To be successful in your business, you need to create a product that sells. While this is easier than done, so-called experts make it even harder by spreading these three myths about product creation:
Myth #1 – It takes a long time to create a profitable product.
Unfortunately, all this myth does is either discourage people from developing a product because they don’t have the time or cast doubts on the products that were created in what would be considered a short amount of time.
Some products may take time to create but not all. Remember, the value or quality of the product doesn’t always depend on how long you’ve spent on its development. For example, you can create a 60-minute webinar about a topic that you are an expert in. Then, record and edit the video. In general, this process could take less than a day. After that, you have a product that you can sell. That didn’t take too long, did it?
Myth #2 – There are already way too many products that are similar to yours.
This myth is designed to keep you from leveling the playing field by becoming part of the competition. If businesses believed this myth, commerce would die. Yes, you do want to aim for originality, but unless your product or the needs of your target are unique, you’ll be stuck in a rut thinking of ways to differentiate yourself when what you know and what you’re good at is creating an already existing product.
If you already know what product to create, look for ways to differentiate your company and your products by creating something better than what customers would find on the market. If you’re trying to find ideas on which products to produce, research the ones that are selling well and develop ways to improve them.
Myth #3 – Create a product that you are passionate about.
You’ve heard it said that if you do something you love, money will naturally follow. Sadly, a lot of people have bought into and continue to buy into this myth. While your passions are worth pursuing, they aren’t always lucrative nor practical. Consequently, people who believe that they will get rich or become successful as long as they follow their hearts often end up being disillusioned.
In business, passion does count for something but unless there is a solid demand for what you are offering, you can’t expect to stay afloat for long. Before starting a business venture, you should first do your research. Find out what your community needs and how they want it delivered. Once you determine these details, you can start developing a product that stands a chance of making you a profit.
If you’ve ever been discouraged from creating a product after hearing any or all of these myths, now is the time to be free from wrong preconceived notions. Develop your product and start selling!