How to Find Your Ideal Product for Your Business
Luckily, we humans all have similar needs and problems so it should be fairly straightforward to identify them. The trick is to find something that really captivates you and something you feel passionate about. Otherwise you will soon run out of steam and to be honest… if you’re not really interested in your product… why should your customer? There is bound to be some common interest you will share with your potential customers and in this section we will find it. Then you can begin to create your perfect best-selling online product or service…
It’s so vital that we suggest all entrepreneurs find a product or service that they actually have a personal interest in and base their business on the knowledge or skills they already possess.
- What are your passions?
- What are you are interested in?
- What hobbies do you enjoy?
- What skills do you have?
- What do you have a lot of knowledge about?
- Do people come to you for advice on anything?
Think about this very carefully and write a list for each question. Take your time working on this as it could be the key to finding your ‘hot’ product.
Whatever your interests and hobbies, skills and expertise, it could form the basis of a hugely successful, business. Think about your current work, is there an interest or area of expertise here that you could turn into a product or service?
Think about the benefits of using something you are already familiar with…
- You are using your existing knowledge – no need for months of training or research – you can be ready to go without the hassle!
- You’ll have a head start when you come to developing your online marketing strategy
- You will be able to speak and write about your product or service with authority – you are the expert!
- Your business will have more credibility
- It’s so much easier!
Time to brainstorm!
Right… so let’s discover where your interests and passions lie – and don’t worry, I’m sure you will have at least something you are interested in. Lots of people can’t think of anything when confronted with this at first, but everyone has at least a modicum of interest in something along with a smidge of knowledge or a modest skill, which could be used to build a successful business.
First, write a list of all the things that interest you. If you have any great passions, these will obviously jump out at you but think about and list the following:
|What shops do you enjoy browsing around?|
|What music do you like?|
|What TV shows do you like?|
|Do you enjoy the theatre or the arts?|
|Do you like museums, history or natural history?|
|What books do you read?|
|What absorbs you completely?|
|What academic qualifications do you have?|
|What would you love to learn about?|
|What sort of holidays do you enjoy?|
|What are your hobbies?|
|What jobs have you had?|
|What special skills do you have?|
|What sports do you enjoy?|
|Do you do any volunteer work? Would you like to if you had time?|
|What sort of websites are you interested in on the Internet?|
|Do you have any pets? What animals do you like?|
|Have you attended any evening classes? If so which ones?|
|Have you any health problems? What do you know about them?|
|Do you have any knowledge of antiques or collectables?|
And now for a couple of thought provoking questions designed to get you focused on what you really, really love! Get a pen and write the answers down – this is important.
- What would you do if you won 10 million dollars in the lottery tonight?
- What would you do if you only had 6 months to live?
- Of all your achievements, which ones do you feel most proud of?
- What has been your greatest lesson in life so far?
Now go through the whole list again with a red pen and underline the most important to you or the ones that elicit the greatest emotional response.
What’s your passion?
Now of those items you underlined in red, pick out just five of the most important. Focus on this by thinking about the things you’d pick if you knew that your time on this Earth was short (it is!). These are your passions and these are the things you must concentrate on in order to discover your ‘hot product’ and they are the areas that will bring you the most success in business. Write these out again in the following table.
Now think about these areas in turn and for each one list the skills or knowledge you will need to acquire in order to develop your passion more fully. For instance imagine you have a passion for woodworking, especially building tables – you might come up with the following list:
- Read about woodworking, and various techniques for building tables.
- Research different materials and types of wood that can be used, and the pros and cons of each type
- Look into cost saving techniques
- Review various design plans for tables
- Categorize the various tools that are needed to build and assemble a high end table
If you’re not passionate about your business you’ll soon tire of it! Starting a new business can consume a lot of time and energy and you simply have to have a burning passion for it otherwise you will fall at the first hurdle.
Don’t make the mistake that causes over 90% of Internet entrepreneurs to fail…
Follow your passion if you want to succeed!!
So, don’t try to find a product then look for customers to buy it. This is the way to fail.
Remember – the key to developing a successful business is to find a problem or need that requires a solution. Find the problem first before you try to find the product that will provide the solution.
Follow your passion if you want to succeed.