What if a good product is within your reach? There is a great chance of finding products just by taking inspiration from everyday interactions and observations.
You can get a little intentional in everyday routine.
Have you recently purchased products or services? Pause. Think. Ask Why.
Did some piece of content make you stop scrolling? Pause. Think. Reason it.
We all buy products, services, and consume content every day, so getting inspiration from them is easy if you think from that angle.
What does it take to launch a successful e-commerce product?
The truth is no one has completely figured out the perfect equation. Really!
The reason why I think this way is because I know 8 figure founders struggling to replicate successful new product launch new product with exact same strategy.
This also comes from my past 10 years of experience in business, building multiple sales channels and growing e-commerce store from 0-7 figures in revenue.
So,
How do you tackle this challenge?
Solution: Stop overthinking ideas and start testing them.
Inspiration is everywhere online, social media, and offline.
Selling: There are two major ways to sell something online.
Making Content: Your cost is the time you invest.
Making Ads: You pay the cost in money.
Not taking action: Costs in time and money.
Choose One.
Free Strategies to find products online.
Search on TikTok "TikTok Made Me Buy"
Search Trends on "Pinterest"
Look at the comment section what people are talking about.
Find products that solves a problem, offer an experience, offer comfort.
4 Levels of products market
1. Average Products: We see average products selling online every day, just because they are available and presented to the right audience.
Surprisingly, in my experience, the average product takes a lot more work to sell. Plus requires a lot more efforts to run Ads and a huge turnover to see a net profit.
Businesses with 10M revenue might struggle with margins.
Takeaway: Easy to launch, and requires a lot more experience and marketing spent.
2. Good Products: Many good products sell online. This earns your store a bit of goodwill so you might see some repeating customers and this leads to lower marketing cost eventually.
Takeaway: Take more time to research to create a launch a good.
3. Branded Products: This transition comes from validating actual demand in real world. So from good product to branded product is where identity is born. This is where brands are recognised by ideal customers. You can charge more than average product. Miele for example.
Takeaway: Understand human psychology, branding and upfront costs in R&D and Marketing.
4.Impactful Products: Epic products that people fall in love. Apple for example.
Takeaway: Most people are not crazy enough to invest effort into making something this great. This can't be planned, it just happens over time as a result of obsession.
Dropshippers play at level 1.
Levels 2 and 3 are what most people should be aiming for because it does not require a huge risk to test new ideas quickly.
You just need one project to take off to be able to afford lifestyle and business expansion.
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My goal is to break down complex ideas into simple things. If you enjoy reading this consider following me. If not leave feedback what you want to read next?
If you are currently in 9-5 job, I do not recommend leaving a fulltime job and rather think this way.
Support your current lifestyle and start putting few hours into this type of projects. If you fail, you will learn what didn't work. If project takes off, life becomes a little better.
You will head in right direction by doing not from reading books.
A good product takes a bit of research time, awarenss, interest, testing and feedback.
Good products are within your reach.
Act on it now.
P.S. If you think a watching self-guided course will be helpful, consider signing up for the waiting list.
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