Thread by @ronaldnzimora

How To Create (or Find) A Hot Product or Service and Make Millions Selling It

#Thread.

You want to make money with your proposed business?

Before you even think of an idea, there are things you must be mindful of.

1. Choose an industry or sector that you will enjoy, genuinely want to help in or wouldn't mind working in.

In order words, choose an industry that wouldn't make you want to put a gun in your mouth and blow your brains out.

An industry is just a collection of different pockets (markets) of people.
I was privileged to know the late Mr. Isaac Durojaiye, founder of DMT Mobile Toilets.

He told me about how he tasted shit the first day he started that service (story for another day), but I asked him why choose to pack people's shit. He said he genuinely thought he could make a difference in the way people relieved themselves.

Choose an industry that is...

evergreen, an industry that will always be around no matter what.

2A. Call/contact up to 100 people in that industry and ask them what their biggest problems are.

Many people won't call 100 people, because they will be lazy. They will only call 3 people, get no answers and...

give up saying, "Nobody wants to help upcomers".

Seriously, call up as much as 25 - 100 people in that industry - CEOs (as much as possible, let majority of them are the owners and decision makers), managers, staff, even security men. You'll be amazed at what you'll learn.

Through this process you'll find the biggest problems and trends within that data set,and they'll literally give you the biggest hot buttons and sales angles directly from the horse's mouth so to speak. This is the key to creating an irresistible offer and a potent sales message.

2B. When calling (you can also meet them 1-on-1, or email them) use the following script. "Hi, my name is Jide Okoro, from ____ (name of school) or research company ____, and I'm just gathering some primary data on __XYZ__ industry.

I'm wondering if I can ask you one question about your business. I just need two more answers and then I'll be done, can you help me out?"

If they say, "Sure."

"What's the number one problem you're facing in your business right now?"

Usually, they'll tell you everything.

Be sure to write everything down and find the trends. Then take the trends and problems that appear/occur the most in that data set and build a business around solving that problem.

If they say, "No", beat it and move on to the next person.

If you're using email, go to Google and look up a chrome extension called "Hunter" (has a little orange fox icon). Install it in your chrome browser. Then plug in any company's website in,click on it and it will find all the emails associated with that domain. Then sieve through.

Here's the link to "Hunter" - chrome.google.com/webstore/detai…

3. Identify and Pick a "Thirsty", "Hungry" and "Starving" Audience with a SPECIFIC problem within that industry.

There are groups of people with the same specific type of humanly - solvable problems, needs, wants...

challenges, dissatisfactions etc - who are "salivating" and desperate to get a genuine solution. For example, everybody wants food, but everybody do not want to and will not eat at the same kinds of restaurants.

Who do you want to sell to?

Say you're selling food, who should you target? Single bachelors who hate cooking? Or divorced men? Workers?

Choose a market that is easy to reach out to, either on social media, and especially via paid ads.

Make sure they have money to spend.

There's nothing worse than trying to sell something to folks who can't afford it.

Think about this: Coscharis isn't lining up their brand new cars at Berger Underbridge trying to get you to buy them.

The target market you choose MUST possess the willingness and ability to...

spend in order to get the solution they crave for. For example, you have people who have "hair loss problems", "wrinkle problems" etc.

Choose a market that is always growing, meaning, as more people in it die, more are being born who will need it eventually.

For example, people are always going to shit. People are always going to eat, have sex, want to look beautiful, etc.

4. Start Building a Highly-Responsive, Rabid, Highly-Targeted Buyer's List of people in that target market looking to solve that specific problem.

You have to...

create and set up an effective system of getting these "thirsty", "hungry" and "starving" audience into your fold so that you can relate with them on a personal level... build rapport, build a solid (business and sales) relationship based on trust. Building a list is simple.

All you need is to come up with a highly valuable, free gift/offer, then create a simple landing/squeeze Page with your email opt-in form and get your Killer Free gift/offer up on the Landing/Squeeze page.

Then send Massive TARGETED Traffic to your landing/squeeze page.

Once your landing/squeeze page TARGETED visitors see your FREE offer and it captures their attention and interest (which it must),they will put their contact details in the optin form to get the free offer and more stuff from you.

When they subscribe to your email list, then...

you just have to build instant rapport with them, get them to trust you and then get a solid (business and sales) relationship underway.

Another way to do this is by starting a Facebook group or LinkedIn group. Building an email though is 1,000% times better.

5. Create a "Hook-Them-By-The-Neck"... "Unrefusable"... Highly-Irresistible Offer

Now you have an idea of the pain points in the sector,you need to figure out how to solve it.

What kind of product or service can you create?

DON'T DO THAT YET.

What you do is create your OFFER.

If you had all the powers in the world, what would you offer to the best of your current expertise and ability as a solution.

Write it down. Then scale back to what you can actually deliver for the price you're asking for?

Make it enticing, so good, the person seeing it would want to buy it or feel like an idiot if they miss out on it.

Present EXACTLY what your List want to ACTUALLY buy in a unique way that will get them to buy.

Period.

6. Create the product or fashion out the service

You see, this is last.

Amateur business owners try to do it first.

Nope. You do it LAST because it's not the most important one.

Do NOT assume that people will buy what you think they'll buy. Let them tell you what they want...

and then based on the pain points you uncovered earlier you then create or source the product/service.

Depending on type of product/service,you can either create it yourself, partner with someone who'll create it, outsource the creation or source it from abroad if its physical.

Carefully pay attention/listen to the people in your LIST as they'll always tell you EXACTLY what they want to buy.

Your business will really flourish and grow when you pay attention to what your list tells you,and you maximally use the information they give you in a unique way.

6B: Get paid and smile to the bank.

6C: Make one business profitable and have it going steady. Then rinse and repeat.

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Thanks for reading.