Idea: Make a product for someone's list? Yes, No?

I'm a newbie when it comes to internet marketing but not computer programming and graphics design.

I've learned a few things about internet marketing so far. You may disagree with my assessment of the below and thats fine, its just my humble opinion.

1.) PPC is expensive, overcrowded and just won't make you money!
2.) SEO is a game of luck and chance!
3.) Make a blog? How will people find my site? Again luck that it is even ranked in SEO or found.
4.) Pay people on Fiverr to hand out flyers for products? (Still trying, but no luck so far, and not very passive).
5.) Craigslist to sell products? (Nope, get banned and flagged)
6.) Write blog with content and then use PPC? (Nope, Conversions not good enough by the time you get a sale.)

Seems everything I've tried has failed. There is only one thing left that every person who seems to be wealthy on here has in common. That is their list!

Therefore my idea is to partner with someone with a list?

Well so far those attempts have failed. I think for the reasons below.

1.) I don't have a list of my own, therefore I have nothing to offer them.
2.) They already have tons of products they can sell to their list, or at least some of them do.

What I want to do is be a true entrepreneur and talk to someone's subscribers, at least 100 and interview them to learn more about them and their problems/concerns. Only by solving a problem or concern will I have the potential to have a product that can sell to the rest of the list.

The concept is simple.

1.) Interview 100 people from a subscribers list saying I'm an entrepreneur developing new products and would like to learn more about what they would want me to develop. In doing so, if I decide to make the product you want you will have first grabs at it and a heavy discount.

2.) Look for a common problem among the subscribers, a problem they all seem to share in common. If the subscribers are a very well targeted niche they should have similar problems.

3.) Propose a solution to this problem and find out if they would pay for it, and if so how much? Then I analyse if I can solve the problem in a cost effective manner and ideally through software.

4.) If so, then I create a very simple sketch and possibly prototype and attempt to pre-sell the product. Offer them to buy in advance to get a discount while the product is being developed. If the need is really that great, evidence has shown from my past experiences doing this that they will pay for it. This is a great sign that there is a market for the product that does not exist yet.

5.) Finally to be sure and know that it was not just my relationship with them that sold the product, I would propose a small mailing to a sample of another 100 of the subscribers to see if they have any interest in the product before it's created. Maybe create a sales page for it. To do this you'll have to know the sales conversation for the product (that is every counter or concern they have you need to know). If they agree to sign up in advance for it as well without my relationship being a key factor then we know it's a product that will sell very well to the entire list.

6.) At this point develop the product using your pre-sale funds and/or code yourself as well to save on money.

7.) Create the final pitch page for the product and sell to the rest of the list and see if you can't strike gold .

I think this is a sound idea because it's based on the customers and not what 'I think is good for them'. The idea is to let the customers be your guide.

Now if the customers start asking you to make a rocket ship that is not good, but you just need to listen to their concerns and really pin point what the problems are and solve them, don't go feature crazy as that gets expensive. If they are willing to pay for something even if it's lacking a feature then just do the minimum necessary. Only add features as demand asks for it or if it shows you will significantly get more sales. Ideally a product that has monthly potential is a good one.

I'm curious what you guys think of my approach. I think this would be a great way to launch a product get sales before it's even made and start with a strong launch.