Be careful of the new shiny thing, it might not make sense in the long run

A lot of internet marketers would love to get going with Product Creation but never start because of this reason : I’d love to create my own product, but I don’t have a great idea.

That is to say, they believe that to create a successful product that sells well and that they enjoy creating and marketing, they have to have a fantastic one-of-a-kind idea that blows everybody away.

Leaving aside that this is a convenient excuse for procrastination, there are several things wrong with this belief, this fallacy.

The first is that most new ideas fail the first time they are marketed. It’s exceedingly difficult to get any 100% brand new product to work right the first time. It usually takes several iterations or generations of refinement to get it right. In the meantime you get poor sales and frustrated customers.

How many brand new products succeeded the first time that you know of? If you say the iPod, iPhone or iPad you’d be wrong. The iPod wasn’t the first MP3 player, the iPhone wasn’t the first smartphone, the iPad wasn’t the first tablet computer.

All 3 devices used off the shelf parts but were just put together with exceptional focus on detail, use and performance.

This is a great model for information products. Take existing knowledge and present it in a better way. Make it look better, make it more enjoyable, polish it.

Take the frustrations you have had with information products before and take them out of your product. Take the things you like and include them.

You’ll end up with something you’ll really like. Which brings me to the next problem with the great idea fallacy, that you’ll only enjoy and be proud of a product with a great new idea. Not true, at all. What tends to happen with a new idea is that you start with a giant spike of enthusiasm which quickly diminishes. When you improve something that already exists, you are left with something that grows, that is a long term asset, that can be re-purposed over and over again.

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