HOW-TO: Find & Launch Products That Sell Instantly

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The paradigm has changed. As an entrepreneur, "your job is no longer to go find more customers for your product, but to go find more products for your customers." (~Seth Godin). …

The paradigm has changed. As an entrepreneur, "your job is no longer to go find more customers for your product, but to go find more products for your customers." (~Seth Godin).

Join us for a discussion on this mindset shift, where it came from and why it's critical to the future of your business.

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  • 1. HOW-TO: FIND & LAUNCH PRODUCTS THAT SELL INSTANTLY A Simple System for Nimble Entrepreneurs +Chris Mohritz | chris@mohritz.co
  • 2. OUR JOURNEY Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 3. 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
  • 4. HOW IS IT USUALLY DONE? The Status Quo
  • 5. 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
  • 6. 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?”
  • 7. 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
  • 8. PERSPECTIVE MATTERS "Don't find customers for your products, find products for your customers." ~ Seth Godin
  • 9. IS THERE AN EASIER WAY? Challenging the Status Quo
  • 10. 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
  • 11. TAP INTO EXISTING TRAFFIC ● Can be your existing customer base or 3rd party (marketplaces) ● amazon.com ● ebay.com ● etsy.com ● envatomarketplaces.com ● etc.
  • 12. FIND AN OPPORTUNITY Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 13. 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?
  • 14. RESEARCH FEATURES Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 15. 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
  • 16. FIND A REFERENCE BRAND Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 17. 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)
  • 18. DEFINE PRODUCT REQUIREMENTS Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 19. 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
  • 20. PLANNING Improve upon the incumbent… ● Product’s overall experience (unboxing, freebies, education, etc.) ● Product quality (better materials, innovation, etc.)
  • 21. FIND A SUPPLIER Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 22. PLENTY OF SOURCING OPTIONS ● Find supplier after fine-tuning product requirements ● alibaba.com ● aliexpress.com ● dhgate.com ● thomasnet.com ● commissionjunction.com (affiliate links)
  • 23. FIND A WEBSITE DESIGN Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 24. START WITH A TEMPLATE ● Simple landing page to start ● themeforest.net ● Fill with stock images of similar product (temporarily) ● shutterstock.com
  • 25. SHIP IT Find Traffic Source Find Opportunity Research Features Find Reference Website Define Requirements Find Supplier Find Website Design Ship It Customer
  • 26. 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)
  • 27. SHIP IT - A GUIDE ● sethgodin.typepad. com/files/theshipitjournal.pdf
  • 28. 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
  • 29. 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
  • 30. 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
  • 31. Feedback? Questions? chris@mohritz.co