Creating a Product with a $2,000 Budget

George Chernikov · 04-03-2009, 11:36 AM

Hi all,

I am seriously considering developing my own product in a non-IM market. I haven't decided on one yet, so that's where I need your advice.

As it stands, I can work with a $2,000 budget, $1,000 of which I can spend on advertising and the remainder on attractive design and copy. Obviously, I won't get a top-of-the-line copywriter, but at least someone who can get 1% conversion rates on a $47 product.

Anyway, here's what I'm pretty uncertain about - with a $1,000 budget, should I go mainstream and attempt to go after competitive markets (e.g., weight loss, dating, relationship repair, etc), or should I instead stick with something niche?

I am pretty confident that I will be able to overdeliver with the product no matter what market I'm in - I'm planning to spend at least two months researching and writing the book, so the amount of ground and detail I'm looking to cover is quite substantial. Insofar as I'm concerned, it doesn't matter whether I invest $10,000 worth of my time, because this would be a flagship product that will afterwards generate ongoing income.

George Chernikov · 04-03-2009, 02:51 PM

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Hamida Harland · 04-03-2009, 03:04 PM

Personally I would go for a competitive market - find a new twist on something that's already selling well. Markets such as weight loss, dating etc. are evergreen and you'll have a much better chance of attracting serious affiliates.

JonathanBoettcher · 04-03-2009, 03:14 PM

Well mainstream isn't necessarily bad - but you must find a niche within the mainstream.

For instance, if you want to do something on weight loss - don't just make it about weight loss. Pick a particular method, and go with that. There are so many ways to lose weight, you have to niche down.

I'd agree with Hamida - wherever you find competition it's because there's money there. Probably an easier place to start off at.

cougarstylie · 04-03-2009, 03:23 PM

Go with what you know. If your expertise is in a certain field I recommend starting their regardless of your budget.

Charles Washington · 04-03-2009, 03:36 PM

Quote:

Originally Posted by cougarstylie

Go with what you know. If your expertise is in a certain field I recommend starting their regardless of your budget.

DO NOT go with what you know... Go with what YOU KNOW will sell.

Come on, if you are going to sink a grand into this project, find a niche where you can make your money back.

Do some research, or budget some of your money into hiring a person to find a niche/subniche that needs a product.

Make sure you are creating your product in an area where there is a great need and a great audience.

04-03-2009, 11:36 AM	#1
George Chernikov Gordon Gekko, Jr. Join Date: Jan 2007 Location: Geneva, Switzerland Posts: 827 Thanks: 80 Thanked 49 Times in 24 Posts Social Networking Contact Info	Creating a Product with a $2,000 Budget - Niche or Mainstream? Hi all, I am seriously considering developing my own product in a non-IM market. I haven't decided on one yet, so that's where I need your advice. As it stands, I can work with a $2,000 budget, $1,000 of which I can spend on advertising and the remainder on attractive design and copy. Obviously, I won't get a top-of-the-line copywriter, but at least someone who can get 1% conversion rates on a $47 product. Anyway, here's what I'm pretty uncertain about - with a $1,000 budget, should I go mainstream and attempt to go after competitive markets (e.g., weight loss, dating, relationship repair, etc), or should I instead stick with something niche? I am pretty confident that I will be able to overdeliver with the product no matter what market I'm in - I'm planning to spend at least two months researching and writing the book, so the amount of ground and detail I'm looking to cover is quite substantial. Insofar as I'm concerned, it doesn't matter whether I invest $10,000 worth of my time, because this would be a flagship product that will afterwards generate ongoing income.
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04-03-2009, 02:51 PM	#2
George Chernikov Gordon Gekko, Jr. Join Date: Jan 2007 Location: Geneva, Switzerland Posts: 827 Thanks: 80 Thanked 49 Times in 24 Posts Social Networking Contact Info	Re: Creating a Product with a $2,000 Budget - Niche or Mainstream? I hate bumping - but anyone?
	!===> Start thinking better with Cognissimo <===!

04-03-2009, 03:04 PM	#3
Hamida Harland Senior Warrior Member War Room Member Join Date: Feb 2007 Location: UK Posts: 2,031 Thanks: 535 Thanked 255 Times in 193 Posts	Re: Creating a Product with a $2,000 Budget - Niche or Mainstream? Personally I would go for a competitive market - find a new twist on something that's already selling well. Markets such as weight loss, dating etc. are evergreen and you'll have a much better chance of attracting serious affiliates.
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04-03-2009, 03:14 PM	#4
JonathanBoettcher Compulsive Clicker War Room Member Join Date: Oct 2008 Location: Abbotsford, BC Posts: 548 Thanks: 16 Thanked 53 Times in 31 Posts Social Networking	Re: Creating a Product with a $2,000 Budget - Niche or Mainstream? Well mainstream isn't necessarily bad - but you must find a niche within the mainstream. For instance, if you want to do something on weight loss - don't just make it about weight loss. Pick a particular method, and go with that. There are so many ways to lose weight, you have to niche down. I'd agree with Hamida - wherever you find competition it's because there's money there. Probably an easier place to start off at.
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04-03-2009, 03:23 PM	#5
cougarstylie Warrior Member Join Date: Apr 2009 Location: Colorado Posts: 19 Thanks: 0 Thanked 1 Time in 1 Post	Re: Creating a Product with a $2,000 Budget - Niche or Mainstream? Go with what you know. If your expertise is in a certain field I recommend starting their regardless of your budget.
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