Product Ideas Lesson #1 - How to Profit from 'Failed' Products You Create

One of the biggest objections to product creation is finding a
great idea for a product. Believe it or not, YOU are often your
greatest source for profitable product ideas, and you're about
to discover how to generate more profitable business ideas than
you will ever be able to use.

First, let's talk about a not so surprising revelation - you
already HAVE ideas. The fact is, finding ideas isn't the hard
part of product creation. Sometimes all you need to do is PAY
ATTENTION to what's happening online and all around you, and
then write those ideas down when you get them.

So what is the hard part of product creation? No, it's not
creating the product. It's the step just after having an idea
and just before creating the product, and it's called:

1) Choosing one idea and sticking to it, despite all of the
other distractions.

This is of course followed up by:

2) Continuing to stick with the idea all the way through until
completion.

I'll bet you that you already know from your first hand
experience that perseverance until completion is truly the
difficult part of the product creation process. Compared to
that, getting an idea can be a piece of cake.

Here's a thought that will take some of the stress out of
choosing an idea and then seeing it all the way through to
completion: Even a less than stellar idea - seen through to the
end - will become an asset and a character builder. Let's say
you choose your idea and you run with it. You stick to it all
the way from inception to final product creation and product
launch. But it doesn't perform the way you hoped and you don't
get the sales you anticipated.

You still have an asset you can use for multiple purposes. You
can repackage your product with a new cover and new sales
letter, and see if it sells better that way. You can use the
product as a give away to list build. You can enter your product
in giveaways and joint ventures to also build you list. You can
use it as a bonus when you sell other products you've created or
affiliate products. You can sell resell rights, master resell
rights or private label rights to it. You can publish it on
Kindle, and so forth.

Incidentally, there are numerous cases where a book did not sell
well and the publisher simply changed the title and cover, and
it now sold like hotcakes. So it might not be your product at
all  it could simply be your product's name or the marketing
you're using to sell your product. 

And your product is a character builder for you regardless of
how well it sells because you've now proven to yourself that you
can choose an idea and stick with it to completion. This skill
alone can make you a very wealthy person. 

Still unsure about this? Imagine two people: One person skips
from idea to idea and rarely ever sees them through to
completion. The other person completes one idea after another.
Unfortunately, the second person creates 4 products that don't
sell very well for every product that sells like gangbusters.
After a few years, the first person has 2 or 3 products
completed, while the second person has close to hundred products
created, 20% of which sold like crazy. Who would you say was
more successful? 


To Your Success,
YOUR NAME

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