I’m going to mention something that possibly you and others will not like, but I do so because of what I’ve learned and the cost of such lessons. Before you take a product to manufacturing, I suggest you make sure you have a viable market for it. All too often people will fall in love with their idea, service, business or product, without first doing the due diligence, asking and answering with some certainty the question: Does anyone want it? Do ENOUGH people want it? Much wasted time, money and effort can be avoided, if you will first answer these kinds of questions, with cold blooded honesty.

One of the ways to test the viability of an idea, product, service or business is, find professionals who want to invest in it. You don’t need to accept their offers, but if you get a few good ones offering you money, it’s at least one indication you have something that will fly. And I would also suggest you stay away from getting funding from family or friends. They’re often too biased (and too inexperienced) to be good investors.

Of course, on the other hand, you don’t want to shoot down a viable idea, product or service. For example, the maker of the Red Bull drink was told by many that the last thing the world wanted was another caffeine drink. And advertising agencies advised him to tone down his packaging and go with other names.

Also, it’s been reported that Walt Disney was turned down by over 200 banks, as he went around trying to get financing for the original Disneyland.

Also, let me mention something about Bob Proctor, one of the most well known Prosperity Teachers who has created millions from his prosperity seminars and products. Did you know that he first got rich by creating a cleaning service? From what I understand, his first application of success principles was to create a small office cleaning service, which he managed to get off the ground locally. Then, he figured out how to duplicate the service and get it into other cities, and even other states and, I believe, other countries.

Also, did you know that when Arnold Schwarzennegar moved to Hollywood to venture into being “a movee stahh” he supported his effort with a brick laying business with a friend of his? I just mention this because I believe it’s a good idea to look behind the façade of people to often grasp what really went on for them to have the lives we know about.

Arnold The Bricklayer

As articles to further whet your wealth appetite, here are links to celebs with business savvy, and some idea of how they create millions ‘behind’ the scenes and away from cameras.

Business Savvy Celebs

Poverty To Power

It’s bound to make you at least wonder what is possible.

Phil

I'll second that, as someone who has gone through considerable effort creating and launching products that never found a market. I was probably one of the absolute first creating full color comics made specifically for iPhone. I got quite a bit of press at the time. It never took off. That may not be an example of their not being a market, since iPhone comics seem to be doing well in the App Store today, but it may have been ahead of its time back in 2007.

What's really important to what Phil is saying, at least in my view, is the risk involved. Creating a bunch of comics for the iPhone and making a website cost me nothing but my time. A physical product that needs manufacturing is a whole different story. But risk needs to be tempered. Look at what being risk averse has done to Hollywood or the video game industry. They are riddled with remakes and sequels and it is now so rare that an original idea pops up that when it does, few even notice.

Catering to existing markets is safer road, to be sure, but like the examples Phil mentioned with Red Bull and DIsneyland, not seeing it doesn't mean it is not there. I'm sure no one expected The Pet Fountain (Yep, a drinking fountain for dogs) to be such a huge success and make its creator rich. (BTW she does absolutely nothing too. She sold her handmade prototype to a major pet store chain and now she gets a cut of everyone sold, forever)

30 years ago professionals said desktop computers were the stupidest idea ever. That didn't stop Steve Jobs from creating his Apple. You can create a market if you have that vision and see what no one else can see. Of course, Jobs does know a market when he sees one too. Apples two greatest successes, the iPod and the iPhone, were not only made for obvious and existing markets, but for already saturated markets. Doing it better is certainly worth something too. Part of Jobs' creativity is combining existing things in new ways to create a better experience for the consumer.

Most importantly, don't let the lack of a visible market stop you from doing something you really want to do. I may have only made a $1 or so with my iPhone comics endeavor, but it was a lot of fun and I love creating images for that screen. I did the same thing for the Sony PSP handheld game system before that. Never attempted to sell them or anything. I just love gadgets I guess.

Also, the lack of a market may not be the end, it may be a beginning. I made all those old comics free now and after three years they still get hundreds of downloads every month. When Gillette first made his disposable razors, nobody wanted those either, so he gave them away. He got rich selling the replacement blades.

Teruchan said:

quote:

Catering to existing markets is safer road, to be sure, but like the examples Phil mentioned with Red Bull and DIsneyland, not seeing it doesn't mean it is not there.

So, so true. I LOVE doing historical reproduction pottery, and as far as I know, I a, the only one in my country that does ancient Roman and Greek. And I have CREATED MY OWN market for it with many repeat customers. In fact, there not being an existing market prior to my studying SOGR led me to believe that to make a living creating these pieces was impossible! Not only have I found it possible, but I have supported myself and my family with it for the last 2.5 years! The idea of "risk" in my view is based on fear and the competitive plane. If you do what you love to do, the Universe works WITH you to bring you all the customers you need along with people to help you. I attracted a wonderful benefactor who offered to pay my house insurance for a year and did. The idea of risk, when you are doing that which you love to do, is all in the mind really.

quote:

Most importantly, don't let the lack of a visible market stop you from doing something you really want to do. I may have only made a $1 or so with my iPhone comics endeavor, but it was a lot of fun and I love creating images for that screen. I did the same thing for the Sony PSP handheld game system before that. Never attempted to sell them or anything. I just love gadgets I guess.

Teruchan, as I was reading this, I was wondering, "Who knows what would have happened if he had kept going with it"? You might have attracted the right marketing person who might have taken care of getting your work "out there". What happened to me was that as I kept creating, a wonderful couple who sell at Ren Faires and Roman reenactments all over the country, Lawrence and Julie Brooks of La Wren's Nest lovingly packed up my wares and sold them all over the United States for a mere 20% commission. In the 2+ years that they toted my pieces around the country, they only chipped 1 small cup. My pieces got well known to the reenacting community that way. The only "how" part for me was packing and shipping my pieces to them. They did the rest.

It's just like Croz says, and it is so true, "Get happy first, wealth and success will follow".

In chapter 3 of SOGR, it's possible Wally meant identifying market needs and filling it by following those trends. Following the trends allow anyone so inclined the opportunities to be of service and use to the world. He said:

"At different periods the tide of opportunity sets in different directions, according to the needs of the whole and the particular stage of social evolution which has been reached. There is abundance of opportunity for the person who will go with the tide, instead of trying to swim against it."

Having faith, purpose and gratitude are still the cornerstones of Wally's teachings. That means focusing on our gifts that we have, and using them to add value to the world. By doing that, I believe everything else will fall into place, including the market we are serving. Julia's journey is perfect example of this.

I think you're right Kevsky. As we all know, the automobile has long replaced the horse and carriage, globally, as the standard means of transportation. Trying to bring it back would likely be swimming against the tide.

Mr. Wattles wrote, in his day, how the steam railroad system was pretty well monopolized, but aerial transportation would soon become a huge industry employing millions. He says it is better to turn your attention to aerial transportation than try to stake out your share in the saturated steam railway system.

These examples are based on progress, where the tide is easy to see. If you ever heard of Silicon Graphics, they tried to hold on to the old super computer model, charging as much as $20,000 USD for one machine, but the standard computers we all use on our desktops were rapidly catching up to them in power and soon surpassed them. Their day had ended, and the tide shifted towards amazing computing power being available to all.

That tide is not so easy to see when it comes to less tangible products like in the publishing industry. Publishers told Jack Canfield that no one would want to buy an anthology of short stories. In fact, over a hundred publishers told him that. Looking at the "tide" of the publishing industry, this would certainly seem to be so. No one was doing it. Still, Canfield, Hansen and a once small publisher created a $1 billion book empire out of Chicken Soup For The Soul.

I think many industries, like book publishing, video games and movies, create a tide that may not represent what people really want to see. It's not based on the needs of the whole. Nintendo, the popular game company that gave us Mario, made a huge comeback in recent years with innovative games like Nintendogs and that cooking game, the name of which escapes me. Suddenly, young girls, housewives and even senior citizens, market demographics totally neglected by the video game industry at large, were interested in and playing video games!

I think Kevsky is on to something, certainly when I consider what I want to do. He wrote, "That means focusing on our gifts that we have, and using them to add value to the world. By doing that, I believe everything else will fall into place, including the market we are serving." I bolded the word focusing, because I think sometimes we hurt our own chances by putting our focus in the wrong place, especially creative types. Did you know? Some of the most successful book properties were created by authors who had no intention of ever showing them to anyone. Two I can think of are Twilight and The Crow, both of which spawned successful movies, games, comics and so on.

@Julia
I have no doubt that if I had continued my iPhone comics gig it would have turned into something great. You want to know something really interesting? There was a marketing guy somewhat interested in what I was doing back then. And he just emailed me today!

quote:

@Julia
I have no doubt that if I had continued my iPhone comics gig it would have turned into something great. You want to know something really interesting? There was a marketing guy somewhat interested in what I was doing back then. And he just emailed me today!

HA!! I LOVE it!!
There are NO coincidences, , only synchronicities...

quote:

Originally posted by Ancient Soul:
In fact, there not being an existing market prior to my studying SOGR led me to believe that to make a living creating these pieces was impossible!

I just can't help myself:

"Sometimes I believe in as many as six impossible things before breakfast." Alice, from Wonderland

quote:

There are NO coincidences, , only synchronicities...

I love this one Julia - and many times I have seen this happen in my own and other people's lives.

What is even better is that opportunities missed tend to arise again in some other form. Sometimes you are just not ready.

In 2006 I was doing an online course with Mr Hanson of Chicken Soup fame. I started writing a children's book which covered bullying issues (Saffron the Funnelweb Spider) and I dutifully followed the course advice and went to the American Book Fair in Washington DC. While there I met a lady who was the principle policy advisor for all schools in Pennsylvania. She was very keen to receive my book and possibly get every school to buy it.

I didn't finish my book, but in the last month or so I have started writing and illustrating again - Who knows who will turn up in my life as a result. Fingers crossed anyway.

Hey Teruchan, I hope your ideas manifest and take off in a wonderful way!

cheers
Pauline

Hmmm.....

Our daughter has been making soap for fun, and has been selling some of it. She is a very creative person and has some very distinctive soap! And as she goes along she continues to get ideas on what to add to this line, she has been developing a website and I think that she will do well!

At one point in my past I started making macrame at home, soon I had my home filled with macrame so started selling some in my front yard, then at swap meets, then at art shows! As I developed I kept getting inspiration on how to create new product, and how to sell. In 1975 I sold $60,000 of my macrame in my best 6 month period!

We take an Idea or Product to Market when we are inspired to take it to Market! AKA Inspired Action!