all the educating, hype and marketing for you. All you need to do is say – hey, I have something similar at a fraction of the price. It’s a ready made market place!
7. PLR / White Labelling.
This is probably one of the fastest ways to get a product off the ground. Find something that already exists and add your own bells and whistles. Please note be careful when using PLR as some of the stuff out there is utter rubbish, but it’s fantastic for inspiration!
White labelling is my new secret weapon. Someone else has created the product (normally software), they have the support, the technicians, they deal with updates etc. All you have to do is package and promote it. Nice!
Action – Create a google alert for white label products in your niche and sign up to some PLR sites. Also keep a look out for what people are selling / releasing in your industry. It might be that the product owner hasn’t considered white labelling as an option and may welcome an approach from you!
I love looking at the lists of bonuses on the bottom of sales pages. What are people adding to products that they believe will make my purchase more valuable? How can I turn one of those bonuses into a bonafide saleable and profitable product?
Action – Next time you make a purchase, check out the bonuses. What could you turn into a product for your audience?
This is an oldie but a goodie. Head over to Amazon.com, type in your niche / keyword and look up all the book titles. Oh my goodness, there is a never ending stream of ideas in there! Click to have a look inside the book and check out the contents. Sometimes you could come up with a complete product idea just from one chapter title!
Action – Don’t do point 9! You’ll just end up with so many ideas your brain will explode! ;)
10. Super Popular Blog Posts.
Head over to www.buzzsumo.com and type in your keywords. Look at the top 5 or 6 blog posts. I’m pretty sure you’ll get a good idea or two from there, not just for products, but also for content, blog posts, videos, podcasts and all sorts!
Action – Go and have a play with www.buzzsumo.com. Lots of good info on there – (don’t spend hours reading posts though, you have products to create!)
Summary & Action
The key to becoming a profitable product creator is to spot all the marketing opportunities around you and then take FAST action. Stop trying to come up with that one idea that’s going to make you a million and take inspiration from whats working all around you right now!
Learning how to create quality products fast is a skill, but anyone can do it with the right training and a little bit of practice.
Here’s a great FREE ebook to get you started – From Zero to Done in 2 Hours was written by a friend of mine who I consider to be the master of product creation, having created over 500 products and generated over $10 million in sales over the last 4 years online.
I hope this post has helped! Here’s what I want you to do now…
1. Download From Zero to Done in 2 Hours
2. Give it a try, set aside 2 hours and try creating a small product
3. Get out there and sell it, even if only for $1! If you can make a dollar you can make hundreds & thousands of them!
4. Ask me any questions relating to product creation or your business in the comments below. I’m here to help!
I can’t wait to see your results!