You need to see problems as opportunities. Most people get frustrated and give up because they keep focusing on the problem instead of its solution.
The opportunity arising from a problem is where you create your product. But first look around to see who else has the same problem, just to gauge its market size. This you can easily do through visiting forums. For those who don’t know how to find a relevant forum, all you have to do is enter “forums:with your keyword/problem” into the Google toolbar and Google will display a variety of forums you can choose to visit.
Once you find there’s an interested market, create a product that solves the problem and charge for its solution. Your product could be physical or digital … like an eBook or DVD.
A word of warning, be careful when assessing the market size, never assume your product will be successful if no-one else is doing it. So many businesses have collapsed because the owners thought the market needed their wonderful widget, but in reality, the market never wanted it. This is why market research is so important before embarking on the development of new products.
The “Magic” Question You Should Always Ask …..
“How can I help a WHOLE LOT of people find the solution they need to solve this SEVERE problem and make a BIG, FAIR profit in the process?” – Jim Edwards, Guaranteed Response Marketing.
I’d love to have your input or questions … as I’m sure many others would, so let’s have your comments below.
QUOTE OF THE DAY …
“The way to make a fortune is to sell a necessity which is low in cost and repeats. The fortune is made in the repeat business.” – W. Clement Stone
