This week was all about taking my niche ideas from Week 9 and seeing if they are likely to be profitable.
One of the main things people get wrong in business is producing something they like and taking it to market without doing any market research or checking the demand for it. The great thing about the niche research approach is that you are able to guage demand and find a ‘hungry market’ and then work on producing a product that will fill it.
I was disappointed (but not totally surprised) to find that my first topic choice of computer training / troubleshooting didn’t show much demand on Clickbank or JvZoo. I was, however, surprised to see my Clickbank search for ‘Computer Training’ come up with a course for lengthening the ‘gentlemen’s sausage’. Not the sort of course I would expect John Thornhill to promote to his lists!
And that’s the other thing I had to bear in mind. I want (and would go as far as to say ‘need’) my product to be one that John would be happy to promote, so that my launch gets some ‘weight’ behind it. Even if that means I will have to pay to upgrade to John’s full program for that privilage, I have no doubt it is the magic ingredient for a successful first product launch.
Further research and a chat with another mentor / accountability partner has led me to decide to create a course showing people how to use other people’s products with PLR (private label rights) to produce your own products.
I found researching the Warrior Forum especially useful, because you can find people who have already produced products in your chosen niche, then read the reviews and see how they could be improved, thereby learning from other peoples’ mistakes and increasing your chances of coming up with a superior product which ticks more people’s boxes.
I’m really pleased to be ending this week with a definite product idea; I just hope that next week’s topic on ‘Essential Research’ doesn’t reveal anything that forces me to take a step back and choose another topic, as I feel this one is really something that I can get my teeth into and make a good job of.