When I first started out with internet marketing, I wrote down way too much stuff in my ToDo list. I had more than enough products and projects to fill out the next five years with launches!
I even started noting down stupid things such as how many sales I expected to make from each one of those products and projected profits etc. What a load of crap!
Planning to the nth degree is never going to work.
Successes and failures…
I’ve launched some products that made $17,000… others that made $8,000… others made $2,000 and one product that took me a week to develop made $24!
You will not know how well a product is going to sell until you finally launch it, whether it is perfect or not and sell it. You must now let the market decide if you should create similar products or try something else.
It’s a common problem for people (including me) to start planning and over-planning absolutely everything. This is why it is important to start and finish a product within a 7-day window (preferably a 3-day window once you’ve got the hang of it).
If that means you can only create a 12-page report for $7… then that’s fine.
If that means you can only record four hours of video this week and price your product at $47, then that’s also ok.
Create something small to test the market
But the trick is to create something small that doesn’t take a lot of time to test the market. You can always create Volume 2, Version 2.0 or the next product later.
Don’t get too distracted in your market research especially when you ask your list, “What should my next product be?” Many people will lie! If you ask the same question on a forum, many people will poach your ideas as well as the ideas of people that respond to you. Sometimes they will just get a ghostwriter and beat you at your own game!
So instead of planning your next ten products, plan and launch your first product. Once the product is out there, start working on the upsells, downsells and future solutions you will provide.
- Create one small product to test the market.
- Course-correct as needed depending on the reaction from your list, forums and joint venture partners.