With product innovation being a key pillar of the brand, the line needed to set the standard in mechanics tools at its launch.
Once we defined the strategy and positioning we created the complete in-store presence—the Kobalt name, identity design, product design, packaging, merchandising, and graphic design guidelines. As most of you will be well aware I’ve done a lot of affiliate marketing over the years, selling digital products, physical goods and also selling leads too. Creating your own product is more work than affiliate marketing, there’s no doubt about it.
If you’re not an expert on any particular topic you can outsource this to someone who is, or you could interview people who are experts and turn your interviews into a product, in the form of an ebook, audio or video product. Most people think that creating your own physical product is only for giant companies with lots of money. Private labeling is BIG business, and it means that small players can get their product inexpensively and focus on the marketing.
Getting your own brand developed is not hard, all you really need is a logo designed which you can get done over at Elance pretty cheaply.
Once you have your own brand like this, you are free to market it anyway you want, which is great, as often when selling another companies brand you are restricted in the way you can market it. Gotowebinar is expensive but I have heard that there are more affordable options these days for webinar software, so it pays to shop around. Camtasia on the other hand allows you to record your screen, which is helpful if your product revolves around teaching people things that rely on visual aids to show people what you’re doing. Once you have a digital product ready, the easiest way to make it available is to use Optimize Press in conjunction with Wishlist Member WordPress plugin.
There are a number of advantages of having your own product, of which I listed a few at the beginning of this post. If you own your own product you can get affiliates to send traffic, you can use Adwords (as long as the site does not look like a long sales page), and if you’re doing physical goods via private labeling you can even get other retailers, such as ecommerce stores or even offline stores to stock your product and sell it for you, I do this myself and it works well. I write about various topics to do with Internet Marketing and strive to provide the best free resource for people wanting to develop online businesses. I find that starting with PLR content, then developing it is a good way to create your own products. Very good and interesting post and I like the idea of private labeling, but I am curious about the legalities as to responsibility if something goes wrong, and in that case how do you protect yourself.
Interesting thoughts, however physical products with private labels need initial funds and then storage, sending, etc and trusted suppliers.
All well and good Matt but you have to admit that creating your own product when you have no list is a bit of a bother. I do okay strategizing web presence and services for stick and brick businesses but could use some ideas about how to create my own product without a list of eager buyers of IM products or competing with the hucksters on the Warrior Forum. Does that mean a separate Membership site for each product or are you able to include related products you have created in one membership and define access by the level of the membership? Don’t know if the videos can be edited to private to make them accessible only to people with the video link that you could provide inside a membership site. Matt, any sites you recommend for finding manufacturers of products that could be self branded? I am getting in to lead generation (and I understand that email capture is one aspect of the process) but I would like to know how you track leads who call your client direct from your lead generation site? I have my own brand of products, and it’s doing quite well recently, but still am very reliant on SEO. Matt, Thanks for the post and thanks for your sound advise since I came on board IM in August 2012. Looks like you can do just about everything with it including sales pages,squeeze pages and membership sites. I am just getting into selling physical products and I like the idea of getting a logo made and having it put onto the product. My first product has been a bit of a disaster due to shipping costs, but I am now looking for alternative products, rather than scrapping the site, as it is ranking well and getting quite a lot of visitors. A really good option I’ve been noticing is where people write a book and give a way the first chapter as a free gift for opting in. Have a physical product in a tee shirt business I partially own.Any other suggestions or ideas on how to market this type of business online.
This is something that is pretty new to me since ive been going more affiliate marketing but as you said there is more control and more money to be made as the owner. As a very entrepreneurial orientated guy who would like to successfully secure and enjoy a life prosperity and freedom through creating different ways, methods or mechanisms of earning residual income through doing the things that I really admire and enjoy to, I am looking to learn from both offline and online Millionaire Entrepreneurs. You have actually moved into being a true entrepreneur with respect to full retail distribution. Another great post Matt, however I have seen a lot people get in hot water for not copyrighting their own products – which is illegal in some countries for PLR.
SummaryThis post does what its title says: It shares my recommendations for creating an agile product strategy using the Vision Board. Traditionally, a product strategy is the result of months of market research and business analysis work. This iterative approach, pioneered by Lean Startup, provides several advantages: First, it helps you develop a strategy built on empirical evidence rather than on intuition, authority, or influence. The term product strategy means different things to different people, and strategies come in different shapes and sizes.
For an introduction to the Vision Board, please see my post a€?The Product Vision Boarda€?.


Your initial Vision Board has to be good enough to create a shared understanding of your vision and initial strategy and to identify the biggest risk so you can start re-working your board. The product vision is the very reason for creating your product: It describes your overarching goal. Choose a broad vision, a vision that engages people and that enables you to pivot a€“ to change the strategy while staying true to your vision. Try to come up with a motivating and inspiring vision that helps unite everyone working on the product. You can find more information on formulating a compelling product vision in my postA 8 Tips for Creating A Powerful Product Vision. Once you have captured your vision, work on your strategy by filling in the lower sections of the Vision Board from left to right. While ita€™s tempting to think of all the people who could possibly benefit from your product, it is more helpful to choose a clear-cut and narrow target group instead.
Working with a focused target group makes it easier to test your assumptions, to select the right test group and test method, and to analyse the resulting feedback and data. If you identify several needs, then determine the main problem or the main benefit, for instance, by putting it at the top of the section. Once you have captured the needs, use the a€?Producta€? section to describe your actual product idea. Use the a€?Valuea€? section to state your business goals such as creating a new revenue stream, entering a new market, meeting a profitability goal, reducing cost, developing the brand, or selling another product.
Once you have captured the business goals, state the key elements of your business model including the main revenue sources and cost factors. The Vision Boarda€™s simplicity is one of its assets, but it can sometimes become restricting: The Product and the Value sections can get crowded as the board does not separately capture the competitors, the partners, the channels, the revenue sources, the cost factors, and other business model elements. You should therefore review your initial Vision Board carefully, identify its critical risks or leap-of-faith assumptions, and select the most crucial risk or assumption. If you find that the key risks and assumptions hard to identify then your board may be too vague. Your board may significantly change as you iterate over your strategy, and you may have to pivot, to choose a different strategy to make your vision come true. You can learn more about creating an agile product strategy and working with the Vision Board by attending my Agile Product Strategy and Roadmap training course.
Weekend mechanics, guys working on their cars at home, bought the Craftsman brand at Sears. The brand was designed to look of the highest quality, with hints of Swiss or German heritage, as if it had been around for years.
This has and continues to be very lucrative for me, however what I’ve been focusing on more over the past 6 months is selling physical products and in particular creating my own products.
You can set up an affiliate sites in a few days, however product creation does take more work, BUT the payoff is much larger so it’s worth it. You can package up knowledge and experience in a niche and create your own product out of this.
I recently saw someone do this in the natural dental care industry, where they interviewed a bunch of well respected natural medicine experts on the topic of natural tooth care, and they turned this series of interviews into a product. They buy the supplement from a wholesaler and provide them with their label artwork and the supplier attaches the label and ships them the products as their own brand.
For example some companies don’t want their brand sold on Ebay or Craiglist etc… Whereas where you own the brand you call the shots! Two tools that I have used for years in doing this are Camtasia Studio for screen recording and GotoWebinar for webinars. Webinars are great as they allow you to interview an expert, and it provides them the option to do a live presentation as well which makes the content more interesting than just plane audio. These two tools will allow you to set up a member’s area using WordPress, and they are not hard to use either.
One of the best things is that unlike a lot of affiliate marketing websites, you don’t have to rely on Google SEO to make money.
For example a subscriber of mine recently contacted me and explained that he had started to make $6000 a month from affiliate marketing and was very happy, and in fact left his day job. It doesn’t have to be the only way you make money online, as I still do affiliate marketing, but it is a nice way to add an additional revenue stream to your business.
Build an online business with my free 12 part internet marketing video training course now! I am now working on one physical product, its hard but you know you are in command of everything from small details to big.
Are there special addendums that you can add on to the sale of the product that protects you???
Personally, I would prefer dealing with the female beauty, modeling and fashion related fields, however I would consider any hot niche markets and products to happily engage with on the basis of implementing the modern internet marketing strategies and techniques that you are currently benefiting from. It addresses readers who want to find out more about using a product strategy in an agile, dynamic environment and readers who want to get better at using the Vision Board. Second, it enforces fast failure and minimises the risk of following the wrong strategy and launching a product that bombs.
Invite the key people required to develop, market, sell and service your product and the senior management sponsor.
Choosing an altruistic vision, a vision that focuses on the benefits created for others, can help you with this. Start with the a€?Target Groupa€?, the people who should use and buy your product rather than thinking about the cool, amazing product features or the smart business model that will monetise the product.


Describe the users and customers as clearly as you can and state the relevant demographic characteristics. If it turns out that you have picked the wrong group or made the segment is too small then simply pivot to a new or bigger one.
State the three to five key features of your product, those features that make the product desirable andA that set it apart from its competitors. The point is not to describe the product comprehensively or in a great amount of detail but to identify those features that really matter to theA target group. This is particularly important when you work with a new or significantly changed business model. There is no point in worrying about the marketing and the sales channels or the technologies if you are not confident that you have identified a problem thata€™s worthwhile addressing. But ita€™s only the beginning of a journey in search of a valid strategy, as your initial board is likely to be wrong. Determine the right test group, for instance, selected target users, and the right test method such as problem interviews. If thata€™s the case then narrow down the target group, select the main problem or benefit, reduce the key features to no more than five, identify the main business benefit, and remove everything else. If your Vision Board does not change at all then you should stop and reflect: Are you addressing the right risks in the right way and are you analysing the feedback and data effectively? BOLTgroup conducted months of quantitative and qualitative research to determine the best brand positioning, product design features, and identity elements for the aspirational mechanic. After establishing the in-store presentation, we took to winning the hearts and minds of consumers outside the store.
What I will share with you now is the benefits of creating your own products and the various ways you can go about doing this.
At the end of the day it’s not that hard to create your own quality digital product.
The unfortunate thing that happened to him was that the merchant he was affiliated with decided to stop their affiliate program one day, and overnight he lost all his income! Your name makes it much easier to attract affiliates and your list…well, we all know about having a list.
Also creating a few nice landers to start sending adwords traffic to it to pre sell the salespage. Not only is there more control over where you going with your product line but it seam to work better on Amazon as well. But in an agile, dynamic environment a product strategy is best created differently: Start with your idea, state the vision behind it, and capture your initial strategy. Third, it avoids carrying out too much and too little market research;A itA helps you do just enough research to acquire the knowledge you really need. I have designed it as the simplest thing that could possibly work to capture the vision and the product strategy.
Such a workshop generates early buy-in, creates shared ownership, and leverages the collective knowledge and creativity of the group. For instance, the idea for this post is to write about creating an agile product strategy, but my vision is to help you developA awesome and successful products. While both aspects are important, capturing the users and customers and their needs forms the basis for making the right product and business model decisions.
If there are several segments that your product could serve then choose the most promising one.
What problem will your product solve, what pain or discomfort will it remove, what tangible benefit will it create?
I find that if I am not able to clearly describe the main problem or benefit, I dona€™t really understand why people would want to use and to buy a product. When capturing the features consider not only product functionality but also nonfunctional qualities such as performance and interoperability, and the visual design. After all, you have based the board on what you know now rather than extensiveA market research work. Carry out the test, analyse the feedback or data collected, and change your Vision Board with the newly gained knowledge as the picture below shows. Taking the role of brand manager, we placed Kobalt tools in the hands of trade magazine editors, celebrities, and mechanics, giving the brand word-of-mouth buzz, and high levels of awareness and respect. This is obviously devastating and I really felt for this guy, however that is one of the risks you run when selling another companies product. Then identify the biggest risk or the crucial leap-of-faith assumption, address it, and change and improve your strategy. Whata€™s more, it leads to many diverse needs, which make it difficult to determine a clear and convincing value proposition and therefore to market and sell the product. Today Kobalt is a multi-hundred million-dollar brand—the most successful proprietary brand in the store. It’s limited compared to Camtasia in terms of editing etc but I’ve done hundreds of recordings and the 5 minute time limit stops you from rambling on!
I believe that the company that created Jing has just discontinued the Pro version and is pushing Snagit, which does the same thing, but better.



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Comments to Tools for creating product roadmap

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