My project idea was stolen .. What would you do?

14 replies
Hey fellow Warriors -

Ok. After a long divorce that forced me to have to walk away from everything IM. I am starting all over again. No list, no products, etc. I just couldn't give her half of what she never wanted me to do in the first place.

For about a year now, I have had a couple of ideas planned out to make a very nice sales funnel. At the beginning of the month, I started putting together the plans for my entry level product in this funnel. Last week, I started with the product development. Recently, I found out that a big name marketer is launching a product that is nearly identical to what I had planned for my entry level product.

The situation is that I have some money and a bit of time into this project. I don't want to scrap everything. However, I don't feel like I can put together a product that will come close to the calibur of this other marketer. I say this because of both money and experience in the particular field. My product is based on resarch and some experience, while the other person's is based on both research and much experience.

Mind you, the material for my entry level product is related to, but not tied directly to the other products I want to create. Complementary if you will. I am not sure where to go with the work that I have done. My goal for the entry level product was to build a list and earn some money from oto's, upsells, and downsells. I was then going to use that money to leverage into the other products in the funnel. The next project will cost $500 - 700 to create and the final product will cost $5,000 - 15,000 to create. I have been trying to figure out how to proceed. That is where I ask for your input and experience. Below are some of my thoughts.


If I had a list, I would simply finish the product, become an affiliate of the well-known marketer, and offer my product as a bonus.

Finish the product and sell it as an alternative, cliff notes like version. Unfortunately, I would have to wait until after the other person's launch for this to be effective. That launch is probably a month away and I don't really want to wait that long.

Finish the product and try to $7 script it through JV's with an Oto for plr? I have no substantial contacts, but would be willing to try to find some jv partners. Not really interested in persuing big players right now, but would love to work with some lesser known people.

Finish the product and offer it for free for a limited time with an oto for resell rights. Can I recapture the costs? My total costs for finishing the product would be about $250 - 300.

Stop development at a logical place and offer plr for it. I don't know much about offering plr. I am unsure if I can recapture the costs, let alone profit. My concern with offering plr is that I do not have a list. If other list owners buy it, they will sell it to their list as their own and I will not make enough sales to cover costs, or build enough of a list.

A combination of the above two. Finish the product. Offer it for free for a limited time. Oto the resell rights, upsell the plr rights.


I have one other idea, but I don't want to mention it. If I go throu
gh with it, I want to be one of the first to run with it. It will give me a selling point, fairly unique. Being one of the firsts would be effective, with copycats not so well. I don't want to appear as a copycat for my own idea! Alot of logistics for this idea though.

What are your ideas or your advice?

Thanks in advance!
William

p.s. I know my idea wasn't "stolen". We just happened to persue very similar ideas in the same time frame. It is a product that would be helpful to many many people.

p.p.s. No, the product is not about making money!
#idea #project #stolen
  • Profile picture of the author Tsnyder
    If you really believe the other guy's product is better promote it
    and earn affiliate commissions. Use those commissions to jump
    start your own products to the list you build as an affiliate.

    If you believe your product offers legitimate value proceed with
    your own plans. It's a big old internet... Mr. Big Name Marketer
    can't possibly saturate it.

    Tsnyder
    Signature
    If you knew what I know you'd be doing what I do...
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    • Profile picture of the author Devan Koshal
      "your product/business only had to be 10% better to gain substantial market share" Brian Tracey
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      • Profile picture of the author Kevin Riley
        Have more faith in your own product. Just because the other marketer has a big name doesn't mean they are better than you. If you give up on a project just because there is competition, you'll never get any products to market. There is always competition.

        Consider your USP. What makes you different? What makes you stand out? Where can you do better than the competition? Play to your strong points.
        Signature
        Kevin Riley, Kevin Riley Publishing, Osaka, Japan


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  • Profile picture of the author John Taylor
    Act quickly, get you product out there, use the $7 script
    or RAP to build yourself a targeted list and then be ready
    to promote the big guys product as an affiliate.

    If you grab some share of the market NOW you'll have a
    list of customers.

    John
    Signature
    John's Internet Marketing News, Views & Reviews: John Taylor Online
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  • Profile picture of the author abelacts
    Don't despair, in any market, there are many products that are similar. What you can do is to find your own angle, you don't need to compete head on. You can differentiate yourself in many areas.

    Heck, for argument's sake, even the product is the same, you can still be successful if you market it differently: you have YOUR own list, YOUR own affiliates, YOUR own list of keywords for PPC campaigns, YOUR own article marketing, YOUR....

    Think resellers of physical products such as iphone, electrical appliances...
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  • Profile picture of the author Nathan Denton
    Dont worry too much about it. Go and finish your product, try and tweak it a little to make it even better then go promote it! Im sure you will well (maybe the guy who stole your idea will end up promoting for you!)
    Signature
    Online marketing, offline marketing and various other things.
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  • Profile picture of the author darrenw
    Trust your own work and add a twist that will really make it unique.

    To be honest there are a lot of product out there that are similar...what makes them different is YOU...!!!

    You have the ability and knowledge that no one else has.

    That's a best seller If I ever heard one...!!!
    Signature

    Darren Webb
    Free Honest Reviews

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  • Profile picture of the author Norma Holt
    William, don't give up and put the past behind you. If you believe in your product then get it out there. Not everyone would know of the other guy's. You stand as good a chance as anyone of making it. How close is it to being finished?

    God bless
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  • Profile picture of the author Easy_Money
    Thanks for the responses. I appreciate them. As I get closer to having the project completed, I will look for more ways to put a twist on it, differentiate it, or just launch without worrying about it too much.

    I put a lot of thought into this earlier this week. I let it go for a few days as I attended to some issues offline. Just a little while ago, driving home from the store, I think I may have figured out what I will do. I wasn't thinking about, it just came to me. I realized that while I want to make some money from this to launch my next site, the more important thing is the list that I can use to launch my next one. If need be, I can do an intermediate project (topic unkown), to help fill the gap.

    As a result, this is my preliminary idea.

    I would like some input on this ... if you all don't mind.

    I think I might release a full written version of the product for free.

    I will then sell, as OTO1, a video version and maybe an audio version, and perhaps two small bonus reports. I may try to conduct an interview or two with one or two website owners about the topic. I will make this cheap, like $7 or so. I am thinking that I will offer 100% commission for this.

    For OTO2 I am uncertain. I may sell resale rights to OTO1, with a third OTO for plr. Aternatively, I may offer plr for the OTO2 with a downsell for resale rights.

    If I could figure out how to offer 100% commission with instant pay for OTO1 with a continuity I would. Under continuity I would offer perhaps two interviews and two small reports. Ideas?

    I have another idea for this as well, but I don't have time to type it out right now.

    Any opinions on this though?
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  • Profile picture of the author James Schramko
    Just get it out there!

    I just released a PPC product to the market at a time when everyone was saturated by a big profile Guru release - and you know what - people in that market buy ALL the products. They know that one idea can make back multiples of the investment so my product has taken off!

    The great thing is your friendly guru will be creating a marketing awareness about the topic and identifying prospects for you.

    Post in the main blog on that launch and participate in product reviews for similar products.

    There will also be smart affiliates who know they can add your product as a cheaper alternative or a different perspective. The herd will follow the guru and you can sit alongside the herd and offer a slightly unique path.

    You can still offer your product as a bonus for the other launch if you make it fit together. You can do this without a list, just occupy some SEO space and be where the gossip is with your signature link...

    ** Make an irresistible offer **
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    • Profile picture of the author Dixiebelle
      There were smaller, less expensive editors on the market before Dreamweaver came along, and they are still selling. There is a product and a price range for everyone.

      Your product should be no different. I would go ahead with it.

      When you are in a race, just keep your eyes on the finish line. Never look behind you to see who else is in the race.

      Dixie
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  • Profile picture of the author Glenn Leader
    Actually, having advance notice of your competitors products could
    turn to your advantage. create some VRE capturing the main keywords,
    get indexed as quickly as you can. If there are lots of keywords, don't
    wait, get them done one by one. Chances are, people will be searching
    online once your competitor has launched, so you should mop up some
    extra sales. People will also be looking for cheaper versions, again, to
    your advantage.

    :edit
    Doh, James has posted a similar comment.
    I should learn to read each post properly
    before posting my comments.
    /:edit

    HTH

    Glenn
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    • Profile picture of the author Peter Burke
      Hi William

      Do you know what?

      I'm in the same position as you. I'm creating my own product (the first one) and I know there's competition and competing products and that has just spurned me on to make mine better - more unique.

      I don't care about the competition because use a bit of reverse psychology - you're their competition - are they scared of you? I bet not.

      If your main aim is the getting a list then go for it - compete with the guy - if you make some money (your cost back) and you get a list -think of what you have learnt.

      Just do it!


      Peter
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    • Profile picture of the author James Schramko
      Originally Posted by Glenn Leader View Post

      Actually, having advance notice of your competitors products could
      turn to your advantage. create some VRE capturing the main keywords,
      get indexed as quickly as you can. If there are lots of keywords, don't
      wait, get them done one by one. Chances are, people will be searching
      online once your competitor has launched, so you should mop up some
      extra sales. People will also be looking for cheaper versions, again, to
      your advantage.

      :edit
      Doh, James has posted a similar comment.
      I should learn to read each post properly
      before posting my comments.
      /:edit

      HTH

      Glenn
      Hey I don't mind - the more people supporting forward action the better
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