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Stop Chasing the Money Focus on Your Product First

 


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What!!! Do you mean to say that money is not important?

No I did not say that. We all have homes to run, bills to pay and so on, but if you're just starting out building your internet business then chasing the money is the wrong place to start.

I'm sure, like me, you've seen the claims of internet marketers who create a very persuasive sales page and somewhere in the middle is a screen shot of their latest bank statement - and don't they look impressive!

Have you been tempted by them - even though you may not have actually signed up for whatever they are selling? If you're honest, like me, you'll say yes - it's all too easy to get caught up in the hype.

Now these claims may or may not be true - but the problem is that when we read sites like this we fall into the trap of thinking about the big income we can earn from our new venture before even creating our site or product.

In simple terms - we put the cart before the horse.

That's why I say Stop Chasing the Money!

Instead concentrate on what it is you are going to bring to the market, whether it is a content site, blog, e-book or whatever. But don't let the dollars flash in front of your eyes and then start thinking “What shall I create that will earn me lots of money?"

Consider this. In May, 1886 Doctor John Pemberton, a pharmacist from Atlanta, Georgia, concocted the Coca Cola formula in a three legged brass kettle in his backyard. The soft drink was first sold to the public at the soda fountain in Jacob's Pharmacy in Atlanta on May 8, 1886.

About nine servings of the soft drink were sold each day. Sales for that first year added up to a total of about $50. The funny thing was that it cost John Pemberton over $70 in expenses, so the first year of sales were a loss. Today products of the Coca Cola Company are consumed at the rate of more than one billion drinks per day.

Now ask yourself this ‘did John Pemberton go into his backyard and fire up his old brass kettle with the thought of billions of dollars flashing in front of his eyes?’ Of course he didn't. He was doing what he naturally liked doing and what he was good at - experimenting with ingredients to see what came out.

OK so a lot has happened since then and Coca Cola didn't get where they are today without some effort. But what are the basic ingredients to their success and how should we go about creating our new internet online business? Very simply:

1. Good fortune
2. Good product
3. Good marketing

Good fortune

This is something that you or I can have very little influence over. So if that is the case don't spend time worrying about it. Concentrate on the two ingredients that you can influence.

Good Product and Good Marketing

Coca Cola sells because it meets a customer need. Will your ‘product’ satisfy a customer need in the particular niche market you are aiming at? If your ‘product ‘ achieves this then you will have something to take to the market and then providing you apply the second ingredient Good Marketing you will sooner or later attract a steady stream of customers.

So don't jump the gun and be tempted by the dollar signs governing your thinking - focus first on the content you are going to put into your ‘product’.

I'm not sure how long John Pemberton experimented with his ingredients before he produced the first drop of Coca Cola but I'm pretty sure he experimented and tested before he was finally satisfied that he had something to take to the corner drug store to sell.

So what formula should you follow?

1. Don't start off by Chasing the Money
2. Focus on something you are interested in and good at.

This is a vital if you are to sustain the enthusiasm and the stickability it takes to create your ‘product’ and see it through to a successful conclusion in the market.

3. Research the ingredients of what your ‘product’ will contain.

Get out into your ‘backyard’ and start playing around with your ingredients.

4. Test the market and if necessary go back and do some more research.

When you're satisfied that you have something to offer make it available to others and see what the reaction is. If it meets a need and sells then you're ready to start your marketing phase.

5. Take your ‘product’ to the market.

The initial sales of Coca Cola were about nine servings a day. You too may have to go through this phase for a while until your marketing efforts start to pay rewards. Then the Money will Chase You.

David Blake has more than 20 years experience in creating and marketing online publications and data services. He is currently researching the creation of online products which are based on material that is in the public domain. For more help and newsletter visit http://www.createmysales.com

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