Product Creation : The 7 Deadly Myths

Most of us know Product Creation is the most profitable online business model. But so many of us don’t get started for one reason or another. Here’s how to break through and start creating hot selling products. MYTH 1: You need a brilliant and original idea. Think about it for a second – how many truly original products do you know of? Most successful how-to or self-help books don’t contain any original information, or even information that isn’t available for free elsewhere. The best ones just deliver the right information in a way that helps people solve a problem. The iPod wasn’t the first MP3 player. The iPad wasn’t the first tablet computer. Apple took existing products, created their own versions and marketed them brilliantly. And you don’t need to be Apple you just need to improve something a little bit or do it a bit differently. The truth is that 99% of products have near identical competitors. The secret to product creation is delivering in-demand results. It is solving a problem. It is not about being super clever or inventing something brand new. MYTH 2: You need to be an expert. Have you ever explained to somebody how to do something? Did that person manage to do what you explained to them? If the answers are ‘yes’, then you have all the skills you need to create an information product. If you read 3 books on a subject, you will already know more about it than 95% of people. Do some more reading and talk to one or two people in who know a lot about the subject; and you’ll know more than 99% of people. You’ll certainly know enough to give excellent and accurate advice on how to fix a problem. MYTH 3: Creating your own Product is hard and takes a long time. Product creation isn’t that hard – it’s a lot like a school assignment or project. You identify a problem, research a solution. That’s it. If the answers exist already you’ll be able to find them and use them. Either by yourself or by getting somebody else to do it. MYTH 4: You need to be passionate about my subject otherwise you won’t enjoy creating or marketing your product. The thing to understand here is that the passion often doesn’t come before you start making the product, it comes after you start. As you create your product, you invest more and more of your time, emotion and ego. You develop opinions about the best and worst ways to do something. Then the product creation becomes a lot like explaining something to a friend who comes to you for advice. MYTH 5: You need social proof or testimonials before you start. You can get both proof your product works and testimonials after you create your product. It’s very simple, you just offer a free copies to a few people. Then ask for an honest review. From there you can use the good things they say as testimonials and proof. You can also learn how to improve your product from their feedback. MYTH 6: Somebody else already has the market sewn up; you won’t be able to compete or make a product as good as theirs. It doesn’t matter what the product is, it can be improved especially information products. And an improvement doesn’t need to be ‘bigger and better’. Simpler, shorter and cheaper will be an improvement for a lot of people. No one product suits all customers. There is room for another approach, another angle. If you take a different approach, a lot of customers may well prefer your approach. MYTH 7: You won’t be able to find a USP. ‘USP’ is an acronym for ‘Unique Sales Proposition’. This just means the features your product has that your competitors don’t, or the unique angle your product takes towards solving the problem. The great news is information products are the easiest products of all to find a USP for. Information can be compiled in a million different ways. You just need to ask the question “What can I do for my customers that others don’t do?” Don’t let these myths stop you from product creation, get started.