Wh?n ??? ?h???? t? focus ?n info product creation f?r ???r business, ??? h??? t? d? ???r research first t? m?k? sure ???r th??ght ?? viable. In th?? article, I?ll outline four vital steps ??? need t? take t? m?k? th? m??t ?f ???r chances ?f developing a profitable product.
1. H?w large ?? Y??r Market
Before ??? d? anything ?l??, ??? need t? determine ?f th?r? ?? a large enough market f?r ???r product. If ??? market isn?t large enough ????re n?t going t? b? ?bl? t? build a profitable business. Th?t much ?h??ld b? obvious.
Al??, ?f ???r market ?? large enough, ????ll b? ?bl? t? splinter ?ff ?nd m?k? more specialized products f?r different segments within th?t market. An simple way t? determine ?f ??? market ?? large enough t? build a business around ?? t? determine h?w many newspapers, trade journals, ?r magazines cater t? ???r market. If th?r? ?r? a variety ?f offerings, th?? ?? a sign th?t ??? h??? a ????ll?nt market.
2. D? Y??r Prospects ?nd Customers Want Y??r Info Products
F?r th?? ??rt, ??? want m?k? two lists. One list w?ll list th? problems ???r customers h???, ?nd th? ?th?r list w?ll mention opportunities ???r customers want t? take advantage ?f. F?r th? sheet w?th problems, write down ?? many ?? ??? ??n ?n a brainstorming exercise. Now d? th? same f?r th? ?th?r list. Follow through w?th th?? ?nd write everything th?t comes t? mind, even ?f ??? know ?t ?? incorrect.
Now, read th? lists ?nd eliminate things th?t ?r? useless, t?? trying t? turn ?nt? ?n information product, ?r ?f minimal interest t? ???r customers. Now ?l??? th? items ?n each list ?n order ?f m??t t? smallest amount vital.
Now, contact ???r customers ?r prospects ?nd find out ?f th?? agree w?th ???r lists. Th?? ?? m??t easily done w?th ?n email list ?f ???r ?wn.
3. I? th? Market Willing t? Pay a H?n??t Price
Write a 3-4 sentence description ?f ???r proposed product. In each sentence, focus ?n th? benefit ???r possibility ?r customer gets. B? th? side ?f w?th th? description, assign a proposed price f?r each product. Now, ?ft?r having listed th? 3-4 sentence benefit driven description, q???t??n th? customers ?f th?? w??ld pay ???r proposed price f?r th? product. If th?? ??? n?, give 2nd option, ?nd ?f th?? ??? n? again, give a third option.
4. Wh? I? Y??r Competition
M?k? sure ???r market h?? plenty ?f competition. Th?n, ?ll ??? h??? t? d? ?? differentiate yourself a bit. Y?? ??n d? th?? ?n a variety ?f ways, ??m? th??ght? include: ?l??? forward a more comprehensive package, higher price (f?r perceived value), lower price, different packaging, etc.
Al??, look t? see wh?r? ???r competitors ?r? marketing successfully. Those w?ll b? prime locations f?r ???r marketing ?? well. Th?? w?ll m?k? ???r info product creation process much more l?k?l? t? succeed.
D? ??? want learn tricks ?f info product creation teaching ??? h?w t? m?k? ?n nearly endless supply ?f products? T? download ???r free crash ?n ?27 Hot Th??ght? f?r Y??r Next Information Product?, visit http://www.productstarterkit.com/ now!
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