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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). 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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HOW-TO: FIND & LAUNCH PRODUCTS
THAT SELL INSTANTLYA Simple System for Nimble Entrepreneurs
+Chris Mohritz | [email protected]
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
