Product Creation...Pah! What about MARKET creation!!

Himore · 12-01-2008, 05:00 PM

Hi all.

I'm typing as I think here, so bear with me...

Everyone talks about product creation and that's the way to go if you want the six-figure income (most) people dream about. I say most, because I'm sure some of you pros on this forum couldn't take the pay cut.

What about creating a new MARKET though...?

Let me give you a couple of examples:

Example 1
Many many years ago, people used to go to the circus. They'd love the elephants doing the tricks on large balls, gasp in amazement at people on the high wire and roll in the aisles at clowns with spinning bow ties...

Then people's tastes changed. We didn't think it kind to have animals on tour, caged up and made to do tricks. The circus industry dwindled and all but disappeared.

Then in 1984, two former street artists - Guy Laliberté and Daniel Gauthier - founded the Cirque du Soleil. It was a 'circus' like nobody had seen before. No ring. No animals. Based on themes, musical scores created specially for the shows.

Tickets get snapped up in minutes whenever the dates are announced. They attract audiences of all demographics, that would have never have gone to a traditional circus.

Example 2
Playstation 1, Xbox, Playstation 2, Xbox 360, Playstation 3....

Sony and Microsoft have built some awesome gaming machines between them. Today's gaming platforms are so powerful you can have in-game graphics and sound that would have only been possible in Hollywood movies a few years ago. They compete on CPU power, chipsets, graphics, sound... everything at the pinnacle of technical possibilities.

Now... Nintendo...

They put out this little box of tricks called the Wii. People initially laughed when they saw the graphics alongside the Xbox and PS gaming beasts. WHY on earth would someone want to buy something so BASIC and simple when you could have awesome power.

But they did buy. And they bought in their millions. They weren't just your typical gamer either.

People were buying the Wii that WOULD NEVER HAVE EVEN THOUGHT ABOUT BUYING A GAMING CONSOLE. Mums, dads, aunties, uncles, young children. Nintendo opened up gaming to a completely new market.

THEY CREATED THE MARKET.

Which brings me to the IM market. People selling the typical IM products traditionally target people who want to do IM selling IM products... it's a circle.

But what could be done to 'tweak' these products to create a new market....

I don't have the answer, but I thought I'd throw it open to get some thoughts.

Mary Green · 12-01-2008, 05:03 PM

You mean targetting certain niches or something like that. Like Teens Can DO This to Make Money. Stay at home dads can make money doing this?

Or am I completely off?

Mary

Himore · 12-01-2008, 05:16 PM

Quote:

Originally Posted by Mary Green

You mean targetting certain niches or something like that. Like Teens Can DO This to Make Money. Stay at home dads can make money doing this?

Or am I completely off?

Mary

What about going even further than that. To me, that is like Sony targeting a new game at a particular existing niche. Nintendo went much further and got people buying the console that were not even in the existing market.

They made it not so much about playing the game, but more about getting people together and socialising. They created a new controller to make it easy for people to play games, so much so that it didn't feel like they were 'gaming'.

All the IM products I have seen are about making money. Obviously to my mind.

But, are there people/groups out there that could benefit from the techniques and skills we use in IM, but actually their main driver is not to make money, but to achieve some other goal?

I know it's hard to imagine that there are people who prime objective is not to make money, just like I'm sure it was hard for Sony and Microsoft to imagine that people wouldn't necessarily want the most powerful gaming consoles money could buy...

adamv · 12-01-2008, 05:31 PM

Creating a market where none currently exists is waaaaayyyyyy risky. You could put in a ton of work and learn that you are the only one that thinks your great idea is great.

It's much easier to go into an existing market of people that are proven buyers for a certain type of product and then figure out a way to get yourself some of the action.

I'm not trying to discourage anyone from chasing a dream that they are passionate about but it sure is easier to sell what people are looking for rather than to convince people that they need something they've never even heard of.

Himore · 12-01-2008, 05:39 PM

Quote:

Originally Posted by adamv

Creating a market where none currently exists is waaaaayyyyyy risky. You could put in a ton of work and learn that you are the only one that thinks your great idea is great.

It's much easier to go into an existing market of people that are proven buyers for a certain type of product and then figure out a way to get yourself some of the action.

I'm not trying to discourage anyone from chasing a dream that they are passionate about but it sure is easier to sell what people are looking for rather than to convince people that they need something they've never even heard of.

I absolutely agree. It is extremely risky as you say.

But... if you have the will, the knowledge and resources to do something like this, then YOU WOULD OWN THAT NEW MARKET.

I'm shooting an idea that's above my level at this moment in time, but it was just to give food for thought...

Himore · 12-01-2008, 05:43 PM

Quote:

Originally Posted by mlandmark

Ever heard of a book called Blue Ocean Strategy (it's been popular since 2005), you pretty much gave the exact examples in the book.

I haven't, but the Cirque du Soleil bit came out of a discussion I had with a colleague a couple of years ago before the Wii launched (so perhaps they'd read the book).

Then when Nintendo launched that, I recalled the conversation I'd had because they had achieved exactly the same thing.

Ebbi · 12-01-2008, 06:04 PM

I understand what you mean!

This is like sample #1
You see few years back the first and only social network
out there was creating your own blog. It's a simple idea
where you post articles and thoughts about life so your
friends could check up on you and write a comment or in
your guest book.

People started to lose interest in this way of communicating
and the funny thing was that these simple guestbooks
where turned into mini social networks where people stopped
posting blogs and only used the guestbooks to shot short
messages to one another in a fast and simple way!
(You could say this is like when people didn't want to see animals
being hurt and tortured. People didn't find it amusing anymore and
without knowing it wanted to see something different)

So one day MySpace was created!!! something totally unique.
BUT, if you think about it the creator of MySpace "Tom Anderson"
just did a fancy looking guestbook where everyone could get their
own guestbook on the same server bringing everyone together.

There was someone with a totally new idea. This simple but
powerful script is now a niche and it's simple called MySpace!
We have all heard of MySpace marketing where people are
spamming, cookie stuffing, bands selling their cd's, people making
templates only for myspace and selling them, etc...............

This is happening all around us you just have to look for it.

Youtube
Digg
Facebook
Wordpress
etc...

These started out as simple scripts that turned into it own niche.
---------

I think this is what you mean

Ebbi

adamv · 12-01-2008, 06:22 PM

Quote:

Originally Posted by Himore

I absolutely agree. It is extremely risky as you say.

But... if you have the will, the knowledge and resources to do something like this, then YOU WOULD OWN THAT NEW MARKET.

I'm shooting an idea that's above my level at this moment in time, but it was just to give food for thought...

If you have the means and the desire, then absolutely go for it.

I think people should first focus on what's proven to work and build up a nice passive income then they will have the free time and the start up capital to go after a whole new market if that's what they want to do.

colmodwyer · 12-01-2008, 06:31 PM

For every invention that's successful, there are a million that flop. Those are the odds you're playing against trying to create something new...

It's not impossible, just highly improbable.

Colm

Jeff B · 12-01-2008, 08:16 PM

Eben Pagan teaches that you should create your own category. It worked pretty well for him.

ripsnorta2 · 12-01-2008, 08:53 PM

Being the first to market is not always the best strategy. There are a lot of examples where the first company to market a new concept product has not only not done well, but failed when their competitor enters the game.

Look at Apple. They were the first to commercialise a windows style operating system (not the first to invent.) Yet they were out-manuevered by Microsoft who are still the biggest windowed OS vendor. And... it was looking pretty shakey for Apple for a while too.

Sometimes it's best to let someone else be the first, learn from their mistakes, and then do better.

PS. I should also say your game console example isn't entirely accurate.

Nintendo do very well with the family friendly games. There are few if any mature or MA content games on the Wii. On the other hand, the XBox 360 focusses on games that are far more mature. You wouldn't find Gears of War, or GTA on the Wii. The PS sits more in the middle, which might explain why it isn't doing as well as the other two. Gaming has many sub-niches.

12-01-2008, 05:03 PM	#2
Mary Green Mary Green Copy & Content War Room Member Join Date: Feb 2007 Location: Central NY USA Posts: 2,151 Thanks: 49 Thanked 74 Times in 56 Posts Social Networking Contact Info	Re: Product Creation...Pah! What about MARKET creation!! You mean targetting certain niches or something like that. Like Teens Can DO This to Make Money. Stay at home dads can make money doing this? Or am I completely off? Mary

12-01-2008, 05:31 PM	#4
adamv Senior Warrior Member War Room Member Join Date: Oct 2007 Location: Sacramento, CA, USA. Posts: 1,111 Thanks: 165 Thanked 239 Times in 139 Posts	Re: Product Creation...Pah! What about MARKET creation!! Creating a market where none currently exists is waaaaayyyyyy risky. You could put in a ton of work and learn that you are the only one that thinks your great idea is great. It's much easier to go into an existing market of people that are proven buyers for a certain type of product and then figure out a way to get yourself some of the action. I'm not trying to discourage anyone from chasing a dream that they are passionate about but it sure is easier to sell what people are looking for rather than to convince people that they need something they've never even heard of.
	Powerful Backlinks - Affordable Prices - We will write, spin and submit articles to the best blog network on the internet while you watch your sites shoot to the top of the rankings. PLR Article Packs - Keyword Researched Seo Friendly Articles. Limited to 65 copies. Currently available packs "Fat Burning" and "Quit Smoking."

12-01-2008, 06:04 PM	#7
Ebbi HyperActive Warrior War Room Member Join Date: Mar 2007 Location: Here! Posts: 412 Thanks: 41 Thanked 209 Times in 19 Posts	Re: Product Creation...Pah! What about MARKET creation!! I understand what you mean! This is like sample #1 You see few years back the first and only social network out there was creating your own blog. It's a simple idea where you post articles and thoughts about life so your friends could check up on you and write a comment or in your guest book. People started to lose interest in this way of communicating and the funny thing was that these simple guestbooks where turned into mini social networks where people stopped posting blogs and only used the guestbooks to shot short messages to one another in a fast and simple way! (You could say this is like when people didn't want to see animals being hurt and tortured. People didn't find it amusing anymore and without knowing it wanted to see something different) So one day MySpace was created!!! something totally unique. BUT, if you think about it the creator of MySpace "Tom Anderson" just did a fancy looking guestbook where everyone could get their own guestbook on the same server bringing everyone together. There was someone with a totally new idea. This simple but powerful script is now a niche and it's simple called MySpace! We have all heard of MySpace marketing where people are spamming, cookie stuffing, bands selling their cd's, people making templates only for myspace and selling them, etc............... This is happening all around us you just have to look for it. Youtube Digg Facebook Wordpress etc... These started out as simple scripts that turned into it own niche. --------- I think this is what you mean Ebbi
	Newbie -- Read This!

12-01-2008, 06:31 PM	#9
colmodwyer Raider Of The Lost Fart War Room Member Join Date: May 2006 Location: Baltimore, MD Posts: 1,534 Thanks: 43 Thanked 140 Times in 79 Posts	Re: Product Creation...Pah! What about MARKET creation!! For every invention that's successful, there are a million that flop. Those are the odds you're playing against trying to create something new... It's not impossible, just highly improbable. Colm

12-01-2008, 08:16 PM	#10
Jeff B HyperActive Warrior Join Date: Oct 2008 Location: United States Posts: 114 Blog Entries: 2 Thanks: 42 Thanked 12 Times in 10 Posts	Re: Product Creation...Pah! What about MARKET creation!! Eben Pagan teaches that you should create your own category. It worked pretty well for him.
	"Give every man more in use value than you take from him in cash value; then you are adding to the life of the world by every business transaction." - Wallace D. Wattles

12-01-2008, 05:00 PM	#1
Himore HyperActive Warrior War Room Member Join Date: May 2007 Location: , , United Kingdom. Posts: 150 Thanks: 1 Thanked 7 Times in 7 Posts Contact Info	Product Creation...Pah! What about MARKET creation!! Hi all. I'm typing as I think here, so bear with me... Everyone talks about product creation and that's the way to go if you want the six-figure income (most) people dream about. I say most, because I'm sure some of you pros on this forum couldn't take the pay cut. What about creating a new MARKET though...? Let me give you a couple of examples: Example 1 Many many years ago, people used to go to the circus. They'd love the elephants doing the tricks on large balls, gasp in amazement at people on the high wire and roll in the aisles at clowns with spinning bow ties... Then people's tastes changed. We didn't think it kind to have animals on tour, caged up and made to do tricks. The circus industry dwindled and all but disappeared. Then in 1984, two former street artists - Guy Laliberté and Daniel Gauthier - founded the Cirque du Soleil. It was a 'circus' like nobody had seen before. No ring. No animals. Based on themes, musical scores created specially for the shows. Tickets get snapped up in minutes whenever the dates are announced. They attract audiences of all demographics, that would have never have gone to a traditional circus. Example 2 Playstation 1, Xbox, Playstation 2, Xbox 360, Playstation 3.... Sony and Microsoft have built some awesome gaming machines between them. Today's gaming platforms are so powerful you can have in-game graphics and sound that would have only been possible in Hollywood movies a few years ago. They compete on CPU power, chipsets, graphics, sound... everything at the pinnacle of technical possibilities. Now... Nintendo... They put out this little box of tricks called the Wii. People initially laughed when they saw the graphics alongside the Xbox and PS gaming beasts. WHY on earth would someone want to buy something so BASIC and simple when you could have awesome power. But they did buy. And they bought in their millions. They weren't just your typical gamer either. People were buying the Wii that WOULD NEVER HAVE EVEN THOUGHT ABOUT BUYING A GAMING CONSOLE. Mums, dads, aunties, uncles, young children. Nintendo opened up gaming to a completely new market. THEY CREATED THE MARKET. Which brings me to the IM market. People selling the typical IM products traditionally target people who want to do IM selling IM products... it's a circle. But what could be done to 'tweak' these products to create a new market.... I don't have the answer, but I thought I'd throw it open to get some thoughts.

12-01-2008, 08:53 PM	#11
ripsnorta2 HyperActive Warrior War Room Member Join Date: Aug 2008 Location: Adelaide, South Australia Posts: 327 Thanks: 54 Thanked 23 Times in 18 Posts Contact Info	Re: Product Creation...Pah! What about MARKET creation!! Being the first to market is not always the best strategy. There are a lot of examples where the first company to market a new concept product has not only not done well, but failed when their competitor enters the game. Look at Apple. They were the first to commercialise a windows style operating system (not the first to invent.) Yet they were out-manuevered by Microsoft who are still the biggest windowed OS vendor. And... it was looking pretty shakey for Apple for a while too. Sometimes it's best to let someone else be the first, learn from their mistakes, and then do better. PS. I should also say your game console example isn't entirely accurate. Nintendo do very well with the family friendly games. There are few if any mature or MA content games on the Wii. On the other hand, the XBox 360 focusses on games that are far more mature. You wouldn't find Gears of War, or GTA on the Wii. The PS sits more in the middle, which might explain why it isn't doing as well as the other two. Gaming has many sub-niches.
	Cheers, John