Ask Yourself These Smart Questions Before You Develop An Info Product

For the best possible chance to succeed, answer a few simple questions before you release an info product on to the market.

To start with, most people are aware that there are three main categories to market to… All and sundry, Subcultures and Niches.

But remember, if you are trying to develop an information product which is aimed at the world and his dog, then the likelihood is that you're not going to succeed at all.

Now you may well say to me that there are plenty of multi-nationals making a living from developing and selling a product world wide, so why can't I? But what you have to be aware of here is that a product that has been developed with a massive market appeal, will be backed up by a multi-million dollar advertising campaign to get it off the ground.

Here are just a few facts that you should take note of…

It is said that it takes up to 3,000 ideas to come up with 1 successful product for the large multinational organisations. That scares the pants of me! For every 3,000 ideas put forward, only 100 of them will make it on to the exploratory project stage.

Out of those 100 only 10 will make it the next phase where a well developed business plan is drawn up and projections are developed and analysed to see if it is worth going ahead.

From those 10 only 2 will get through to the stage of a fully fledged product and launch… and then of those two launches only one product will probably survive. Even then it may not last that long before it withers and dies. Heck!

Now there is a very important point to take away from this and that is that any type of product development can be an expensive business… and even if you are lucky and all the number crunching suggests that it is a goer, you're still not guaranteed a winning product.

If it is the case that the corporate giants, with their deep pockets to bankroll a new product's development and advertising are struggling, then what chance have people like us solo entrepreneurs got?

The good news is that we actually have a very distinct advantage over the big boys, but only if we follow a few simple rules.

Don't try to develop a product aimed at everyone. Minutely focus down on a subculture or niche. Keep your ears open and listen out for what your market is looking for and then go give it to them.

It is that simple… but Cash Generatingly Powerful.

So what should you find out about your subculture or niche market before you ever develop a product for them?

Here are 10 questions for you to answer before you even pick up a pen, bash out a draft on your keyboard or turn on your video camera to begin making your product.

What do they think of as they lie awake at night? What are they fanatical about? What is their primary frustration? What is it that they secretly desire the most? Who are they mad at and why is that? How do they go about making buying decisions? Do they use some sort of special language and vocabulary? Who else is selling products to them? Who has tried to sell them something but failed and why? What is it that you have, or know, that could be turned into a competitive advantage?

You need to be able to answer these questions in depth and then you'll have a good grounding to begin on your own product development.

What is more, here's a bonus tip for you that is worth it's weight in gold. Question 9 above says: "Who else has tried to sell something but failed?"… a clever entrepreneur will turn this question on it's head and ask themselves… "Who else is selling and winning?" Then they will, more importantly, drill down to establish WHY this is!

If you look around you will come across some pretty stupid people talking about "competitor intelligence" and about "doing their homework" In the main, most of them aren't deploying any sophisticated analysis when they do this.

They see some other entrepreneur or business doing well and they think that they'll just replicate that business without digging deep and understand what ever unique thread that binds the customer to the successful product and entrepreneur. Worse still, are the people who are replicating marketing tactics that aren't even working.

Product development is no different. You just can't simply buy someone's product… disassemble it and then build your own… All the above and a few more factors are involved in winning product design, development and marketing. So before you boldly release that info product of yours, stop and ask yourself these questions.

Comments? Questions? Email Here

© HowtoAdvice.com

How to Advice .com