When it comes to starting a business online…obviously, you need something to sell. But so many of us avoid “launching” our business because:
- We can’t decide what market we should sell to
- We can’t decide what product we should sell that market
So, if you’re thinking any of these thoughts:
1. “What can I sell that people will actually buy?”
2. “How do I find (or create) a product if I’ve never done it before?”
3. “What if no one wants what I’m selling?”
…then keep reading…
Look, I’ve created (and sold) over 96 different products, so I know a thing or two about this. And the good news is, it’s WAY simpler than you think.
Let’s start with what type of product you should be selling, if you’re just getting started.
My Favorite Type of Product To Create
In the end, there are 3 types of product you could create.
- A Physical Product (shoes, notebooks, etc)
- A Digital Product (ebook, video course, etc)
- A Service (website design, lawn care, etc)
If you’re just getting started, I would rule out physical products.
Why? Because it’s the toughest to start off with. It takes time (and money) to learn the process, develop a product, manufacture it, and start selling it.
And even if you can move a lot of units, your take-home pay gets slashed by all the hard costs that go into it.
The fastest type of product to get off the ground is a service.
You can call someone up today, ask if they need help designing a new website, and if they say “Yes!” and agree to pay you to do it, you can start working (and making money) today.
But there’s one major problem…well 2 problems.
- Services don’t scale (easily) – either you have to work 24/7/365 to make more money…or you have to hire (and manage) a ton of people
- “Freedom” is not going to come easy – if you’re working long hour or managing a ton of people…say goodbye to a hassle-free lifestyle
That leaves my favorite type of product: Digital Products.
Creating a digital product is quick, easy, and cheap.
You can fire up a Google Doc, start writing, and by Monday morning have an ebook that thousands of people are willing to pay you for.
Sure, you can’t (usually) charge $1,000 for an ebook…but you don’t need to if you can sell 5 or 10 of them per day.
If your goal is getting to $100,000 in sales each year, you only need to sell 14.42 ebooks at $19 each to do it. And it’s all profit.
How To Pick The Perfect Niche To Sell To
Ok, so you’re thinking about writing an ebook…now, how do you pick a market to write for?
Well, I have 3 rules for picking a market or niche:
- They Have To Be Passionate About What Could Sell Them – think about golfers for a minute. Most golfers would do almost anything to beat their friends in a round of golf. Because their “passion” is so high, your chances of getting them to buy from you (if you help them solve a need) is very…very high.
- They Have Money To Spend – I made this mistake when I first started trainbaseball.com. I marketed my first baseball ebook to the actual baseball players, who were mostly 10-16 years old, and had no money, let alone a credit card to buy with. As soon as I started marketing to the parents and coaches…BOOM. I had a real business almost overnight.
- They’re Easy To Market To – if you chose an obscure niche that is not easy to find and market to online, you’re in trouble. Luckily, almost every single niche is easy to get to these days because of Google AdWords (you can put your message in-front of anyone searching on Google for your search terms) and Facebook (you can place ads or join groups in just about every niche or interest on the planet).
Follow those rules, and you’re off to a great start. Unless you break “The Golden Rule.”
My Golden Rule: YOU must be passionate about the market you’re planning to sell to.
If you hate working out, do not try to write an ebook about working out. I don’t care how much money you think you can make, do not enter a market you don’t care about.
If you’re passionate about what you’re creating, the quality of your work will be 10X better…which means your customers will be 10X happier…which means you will make 10X more and be 10X less frustrated.
How To Create Your Product In 3 Days
Here’s where most of us get stuck…and end up spending months getting our product ready to sell.
We’re convinced by “product creation experts” that our product can’t have even a single flaw…and it devastates our progress.
All the sudden we’ve spent 8 or 9 months working on our product, trying to perfect it, before we ever ask someone to buy it.
Look, I’m all for having a great product that exceeds expectations.
What I’m not all about is polish for the sake of having polish.
When Apple launches a new iPhone, are their bugs? You better believe it. But we all still buy them because at it’s core, it’s an amazing product…even if it accidentally wipes all my contacts for no good reason
Experts will tell you to spend months researching, testing, studying, and perfecting your product before “you’re aloud” to sell it.
If you had cancer, and I had the cure, and I wrote it inside my new ebook, would you want me to wait to let you buy it until I have a beautiful cover designed? Of course not.
But that’s where everyone gets stuck. The details. And the details DON’T MATTER.
No one cares about the cover of your book. No one cares if there are a couple typos. No one cares if you left out a couple non-essential pieces of information.
People just want their problems solved. And if your product solves a problem, START SELLING IT.
Ok, I’ll get off my soapbox…
Here’s my 3-Day Formula for getting a new digital product out the door in a hurry…
Day #1 – Brainstorm & Blueprint
The first day I just map out the product I’m envisioning. This is where I get to let my imagination run wild and dream up everything I’d love to include in my new book or course.
After a few hours, the second half of the day I organize all those ideas into an actual outline.
And by the end of the day, I’ll have a working Table of Contents for my new book or course.
Day #2 – Record & Create
Day #2 is where I do nothing but create. Whether I’m writing a book or recording video or audio lessons…I’m creating all day long.
Warning: by the end of this day you’ll be 2 things:
- Incredibly Proud of Yourself
Day #3 – Edit & Publish
The final day is all about editing and tweaking what I created the day before. I’m re-organizing anything that needs to be moved around, and adding enough polish to make my book or course easy to follow and easy to digest.
And that’s it.
The beauty of creating digital products is this: you get unlimited “mulligans.” (aka Re-Do’s)
If you find a typo later on, you can easily tweak your word doc and re-export the PDF and re-upload that PDF to your site. And no one will ever know you screwed up. (Remember, even if they did know…they won’t care because you solved their problem)
This is why I love digital products…because it allows you the freedom to make mistakes, and do what your business, and your customers really need: you to start selling this product and changing people’s lives ASAP.
Now, What Are You Going To Make?
Let me know what book or course you’re going to create this week in the comments. I’d love to hear what market you’re going to serve, and how you’re going to serve them.
And as always, hit me up with any questions!
Get My New Book, For Free?
If you’re serious about building an online business, and want to know how “Pros” get to $100,000 per year …you need to get a copy of my new book, The Going Pro Manifesto.
I’m giving away copies of the book completely free, all you have to do is cover the shipping.