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Keep everything close to your chest, or...?

by Neil Morgan
8 replies
Hi Guys

I'm sure many of us know the feeling you get when you're developing something new. If you're like me, you're bursting to let everyone know about it.

So on one hand, you want to talk about it all day and every day, not least because by doing so, you get great feedback that you can use to make the thing better.

But, wait a minute - the c-o-m-p-e-t-i-t-i-o-n is lurking too, stealing all your ideas and making their product better with your ideas. Or are they?

So what do you do? Talk about it, keep everyone involved then launch a great product, or say nothing and keep everything under wraps until launch, trying some peoples' patience in the process?

Thoughts?

Cheers,

Neil
#chest #close
  • Profile picture of the author myob
    The suspense is what sells. I will be launching several new and exciting products and websites this year, but announcing any details dampens the suspense. Only my members know what is in store for them.
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  • Profile picture of the author Neil Morgan
    Hi Paul

    Only my members know what is in store for them.
    How do you know your competitors aren't lurking amongst them?

    Or is that not an issue for you?

    Cheers,

    Neil
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    • Profile picture of the author myob
      Originally Posted by Neil Morgan View Post


      Only my members know what is in store for them.
      Hi Paul

      How do you know your competitors aren't lurking amongst them?

      Or is that not an issue for you?

      Cheers,

      Neil
      Creating suspense is a marketing tool. Competitors are always welcome to join my membership sites as long as they are willing to pay the hefty subscription fees. I even sell products to my own competitors, because there is more than enough room for everyone. My programmers are always developing new or improvements of existing products. Members are sent release announcements, but I'm not stupid about it.

      For example, one of my projects is to develop a youtube clone. It's not a new idea, but will be better than anything else out there. If competitors want this youtube software, they will be able to buy just like anyone else. It will be sold for an estimated target release price of around $2,000. Any competitors who buy it may of course come out with their own version. But by then, there will a new and improved version, and more products coming out all the time for my members. You just gotta love the competition! Often they give up competing and just decide to JV with me. LOL!
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  • Profile picture of the author MizzCindy
    I'm a 'close to the vest' sort of person. I have a few trusted folks I like to bounce ideas off of to get some feedback, but mostly I keep my stuff under wraps until it's ready for public display.

    There have been a few posts here on the forum discussing the practice of trolling/lurking around the WF to pick up great future product ideas. It definitely happens.

    Cindy
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  • Profile picture of the author Odhinn
    Getting feedback on what you're developing is very handy. I would be somewhat careful of releasing ideas too early, but if you reveal concepts and ask for feedback closer to launch time, you can use that information to make your product better, and you'll be too far ahead of your competition for them to beat you to the punch (hopefully). You should be somewhat careful in what details you reveal though.
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  • Profile picture of the author Sagar Mehta
    Interesting question Neil.

    I usually show whatever I am creating to some close friends online (all internet marketers themselves). I'm pretty sure they won't copy my idea, just like I never copy any of theirs

    Sometimes, however, I have told what I'm doing to more people than I usually would. I assume two things when I do that:

    1. It's one thing to know about an idea, and another to do something with it. I think (or hope at least) that almost no one would actually "act upon" the idea.

    2. Even if someone copies the idea/niche/website, they still can't make the same product as me. Secondly, they aren't going to reach all customers in my market. So there's money to be made for everyone

    "They are not part of my reality" (heard this from Eben Pagan).

    Sagar
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  • Profile picture of the author SlickSki
    I'd say it's definitely not worth the risk of letting other people know what you've got planned until it's completely ready to be revealed. You'll just have to keep it zipped until then!!
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  • Profile picture of the author Neil Morgan
    Some cool answers guys. Thanks.

    There have been a few posts here on the forum discussing the practice of trolling/lurking around the WF to pick up great future product ideas. It definitely happens.
    Very, very true. A few years ago someone here copied my product hook, line and sinker, then changed it a bit, added some bits and pieces. Loads of people here complimented him on it.

    That experience taught me a thing or two.

    On my latest development, I had a bit of a "eureka" moment yesterday and I'm BURSTING to tell everyone. I guess they'll just have to wait

    Cheers,

    Neil
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