TAS 473 NEW Product Discovery 24 Hour Challenge (3 Action Steps)

Do you ever find yourself in a lull wishing an opportunity would come by jumpstart something in your life to get you working toward your goals? On this episode of The Amazing Seller, Scott shares a helpful challenge he’s put together to help sellers like you find that spark to get things moving. Use this opportunity to put away any lingering excuses and reach toward that dream of building a successful and thriving ecommerce business. If you are ready to put in the work and take the next step on your journey, make sure to listen to this episode and follow through with Scott’s challenge, you won’t regret it!

Do you want to sell a product or start a business?

What is your goal with selling on ecommerce platforms like Amazon? Do you want to make some side income and bring in a good chunk of change here and there or do you want to build a growing and thriving ecommerce brand that can bring you massive profits? On this episode of The Amazing Seller, Scott challenges sellers like you to really take a moment to consider what your goals are and to evaluate if your approach is helping you reach your goals. This 24-hour challenge could be just what you need to take your efforts to the next level. Make sure to listen to this engaging episode!

Start your touch list!

Where do you even start to get an idea for the products that will succeed on ecommerce platforms like Amazon? Is it a good idea to just start searching online to see what sells in high volumes? On this episode of The Amazing Seller, you’ll hear from Scott as he breaks down his approach and how you can get a good grasp on a solid product list today! Scott teaches the concept of the “Touch list,” this is an exercise where you grab a pen and paper and write down all the products that you are touching or have within arms reach, right now. Once you’ve completed that exercise, you’ll have a good place to start your product research. To hear more about the touch list and additional ways to build a good list of products that will succeed, make sure to listen to this episode!

Explore and validate niche markets.

How do you find a submarket that will support and embrace the product you’ve chosen to move forward with? Do you just hope one will materialize or do you make market validation part of the discover mode? On this episode of The Amazing Seller, Scott reveals how sellers like you can drill down and research niche markets. By taking this extra step to validate niche markets through social media sites like Facebook and YouTube, you’ll put your new product and brand in the best position to succeed. To hear more on this critical step, make sure to listen to this episode!

Get in the right mindset to succeed.

The bad news is that it is getting harder to launch an ecommerce brand, but the good news is that if you cultivate the right mindset, you’ll find success! On this episode of The Amazing Seller, Scott takes the time to go over why he believes it’s vital for sellers like you to shift your mindset and adopt a new perspective. If you can embrace what Scott has taught through this 24-hour challenge, you’ll have all the tools you need to explore and validate products left and right. Don’t miss a minute of this informative and eye-opening episode!

OUTLINE OF THIS EPISODE OF THE AMAZING SELLER

  • [0:03] Scott’s introduction to this episode of the podcast!
  • [2:00] Do you want to sell a product or start a business?
  • [8:30] Action Step #1: Discovery Mode.  
  • [13:00] Action Step #2: Find broad markets represented in your product list.
  • [19:00] Action Step #3: Validation drill down, choose one or two markets to explore.
  • [26:00] Helpful questions to ask yourself as you build your brand.
  • [31:00] Getting into the right mindset to succeed.
  • [33:30] Do this challenge, you won’t regret it!
  • [34:30] Special TAS announcement.
  • [37:30] Scott recaps all three action steps.

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TRANSCRIPT TAS 473

TAS 473: NEW Product Discovery 24 Hour Challenge (3 Action Steps)

[INTRODUCTION]

[00:00:02] Scott: Well, hey, hey, what’s up everyone? Welcome back to another episode of The Amazing Seller Podcast. This is episode number 473 and today I am pumped because we are going to do something a little bit different here today…

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… I’m going to actually give you guys a 24-hour challenge to do. Now, this is for anyone right now that is either stuck or maybe in the process of finding their first product. It’s what we’re calling The New Product Discovery 24-Hour Challenge.

I’m going to give you three action steps today that you can do immediately. I’m going to walk you through exactly what it will look like and how you can participate for free. All you have to do is do the exercises. You guys know, I’m always talking about taking action. Well, this is one of those times that I want you to go through and complete these three action steps and I want you to really commit to this because it’s like 24 hours like who can’t do a 24-hour challenge?

Now, you’re not going to be up all night for 24 hours like I’m telling you, you got to be on a treadmill for 24 hours, right? But this is where I want you to actually go through this process. Again, like this is for anyone that is stuck in this process or maybe even someone that is already launched, and they want to figure out the next product or maybe they want to build this into a brand. This will help you in that process.

And the reason why I wanted to do this is because I know that a lot of people struggle in this phase. Like if I can’t get you past this phase, I can’t talk about launching. I can’t talk about email list building. I can’t talk about brand building. I can’t talk about any of that stuff because you guys are still stuck in this one phase. So, that’s what I want to do here today is I want to get you through this first phase which is product discovery. Now, I need you to ask yourself this question though, do you want to sell a product or do you want to start a business? I’m going to let you think about that for a second because there is a difference.

[00:02:01] Scott: Now, either one is cool. I’m fine with it but there’s a different mindset, a different thing that we need to consider here. Because when you’re just out there trying to find a product to turn a profit real quick, you’re not really starting a business. It’s kind of like you’re out there a little bit of a side hustle which is totally cool. I’ve done it. Been there. Actually, I just did a YouTube video not that long ago showing my bridges that I was selling to put my kids through private school. If you miss that, I’ll link it up in the show notes to today’s episode which will be TheAmazingSeller.com/473. If you want to see that episode, I’ll put that in there for you. But, yeah, that’s what I did like I went out and I found some stuff that was selling on eBay and I went out and I found some product and I just went ahead and bought them for $25, $30. I think it was like $25, maybe $30 with tax and I was selling them for $130 to $150 at times. So, if you’re looking to do that, totally cool. You can do that.

But understand, you’re probably not going to go out there and go through like the entire process of finding a product and then trying to get that product to sell over and over and over again because that can be risky because usually you’re talking about trends or you’re talking about something that could be hot now and it isn't so hot or maybe a whole bunch of competitors comes in and you're kind of standing with one product. Like I don't really want to do that. If we’re going to do that, like I said, then go down the retail arbitrage model. Use that model like use that path.

And if you guys are brand-new and you don't know what retail arbitrage is, it's pretty simple. It's kind of what I was doing. And I didn't even know I was doing it back then. It's where you go out, you find a product that you can buy for like for my example it was $20, $25, $30, whatever it was, and I was able to sell it for $100. It turned a pretty good profit. Even with after eBay fees and stuff, I was pocketing some good money. So, you can find those products and there’s retail arbitrage. That’s what we call that. Online arbitrage is very similar. You just don’t go into retail stores and it’s what we call flipping products.

[00:04:04] Scott: I mean, it’s pretty simple. You find stuff you can buy low and you sell it high and you can sell that on eBay. You can sell it on Amazon. You can sell it on Etsy. You can sell it on all different platforms. It doesn’t really matter. All you’re looking to do is just flip that product. Heck, you can just launch it to your local Craigslist or maybe you’ve got an app there locally on a Facebook page that you’re tied to or that you’re using. So, that’s what you can do like so that’s fine.

What I’m going to be talking about more today is about people that want to start a business because I look at business or businesses as products like products that serve a market. That’s business. Doing like a little bit of retail arb or something, it can turn into kind of a business but it’s really hard to scale because you never know your inventory. You don’t know who your market is because you’re selling in across a whole bunch of different categories and we’ve talked about this in even like the open brand.

Like if you have an open brand, that might just be where you’re going to buy small runs and just test a whole bunch. That’s fine. It’s kind of like retail arbitrage. It’s kind of like wholesale. So, it’s totally fine. I’m not going to be talking about that here today. And this challenge is not based around that. What I really want you to do is kind of open your mind, forget everything else right now. Just forget everything else right now. Don’t worry about tools right now. We’re not going to think about tools. I don’t want you to get cluttered in the tool world where you got to go out there and think about, “Okay. I got to get a tool.” You might already have tools. That’s fine. You’re not going to use them right now. We don’t need to use those.

What I’m going to give you is something you can do. You can flush this stuff out and then also you can go through this process so this way here you can see if you can narrow in on a market and then we can start thinking about products and all that good stuff. So, if you’re cool with that, then get ready to play along and I hope that you do play along because it’s not going to cost you anything. Totally free. All you got to do is actually do the work. You got to take some action.

[00:06:09] Scott: One thing I would like you to do is I would like you to go through this process and then I would like you to visit the TAS Facebook page or the group and the link to this will be TheAmazingSeller.com/Challenge and just go there and I’ll tell you towards the end here what else to do but just go there and let us know after you’ve completed the 24-hour challenge, let us know how it felt. Let us know if you discovered some new opportunities that you weren’t aware of or maybe even just if it gave you a new way of thinking because that’s really what I want you guys to understand. We’re building a skill here. This is the skill set that you can use now or five years from now. It doesn’t really matter. You have nothing to lose other than to go through this process. But just do that for me so this way we can see who’s playing along.

The other cool thing that I’m going to do is I’m going to randomly pick a couple, maybe two, three different people, just randomly in the comments of that Facebook post and I will select three winners. I’ll do three winners and we’ll give away some t-shirts. Some Take Action t-shirts. So, that’s what you guys have to gain there as well so let’s have some fun with it. Let’s make this fun and let’s learn in the process.

This is exactly the same process that we’ve recently used to build a six-figure brand. It’s everything I do on a daily basis to be honest with you because I’m going through this process and then once I discover an idea whether it’s me stumbling on it and then I go and start digging into that market, or whether from that point I go ahead and I do a little bit more digging to see if it’s something I want to get involved in or maybe something else that I can add to a current brand.

So, what do you say? Let’s jump into these action steps. Let’s get right to it. Now, like I said, there are going to be some rules. Actually, there’s one big rule that I’m going to give you guys right now.

[00:08:00] Scott: Number one, forget everything else for the next 24 hours and just commit to this challenge. You have nothing to lose. All you have to do is commit to this process for the next 24 hours. And like I said, it’s not a constant 24 hours. You could make it that but you’re not going to. Just commit to a day to go through this process. Sit down, carve out a little bit of time and do it. So, action step number one is discovery mode. This is what we’re calling discovery mode. This is and a lot of people that I mention this to, they’re like, “Oh come on, Scott. It’s too easy. Like what are you talking about?” Just go through this process and just enjoy the process but just commit to this process.

Number one is your touch list and I talk a lot about this on my workshops or I talk about it just anyone that I talk to. I’m like, “Listen, if you don’t know where to start, you need to start with a touch list and the touch list has helped me find numerous products whether it’s in a brand that I’m helping someone with or if it’s my own personal brand or even the new brand.”

Now, what is a touch list exactly? Well if you guys don’t know, let me explain really quickly. The first thing that you want to do is you want to be writing things down that you are touching on a daily basis. That’s as easy as it is. Now, you are going to have different things come on your list throughout the year like things are going to appear. Things are going to happen and I’m going to go over a couple of examples here of how this can be but you are going to probably have new things come on your touch list because you are going through different things or something else just happened or you’re looking for something now because you’re interested in it, whatever, it’s going to change but right now just commit to writing things down that you touch on a daily basis. And the easiest way to do this is the minute you wake up in the morning, start writing things down. Yes. Writing things down on a pad, a paper, using a pen and then just write them down, every single thing you touch then you can go back to that list and you could start to dig into it and that’s where we’re going to go in action step number two but let’s just keep here for a second.

[00:10:05] Scott: So, your discovery mode is really just discovering ideas. Not necessarily even products. They are going to start with products probably but it’s going to lead us to finding markets or niches. So, touch list. Your passions and your hobbies, that’s another list. And then another list is your problems. Now, problems could be you just had a flat tire. That’s a problem. Put it down. You could have a problem that maybe you just had some knee surgery or maybe you’ve had chronic back issues for the longest time and you’ve been just immersed in like figuring this out and wanting to figure out how to make your back better or maybe you’ve learned a ton through this because you've been doing your own research and now you know there are different things that you’ve had to buy to help in that and now you could help other people. You could educate other people like all of that.

And we’ll get into that stuff once we get into that market but just understand that those things are potential products/brands that you could create. Another example here is my father had a hip surgery. He had back surgery, poor guy. So, he’s got some issues there with that stuff. He’s learned a ton learning through that process, so he could technically go out there and serve that market because he’s been in it. He is in it. So, every day of his life he’s going through this stuff and there are certain things that he’s had to purchase. There are certain things that help him manage his day better because of it. There are things that he’s had for rehab like all that stuff that I don’t think about necessarily because it’s not in my life. Well, it is. He’s my father and I hear about it but he’s in it. You know what I’m saying, right? Write that stuff down. Whether it’s you or whether it’s someone that you care about that has these issues that they’re dealing like you need to open up your mind to think about things that are happening in your world because your things are happening differently than this person over here or this person over here.

[00:12:04] Scott: Not everyone has the same issues going on right now. Maybe eventually but not right now. Same thing with passions and hobbies. There are things that you are passionate about that someone else might not be and, yes, someone could argue and say, “Well, people already play guitar. There are already people out there selling guitars.” Yes, there are but you could still build a brand in it because when you’re building a brand, it’s a lot easier to launch products once you figure out that you can build a brand and then start getting leverage by the other components of that brand which we’ll talk about here.

So, I just want you to open your mind here on the first action step and that’s discovery mode. That’s your touch list. That’s your passions, your hobbies, your problems lists. These are all lists that I want you to create. That’s step one. Just write them down, flush them out.

Number two, finding markets or niches. You want to look through your lists and find markets. Markets are basically everyone that is included in that thing. So, again, if I give you an example, I’ve got a bunch in here I want to give you in like groups and categories and stuff like that but like let’s just say, for example, I’m in fishing. Well, that’s a fishing market because people that are interested in fishing, we call that a market. Now, we could drill down a little bit deeper and say, “Well, I’m into bass fishing.” Now we just went down a little bit and we’ll talk a little bit about that more, but I don’t really want you to get too deep in that right now but understand we can go sub-submarket inside of a main market. So, fishing is kind of broad then we have ice fishing, we have deep sea fishing, we have bass fishing, we have fly fishing. It’s all these submarkets. And then I just kind of, literally, when I was putting together these notes, I just randomly just kind of threw out some of these ideas. We have fishing, cycling, runner like a runner, Jeep owner, knitting, softball, mechanic, chiropractor, skincare, podcaster, finance, piano, volleyball, kids activities, homeschooling, basketball, bowling, gardening, greenhouse, etcetera.

[00:14:15] Scott: Now, I just literally threw those out there as I was just thinking, “What can I give these guys as ideas of markets?” There they are and there’s a ton more. All right. Now, someone would say, “Well, Scott, what chiropractor? What do you mean?” You may be a chiropractor, or you may know someone that’s a chiropractor and you’re trying to get into this building a brand, an e-commerce brand. Well, if you’re a chiropractor, you know a ton about that market and you know that there’s a lot of different recovery things that have to be purchased and things that you could recommend that could potentially be your products.

I’ll give you another example. I was at a live event with a veterinarian and they specialize in doing surgery on these dogs. And they actually have a digital business where they teach other vets how to do these certain surgeries, but they are not selling any of the instruments. They’re not selling any of the accessories to help these surgeons do the work. And that was a big lightbulb moment for this vet like, “Wow, really? Like I could create my own products. I could customize them the way I want, make them my own and private label it.” Yes, you can.

So, it’s kind of like an eye-opener sometimes. So, if you are a chiropractor, if you are maybe a dentist, I actually have a neighbor that is a dentist and they were talking to me about this stuff and they’re very busy. Someone that’s a dentist or even a chiropractor, it might not be for you, but it was still kind of like a lightbulb moment for them because there’s a whole bunch that they could do especially because they have the expertise because they have their credentials.

So, again, just throwing stuff out there. You might know someone that is a chiropractor or a dentist or whatever. You can tap into that. Skincare, same thing. I’m not into skin care but you might know a dermatologist or someone else that's a dermatologist or maybe you are a dermatologist. So, you have an advantage. A podcast, I just threw that in there like I said, so like me I’m a podcaster and there’s a bunch of us out there. There are different things that we need and that we could serve that market.

[00:16:18] Scott: So, there’s a whole bunch that we could do here. We can go into this stuff. Homeschooling, I threw that out there because years ago when my 22-year-old when she was younger I think we homeschooled for a couple of years. I know people that do still homeschool and there are people around here that do and that's great but there are things that you need for homeschooling. There are certain things that you need to purchase. So, if that’s you. If you’re in that world maybe that’s you that’s listening right now, there’s a whole market there for you because you’re in it. You’re doing it.

So, there’s a whole bunch that you can do inside of these different markets. Now, these are just a handful. Like I said, I just kind of threw these out there. Things came top of mind for me. All right. I mean, my daughter is into volleyball. My son is into basketball. My father is into bowling. That’s kind of how I did it. I just kind of threw it out there. A chiropractor I know a guy down the road here, just met him the other week and we got talking and he’s a chiropractor. Skincare, I know someone that is a dermatologist. There’s someone that’s a dentist here. I didn’t even write that one down. There’s one.

A Jeep owner. I’m a Jeep owner now. I just discovered that market, wasn’t aware of it until I started looking for a Jeep. All of this stuff is helping me find markets so that’s action step two, find the markets. Go through your lists and start to maybe organize them or group them into markets or categorize them. However you want to do it, you probably want to create a little spreadsheet here. Use Google Drive. They have free service there for you to use so you don’t have to worry about learning any new software. It’s a spreadsheet and just go ahead and start listing all the stuff in there. Now I would say try to figure out your first choice if you could choose, what would be fun or do you know something that is or someone that is an expert in this market or maybe you are the expert in this market.

[00:18:10] Scott: Maybe you are a mechanic that works on the weekends on your car and you love it and you know so much about this and you would love to be able to, number one, show other people what you’re doing, maybe on a YouTube channel or something. And then from there, you could roll out your own products. Maybe it’s one of those towel things that goes over the fender when you’re leaning over working on your car.

There’s so much that you can do but you need to figure that out but if you have something that would be a first choice, look at that one first like why not try to do something that you’re passionate about? Why not do something that you could wake up everyday and be excited about? Like I know a lot of people say, “Well, don’t chase the passion. Chase the money.” I get it. We still have to figure out if there’s a market there that we can serve but why not try to have a brand that you genuinely have fun in or that you know something about that’s not going to be that hard to figure out. Okay. So, try to make that your first choice.

All right. Moving on to action step number three. This is what I’m calling validation drill down. This is where we’re going to choose one or two markets to explore or also niches. I just love saying that. All right. So, create that spreadsheet. Do that like Google Drive. Search on Facebook and YouTube. Let’s start with Facebook. Facebook, go there and type in something with group. So, fishing group, bass fishing group. Let’s say cycling group, running group, Jeep group, knitting group, softball group like just do that and start discovering. Start seeing if there is a Facebook group or community out there or communities. I’d like to see more than one. This allows me to validate that there’s a market here that are there, they’re talking, they’re consuming, they’re buying, all of that stuff can be done just with that simple exercise. That’s what we’re calling again, validation drill down.

[00:20:09] Scott: This is where we kind of see the market. Now, we said let’s go ahead and see if this is actually something that people are actually involved in. So, Facebook is a great place to do this. It’s great to actually drill in and see if there’s any groups out there or even fan pages.

Now, the next place I would go is YouTube. Now, YouTube is a great place for how-tos. So, just type in “how to fish” and see what comes up. “How to be a marathon runner” and put that in. Maybe “how to Jeep” and put something in there and see what comes up. If you can do the how to and there’s a market there for that that’s supplying this content to the market and you can see it’s got 100,000 views. They’ve got a subscriber base of 100,000 or 50,000 or 25,000 or whatever. This does two things. Number one, it shows you that people are out there searching for content around your market. That’s number one.

Number two, it also shows you that there are potential influencers out there that already have established their channel and they have people following them, they’re putting out content, and you could potentially partner with them or you could potentially reach out to them and say, “Hey, I’ve got these products I would like you to look at. Like to send them to you. Let me know what you think. If you could just review them,” whatever, or maybe they already have something set up where they’ll advertise for you but that is how you can instantly kind of tap into the market on YouTube.

Now, I would say if you have the expertise or if you know someone with expertise, start creating your own content on YouTube. But the cool thing about Facebook and YouTube is when we start to build our email list inside of our brand which, again, will give us leverage when we do want to launch our products on Amazon because we always want to launch on Amazon just because it’s our launchpad. That’s what we’re calling our launchpad. Then we can start selling outside of Amazon, but that email list will allow us to do our ranking and all of that stuff. We’re not going to get into that today.

[00:22:09] Scott: But that’s why we’re looking at this part. We’re looking at Facebook to find groups or pages and then we’re looking at YouTube because we can then align ourselves with these markets but we’re also validating that the market exists. And we can start to really listen in on the conversations in this market. Maybe you are into yoga and you go to a yoga Facebook group and you hear people talking all about what they’re doing in their exercise routines and what they wish they had or they’ve tried this product, but they wish it did this. There’s so much that you can do there. Now, is this going to require a little bit more work when you build a brand? Yes. But is it better for the long-term? Yes, yes, yes.

Now, the other thing that I would look at in this stage or in the validation drill down is are there products that they are buying? And are there three to five products that come right to your head? Did you hear that? That’s a snap of the finger. Did you immediately think like if I thought of fishing let’s say bass fishing, let's say a lure, a pole, a net, a vest, tackle box like that's right off the top of my head? I know there's more and if I even went a little bit further and actually did this before because we were actually on a class hangout and we discovered that there's a kayak fishing, a bass fishing group and that’s all they do. They do tournaments when you go into bass fishing tournaments, but you have to use a kayak. So, there’s going to be accessories for that market that wouldn’t exist if you’re on just a bass fishing boat. There are different accessories that need to be able to be useful on that kayak.

So, again, that’s how we’re exploring these ideas, but you want to be able to come up with three to five. You don’t want to be struggling going, “I don’t know. What would they buy? I’m not really sure. Hmm, they might buy that. No, I want it boom, boom, boom. I want to know that I can think of three to five products.” Now, don’t worry about right now the numbers. Don’t worry about does the number match up in Jungle Scout or whatever tool you’re using? Does it meet the criteria? Don’t worry about that right now.

[00:24:09] Scott: Right now, we’re just flushing out ideas. It’s like I can almost guarantee you, if you find that market that you can go into then you can find products in there with less competition that you could start with and then graduate to more competitive products because now you have the momentum. You also have the email list. You also have your social media platforms like all that stuff is built and then that way it’s going to make it easier for you when you launch those other products. So, we can gradually get into more competitive products, but we could probably always find something that’s low barrier to entry to get started with. That’s why I love doing this.

So, three to five products top of your head. Write those down. Make a list of all the potential products that they could buy. Just keep writing. The other thing is you might just want to go explore. If it’s on Amazon, see what’s frequently bought together. Go to eBay. Go to all these other platforms, Etsy. Go to your local big-box stores and see what’s in the aisle like go there and explore.

Again, this is your 24-hour challenge, so you will be busy. You got to do all this stuff, but I want you to do it. And you know what, if it takes two days, it takes you two days, but I wanted to give you guys like a time limit because I want you guys to do it. I want you guys to get in there and do it. I think you could do it in 24 hours. You just got to commit to it, right? I mean, you could wake up in the morning, do your touch list all day then at night or in that evening you can do finding the markets and then in the third part, the validation and stuff, you can then do that the following day. You’re within 24 hours. You can do it totally. Totally easy. You can do that.

Now, like I said, at this point, don’t worry about sales numbers or competition at this stage. We don’t care about that right now. We do not care about that. I don’t want you to think about that because I don’t want that to lock you up. Now, before moving on, because those are the three main action steps I wanted to do but before moving on, I want you to ask these questions. All right. So, pay attention.

[00:26:06] Scott: Now, again, I’m going to drop all this stuff in the show notes. You’re probably going to want to come back to this one, TheAmazingSeller.com/473. All right. Let’s talk about this. Number one, did I find a market? That’s a question. You got to ask yourself that. Did you or didn’t you? Two, is there people actively in these groups or publishing content on YouTube? That’s question number two. Question number three, are there three to five products that they buy or that they’re buying? Okay.

Number four, could I build an email list in this market? So, if they’re buying products then the answer to number four should be yes because you could just bundle those products together and use that as your giveaway or as your contest to attract people that are in that market to build your email list. We talked all about that in our build list workshop. TheAmazingSeller.com/BuildList. Again, I will drop that in the show notes.

Number five, are people consuming how-to or content-based information? Why is this important to me? Because when I build my email list, I want to be able to go out there and give people resources or content. I want to be like the reporter in my market to get started. I don’t even have to create my own content and I could give them value and show them that I am in this market and then I’m going to give them useful information. Then the other thing is I get good ideas of what people are paying attention to, maybe it’s a how-to on how to catch a 5-pound bass on this certain lure. Well, there’s a certain lure that it’s going to show me that that’s the product that people are buying because they want to catch this 5-pound bass. You get what I’m saying.

Number six, could I find influencers in this market? Again, by looking at YouTube or even Facebook, that’s going to allow me to see influencers and then I can answer that question. And the number seven, is this a trend? Is this something that’s just trending right now? Is this the next fidget spinner?

[00:28:05] Scott: Now, you could have a slight trend in a market that everyone’s trying to use a certain lure and then after a year it goes away. I’m okay with that kind of because I still have the market. I’m still going to be able to serve that same market. I’m going to do all that work to really build my brand. That’s just one product. It may fizzle. That’s okay as long as I’m smart about it but you want to look at trends overall and you can do that by looking at Google Trends and we’ve talked about that in the past as well.

And then number eight is, is this seasonal? Kind of similar to trends but that there could mean that bass fishing is really hot in the spring and it kind of dies off in the summer or maybe vice versa, whatever, but it’s still steady throughout the year. It’s just not much of a spike or as much of a spike as it is in those seasonal. That’s okay. I’m okay with that. It’s the seasonal stuff like Christmas, Halloween, like holiday-type stuff or seasons or maybe you have something that’s like a snow shovel that is going to be used if we get snow. You don’t want those in your brand unless you’re building out your brand and you understand that it is a seasonal item. You just need to be aware of that, but I would like that to be, no, it’s not seasonal. Is this a trend? No, it’s not a trend. I would like that especially moving forward.

Now, once you’ve answered these questions, then you can move on to product selection and what is the first product that you are going to launch in this brand? That’s what’s going to happen after this. But again, we got to get through this 24-hour challenge that I’m giving you guys before you can even move on to that next part because that’s what we’re going to start looking at the numbers. That’s what we’re going to start looking at the criteria, things that we’ve talked about in the past. We’re not going to get there until we went through this first initial three-part action step plan.

[00:29:52] Scott: Now, this is what I would say. Start here just to start discovering products or additional products. Start by, again, going to these platforms, eBay, Etsy, Amazon, Walmart.com, Alibaba, and AliExpress. Go there and just get ideas, not that you’re going to source any products, just for ideas. And then the last one is like big box stores like Target, Kohl's if you have them around you or whatever big box store, Lowe’s, Home Depot, depending on the market you’re looking at, a music store, fishing store, etcetera. You get what I’m saying, right? You want to go to those stores and actually look and see what they have that is surrounding that market. But look anywhere your market would shop. That’s what you want to do.

So, the 24-hour challenge starts right now for you if you’re interested, if you want to take action on this. There are no excuses. All you have to do is take action and do it. That's it. Nothing to buy. Nothing to download. You just got to do it. And like I said, you have nothing to lose. The cool thing about this though is you’re kind of like retraining your mindset or you’re getting the right mindset depending on where you’re starting in this process. Because when you come across another idea whether it’s tomorrow or a month from now, you’re going to go through this exact same process.

And I’ll share the Jeep story really quickly again if you guys missed it. I was in the process of looking for a Jeep. It wasn’t a year ago, but I did about four months ago. So, as I’m going through that process, I started being educated on Jeeps and the salesman was really educating me. He was telling me, “Oh, there’s all these groups, these meetups that you guys can go to.” Some people are really the ones that are kind of like decking out there, really like customizing the look of it, they’re not getting it dirty. And there’s some that are just getting the thing muddy as heck. So, there’s all these different like subgroups in this Jeep community but it’s kind of like its own little community. I’m like, “Holy crap.” So, I went home, and I went through this exact process to look and see, wow, is there a market? Are there Facebook groups? Are there YouTube channels? What are people buying?

[00:32:00] Scott: Like all of that stuff I went through that same process that I just shared with you here, but I didn’t have that on my touch list a year ago, but I had it then. All right. So that's kind of how it works. Now, the other thing I want to say is, just remember, that it is getting harder out there, yes, to build an e-commerce brand but if you only are launching on Amazon and if you're only focusing on one product then yes it would be hard. It would be harder. If you're building an e-commerce brand and you're going into this thing for the long-term play, to me, it's worth the work. And to me, that will be here. Because when you're building a brand, you are leveraging your assets like an email list, like your social media that you’re building. You’re building all of that stuff and then that way there, you have so much more leverage than anyone else that’s coming into the market especially people that are just coming in and thinking they’re going to go on Amazon. They’re going to find a product. They’re going to launch it and they’re going to be a millionaire. That’s not going to happen. And if it does, it’s going to be like really short-lived.

The other cool thing is when you’re building a brand as you can find targeted audiences that you can take Facebook ads or YouTube ads and you can target those people. That’s the other cool thing because we know who they are.

All right. So, let’s get to it. Let’s kind of wrap up here. I also want to give you guys an announcement here feared that we just decided to do which is kind of right along the lines of what you just talked about. But before I do, I want you guys to do this challenge. I want you guys to go to TheAmazingSeller.com/Challenge and I want you to let us know how you did. How did it feel? Did you discover things? Did you find it hard? What did you find hard about it? What did you find easy about it? Was there a lightbulb moment that came about? I want to hear. I want you guys to be involved with each other. I want you to help each other but I also want you guys to go there as another part of this challenge to check in because it’s kind of like an accountability thing. I’ve given you a timeframe to do it in and now we’ve given you a place to check in.

[00:34:04] Scott: So, TheAmazingSeller.com/Challenge. I’m going to be selecting three winners randomly. Out of those comments, I’m going to be giving three shirts away. They are our Take Action shirts for all of you guys out there that are take action people which I think a lot of you are so definitely go check in on that page, TheAmazingSeller.com/Challenge.

So, here’s what I want to announce here today. This is something that’s been in the works for the past probably two, maybe even three months. Myself and my team have been really thinking hard about how we can help in this phase. What can we do to get people through this phase other than this 24-hour challenge? This was the first part. And that will get you started and some of you is just going to get you through that phase and we’re on to the second part of the product selection phase which that might be all you need and that’s cool. But what I wanted to do is create something that we’re calling now our product discovery boot camp.

Now, depending on when you’re listening to this, it will be the first class that we do will be in beta meaning it is going to be live. It is going to also be us going through this entire process. It’s going to be a four-week training. Week one we’re calling product discovery mode. Finding products that lead us to markets. And we’re going to actually be going through live examples of us doing it, myself and Chris Schaffer. Week two will be market drill down. Again, we’re going to do exactly what I shared here but we’re going to go really deep. We’re going to show you looking over our shoulder how we’re doing it and giving you real examples because a lot of people need examples. Week three, product and market validation. This is where we’re going to be choosing potential winners. And then in week four, we’re going to be doing final validation and this is where we’re going to be sourcing our samples but also looking at sourcing to see if it even makes sense. Because part of the validation process is can we even source a product that will come in at a price that we can sell it for and still make a profit? So, that’s another part. That’s like the final validation piece.

[00:36:05] Scott: And then from there, we’re going to be able to make that decision. Do we move on or not? Do we go back at some of our other markets that we could potentially go into? So, that’s what we’re going to be doing. If you are interested in attending and joining us in this product discovery boot camp depending on when you’re listening to it, you could head over to ProductDiscoveryBootCamp.com. It is going to be totally affordable, but you are going to be able to go through this entire process. And after week four, you should have a market selected, you should have a product selected, and you should have a sample in hand. That is the goal. And we want to get you through this process and this way here you understand exactly how we do it but then how you can do it as well and then also it’s training you to be able to do this over and over and over again.

So, again, if you’re interested, head over to ProductDiscoveryBootcamp.com. If it closed by the time you listen to this, just hop on the early registration list. We will be opening it up to the public after we get through this first round so depending on when you’re listening to this, it may already be open, but it may not as well. So just go there, ProductDiscoveryBootCamp.com if you’re interested in joining us in this four-week training and I would love to see you there and going through this entire process with us. I’m really, really excited about this product discovery boot camp. Super excited. Can’t wait to get started.

All right, guys. So, again just to recap here, for this 24-hour challenge. Here are the action steps. One, your discovery mode, your touch list, your passions, your hobbies, your problems list. Create those. Do those. Two, action step number two, finding your markets. Look through lists and find the markets. You can group them, you can categorize them. Again, writing them down, things like fishing, cycling, running, Jeep owners, knitting, like you get the idea. All through that, start creating those groups and categories and try to figure out that first choice that you would love to be building a brand around.

[00:38:10] Scott: Then three is the validation drill down. This is where you’re going to choose one to two markets to explore. You’re going to create a spreadsheet, Google Drive. That’s an easy way to do it. Search on Facebook and YouTube to see if there’s already groups and channels out there actively in that community, in that market. Are there products that are already selling and are they already buying three to five? They should come really easy to you right off the bat. And then make a list of all the potential products that they could buy. Just keep writing the list and do not worry about competition. Don’t worry about criteria. None of that stuff at this phase. And when you get done, head over to TheAmazingSeller.com/Challenge and let us know that you did it and let us know how it felt. All right. And let us know if you had some lightbulb moments there. Love to hear that as well.

All right, guys. So that is going to wrap up this episode. Remember the show notes and the transcripts can all be found at TheAmazingSeller.com/473 and you can grab them all over there. All right, guys. So that’s it. That’s a final wrap. As always, remember, I’m here for you, I believe in you, and I am rooting for you, but you have to, you have to, come on, say it with me, say it loud, say it proud, you know what I’m going to say, take action! Have an awesome amazing day and I’ll see you right back here on the next episode.

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