The Biggest Product Mistake You Can Make

Product Selection Criteria

The basic challenge of Ideas Marketing is to leverage your idea. And, one way you can do this is to create a product. They allow us to express our ideas, earn more money and build our reputations without us being there to deliver the benefits in person.

When creating your products choosing the right one at the right time is crucial. It’s a bit like knowing your place in the food chain. At the bottom are simple ideas with simple designs that give you a little leverage. As you move up the food chain your products can become more complex and so does the design cost and effort plus the leverage you receive.

The factors that determine where you are on the product food chain include:

  1. How much money you have to spend
  2. The depth and format of your IP
  3. How you deliver your message
  4. The quality and size of your client base/audience.

The biggest mistake you can make is to choose a product that doesn’t fit your food chain level.

For instance when you start out you might love to have a custom designed board game. And, this is simply not going to work. You’re not realistically going to be able to afford it, you won’t have the quality and breadth of ideas to base it on and you won’t have the client base in place to take advantage of the end result.

 

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