This SINGLE Absurd Idea Made Him $15M In 6 Months!
How many product ideas do you or could you have waiting inside?
Man Behind Product Idea: Gary Dahl
Estimated Profit: $15M in the first six months
While listening to his friends complain about how much of a hassle their pets are giving them, he joked about how a rock would make a perfect pet… and in a few short months, it went on to make him over $15,000,000 selling them at the cost of $3.95 each, pocketing about $3 for each sale.
He’s not alone though! There are countless stories of people with successes as wildly inspired as Gary Dahl’s silly alcohol and gripe session inspired idea.
In fact… the Japanese toymaker Bandai, took the idea of the pet rock digital with the invention of the Tamagochi.
Man Behind Product Idea: Akihiro Yokoi
Each Tamagochi Sold For: About $20
Number Of Tamagochi Sold: Over $70 Million Units
This little hand held virtual pet had owners obsessively “feeding” and “playing” with their digital pet by pressing buttons.
The rewards included getting praised by your pet, punished and adored… but inevitably ended up getting lost under the couch or trampled on by a pesky little sibling.
Digital Inventors Evolution To The Internet
The beauty of the Internet is that it runs 24/7, in practically every part of the world, with every type of person and interest available to you at your fingertips literally ANY idea has an audience.
Digital products have virtually ZERO setup costs and you don’t need to have a big warehouse or massive startup costs in order to get your idea off the ground.
Literally anyone can create a digital product, with the current skills and even the challenges you might feel are blockages to your success. People in all countries, with different language barriers, education barriers, financial barriers and more are doing this – and you can too!
But how do you know if any of your product ideas are going to be a good seller and worth your time investment?
And once you get your product created then what? How do you make it sell? How do you make sure it makes you the most amount of money? And how do you get targeted traffic to your offer?
At Wildfire Concepts, I work to create and release a lot of products (more than 50 in the last 8 years) and have no shortage of ideas – so in this article, I’m going to talk about the different ways that I use to come up with my ideas that I’m sure will sell and how you can too. Let’s break them down below.
2 Steps To Discovering Your Profitable Product Ideas
#1 Find Your Space
Before you dive into creating anything, you should really take the time to lock in the niche you want to focus on, find out where your passions are and then familiarise yourself with the space you will be working in.
Focus on understanding their wants and needs and becoming familiar with the struggles that they face, including any frustrations you might have of your own in the space.
GREAT products are spurred from frustrations and the ability to meet them in a way that relieves that pain and gives the customer what they want and need.
What do you know?
Most people underestimate their knowledge, we (myself included) often feel like everyone else knows more than us … and the truth is, there are a lot of people with a lot of knowledge out there.
What we forget though, is that usually those experts aren’t experts in EVERYTHING. Even the most educated people have areas that they know nothing about.
The way our brains work is pretty awesome. When we get an interest, or a hobby, or just get genuinely curious about something, we build more neurons around that specific topic, our brains actually GROW in strength when we dive into really understanding something, or developing a new skill.
To come up with some great product ideas you can ask yourself questions like:
- What jobs have you had?
- What skills do you know from those?
- What life experiences have you had?
- How did/do you handle them?
- What are some big challenges you’ve worked through?
- Did you do something different than anyone else?
- Have you got any hidden lifehacks you do automatically?
- What’s your family history?
- Is your situation unique from others around you?
- Could there be other people online who have suffered similarly that you can help?
- Would you have been willing to pay for a solution?
*Write down anything that jumps out at you, even if it feels silly to begin with and then you can start branching out from there – like this and then then put words in front of them like:
“how to” or “fix” or “solution to” or “finding the best” or “10 ways to use” etc etc.
It’s not always easy to find your own talents or skills because, of anyone … it’s often YOU who is most blind to the skills you have even if they are staring you right in the face.
Want To Find Out What Those Are?
You have a lot of untapped and unacknowledged potential in that brain of yours, so if you aren’t sure of were to start, click the link above and take our quiz to find out now.
Have any other awesome success stories to share? Or discovered something about yourself you didn’t know before? Share it in the comments below!