Creating profitable products is one of the most important skills you need to master in order to achieve massive success online.
And you want massive success online, yes?
Mistake #1 in building profitable products: always starting from scratch – Too many people make creating their product take too long because they have to reinvent the wheel every time. Sure, your first, and maybe first products, are in beginner mode, but after a few, you don’t have to start from scratch.
What to do instead: follow a tried and tested formula – Create or follow a form for the creation of your product that is tested and repeatable. This tip alone will dramatically increase your profitability.
Profitable Product Creation Mistake #2: Thinking it’s just for those “special people”” – I hear it all the time –
“Well, you can easily create products because you’re one of those Internet guys.”
Okay, you can keep that excuse if you want. But how do you think I got to be one of those internet kids?
Doing the work to create the products!
What to do instead – Do. Tea. To work. – Stop making excuses and just get the job done. Find out what your community most wants to learn. Use a tried and tested system to create it for them. Then give it to them. Rinse and repeat.
Mistake #3 in creating profitable products: Too few or too many – Most people tend to err in one of two directions:
very few products – Create one and only one. There is nothing else here for your client to invest in for their next steps to success.
too many products – I’ve done this before. I realized that I had too many products when a customer, who had been away for a while, asked our helpdesk for his login details for one of my products that he had invested in.
No problem there.
The problem for me was that I didn’t remember creating the product…
What to do instead – Find your sweet spot– This is best done by following my 3 rules for online success:
1) keep it simple
two) Less is more
(notice how numbers 1 and 2 above were violated)
3) Do it now
Listen, you can create products and resources based on your experience. The hardest part is getting started. I challenge you to start before your head hits the pillow tonight and start creating a product.