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Get Rapid Action Profits today.
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FOUR HOUR ENTREPRENEUR #4
March 24, 2009
Inside this issue:
How to Get Unlimited
Product Ideas
Plus:
Tully Traffic Tip #201
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Seriously, Get Rapid Action Profits today.
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“Small opportunities are often
the beginning of great enterprises.”
- Demosthenes
Man what a week…
You might have noticed there was no issue last Tuesday.
I spent the entire week preparing for a lawsuit against my old
financial adviser — been neck-deep in documents, papers and
never ending legal forms.
To cut a long story short… they made stupid mistakes, sued the
wrong company (one of their creditors), lost, and went
bankrupt… taking millions of investor money with them.
I lost tens of thousands.
And I was one of the lucky ones.
Other people are losing their houses.
I’m young. I can rebuild. But these folks… some of them are
already retired. They have no income. Soon they won’t have a
home.
The lesson?
Be very careful taking on debt. Play nice with your creditors.
Don’t risk what you can’t afford to lose.
Anyway, enough about me. Let’s talk about you.
Last issue we talked about creating info products.
Specifically, using the “Instant Product Creation System” to crank out high-quality products in record time.
Which is great if you already have a topic for your product.
But what if don’t have the foggiest idea about what to create?
How do you come up with an idea for a product?
Let me show you how I do it…
HOW TO GET UNLIMITED PRODUCT IDEAS
Here’s something you might not know:
Not every product you create is going to be a winner.
In fact, probably only 1 in 10 will be a runaway success.
Another 3 in 10 will make money, but they won’t make you rich.
And the other 6? A few will break even, a few will lose money or
take more time to create than they are worth.
These aren’t hard and fast numbers. Some people seem to have the
midas touch and couldn’t make a dud if they tried. But most of
us will see numbers similar to above.
So it stands to reason, the more products you create, the better
your chances of finding that 1 in 10 product that will make
you millions.
And the more products you create, the more front end customers
you get, the more back end sales you make, the more affiliates
you attract… until you’ve got so much momentum that nothing
can stop you.
That’s why the ability to come up with lots of products and
create them FAST is such a valuable skill.
Now let’s take all the guesswork and creativity out of the
picture and make everything step-by-step with a simple system
you can follow.
1. YOUR LIST
If you’ve got a list, survey them. There is no better way to find
out what product to create than to ask the people who are going
to buy it what they want.
You can get a free 100-response survey from SurveyMonkey.com.
The trick is NOT to ask what product they want, but to ask what
problems they are having. Create a product that solves an urgent
problem and it will sell itself.
2. FORUMS
People love to complain. And what better place than forums!
Check out these two resources to find forums in your niche:
http://www.theforumfinder.org/
http://directory.big-boards.com/
Or just type “YOUR NICHE + forum” into Google.
The good news is complaints are often about problems people are
having. Look for problems that come up often or that many people
seem to be having.
Can you create a product that solves those problems?
Often it’s VERY simple to model your own product on an existing
one then simply “fix” whatever people were complaining about.
Most problems people are complaining about can be solved very
easily with a few minutes on Google.
But here’s the thing: most people are REALLY BAD at using Google.
If it doesn’t come up on the first page for the most obvious
search term then they can’t find it. You can take an hour or
two to research a topic other people are either too lazy or
incompetent to research and create a product that hands the
solution to them.
3. TWEAK A PROVEN SELLER
Check out the best seller lists on Amazon, eBay, Paypal etc.
Look at what is already selling and think about how you can
put your own unique twist on it.
Here are a few idea-generators to get you thinking:
Sub-Niche, Rename, Offer, Bonus, Expand, Contract, Combine,
Split, Format, Language, Delivery, Structure, Compliment, Oppose,
Sequel, Prequel
Each of those represents a way you can tweak an existing proven
seller and make it your own.
For example, do you remember “The Secret”?
It was a HUGE huge success.
Search for “The Secret” on Amazon and look at how Rhonda Byrne
tweaked the original idea to generate half a dozen other
products.
There is…
The Secret
The Secret (Extended Edition)
The Secret Daily Teachings
The Secret Gratitude Book
The Secret Soundtrack
El Secreto (The Secret) (Spanish Edition)
Then other people jumped on the “Law of attraction” bandwagon
and came out with products such as:
- Law of Attraction: The Science of Attracting More of What You
Want and Less of What You Don’t - The Soulmate Secret: Manifest the Love of Your Life with the Law of Attraction
- The Secret Diary: A Personal Workbook for Achieving Health, Wealth and Happiness
All of these leverage the initial success of “The Secret”.
4. USE IDEA TEMPLATES
As a copywriter I have an extensive swipe file of proven
ads — including headlines, openings, guarantees, offers etc –
I can use to get my creative juices flowing.
(I highly suggest you start building a swipe file if you have
not already — more on this in future issues.)
As a product creator I have a swipe file of product names,
article / report titles, and other templates I can use to
quickly generate dozens of product ideas.
For example:
- 5 Easy Ways to _______
- 10 Things to Avoid When _______
- The 7 Most Important _______ For _______
- How _______ Can Get Twice As Much Done In Half the Time
- 51 Costly Mistakes New _______ Make
Then you simply plug in your niche/topic and away you go.
Follow these 4 steps and coming up with ideas for your next
product won’t be an issue anymore. In fact, you’ll likely
have a new problem — deciding which idea to go with.
My suggestion — go with your gut and make the decision fast.
Let the market tell you which ideas are good and which are not.
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