ProBlogger: Creating Products Week: Before You Even Think About Creating Products, Think About This

Creating Products Week: Before You Even Think About Creating Products, Think About This

Posted: 31 Mar 2014 07:37 AM PDT

Darren Says: Today we're continuing our 'creating products' week here at ProBlogger by looking at some of the areas of groundwork you might need to do before or while creating a product. Our Marketing/Product Guru Shayne's written this post but I'll chime in along the way with some thoughts too.Over to you, Shayne.

As you explore your different monetization options as a blogger, products will no doubt come on the agenda. We’ve shared lots of stories here on ProBlogger about how products have really transformed all our blogs.Whilst these sorts of stories are encouraging, inspiring, and motivating, the truth is that a lot of work went in long before we launched our first product, which played a significant role in their success.Today I want to share with you some of the things you should be doing right now, before you even begin to think about what product you should create, that will help set you up for the sorts of results we’ve seen here on ProBlogger and dPS.

Pre-Product Idea:

1. Get the momentum moving in the right direction

If you're thinking about creating a product because your traffic and readership has stalled, or even heading in the southerly direction, then it’s probably the wrong time to be launching new products. There are exceptions to this, but for information products (eBooks/courses), it’s important to have some momentum on your blog.

Products are great at capitalizing and helping build momentum – but they're not usually great for creating momentum from a standing start. This is particularly important for bloggers, as visitors and engagement are the lifeblood of your blog.

Don’t get confused between a stall in revenue to that of visitors and engagement, as changes to earnings might not be linked to the true health and sentiment towards your blog.

If you're not seeing upward pointing analytics graphs, even moderate ones, then focus on turning that around before you start creating new products.

Darren says: One of the keys to the success of my first eBook – 31 Days to Build a Better Blog – was that the launch came off the back of doing a month-long series of posts on the same topic as the eBook. While it might seem strange that an eBook that was largely repurposed recent blog posts sold so well when they'd all just been on the blog, it was that month of posts and interaction with readers that generated a lot of momentum. Readers had just received 31 posts of high value, there was lots of goodwill and community on the site, and I think the healthy sales reflected this.

2. Create fans as well as readers

I’ve worked with sites that receive millions upon millions of visitors every month, have email lists in the hundreds of thousands, and massive social media followings.

But that doesn’t mean they’ll sell more products than someone with an audience size only 10% of the big guys’. Why is this? It is because engagement and trust play a massive role in the decision making process of someone buying your product.

If the majority of your readership arrives, looks at your post and then heads off somewhere else, then chances are good they are going to ignore you when you launch your product, and an advertising strategy might be better for you.

If you’ve got real fans who will not only listen to what you are offering, but also share it with others, then you are in good shape for launch.

So if you want to launch product, make sure you have your own share of fans.

I would recommend you looking at 31 Days to Build a Better Blog for some insight on how you can transform the relationship you have with your audience – there are some great community-building exercises you can implement right away.

Darren says: Have you ever pre-ordered a book, music, or product without actually having it in your hands to see if it is something you'd really like? If you have, it is more often than not the result of you being a fanboy/girl of a brand or person.I've had this same experience with our eBooks where people have told me that they've bought them without a great deal of thought because they trusted me or had been helped by me in the past. Creating this 'fan-like' connection takes time. It also is usually the result of consistently helping readers in some tangible way. Be generous, genuine, and always put your readers first.

3. Build your list

Now this should just go without saying, but I’m going to say it anyway. You need to build your list.

You need to build an email list and serve those who subscribe to it well so when it comes time to launch your product then they’ll actually read your email. You need to build your social lists, so your followers/fans on social will take notice. Again it’s not the number that counts, rather it is how they feel about you.

A list will give you the biggest leg up (aside from a several-million-dollar marketing budget) when your announce your new product to the world.

You probably should have started this a long time ago, so if you’re still sitting on the fence, then hop to it!

Darren says: I can't echo Shayne's thoughts enough on this point. Last time I did the analysis of where sales of our eBooks came from I found that more than 90% of our sales came from emails that we sent to our readers.Please digest that.If we didn't have an email list our sales would be 10% of what they are.

While I totally get all the excuses people give for not building and being useful with an email list (it takes work, it is a slow build, it feels like 'old technology'), the reality is that if you're not using it, you're going to be leaving sales on the table.

4. Extend your network

I’m the type of person that goes to a conference and sits in the corner listening, but with the shield of protection that is “me playing with my phone” always up.

I wish it wasn’t the case, as when it comes to launching your product, you need a network.

You need people you can go to for help and advice with your product, you need people with an audience to help launch your product, you need people to help with any media strategy with your launch.

So summon the courage to meet some new people and extend your network as far as you can. I know it’s hard, but it helps and is worth the effort.

Darren says: If you're anything like me you're probably hyperventilating a little after Shayne telling you to get out of your comfort zone like this. I'm an introvert and self promotion and networking does not come easy to me – but he's right.Luckily for us shy types this doesn't have to mean lots of face-to-face meetings and phone calls (although they can help) but can be achieved with email, social media and other internet technologies. The key is to put yourself out there and get to know others in your niche.

5. Earn a reputation

I’m not talking here about a bad reputation, I’m talking here about being known for something – and in the context of what you are sharing on your blog.

You could be known as the person that tells it how it is, as the experimenter, the crash test dummy, as you the sympathetic ear, as the angry man, etc.

You can also have a reputation for sitting on one side of the fence. The Apple guy, the Canon chick, and so on.

I don’t care what it is, but ensure you are known for something beyond your name and the name of your blog, as it will make people excited that your product is not just another puff piece, it’s been created by the ultimate person so it’s gotta be good!

Darren says: the power of this one surprised me a little. When Chris Garrett and I authored the first edition of the ProBlogger hard cover book back in 2008, I noticed a strange trend. When people reviewed it, the most common word that people used to describe me was 'nice'. Time and time again reviews mentioned that I was one of the 'nicest bloggers' going around.At first I wasn't so sure about it – don't nice guys always finish last? – but I realised that it had actually become part of my brand and as Shayne says – it was what I was known for.

6. Research and learn

You will learn a lot by doing, I assure you of that. More importantly, what you’ll learn are the nuances of your particular product and audience.

Before you start your product journey, start first by looking at your competitors. What products they have, how they launched them, how are they priced, how well they do they seem to sell?

Keep reading blogs like ProBlogger so you can follow stories about the launch, or join a community like ours so you can ask questions in a private environment.

Spend a month or two ensuring you're smarter than anyone else when it comes to products and launches.

Don’t just make it all up as you go along! (just bits of it…)

Darren says: This was an area I didn't pay a heap of attention to with my first couple of eBook launches. It was partly that there were not many others doing eBooks in my niches at the time, but also partly because the actual product creation process was quite overwhelming.However, I think I'd have probably launched my first eBooks differently by spending a little more time in research mode. The key for me here is not to copy what others are doing but to learn from it, and also look for opportunities to differentiate yourself from the field.For example – is everyone in your niche doing short and lightweight $5 eBooks? Maybe there's an opportunity to become known as blogger who does more in-depth premium quality eBooks or even courses?

7. Define your REAL strengths and weaknesses

As I get older this seems to get easier, but as a bulletproof teenager I thought I could do anything and if I admitted a weakness it was just giving my competition something to prey on!

But by understanding and admitting what your real strengths are, you are able to focus and unleash them in your products. Knowing your weaknesses means you know what you can't offer and what you might need to get help on so they don’t hold you back.

If technology is not a strength, get help or partner with someone who is. If you are more of a visionary sort than someone with attention to detail, then make sure you have checks and balances in place to deal with that.

Don’t live in denial about what you’re good and bad at. If you do, it will show in your product and the people that might buy it.

Darren says: For me this has two levels to it – both as a product creator and in the launching on it.Firstly – when I wrote my first photography eBook I did so feeling acutely aware that I was not a professional photographer. I've always been an avid amateur photographer and know enough to help beginners but in writing that first eBook wanted to beef it up a little. As a result I had a pro photographer give it a technical edit to add a little depth to it, but also commissioned a chapter of it to be written by a more technical writer. I also added a section with interviews from pro photographers. By doing all of this, I felt I produced a much more helpful product.

Secondly – when it came to launching my first products, I was very aware that I'd never done such a launch before. I knew nothing about shopping carts, creating sales pages, merchant facilities, affiliate programs, etc.

As a result, I sought the advice of numerous people to help me get my first launches right. Shayne was one of those who helped me particularly with sales page and sales emails but there were others who helped along the way too (for example it was Brian Clark from Copyblogger who helped me name my first photography eBook).

By seeking the advice of others, I know for a fact that my eBooks sold more copies. I also learned a lot so that when my next launches came I was more confident and had more skills to bring.

8. Understand your readers

You might thing you know your readers pretty well based on your interactions on social media, or the comments they may leave, but I challenge you to go a little deeper. For every comment you get on your posts, there are 100 or 1000 people who are reading and not saying anything. It’s a great assumption to make that they think in the same way as the commenter.

I encourage you to reach out and understand your readers even more. Survey as many as you can and ask them to tell you a little more about themselves. Pick some at random and have a conversation with them. I guarantee the results will surprise you.

There’s more than one reason to go this extra step. Having this deeper insight into your readers not only gives you a much better platform to decide on which product to create, it also gives you some clarity around what you should be posting about as well.

Darren says: The more you know your readers, the better position you'll be in to create products that they actually want and need. You'll choose better topics, create the right type of products, price them better, market them better and all in all everyone will be better off (both you and your reader).Further reading: how to create a reader profile (and why they’re important), and why knowing your readers is incredibly powerful.

9. Think about the consequences

Creating a product is not easy. It’s just not. They all take time, they create emotional stress, and most of them take money (even small amounts).

Even sites like SnapnDeals, that we started in a weekend, is still something we put work into every week.

You will read all about the upside, the money, the stardom from people and their their products, but you’ll hear very little about the blood sweat and tears that went into them. If you're not ready to put the effort in then do something else until you are.

When you’re ready to commit to the work, then you're ready to start creating products.

It’s just a matter now of which one! But you’ll have to wait to find out about that until tomorrow :)

Darren says: Don't underestimate the work that will be involved in creating a product for your blog. Like Shayne says – it'll take a lot of work. My advice is to try to block out time to do it.For some people that means blocking out a little time each day until it's done (that's how I did my first eBooks), but for others it may mean blocking out larger slabs of time to knock off a lot at once (for example with the writing of my hard cover book I locked myself in a motel room for three days to get one of the bigger sections complete). Don't underestimate the work…however… don't underestimate the upsides either.

Having a product to sell gives you something that has the potential to add a whole new income stream for your business – indefinitely.

Also – if you never try… you'll never know.

Originally at: Blog Tips at ProBlogger

Creating Products Week: Before You Even Think About Creating Products, Think About This

Shoemoney - Skills To Pay The Bills

Mercenary vs. Missionary – What Drives You?

Posted: 31 Mar 2014 07:04 AM PDT

Passion vs. Profits. What drives YOU?

If you follow those tech people in silicon valley, you know they have a big mantra on entrepneurship.

In that quest for business success, people often put themselves in one of two buckets.

Missionary – You’re out to change the world. Mercenary – You’re in it for the kill, the profits, the M/A, and of course, the sale.

According to John Doerr, the VC famous for investing in Google, Netscape, Sun, Amazon, Intuit, etc., the really great companies are led by missionaries, not mercenaries.

Mercenaries are driven by paranoia; missionaries are driven by passion. Mercenaries think opportunistically; missionaries think strategically. Mercenaries go for the sprint; missionaries go for the marathon. Mercenaries focus on their competitors and financial statements; missionaries focus on their customers and value statements.

Mercenaries are bosses of wolf packs; missionaries are mentors or coaches omf teams. Mercenaries worry about entitlements; missionaries are obsessed with making a contribution. Mercenaries are motivated by the lust for making money; missionaries, while recognizing the importance of money, are fundamentally driven by the desire to make meaning.

As Jeff Goldblum said in Jurassic Park, … “THAT IS ONE BIG BILE OF SHIT”.

In fact, if you’re an entrepreneur, do yourself a favor and do NOT take it literally.

Here’s why.

1) They don’t eat their own dog food

If that’s the case, why aren’t these VCs investing into every entrepreneur that knocks on their door and tell them that they’re going to change the world with their latest mobile app/game/social network/platform/SaaS..?

Why? Because they don’t have market traction. And why does market traction matter? Because VCs don’t want to lose money. There is no ROI in losing money. Call me crazy, but that sounds like something mercenaries would do.

Yes I agree to a large extent: company leaders who are focused only on the profits will get just that.. profits. Look at all those shady CPA networks ran by shitheads and morons. They all tanked because all THEY cared about was their margins, never the margins of their advertisers (who pay them) or their affiliates (who run their traffic).

But at the same time, they’re doing a huge dis-service to entrepreneurs who actually believe in all this silicon valley foo-foo mantra that doesn’t serve anyone except those who already made billions.

And if you’re a non-investor funded entrepreneur risking your own money to make your business work, ain’t no amount of ideal vision going to save your business if you don’t know when the next check is coming. If you’re worried about day to day and don’t have a steady salary paying for your basic life needs, you’re NOT thinking long term vision stuff.

I have a wealthy friend who collects art and expensive wine. He asked me why this girl I introduced him to (a really HOT single mother with 2 kids) doesn’t show up to his fundraisers.

Well, no offense bro… it’s because she’s working 2 dead-end jobs to pay for her insanely expensive kids in one of the most expensive cities in US. That’s why. It’s not that poor people don’t like art or philosophizing about life, it’s just that they’re too damn tired at the end of the day to be doing any of this “missionary” things.

Same for entrepreneurs… if you are starving, surviving becomes your #1 passion.

2) Missionary in public. Mercenary behind closed doors.

Sure, in public these Silicon Valley people look like they’re squeaky clean nerds who made billions by sticking to their big visions and dreams.

In private? Sheep in wolf clothing, like Amazon’s Jeff Bezos

Not that anyone from Amazon, including and especially its founder and CEO, Jeff Bezos, would admit to violating the creed described by Doerr, his now-former board member.

As BusinessWeek writer Brad Stone details in The Everything Store: Jeff Bezos and the Age of Amazon, Bezos has built the most mercenary of enterprises — squeezing partners, undercutting competitors, degrading employees — while insisting repeatedly to both internal and external audiences that Amazon fits Doerr’s definition of the missionary business.

No offense to Apple fans, probably the biggest douche of all? Steve Jobs.

His “missionary” vision for Apple in 1980?

“To make a contribution to the world by making tools for the mind that advance humankind.”

I guess he when he said “the world”, he meant all the world except poor Chinese factor workers at Foxconn (company contracted to make Apple products) who were apparently killing themselves by jumping out of their apartments because the working conditions at their factory was so shitty.

Of course, it’s ONLY when the media makes a big fuss that Apple decides to stop turning the blind eye. And let’s not forget all those wonderful lawsuits. Their controversy is so long that they have a whole wikipedia entry on it.

Funny how they became the very THING that they hated so much & grew as a result of that hatred – large corporation that treats people like numbers. Remember that TV commercial where that woman throws a hammer into the screen? It looks like they’re the one who should be receiving that hammer in their face now.

So what are you? Mercenary or missionary?

Amazon, Apple, Google are indeed great companies, but are they really all one sided missionaries? Doubtful.

Personally, I think ALL entrepreneurs are deluded in thinking that they are missionaries. It’s alright, because I am too.

But now I am older and wiser to not give a shit about what people think of me, so I’ll be honest. Yes, I’m in it for the profits, but at the same time, I want to die knowing that my customers and my employees’ lives were better off because of what i did.

It’s not either / or, rather a combination of both that defines success, in my humble opinion.

If you suck at hustling, how do you plan on marketing & selling? Ever try paying your mortgage or rent with your “passion”? YOu can try but i can tell you that you’ll get a passionate kick-in-the-ass eviction. At the same time, if you all care about is profits, who the hell wants to work with you? Nobody.

But what do I know? I ain’t a billionaire.

Yet.

Like I said, what drives YOU? And why?

Share your thoughts in the comment box.

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