Welcome back to this episode of The Amazing Seller, the very BEST place for you to learn how to sell products on Amazon. This episode is all about finding product ideas. That’s really the first and most important step to a successful private label selling business. You can’t even hope to make a living doing Amazon sales if you don’t have a product that people want to buy. So take this step seriously. Scott’s got some great tips for you about how to find product ideas that you KNOW will sell. Be sure to listen. This one’s full of great value.
First, think about serving a market.
You want more than one product that sells on Amazon. You want a brand, a business. If you’re going to build a line of products like every brand does, you need to think in terms of the overall market you’re going to serve. Are they hunters? Knitters? Chefs? Parents? Athletes? Drill down even further. Is there a subset group within that market? The more specific you can get the more clearly you’ll be able to discover specialty products that niche can use and will be willing to pay for. Think about the market and the wide variety of products they need and you’ll be on your way to finding a successful product you can private label on Amazon.
If you want to find great products to sell, start with a daily “touch list.”
You may have heard Scott talk about a “touch list” before, but it bears repeating because it’s so important. Everyday you touch thousands of things that you use to make your life work. Computers, clothes, toothbrushes, and more. Spend time over the next few days looking at everything you touch. Is there an item you use that’s kind of unique? Interesting? Popular? Is there a way you could come up with a product idea centered around a product like that? Take the time to make a touch list and you won’t be short of ideas for great products.
Your hobbies or passions may be the very best place for you to find a product idea.
Think about that one for a minute. If you’re already passionate about something you’ll know it better than most people. Start digging into those hobbies that you love so much to consider what items or products other people who like it would buy. Is there any way a product could be modified or tweaked to serve the market better? Is there something everyone wants but nobody can find? Do you see how this works? The more questions you ask about your hobbies the more you’re going to be able to find product ideas that can really work. Listen to this episode to get more great ideas from Scott about how to make your hobbies and passions into a business.
What have you purchased in the last 7 days?
Asking yourself this one question – and making a list – is going to open your mind to the possibilities of things that people buy regularly, over and over, for the daily business of life. Those are the kinds of things that will help you get your mind going to find those products that can be consistent in their sales and demand. Don’t be lazy and just try to think about it, write it down. Then expand your question to the last 30 days. You’ll be amazed at all the ideas you come up with from this one simple exercise.
OUTLINE OF THIS EPISODE OF THE AMAZING SELLER
- [0:25] Scott’s introduction to the podcast!
- [0:39] How you can get transcripts of every episode and cheat sheets of certain episodes.
- [1:54] The one year anniversary of TAS!
- [3:59] An inspiration from the TAS Facebook group.
- [6:12] When Scott first started Amazon private label sales, there were no tools.
- [8:10] How to think about the market you’re going to be serving.
- [9:15] Why service one particular market is vital.
- [17:00] Do your own personal “touch list.”
- [18:20] Consider passions or hobbies you have.
- [21:24] Browse shopping sites and networks to get ideas.
- [22:50] Walk through the big box stores to get ideas.
- [24:50] Infomercials and TV shows.
- [27:40] Listen to what people are talking about.
- [29:27] Check out the magazine racks at the store.
- [31:51] A Bonus question you should ask yourself.
- [33:45] A Bonus tip using Google Keyword tool
TRANSCRIPT TAS 164
TAS 165 : (Back to Basics) 5 Steps To Finding Products with No Tools Required
[00:00:03]SV: Hey hey hey. What’s up everyone! Welcome back to another episode of the Amazing Seller Podcast. This is episode number 165 and today guess what? We're going back to basics. I'm going to share with you seven tips for finding products with no tools required. That's right, you heard that, no tools required. I want to…
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share with you these tips because, I use these tips for brainstorming and discovering products and markets that you may not even be aware of and it's a really, really great exercise to do. I'm going to share them with you today.
Now, before we do jump in, I wanted to remind you that we're now offering transcripts for each episode. If you wanted to download the transcripts, you can do so by heading over to the blog and then typing in the episode. In this case it would be theamazingseller.com/165. In this particular episode, I wanted to also give you a cheat sheet. You can also download the product discovery cheat sheet that will go along with this episode. You can head over to theamazingseller.com/165 to download that.
I have to say, if you guys could just see me right now, I'm like fired up. I know you guys are saying, “Well, Scott you seem like you are always fired up.” I get so many people, especially when I'm doing like a periscope and stuff they're like, “Scott man, give me that energy.” If you guys could see me, my hands are like going a hundred miles an hour. I'm not standing up, which I'm going to be experimenting with that too because I'd like to stand and I don't like to sit all day. When I'm sitting at the computer I just seem to move around a lot. I'm going to be working on possibly doing like a standup desk at my next home office, which will be coming here in the next several months, like June 30th-ish, is when we're supposed to go to South Carolina and move. For those of you that don't know and have heard me talk about that, we're moving to South Carolina.
Anyway, the reason why I'm really fired up too is, I forgot to mention the one year anniversary of the Amazing Seller Podcast and that was February 4th. I missed it. Right now, it is second week in February depending on when this is airing and depending on when you guys are listening, but February 4th 2015, was the very first episode that I recorded of the podcast and I had no Idea what was going to come from it. I just was doing it to really flush out what I was doing and also connect with other like-minded people and hopefully be able to rub elbows with other successful people and I think you guys can see now looking back on that year it's all been pretty much accomplished.
I just had no idea. Again it's one of those things that, should I do it, shouldn't I do it and I'm so glad that I did it because I met so many awesome people, including you that are listening right now. You guys are awesome and I appreciate each and every one of you. I just want to share some of these numbers with you really, really quickly because it's just overwhelming for me, in a sense, in a good way. Since we launched, February 4th 2015, the podcast, we've had two million three hundred thousand downloads to date.
Last month in January, we had two hundred and seventy five thousand downloads which is just incredible. Right. I just wanted to share those numbers with you and let you know that you guys are just totally awesome. The Facebook community, we started again with zero people and now there is up over 23 thousand in the TAS community. We kind of refer to ourselves as TASers. Well, it's just awesome, I can't believe it and if you guys have not connected over there, definitely check out the Facebook group, you can request to join over there at theamazingseller.com/FB as in boy. Just check it out, there's a ton of great information there and just people sharing their stories, their ups and their downs and their celebrations, and all of that stuff.
I want to share one with you right now that I just went here. This was posted February 6th and it was from David J Schwartz. David if you're listening, I'm going to give you a great big high five and then we are going to jump up and we are going to give another high five. What you shared is amazing and I want to share that with the TAS podcast listeners right now because you shared this in the group and I think it's amazing. I'm going to read this and it's not that long but I'm going to read it and I'll share what the screenshot said.
[00:04:31] SV: He says, “Hey guys, so I wanted to reach out to everyone to introduce myself. I've been listening to the podcast since episode one. I have spent the last year grinding on my own, keeping my head down and doing what I needed to do to grow. This day, a year ago, my brand started live on Amazon. This is my sales from the last year. Thank you Scott for the information you have provided. I brought out a partner in August and I can say it was the best thing I've done. 40 new SKUs have just hit the final count, eight parents and five children. This is way more than a private label to me. This is a brand. I hope I can provide value and give back the way so many others have done for me. I look forward to getting to know you all better.”
That was posted by David J Schwatz and his screenshot, by the way was $283,119.64, 15,186 units ordered and the average sale order was $22.14. Man oh man, David congratulations, I'm so happy for you. I'm proud of you and I'm so thankful that you're sharing it and not staying behind the scenes, so to speak, because this is … For people that out there struggling just getting started it's just great to be able to have someone like you come on here and then just explain how the group has helped you, how the podcast has helped you and how you've taken action. Hey, you know what, maybe reach out to me and maybe we can have you on the podcast, that would be awesome. Go ahead and reach out to me, maybe we set that up.
Alright guys, enough celebrating, we got to get work. What we got to do here is talk about the basics of finding products and not really relying on tools. I got to be honest guys, when I first started, I didn't have a tool to use really. There was nothing designed and created like Jungle Scout. Now, don't get me wrong, we're going to go to Jungle Scout and I did episode 161 which you're probably going to want listen to after you listen to this one because that is all about product research again and finding products, and using Jungle Scout and like what we look for.
In this case, it's like going back to basics and understanding how it all works but then also not just going after a product but actually looking at a market. I think if you want to build a long term business, you need to find a market that you can serve.
That's really the goal here because we don't want to just find a product and then have to go find another product in a whole another brand or in a whole another market. We want to be able to serve the same market and as we move forward and you guys are going to see I'm going to start getting big into this myself and I'm going to start sharing it with you guys but start building an email list in the market and actively going after that. Going after the outside traffic but getting them on email list first, to then show them the products that I have for sale in my brand. I'm going to do this and I'm going to share with you what I'm doing this and why it's so important.
Right now, to not get overwhelmed with that stuff but to understand, you need to be thinking about a market. I'm going to give you some exercises here on what you can do this stuff. You can take action with this, you don't need any tools to do it. All you need is yourself, maybe a pen, paper, that's really it, that's all you need. You need to be able to get yourself to where you need to go, that's it. You just need to be able to just move and take action. Alright.
When selecting products, you need to, like I said, I'm going to say this again because I want it to really, really sink in, you need to think about the market that you could potentially be serving. I'm going to give you some examples. If you're thinking about selling a golf bag, right, who are you going to sell that to? Are you going to sell it to just anyone? Any random person? No, you are going to sell it to a golfer. Do you think that we can create an email list with some tips and with different things that a golfer would be interested in, that they would want to read, because you can help them with certain things? You may be saying, “Well Scott, I'm not an expert in this stuff.” You don't have to be, you just need to be an expert at finding the people and then you can hire people to create content if you want to.
You can hire people to actually do most of the work for you. You just need to understand that you're serving this market and the golfer could be, if you wanted to niche it down, it could be men golfers or it could be women golfers. You can niche it even down even further but I just want you to understand and kind of get that concept that. You are not just selling a golf bag and then you are going to go, “Oh, what else is selling? Oh, there's a garlic press selling too. Oh, good, I'm going to start selling that. Oh, wow, look at, there's an opportunity too over here.” If you can focus and find the product that would serve a market and then find the other products that will serve the market, your job will become easier because number one, when we start building either our Facebook community, a Facebook page or group or an email list, we can start to understand our market or we can go into other established markets like Facebook groups, there are ton of amount there. Just search in what you're looking for, golf, and you'll find a ton of golf groups, where people in there talking about golf, talking about their problems, talking about what they want to improve, talking about their new products.
I'm getting a little excited here. Aren't I? You guys can tell. I'm so passionate about finding a market and then serving that market and then it becomes so much easier and then you are also building a brand that you then could take off Amazon, build an email list, take it off Amazon, start running external ads to an e-commerce store, start using content marketing. There's a whole bunch more that you can do and so many people on the digital world are doing this but they are not doing it in the physical product space, they should be. That's the golfer that I was … That's a market, a golfer.
Fishermen. If you are a fisherman, you are going to be into fishing. If you sell fishing lures, don't you think that a fisherman would be probably someone that you could market other products to, other than fishing lures? What about rubber worms? What about fishing line? What about, I don't know, a net? What about? All of these different things that a fisherman would be interested in, you could sell them, but you need to understand that that's a market. It's not just a product.
If you want to sell a golf club but then you also want to sell a fishing net, that doesn't go together. It's going to be a lot harder for you to go down that path. My personal opinion. I think it's going to be easier for you to build something where you can serve more to that market. I'm not getting into the seven steps, by the way yet, rather the seven tips here, I'm going to get to them. These are just random thoughts that I'm just throwing out there because I want you to understand that we are going out for a market.
Another idea would be a hunter. If someone is into hunting or we can create a community or an email list around hunting. Women's makeup. That's not necessarily like you would say, “Well, how could you build a group. There is a lot of women that have YouTube channels that have a huge following for makeup tips.” Well don't you think if you had makeup tips, you could probably sell the different accessories for makeup? Not even just the makeup, you could sell different things, like lipstick holder or some type of eye liner thing. I don't put eye liner, you women know what I am talking about.
Those things that in that market if you had makeup tips or makeup content, well, and you had an email list of women that were interested in this. Don't you think it'd be easier to sell a product to them or find products to sell because you are going to have more of a concentrated base? Coffee, people are in the coffee or like the Espressos. If they are a fanatic at that, I know a lot of people, in tea, like press tea and all that stuff, it's a big market. You could have a group that's all into these high end coffees. If in the high and coffees market, like espressos and all that stuff, there's expensive stuff that goes along with that, accessories, there's machines, there's all of that stuff, well, that's a conversation or it could be a new coffee recipe every day that you experiment with that.
I'll never forget it, I was doing a job for a guy … This is going way back. This is going back like 15 to 17 years ago. I was doing a job for a guy and I thought it was kind of funny at the time, now I look back and I'm like, “It was cool.” He would get all of these different blends of coffee from different parts of the world and then he would make up his own concoctions and he let us try on his stuff and he'd mix and he was like, “This one was a little bit of Hawaiian and something another. This one here is a little bit Jamaican.” He was just a fanatic about it.
Well now with the online space that's even become even bigger and even more people can find each other and then they can share this different recipes. Right. Don't you think that those people might be interested in coffee stuff or things that could go along with that market. Grilling, another one, if you are a grill master, you've got someone that's a big barbecuer that likes to use briquettes. If you don't know what briquettes are, those are those little charcoal things that you cook on.
I like cooking on them in the summer too. The problem with them though is it takes a lot longer, not really a problem if you have about four hours to cook. I like it with, I have little beer, and I don't drink much guys and don't want you thinking I’m this guy that's out there drinking all time, but if I'm out in the backyard, hot summer day, we are grilling, just going to relax, have a nice beer and just relax, company, talking, that's fun. You could have people that are really into that, I got a buddy of mine that's an avid griller and he's grilling on these different apple wood and these different type of seasoned wood. Those people are fanatics about it.
You could offer spices and rubs, certain types of briquettes, you could different screen that goes over top of the grates so it doesn't fall through or whatever. I don't know much about that market but I do know that my buddy is always talking about the certain wood that he just got, these little wood chips that go on there and they give it a different flavor. Then, there are spices and rubs, you could have a page and I know there's a big outfit there, I forget the name of them but they do that, they have like an Instagram page and they always put out these new rubs that they're coming up with but then they show you a recipe using the rub or what do you think that people are following that are going to do? They are going to want to buy the rub or the spices
Again, we’re talking about a market. If you can start to think about markets, again, I’m going to give you some exercises that might pull this from you without you even having to try, well, you have to try, you actually got to physically think about it. The one thing that you want to think about though as far as a market and this is just like a couple of things to just keep in mind. Ask yourself this question, could you create a Facebook group around this market? If you’re thinking about selling let’s say a fishing pole, is there a market around that? You would say, “Yes, there is.” People that fish, there’s avid fishermen that they have tournaments for that. That there could become a Facebook group, you could have a Facebook group and start to build that up or an email list.
Then you could also ask yourself, can you create a product line of at least five products in this market? Let’s go back to the fishermen. Could you have multiple products? Of course you could. Like I said, rubber worms, lures, fishing line, fishing net, there’s a whole bunch of other things. Just look at the tackle box, open up a tackle box, there you go, small tackle box, big tackle box, you have all this different things. That particular market could definitely have more than one product. You want to think about those things because that will also let you know and kind of validate that it’s a market that people are actually buying stuff.
Let’s go ahead and jump into these seven tips that I want to give you. Again, these are actionable things, these are things that you can go through and just complete these exercises and then just let the thoughts and let what you see dictate the outcome. Okay. Then afterwards you can kind of look at it a little bit closer but right now I want you to write this stuff down, physically. I want you to get a pen and paper and write it down. Again, like I said guys, we’re going back to basics, let’s not concentrate on our phones or any type of app, let’s use the good old fashion pen and paper. Alright.
[00:17:00] SV: Number one and this is something that I talk about on my workshop and I talk about it in my class and I talk about it to anybody that I meet, the very first thing that I always tell people to do is do your own personal daily touch list. What that is is when you get up in the morning, when your feet hit the floor, start writing down every single thing that you touch. Every single thing that you touch you write it down. As silly as it may seem, write that down all the way through your day. Take a little note pad with you, go into Walmart or your local drug store or whatever, go in there and buy a little tiny notebook, that’s your assignment. I want you to go get a little notebook if you don’t have one at the house, a little one. That one that you can almost keep in your back pocket. That’s your new iPad. Alright.
Funny joke, we did that at Christmas time for my daughter last year because she my youngest, she wanted an iPad, so we put like this little sticker of an eye and then a pad and then we gave her an eye pad, she didn’t think it was that funny. Anyway, it’s funny. Number one, daily touch list, do this exercise guys, do it for a day, do it for two days, come back and do it in a month. Try to make that something you’ll do monthly. You’re going to be surprised on what may change in your daily life that might trigger something.
[00:18:23] SV: Number two, we’re going to move on to your passions, your problems and your hobbies. For example I’m going to give you four of mine right now that come straight to mind, bowling, that’s a passion of mine. You guys might not know that of me but my family are big bowlers, I haven’t bowled in a league in a while but my father was a very good bowler, my father’s brothers were good bowlers, even his sister is a very good bowler, over 200 average bowlers. I was bowling with my father in a league when we were working together and we both carried like a two ten, two twenty average, that’s pretty good in bowling.
I’m an avid bowler, we go bowling sometimes on Sundays, the family, I love it, I love the sport. That’s a passion of mine. I cannot get sick of that it’s just fun, I enjoy it. Another one is darts, I love darts. I actually have a board downstairs in our basement with the wooden darts, remember the old wooden darts? That’s another hobby, that’s a passion and it’s a hobby. We can say bowling is a passion or it’s a hobby, either one.
Basketball, I’m into basketball right now. I love basketball, I love it. the most reason why I love basketball is my son’s playing right now at a competitive level, he’s a senior in high school, where he got he got a game tonight and I’m really excited about it. My wife and I are very competitive, we love sports, we’ve been watching our kids through sports since they were little and it’s just exciting. Basketball. Coffee, you guys know I love coffee, I just finished a cup, I love coffee. I could get into that experimental tasting stuff in coffee. I would love that. Okay.
Moving and why I’m saying moving, well, it’s kind of an issue right now for us because we’re going to be moving, I got to start thinking about moving stuff. Like what do I need for when I move? I need boxes, I need labels, I need to hire maybe a moving company, so these are things. Again, guys, I’m flashing out things that are coming right to mind for me, bowling, basketball, coffee, moving. I just kind of threw those things out there, there’s so many more, so your passions, your problems, your hobbies start going through them.
The other part of this exercise that I’d like to see you do is then rewind, go back in time and what were your passions, your problems, your hobbies when you were a kid, when you were growing up? Go back in time or maybe look at your kids. Again, I can do that with my son right now, he’s big into sneakers, he’s a 17 year old kid, sneakers now are a huge thing, huge. People are spending tons of money, they’re trading them, they’re going into dead stock or now all of a sudden if they’re in dead stock they’re worth more because now they’re not in production anymore, it’s a whole thing. I could go into that, start looking at sneaker stuff and all that stuff.
Again, tapping into your kids, if you have kids, is another thing you can do. Again I said coffee and then moving. Those are just a few things, there’s a bunch more of that I could write down on my list and I have. That’s number two, it’s an important one.
[00:21:23] SV: Number three, browse eBay, HSN, Home Shopping Network, QVC, Amazon and just get ideas. Don’t go there thinking that you’re looking for a product, just go there and just randomly go. Go to eBay, see what pops out at you, see what is their trending thing, what is their top seller, what is on that front page that they’re trying to pull your attention to. Those that are the things that are on the surface that you can see and then you can start drilling down and just go in there without really having any type of market or product in mind and just see where you end up and then make notes through this process. Okay.
That’s an easy one to do. They are places that people are going there to buy stuff, it’s a search engine for buyers. Like I said, Amazon is the biggest search engine for buyers, Google is the biggest search engine for finding information. Right. QVC is all designed for people to sell products and buyers to buy them, HSN same thing and eBay same thing and those other ones, go to sears.com you can find them there, there’s a bunch. Just go and start playing around there and start getting ideas, that’s all … We’re in discovery stage right now, like idea stage and then we can look at markets and all that stuff. Alright.
[00:22:51] SV: Number five … I’m sorry, number four, I skipped ahead there. Number four is the good old fashioned big box stores. Go to Target, go to Lowe’s, go to Home Depot, go to any of the big stores out there, go to Cole’s if you have one of them in your area because here’s the thing, they organize those stores into markets or into categories. Right. If you go into, I’m thinking about Target right now, if I walk into Target I’m going to go in there, I’m going to hang a left and all of a sudden I see a whole bunch of end caps too by the way, I got all these end caps by the registers. Why are those things there? Because that’s where people visit, there is the traffic flow.
Pay attention to those things, is there something there that’s trending right now, that’s hot? Make note of it. Keep walking down a little bit, we go into the beauty area, we go into care, skin care, we go into men’s care with shaving and that type of stuff and then women’s make up. See of all that stuff it’s all organized for us, it’s all there. Walk down a little bit further, make a right on one of those lanes there, one of those isles, you’ve got office products, office goods. And you go down a little bit further we got kitchen stuff and we go down a little bit further we got … I don’t know what’s next, we got sporting goods, then we got electronics and then we’ve got, maybe we’ve got a seasonal area. See all of these things that are all organized for us. We can walk up that aisle and everything is at a disposal of people that are purchasing in this market. Okay.
Again, things are there for us, we just want things that are so easy, that are like, “All right Scott, tell me, what product should I sell?” That’s what everyone wants. Right. It's just not possible. You can do the work and this isn’t hard work, it’s just being aware and making notes as you’re going through this. So big box stores, take a trip to one of those or two of them or three of them, make it an afternoon. Go there with you and your significant other and just have fun. Go there and just be on a mission to pay attention and see what jumps out at you.
[00:24:55] SV: The next one is number five, infomercials, TV shows. I’ll talk about both of them, they’re my number five. Infomercials, they’re great for a lot of different reasons. Number one, if they’re putting money into an infomercial, I have to tell you, they’ve already tested a lot of if it’s going to sell or not. Alright. It may not even be that product that you you’re going to sell but it might be that particular market because it’s usually something that is designed for a market and it’s just helping that market in some way so just pay attention to those infomercials. You guys may have heard me talk about these with Danny Brewer and he publicly says this, he found his first product by watching an infomercial. He watched the infomercial, got the idea, went and seen if he could source, he could, sourced it, now he’s selling it. He still sells it to this day.
TV shows, I was just recently doing a coaching call with one of my students and he told me that he found his product by watching one of these home network channels, like a Fixer Upper type show and he’s seen something in there that caught his eye and he’s like, “I’m going to go check that out.” He checked that out and now he’s sourcing it. Infomercials, TV shows, just be aware. If you’re watching a sitcom, look and see what they’re doing, what they’re using and it might just stick out to you. I was just at my dentist’s office the other day and I seen on the back counter, I seen like they had those wipes for your computer screen and I’m like, “Huh, that’s pretty cool”, a business is buying them, that’d be cool to launch a product similar to that because then a company could buy it. Someone who’s in charge of buying for all of the dental facilities could possibly buy that.
Now, again, that might be a stretch but I’m just saying it’s an idea. Now don’t go out there and run out and start doing these screen wipes or whatever, I am not saying that, all I’m saying is I was paying attention as I’m checking out here and I’m paying my bill, I’m looking around. I’m always doing that. You’re going to start to develop this sense in this eye and you’re going t make notes of that and it could trigger something where you can then think about a market. Now me personally I’m not in that field so I’m going to make note of it, I’ll put it on my master list but right now that doesn’t go into the market that I’m serving right now but it doesn’t mean that it potentially in the future couldn’t if I did a different brand. The bottom line is that I’m paying attention, I’m actually being aware of my surroundings and I’m looking for opportunities.
[00:27:21] SV: Let’s move on to number six. Number six, this’ a big one, it’s really, really easy. Listen, listen to people, listen to friends, family, in the store, in the bank, in the market, in the dentist office, wherever, listen. Okay. Listen to what people are talking about because they’re going to talk about what they did on the weekend, “Oh we were just out on the boat last weekend and we were water skiing.” Oh, wait a minute here, wait … What did I just hear? Someone was out on the boat and they were water skiing. Mmhm, water skiing, mmhm, there’s a market for that. Could I serve that market? Would they order something other than just a ski or a knee board or a tow rope or, you see what I’m saying? That’s the process.
I just literally picked that from my head too out of nowhere but you can see what I’m saying. I’m listening to people and actually I’ve done that, I’ve been sitting there in the dentist chair and I’m listening to people talk in the next room over and I can hear them talking and I’m paying attention. Now, does it always come to something that you could technically use? No, but you still got to be aware and you’ll be surprised. Do that, spend a day just being very, very aware of what people are talking about and you're just listening, just listening in and kind of eavesdropping.
Just do that, I’m telling you you’ll be surprised when you start listening to people’s conversations, you’ll hear about their problems, their struggles, you’ll hear about what they’re excited about, they’ll talk about what they’re working on as far a new hobby or whatever. That stuff is gold. Then you can start drilling down but the first thing you need to do is start having this exercise sessions, we’ll call them, where you’re actually brainstorming and allowing it to come to the surface and then being aware. That’s number six. Listen to people, friends, family, acquaintances, whoever and do that in the store, the bank, the market, wherever you are just pay attention. Okay.
[00:29:28] SV: The last thing that I want to share with you is number seven and that is magazines. Right? Go to the supermarket and look at the rack of all of the magazines. Guess what? All those magazines are usually serving a market. Let’s think about this, we’ve got the avid Outdoorsmen with hunting, fishing. We’ve got another one with beauty tips for the woman. We’ve got … Well, let’s see, we’ve got maybe even model trains, that’s another magazine. We might have another one that’s about working out, we might have another one about woodworking. There’s all of these different magazines and guess what, if they’re outing a magazine out there’s a market for that and guess what that market needs products.
You can look in there and see what they’re using, number one, start to understand that market or you can look at the ads that are placed in there because those people are running their ads against their products because people in that magazine that are reading it, the readers of that magazine are interested in these products. They’ve probably done tons of research, they’ve probably run the ad and they’re getting results.
You can get ideas from what the ads are inside the magazine, brilliant, right? You don’t need the internet for that either, you just have to go to the store and look at the magazine rack, pay attention, look through, skim through, if there’s a few markets that you’re interested in that you want, that you think that you’re interested in it, maybe you are already interested in that yourself then really start to get yourself into that market and how you can serve that market and products that are being served already in that market, then you can take those ideas and then you can bring them over and start doing the research that we talked about in episode 161 and in episode 56 with Greg Mercer and then you start using tools. Alright.
These right here require no tools other than good old fashioned notepad and a pen or like I said, your iPad and the iPad is really just a notepad, that’s your pad. I would love it if you would just do these without using any type of electronic device, I think it’s better this way. It’s kind of old school but it works. Try it, see what happens. All right.
[00:31:53] SV: Little bonus exercise here for you. Ask yourself this question, ask it right now, what have you purchased in the last seven days? Write it all down. You might not even remember until you start thinking about it. What’s the things that you’ve purchased? Were they different things for your kids, maybe I know my son, he needed a new pair of socks the other day for basketball so we had to go to a sporting goods store and buy some socks. Right. There is something we bought. Not saying we’re going to sell socks but I can come back to that market. We’re buying things for my son who’s into this thing and then he’s going to need other things.
What else have we bought in that, we’ve bought him compression, they’re compression, like undergarments, we’ve bought … He needed an ankle brace because his ankle was sprained. There’s all of these different things that he needs because he’s our son so we’re buying this stuff for him because he’s playing a sport. Again, ask yourself, what did you purchase in the last seven days, then take it a step further, what have you purchased in the last 30 days? You may even want to pull up your credit card statement and see because you might not even remember. Right. That’s what you want to do.
Another part of this exercise would be what are you looking to buy right now? Are you researching something right now to buy? Are you supposed to be buying something but you’ve been putting it off and you got to get to it? I know there’s a couple of things that I need to buy right now that I’ve kind of been putting it off but I got to buy them so I’m going to start probably going over to Amazon in the next couple of days and I'm going to start getting ready to buy it. I’m going to go there and search and I’m going to find my product and then I’m going to buy it. What are you looking to buy right now? Something small, could be a replacement part for something, write it down.
That’s just a little bonus exercise, what have you purchased in the last seven days? What have you purchased in the last 30 days? What are you looking to buy now? All right.
[00:33:44]SV: Now, another bonus tip here, this is great if you want to start with maybe like an idea. Like I said, if we’re looking at a fishing pole let’s say, because we’re thinking about serving the fisherman market, you can go to Google keyword planner, you can go to the keyword planner tool, Google, it’s free, and then you can search using seed keywords. What I mean by that is that one thing so if it was the fishing pole or maybe it was how to catch a bass, a certain fish, you would type that in and then you would do a search.
Then you’re going to also see a lot of searches that could be also additional products not necessarily the search terms for like just how to do this but also keyword stuff is going to come up, data is going to come up for things that are related to this as well. That can also trigger more ideas and even give you that answer of other five products that could be released. Usually you know but this is a good exercise too to kind of dig in to the Google keyword planner and see what comes out from that.
I want to just stress this though guys, I want you to focus on just ideas right now of markets and products in these spaces, in these different markets that you’re thinking about and products. Make sure that you’re also remembering that you want to build out a product line. I say a product line that could be three to five products that will serve a market. Alright. Then from here that’s when you’ll move onto round two, let’s call it, of where you’re now drilling down into a market or products using a tool like Jungle Scout that we covered in episode 161 and in episode 56.
[00:35:39]SV: Let's just recap really, really quick. Okay. Again, I want to just go back to the very beginning, you’re going to be thinking about a market that you could serve with products, I think that’s the best thing to do. Alright. Let’s just kind of cover these seven tips that you can do immediately for finding products without using tools. Alright. One, your daily touch list, everything you touch, write it down. Two, your passions, your problems, your hobbies, write them down. Three, browse eBay, HSN, QVC, Amazon, again, this are just for ideas but write down what happens in maybe an hour window. Go there for an hour and after an hour get out, just go in and commit to an hour.
Four, big box stores. Look and see how they have the store divided up and you’re going to notice that it’s by categories, you’re going to notice it’s by markets. Alright. Also pay attention to the endcaps, the endcaps are usually where things are … They’re items that are selling and they’re items that are popular so look at the endcaps. Five, infomercials and TV shows. Watch these and pay attention. Six, listen to people, listen to your friends, your family, acquaintances, listen in stores, in the bank, in the market, wherever you are, listen and be aware. Seven, magazines, I think this is a huge one guys because these are proven markets. They’ve created a magazine around this market, now see what products they are buying and an easy way to dot that is to look at the ads inside for a great … A great place to start is looking at those ads because it’s a great way for you to know that they’re spending money to be in there so there's already products that are being served to this market.
All right, so there’s the seven. Now remember, if you want to download the transcripts for everything that I just covered, I know it was a lot and you want to download the seven tips that I just gave, the product discovery cheat sheet, you can head over to the show notes and that is at theamazingseller.com/165, once again that’s theamazingseller.com/165. All right guys, I think that you guys have some work to do, you got some homework there. Go through this exercise, even if you already have products go ahead and do it. I’m telling you right now, this is something that I do a lot and it definitely helps so I urge you to do it. Alright.
That’s it guys, that’s going to wrap it up, remember I’m here for you, I believe in you, I’m rooting for you but you have to, you have to … Come on, say it with me and say it loud, take action. Have an awesome, amazing day and I’ll see you right back here on the next episode.
LINKS MENTIONED IN THIS EPISODE
- Episode 161 – Finding products
- Episode 56 with Greg Mercer
- Google Keyword Tool
- Jungle Scout – www.TheAmazingSeller.com/JS (affliate link)
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