Why did you developing your own product?

by David_Thompson 36 replies
Plain and simple what was the main reasons
you started developing your own products
whether outsourcing or created yourself?

What has it done for you?

I would love to get warriors feedback on this cheers guys..

--David
#main internet marketing discussion forum #developing #product
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  • Profile picture of the author Jason Johns
    Hi David,

    Having my product means that I get affiliate sending me traffic. It means that I build a list of buyers who then I can sell my backend products to. It means that I am creating virtual real estate that I could, if I wanted, sell in the future.

    Affiliate marketing is great but it's much nicer when you've got those affiliates working for you

    All the best

    Jason
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    • Profile picture of the author Ernie Lo
      What He said^

      Jason pretty much summed up my exact reasons. It's just smart busienss sense. You can be an affiliate for someone elses product (which can be nice) but it's also good to have your own product too and concentrate on attracting affiliates.
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      • Profile picture of the author Roy Carter
        Well David, I had a lightbulb moment some time ago and realised that the people making the real money all had one thing in common. They all had their own products.

        Look at 99% of 'super affiliates'. How many of them have their own products?

        What has it done for me?

        It got me out of the debt I was in. It allowed me to take great holidays. It allowed me to move to a mediteranean island to live (instead of rainy old UK). It allowed me to be invited on stage at the World Internet Summit earlier this year. And it allowed me to help others by teaching them exactly how I did it.

        Having your own products is a must IMHO.

        Roy
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        • Profile picture of the author David_Thompson
          Originally Posted by Roy Carter View Post

          Well David, I had a lightbulb moment some time ago and realised that the people making the real money all had one thing in common. They all had their own products.

          Look at 99% of 'super affiliates'. How many of them have their own products?

          What has it done for me?

          It got me out of the debt I was in. It allowed me to take great holidays. It allowed me to move to a mediteranean island to live (instead of rainy old UK). It allowed me to be invited on stage at the World Internet Summit earlier this year. And it allowed me to help others by teaching them exactly how I did it.

          Having your own products is a must IMHO.

          Roy
          Roy, that's one helluva reason to create your own
          product thanks for the feedback man.

          I was just over in London for a week visiting my little
          brothers the weather was really good it only rained
          one day...

          So having your own product help you to live and create
          the sort of lifestyle you always wanted...

          --David
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          • Profile picture of the author jhongren
            As marketers, we have to constantly scale our business. And creating our own products can scale our business and bring in more income from another source.

            With own products, come new opportunities such as JV, affiliate partners, ad swaps, JV contests, JV giveaways and so on. =)

            It is an exciting journey ahead!

            Cheers,
            John
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            • Profile picture of the author Andyhenry
              Reason for making own products = You can create exactly what YOUR research shows that the market you can access want (how, where and when they want it).

              Anything from someone else could've been made for 'different' reasons so why sell something that you don't know why/how it was created.

              Providing a hungry market with the right product is the basis of making money so why wouldn't you want to make sure you had the best solution possible?

              When I used to only sell other peoples products my highest commission level was $500.

              My highest ticket product of my own is $100,000 - and no-one else gets a cut before the payment comes.

              Andy
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              • Profile picture of the author sknollii
                It really comes down to the same thing online or off.

                Do you want to be the boss or work for someone else?

                Andy hit on a key element. As the product owner, you get paid first.

                Generating money off of other people's products is great, but the most money will generally be made by the product owner.

                Look at it in offline terms (same idea):

                A chef can make OK money getting paid to work for a restaurant.

                A chef/owner can make pretty good money (if not very good) running their own shop.

                A chef finally makes real money when they sell their restaurant.

                You can't sell the restaurant if you don't own it.

                Food for thought

                Sam
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                • Profile picture of the author Roy Carter
                  Andy - You have a $100,000 product?!! Sheesh. You've made me feel like i'm really slacking off now!

                  Roy
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                  • Profile picture of the author Andyhenry
                    Originally Posted by Roy Carter View Post

                    Andy - You have a $100,000 product?!! Sheesh. You've made me feel like i'm really slacking off now!

                    Roy
                    Hi Roy,

                    Don't worry - it's not a competition

                    BTW, that's just the front end sale price - they almost always pay for upgrades and enhancements too

                    Andy
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                    • Profile picture of the author Tristan Bull
                      I started developing my own products because there is more money in selling your own stuff.

                      What has it done for me? Made me more money
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                      • Profile picture of the author joshbond
                        You can really only go so far with pushing other peoples products. Once you get into making your own products though the sky is the limit.
                        Its really just the next step in the natural progression of any successful marketer.
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                        • Profile picture of the author jhongren
                          Originally Posted by joshbond View Post

                          You can really only go so far with pushing other peoples products. Once you get into making your own products though the sky is the limit.
                          Its really just the next step in the natural progression of any successful marketer.
                          Hi Josh, what you said is true = progression.

                          Business needs to progress and scale.

                          There can be many type of products in the market and do include with services too.

                          This is how a business grow.

                          Cheers,
                          John
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                    • Profile picture of the author David_Thompson
                      Originally Posted by Andyhenry View Post

                      Hi Roy,

                      Don't worry - it's not a competition

                      BTW, that's just the front end sale price - they almost always pay for upgrades and enhancements too

                      Andy
                      Hey Andy,

                      I need to be selling what you're selling mate...lol

                      $100.000 damm and that's just the frontend...WOW

                      --David
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                • Profile picture of the author sknollii
                  One more thought worth considering is purchasing the license to sell someone else's product.

                  Still not as good as being the product owner but a step better.

                  Sam
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                  • Profile picture of the author BIG Mike
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                    • Profile picture of the author sknollii
                      Good point Mike.

                      I develop and sell many of my own products as well as promote some products as an affiliate and do sell some products I get through a membership concept called Incansoft .

                      I have also done a lot of copywriting for clients. A good example of good upfront money, but unless you can work in a residual payment aspect it is a one-off thing.

                      I remember Paul Myers telling me the best way to make money writing copy was to do it for your own products.

                      Sam
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                      • Profile picture of the author David_Thompson
                        So far there has been some awesome points
                        coming through but is that really it...

                        I love the idea of creating something that
                        helps the user get what they want but at
                        the sametime it also helps me because I can
                        use it as leverage in other business deals.

                        --David
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                        • Profile picture of the author Josh Anderson
                          I started developing my own products because I wanted to do things no other product could help me do.

                          Every product I create is an innovation, something new, something exciting, something that enhances my online publishing. Once I am satisfied with it I then offer it to the public.

                          When I released my first software product a few years back I had my first five figure day and generated $17k in one day. Something magical happens when you have your first 5 figure day...

                          There is no looking back because nothing is as rewarding than floods of sales coming in from satisfied return customers on a digital product that can be automatically delivered.

                          I recently spoke from the stage at the premiere trade show in one of my niches. Additionally that trade show is delivering their premium content through the platform I created.

                          It is satisfying to know that when the top trade show for your niche looks for a solution they come to you.

                          What is even more satisfying is that I am watching thousands of publishers use my solutions to earn millions of dollars online as well as deliver content to millions and millions of internet users.

                          I love to work with people and help them succeed and its great providing real solutions that people use in their business consistently year after year to boost their income and grow their business... that to me is the most satisfying part of creating and providing products and services to the online world.

                          I also enjoy the social interactions and associations and new friends and partners I make around the world.
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                          • Profile picture of the author dbh
                            In addition to most of what has been said above, I develop my own products because I really enjoy doing it. To be totally honest, I'm not a very good marketer at all. But I am good at product creation, and I get a special feeling everytime someone else likes and can use something I did . Thanks for asking, good post.....

                            - Darrell

                            >EDIT< Forgot the what has it done for me. Well, it has made for me a livable income and given me the sense of pride and accomplishment that only comes with creating your own stuff....
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                          • Profile picture of the author drr
                            I've created quite a few unique products. In my view here's what your own online product brings:

                            1. For free products: Assuming you create high quality information products, and issue giveaway rights to them, it's a great source of viral traffic.

                            2. Ideally, I'll include 2 links in each free viral book - one to my main (paid) product/service and another to my opt in newsletter form. The result is, more sales and more subscribers pretty much on autopilot.

                            3. Any product, free or paid, is branded with your name (or business name) - you're therefore seen as an expert in the eyes of the reader. That builds credibility & trust which are pretty important things for success.

                            4. A paid product/service that's unique will keep bringing in sales as long as it is marketed correctly. I've had products created as early as 2003 that are still generating revenues today. Usually, you can update them every year to keep them current.

                            5. Your own unique content is always better than promoting an affiliate product. With your own product you can get JV partners & affiliates, you can issue rights as you wish and use them as leverage in any way you choose.

                            I'd highly recommend everyone to have their own unique product.
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                            • Profile picture of the author mdunn123
                              I just wanna hang with the big boys and girls
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            • Profile picture of the author sesantek
              Originally Posted by jhongren View Post

              As marketers, we have to constantly scale our business. And creating our own products can scale our business and bring in more income from another source.

              With own products, come new opportunities such as JV, affiliate partners, ad swaps, JV contests, JV giveaways and so on. =)

              It is an exciting journey ahead!

              Cheers,
              John
              You are correct. it opens lots of opportunities.

              I am happy when i do this because by doing that i am showing the world that i am a problem solver.It also give you the opprtunity to meet lots of new people online and offline

              sesan
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              • Profile picture of the author Simplweb
                Several reasons, some have already been touched on, but worth repeating....

                1. Having your own product means a sustainable business. You are not totally dependent on others
                2. Its possible to get greater revenue from your own products
                3. Its easier to get an income from affiliate work when you have your own product that establishes your credibility (trust factor mentioned above)
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                • Profile picture of the author jhongren
                  I know some Internet Marketer does it out of fun or kick. There are already earning lots of money and just like to build their own product just to pass time and prove they still can do something more.

                  John
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                  • Profile picture of the author David_Thompson
                    Originally Posted by jhongren View Post

                    I know some Internet Marketer does it out of fun or kick. There are already earning lots of money and just like to build their own product just to pass time and prove they still can do something more.

                    John
                    John, there's another side to this you'll find
                    a number of people that are very good product
                    developers but they are stink when it comes
                    to marketing so they just continue creating
                    and never releasing anything...

                    --David
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                    • Profile picture of the author jbsmith
                      4 Main Reasons...

                      1. Control - once I have my own products, my business isn't dependent on anyone else. We've come across products before that have been taken off the market, discredited, change their commission structure or just plain take it off the market - I would not want 100% of my income dependent on someone else.

                      2. Leverage - I create it once and sell it forever (or pretty darned near). I've had one of my courses online now for 8+ years, each year I spend a day or two updating it and wham...it's still a great product.

                      3. I build more equity in my business. Let's say you build a 100K/yr business marketing your own infoproducts - your business could be sold for 3-5 times that amount and give you a great return on your effort (or emergency money if you need it). If you build a 100K/yr business affiliate marketing or built on advertising - unless you have a beloved brand, you won't be able to get near those types of multiples.

                      4. I want an army of affiliates selling MY products for me so I can gain the passive income rather than setting a business up where I am totally dependent on being one of the many other soldiers selling someone else's products.

                      That said - there is a place for making money in other ways - my income is split between my own products (majority), affiliate marketing, advertising and consulting.

                      Jeff
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      • Originally Posted by Ernie Lonardo View Post

        What He said^

        Jason pretty much summed up my exact reasons. It's just smart busienss sense. You can be an affiliate for someone elses product (which can be nice) but it's also good to have your own product too and concentrate on attracting affiliates.
        Correct. BTW, I actually do both. It doesn't hurt to have multiple streams of income.

        Arindam
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    • Profile picture of the author Barry Plaskow
      Affilaite marketing is a great place to start but you need to build yourself up as a marketer in your own right.

      That only comes with making your own products.This in turn helps with making more affiliate money as people will relate to you more and trust you more.

      Of course that is dependent on creating real products that help people.

      Barry Plaskow
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      • Profile picture of the author TOPGUN08
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        • Profile picture of the author lakshaybehl
          Positoning and branding!

          yourself as an expert.

          Thats one.

          And there are others that all others have mentioned
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          • Profile picture of the author David_Thompson
            Something hit me yesterday I was at the hospital
            with my little daughter who had surgery on her
            tonsils, it went ok...

            But what I realize sitting there is the fact that I
            didn't need to go ask my boss for time off or take
            a sick day to be with my little girl...

            The real reason for this is the fact that I run my
            own business and have my own product line of
            product i created which give me the leverage
            to do what ever I want in life.

            Anyway the little one is home now and doing better...

            --David
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            • Profile picture of the author BuddyT
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              • Profile picture of the author David_Thompson
                Originally Posted by BuddyT View Post

                Sorry to hear that David.

                As I asked in a previous post, how many of you make significant income off NON-IM products?
                Hey buddyT,

                Thanks bro...

                I've only really worked in the IM field
                so can't really answer that one but
                I do know a few others in this thread
                that work in other areas that can shed
                some light on this for you.

                --David
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  • Profile picture of the author martinkeens
    IMO, having your own product puts you on a different playing field. You can reach so many more people because you are marketing to both buyers and sellers (if you are using affiliates). Also, until you feel like selling resale rights, you're the only game in town for that product. Even if you have affiliates, everyone still goes through you.
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  • Profile picture of the author Rod Cortez
    Originally Posted by David_Thompson View Post

    Plain and simple what was the main reasons
    you started developing your own products
    whether outsourcing or created yourself?

    What has it done for you?

    I would love to get warriors feedback on this cheers guys..

    --David
    More control, flexibility, and profits.
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    "Your personal philosophy is the greatest determining factor in how your life works out."
    - Jim Rohn
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    • Profile picture of the author David_Thompson
      Rod, you're so right man I love the fact that
      I control what happens with my product and
      the profit margins is awesome 100%...

      --David
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  • Originally Posted by David_Thompson View Post

    Plain and simple what was the main reasons
    you started developing your own products
    whether outsourcing or created yourself?
    Many reasons:

    1. Sometimes I create a product because I'm dissatisfied with the existing ones. My plr products are case in point

    2. Sometimes I do it because I love the very thought of sitting on my a** while making my affiliates do the grunt work of promotion :p

    3. Sometimes I do it because I feel there is a need for something like that in the market

    4. Sometimes it is just to let off a little steam

    Arindam
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  • Profile picture of the author TheRichJerksNet
    To me it would be the same reason why I build all my websites from 100% scratch and never, ever, never use free open source code. Everything I build from the ground up because it gives me more control over what the site will do, what functions it will have and at the same time I can control the quality which means I can easily add in security to make the site hacker free, injection free, block bad-bots, and etc..

    Product creation would be the same such as building a php script for a website. The bottom line would be I fully control the "Quality" of the product I deliver.

    This is by no means a bash on free open source code, but I do prefer everything coded from scratch, that's just me

    James
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  • Profile picture of the author dorothydot
    Originally Posted by David_Thompson View Post

    Plain and simple what was the main reasons
    you started developing your own products
    whether outsourcing or created yourself?

    What has it done for you?

    I would love to get warriors feedback on this cheers guys..

    --David

    I am a copywriter. But marketing myself as the answer to someone's bottom-line comes hard.

    So I decided to create a product I deeply believe in - and market that. That comes easy! I love knitting, crocheting, tatting - I can sell these skills to others ver-ry well indeed. Want to reduce stress? Want to show someone your deep and abiding love? Feel like creating a unique treasure?
    Learn to knit with Aunt Dot!

    It is the path that comes naturally to me. I want so much to help. But I need to help others according to the gifts, the talents that God gave me.

    Make sense?
    Dot
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