Brian from Million Dollar Value.
I hope you're having a great Christmas.
People often ask "What product should I sell?". Well, take it from me, don't ask that question. The answer will present itself once you start down the path to right thinking and right action. And what is this path?
Market First, Product Second!
No doubt you'll agree that nearly every business, startup or otherwise, tries to create the perfect product in a particular field, then says: "Now, who can I sell this to?".
The product often solves the problem of the creators, or sounds like a cool, fashionable accessory. But, if the numbers don't work, you'll just go broke. Of course, I've been down this path many times before, such as the time I signed up with Herbalife.
The Herbalife stuff is great, and the health industry is definitely there. But, I thought "This stuff is so good, everyone will want it". And I made the mistake that lots of us make all the time: I thought that people would buy from me just because I was there!
People don't buy something just because it's made available to them. People buy when they are ready to buy, not when you're ready to make the sale. And people buy what they already want, not something they just found out about. Also, people buy what they want, not what they need.
So I put up my little signs, classified ads, and waited for the phone to ring. And it did. A security guard wanted me to stop putting my signs up, saying they were 'graffiti'. Anyway, I gave up, although if I had known what I know now, I would have had a much better chance.
And I tried several other ideas, before I started to learn from Mal Emery, and from there I started selling information on making money.
I bought a couple of CDs with reprint rights from Mal, and started listing them on eBay. This market is one of the biggest, and I was selling the best product on earth, money.
But of course every person on the planet seems to be selling into this market, so you really need to understand and apply the stuff in my other newsletters. It's a great, easy starting point, but I decided to leave it to the others and look at alternatives.
So, research first. I went to pixelfast.com/overture, and typed in a whole bunch or words. This site gives you the number of searches done on the word last month. Then go to google.com and see how much competition there is in the way of free sites, and paid ads (on the right). Go to andrewanddaryl.com for more information.
The problem with most businesses is that they simply don't do a simple, easy, quick thing: Ask their customers. Most people just assume what the customer will buy, and make that. Then, when sales are slow, they call us stupid for not taking up this incredible offer.
If overture is not for you, how can you find out what your customers are willing to buy? You could offer some reward for filling out a survey, study other successful businesses, even chat over dinner or at a bar.
Information is the best type of product in the world. Find a way to integrate it into your business. Offer a free report to get prospects to contact you, write a manual on how to make money in your industry. Buy products with reprint rights and put together a package.
You don't need extra staff, expensive equipment, you can easily do it all from home. The only reason people in the information industry have any staff at all is because you don't want to sit at the phones from 9 - 5 and write the manuals and write the ads and print the stuff and etc etc.
Ebay is the ultimate home business for many people. There are countless budding entrepreneurs sitting at their computers right now, listing stuff, checking for payments, and cashing cheques. Some people make a full time living directly from eBay, some just use it to get names and addresses.
December is a tough time for most kinds of information products, whether on eBay or anywhere else.
I know Mal Emery's people basically go on holiday in December.
But, next month is a new year, and top of many New Year's Resolutions lists is 'make more money!'. In January, you'll be able to find out if your slow December sales are due to the Christmas period, or if there is another problem you haven't found yet.
If you do the same things, get the same traffic, with the same products at the same prices, you should either see a jump in sales, or not. If not, do some testing with different prices, different packages, different copy.
So, have a look around for information products currently being sold. There are tons on eBay, so check them out, and see if you can ferret out a niche that isn't currently being utilised. That's the trick, not only should you find out what they want first, it's best if you avoid competition.
Let me know if you have any questions, and keep me posted about your successes,
Million Dollar Value
Ebay Superseller's Newsletter #8: What Should I Sell?
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24 December 2005
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