HOW-TO: Find & Launch Products That Sell Instantly
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Transcript of HOW-TO: Find & Launch Products That Sell Instantly
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HOW-TO: FIND & LAUNCH PRODUCTS
THAT SELL INSTANTLYA Simple System for Nimble Entrepreneurs
+Chris Mohritz | [email protected]
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OUR JOURNEY
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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CONTEXT
● Will use physical products for examples● But these principles apply to physical
products, digital products, services, etc.● As I walk through this, put your
circumstances into the example
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HOW IS IT USUALLY DONE?
The Status Quo
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MAINSTREAM THINKING
● Start with an idea● Create or source the product● Then find a customer● Most startup methodologies teach this
process
Idea Supplier Product Customer
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THE PROBLEM
● Getting traffic/customers is the hardest part
● World has become extremely noisy: difficult & expensive to get adequate attention from customers
● World has lowered attention span: difficult & expensive to hold attention (and educate them on your product’s merits)
● Risky: significant investments required before answering “will they buy?”
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THERE’S AN EASIER WAY
● Find something they’re already buying, and give them a better version
● Always start with the traffic ● Plenty of well-established marketplaces
(amazon, etc.)● Marketplaces are ready-made traffic
Customer Product SupplierOpportunity
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PERSPECTIVE MATTERS
"Don't find customers for your products,find products for your customers."
~ Seth Godin
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IS THERE AN EASIER WAY?
Challenging the Status Quo
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FIND AN EXISTING TRAFFIC SOURCE
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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TAP INTO EXISTING TRAFFIC
● Can be your existing customer base or 3rd party (marketplaces)
● amazon.com● ebay.com● etsy.com● envatomarketplaces.com● etc.
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FIND AN OPPORTUNITY
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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FIND A STARTING POINT
Pick a product that’s already selling well...● Avoid brand-driven products● Can you improve on the incumbent’s
quality?● Can you provide a better (overall)
experience than the incumbent?
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RESEARCH FEATURES
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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DO YOUR HOMEWORK
Read existing (seller & blog) reviews...● Get into your customers mind ● What unique language is used?● What features do they value? dislike? etc.● How do they use the product?● Find competitors’ strengths & weaknesses● Use it to create your FAQs● Use it to create your marketing copy● Use it to define product image scenarios
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FIND A REFERENCE BRAND
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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SPEAK THE CORRECT LANGUAGE
Find website your target already audiences uses (product or blog)...● What (type & specific) words are used? ● Headline ideas● Bullet point ideas● Find other places your audience hangs out
at (future advertising)
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DEFINE PRODUCT REQUIREMENTS
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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THE MUST-HAVES
Capture a list of required features & talking points based on reviews research...● Goal: Minimum Lovable Product● Match incumbent's current quality● Fulfill as many review “wants” as feasible
○ Can be product attributes, or○ Marketing talking points
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PLANNING
Improve upon the incumbent…● Product’s overall experience (unboxing,
freebies, education, etc.)● Product quality (better materials,
innovation, etc.)
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FIND A SUPPLIER
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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PLENTY OF SOURCING OPTIONS
● Find supplier after fine-tuning product requirements
● alibaba.com● aliexpress.com ● dhgate.com● thomasnet.com● commissionjunction.com (affiliate links)
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FIND A WEBSITE DESIGN
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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START WITH A TEMPLATE
● Simple landing page to start● themeforest.net● Fill with stock images of similar product
(temporarily)● shutterstock.com
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SHIP IT
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
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CLOSE THE DEAL
● Craft your product/brand story from reviews research & reference brand data
● Product live (on marketplace)● Website live● Customer support live● Promote it (next session)
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SHIP IT - A GUIDE
● sethgodin.typepad.com/files/theshipitjournal.pdf
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DON’T STOP!
● Find another product for same customer○ Prefer complimentary products, cross-promotable
● Expand sales channels (more marketplaces)
● Create internal store (ecommerce site, etc.)
● Build a brand
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ADDITIONAL TIPS
● Focus on one product a a time, go deep (most people go wide and too shallow)
● If stuck, pick a product you assume will fail○ Fail elegantly: pick a product that maximizes
learning & minimizes loss● Always cross-promote your products when
you have more than one serving the same customer base
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SUMMARY
Find Traffic Source
Find Opportunity
Research Features
Find Reference Website
Define Requirements
Find Supplier
Find Website Design
Ship It
Customer
Start Here
Focus Here
Get Here