Quote:
Originally Posted by Dien Rice
Hi Gordon,
Thanks, this is a very valuable post! Here's why...
It provides a great "model" for us to follow to create our own info-product businesses...
It's already changed my thinking... and I made quite a few notes, which will change how I do things going forward!
Best wishes, 
Dien |
A look at the "models" .
Idea. Action. Product. Market. Marketing.
Product. Action. Marketing.
MARKET, needs/wants, Product. Intersection.
Or...we have an idea for a product, too often falling in love with our own brain child, without a clue whether or not anyone would want it, let alone pay for it.
When I was working for Ben Suarez, at SCI, one of my assignments was to contact people who had submitted products to us for possible marketing.
Of the 150 or so I sorted through, maybe 2 or 3 might be worth testing, and when contacting the owners/submitters, not one deal was struck.
The one we had the most interst in, wanted a million dollars up front. He thought he had a multi million dollar idea and we would gladly give him money, and trust me, he was one of the least delusional folk I spoke with.
Almost to a person, they all LOVED thier idea and thought we would pay them for it, and in explaining how it worked, most felt it was very unfair and tilted too much in our favor. Of course it was, we were putting up all the money to test it. This is, you will find a very common, albeit ignorant, concept inventors and creators have about how the market should work.
Then, there were guys like Bill Burkett, EdenPURE heater marketer, who apparently has been paid millions of dollars for bringing that product and understanding how a small % can add up, considering it has over a Billion dollar in sales, Bill did pretty well for hisself, eh?
Some start with the idea, and take several years to perfect, we've had them here...and after all that time, trouble and work, they couldn't even give it away.
A lot of app developers are like this.
If you just like to create, tinker, play around, all this is fine. IF you are interested in maybe making some money, here is the best model to follow...and feel free to dispute and show me I'm wrong.
DEMAND. That is the starting point, one that took me many years to get around to understanding and IMPLEMENTING. Maybe, maybe a few get lucky and can create or drum up demand...but the best model, the one with the least slop and mess, with the highest chance of success is...
Find a hungry crowd and feed it. As said by thousands of marketers, Gary Halbert being the first one I knew about.
Or DEMAND. The only reason I am excited about ONLINE SPORTS BETTING, isn't because I like it, or love it, I'm too tight with my pennies to ever give one to a bookie, but as a marketer of information...
And a 61 BILLION DOLLAR established industry projected to double in a few years...I can clearly see the demand.
Yes creative people like to create, and for some it is art. But when talking dollars in the bank, make sure there is a market for your creations.
So, with my little Hotsheet/minirport, and a small intersection here, I have gotten some good feedback, most people said it was NOT on their radar, they don't know anything about it, which my little hotsheet is intended to do, open their eyes.
Not to gamble, or place bets. But if they so choose, they can make some money in the coming months from offering little hotsheets, small reports and maybe even follow this model to do it. Something. Feedback. Addition. Feedback. MORE, tuned and tilted toward them.
And WHAM, an information product or possible recurring income stream just as newsletters have done for Dien Rice.
Most of us, seldom or rarely think about the models to choose from.
For me. Least slop and mess. Lightest work loads. Fast profits, with exponential growth.
What models will work for you all ?
Gordon