Developing Product: Risks and Rewards

We’d all like to bring in more money while we sleep.

Imagine being on vacation and coming home to several thousand in on-line product sales? Sweet!

So what are some of the things we need to think of when developing product and how can we reduce our risk?

Here are a few ideas:

1. Make sure your idea supports your empire. If you are a sales expert then creating products for sales people makes perfect sense. If you tout the use of technology for sales in your presentations, than perhaps you even go as far as developing an iPhone application. (Now you’re really walking your talk).

But if you’re a sales expert thinking about writing a book on aging parents, you might need to re-think. Unless you are a writer by trade, all of your product efforts should support your one expertise.

2. Test your product for saleability. We test everything. Check and see if you developed this product, that people would buy it, and what the perfect price point would be.

The main reason we don’t test things is FEAR. We are afraid to find out that our idea isn’t good.

3. Think in terms of your audience and how they learn best. If your audience is not too technical, then you’ll want to keep it simple. Of course books are usually the product we start with. Does your audience work with eBooks? Or would they prefer a book in their hand? Do your homework and know the best fit.

4. Promotional products are terrific for keeping your speech messages top-of-mind. What poster, thermal mug, screen saver, thumb drive or desk top calendar might work well for your groups?

5. What are some of the new training ideas for keeping your message going after your talk? Many people are developing membership clubs, virtual training modules, podcasts, etc., as an added value to their speech. Clients usually like the idea of keeping the message alive longer than 60 minutes.

When developing products, the risk is that we waste money and end up with a garage full of product that nobody wants. But if you know your market and test your products, you should be reaping the rewards of making money while you sleep!

PS: It may surprise you, but I just happen to have an awesome new MP3 product called The Wealthy Speaker Seminar LIVE. If you liked The Wealthy Speaker book, then you’ll love this career catapulting content. Check out the details. http://www.speakerlauncher.com/WealthyLive.html

Is This Your Year to Write?

I remember one of my speaker buddies telling
me that he was no longer a speaker, he was a
writer.  I thought, ‘cool’.

Most speakers have to write continuously in
order to keep their material fresh.  But then
there are many who write articles and books
in order to continue to advance their
expertise.

Here are a few questions that will help you
move forward with writing – if that is
something that you’ve been wanting to do:

If there has been something holding you back
from writing, how will you move past it?

For most of us, fear that we will suck at it
is probably the reason we don’t take action.
That, and finding the time. But I have found
that the more you write, the better you
become and it’s easier to make time for the
things you enjoy.

Scheduling time in your planner to write is
the best first step you can take.  I
typically alot 2-3 hours per writing session
- after that my brain is fried.

What is one way that you can begin writing on
a smaller scale?

For instance putting out tips, ezines or blog
entries can help condition you for tackling a
bigger project like a book.

Where will you write?

You might think that writing in your office
is a good way to go, but the experts say that
you should find another place all together.
Somewhere that you won’t have household
chores, e-mail or phones to distract you.
Many of you write well on airplanes.  My
preference is a Starbucks that is located in
a bookstore – that way I’m surrounded by
books.  I put on my headphones, crank up
Alisha Keys, and move into my own funky world
of writing.

Who will be your editor?

Behind every great writer is a great editor.
They edit, organize flow, hold you
accountable and push you to write better.
They see things that you don’t.  Find someone
who knows what they are doing and be open.
Being too attached to your material can stunt
the process.

What will your ‘finish’ date for your project
be?

Setting a goal is the first and most
important step.  People with no end dates in
mind can work and re-work books for much
longer than necessary, sometimes years!  Set
that date!

That’s just a few ideas to get you started,
we’ll also talk about writing during our
next teleclass in March (stay tuned for a
date).

Happy Writing!

ps:  My adventure in writing has taken me
down an entirely new path.  Although I will
continue to coach speakers, I have nearly
completed my next book which is a total
departure.  It’s called ‘99 Frogs:  A Three
Step Process to Finding Your Perfect Mate’.
I would love to have you share a story for
this book.  For details go
to www.99Frogs.com