BOTL
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- Jul 15, 2014
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Hi guys!
This is my second thread so I'm still new. Forgive me for any errors.
I'm asking if there's any of you who's had trouble monetizing an idea.
What I'm worried about is the following...
1. You have a great idea
2. It meets a need
3. You build it or build a business around it
4. You put it out there
5. NOBODY BUYS IT (or not enough do)
I was particularly concerned about this. For example, from TMF :
"Some of the greatest books in the world go unread, while the mediocre stuff sells millions. The difference lies in marketing, public relations, and just good old-fashioned business know-how."
OTOH, there's a school of thought that if your product/service meets a genuine need, then word-of-mouth essentially seals the deal. And that marketing for the most part (e.g. advertising, offers) is a mostly useless attempt for 'convincing' others to buy a substandard product.
Even MJ mentioned this in an interview with Jamie from Eventual Millionaire.
"It also works for books, which is mainly the way I've sold tens of thousands of books, by being a product centered book versus "Oh, I have to market on Facebook to sell this. That's the only way I can sell it." No, that's not the way it works. You have to be centered. Product centered is based on a great value or a solution that is clearly defined, or a product that just really kicks butt."
So how to fix this conundrum?
And have any of you struggled with this or solved it?
This is my second thread so I'm still new. Forgive me for any errors.
I'm asking if there's any of you who's had trouble monetizing an idea.
What I'm worried about is the following...
1. You have a great idea
2. It meets a need
3. You build it or build a business around it
4. You put it out there
5. NOBODY BUYS IT (or not enough do)
I was particularly concerned about this. For example, from TMF :
"Some of the greatest books in the world go unread, while the mediocre stuff sells millions. The difference lies in marketing, public relations, and just good old-fashioned business know-how."
OTOH, there's a school of thought that if your product/service meets a genuine need, then word-of-mouth essentially seals the deal. And that marketing for the most part (e.g. advertising, offers) is a mostly useless attempt for 'convincing' others to buy a substandard product.
Even MJ mentioned this in an interview with Jamie from Eventual Millionaire.
"It also works for books, which is mainly the way I've sold tens of thousands of books, by being a product centered book versus "Oh, I have to market on Facebook to sell this. That's the only way I can sell it." No, that's not the way it works. You have to be centered. Product centered is based on a great value or a solution that is clearly defined, or a product that just really kicks butt."
So how to fix this conundrum?
And have any of you struggled with this or solved it?
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