HOW-TO: Find & Launch Products That Sell Instantly

HOW-TO: FIND & LAUNCH PRODUCTS

THAT SELL INSTANTLYA Simple System for Nimble Entrepreneurs

+Chris Mohritz | chris@mohritz.co

OUR JOURNEY

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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

HOW IS IT USUALLY DONE?

The Status Quo

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

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?”

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

PERSPECTIVE MATTERS

"Don't find customers for your products,find products for your customers."

~ Seth Godin

IS THERE AN EASIER WAY?

Challenging the Status Quo

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

TAP INTO EXISTING TRAFFIC

● Can be your existing customer base or 3rd party (marketplaces)

● amazon.com● ebay.com● etsy.com● envatomarketplaces.com● etc.

FIND AN OPPORTUNITY

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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?

RESEARCH FEATURES

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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

FIND A REFERENCE BRAND

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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)

DEFINE PRODUCT REQUIREMENTS

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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

PLANNING

Improve upon the incumbent…● Product’s overall experience (unboxing,

freebies, education, etc.)● Product quality (better materials,

innovation, etc.)

FIND A SUPPLIER

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

PLENTY OF SOURCING OPTIONS

● Find supplier after fine-tuning product requirements

● alibaba.com● aliexpress.com ● dhgate.com● thomasnet.com● commissionjunction.com (affiliate links)

FIND A WEBSITE DESIGN

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

START WITH A TEMPLATE

● Simple landing page to start● themeforest.net● Fill with stock images of similar product

(temporarily)● shutterstock.com

SHIP IT

Find Traffic Source

Find Opportunity

Research Features

Find Reference Website

Define Requirements

Find Supplier

Find Website Design

Ship It

Customer

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)

SHIP IT - A GUIDE

● sethgodin.typepad.com/files/theshipitjournal.pdf

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

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

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

Feedback?Questions?chris@mohritz.co