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!
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!