Let’s start with what you DON’T DO. Ask your significant other, your neighbor, your friends or the guy cleaning tables at the coffee shop if your hot, new idea is a good one. Unless they’ve sold a crap-ton of products online, their opinions are worthless.
Guessing won’t do you any good either. While that idea in your head may seem like a surefire winner while you’re laying in bed at midnight, the Internet has other plans for it. It’s already seen your idea 10,000 times and won’t be impressed.
There’s a science to producing good product ideas…a science that is both technical and mental.
On the technical side, you have to do a very particular form of research. Not just checking if other people already have the same idea or if the domain you want is available, but a specific formula that will tell you if people will stop in their tracks to look at your idea, if they’ll open up their wallet to pay you for that idea, and how much profit that little idea in your head could actually generate. No guessing, no dreamy projections, but a unique, systematic formula that gives you actionable hard numbers.
On the mental side, you have to do something I call IDEA CIRCUMVENTION. There’s nothing original on the Internet anymore. It’s all been done and plenty of people have already had your idea. So you circumvent this by recasting the intent of your idea into another form…where to your prospects, you have something they’ve never seen and that no one else offers. Idea circumvention is deep, spooky stuff. But it’s one of the most powerful skills you can possess.
When you combine the technical and mental processes, your problems suddenly change. No longer do you struggle trying to come up with good ideas for products that will sell…but your biggest problem becomes determining which of your ideas will generate you the most profit, for the least amount of effort and in the shortest amount of time. It’s a good “problem” to have.
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