Sell your idea before you create it

The story goes like this...Joe Karbo wrote a killer ad for a book titled "The Lazy Man's Way To Riches." He placed it in the classifieds and got a big response! So...he then went and wrote the book. He actually had to refund money to the initial purchasers because he didn't have the book to deliver.

But how amazing...he knew he could sell it! How would that change your mindset in putting your product or service idea together? How would your spouse feel if you first proved there was a need and people confirmed they'd spend money on what you were offering? How would you view start up costs?

There is a lumber mill in my area that sells hand peeled aspen logs, 8' long by 6" diameter, for $35. I own an aspen grove with aspens almost 24" in diameter and 50' long. So I set my 14 year old son to work on hand peeling them so he could sell them. I decided to have him chip in for the cost of a $60 sander to use on them. Then my wife stopped us. She said, "Hey, before we have Caleb fork over money on tools for this little business, why don't we list the logs on craigslist and see if there is a real market for them first?"

Rule number 1 - marry someone really smart.

Rule number 1.5 - marry someone really good looking, it will help temper your ego flare ups when you get one-upped by them...

Rule number 2 - find buyers for your idea before you spend any time or money on it

The bad stats on business start-up failure are full of people who massively devoted themselves to developing ideas that they thought were great, only to fail in selling them later.

So got an idea for a product or service? Research where and how it's being sold now. Figure out how you can set yourself apart to offer it differently, better, tweaked for a niche. If it doesn't exist, find out why. Make sure it's a void that folks want to fill, instead of a void that is there because nobody really cares.

Create a compelling brand name and maybe even an electronic graphic of the product or service.

Then...find a channel to test market it in. Did you know there are people who devote themselves to creating products solely for Wal-Mart to hopefully take interest in, order and distribute?

We should all approach our businesses like that. Put a skeleton to  your idea and then go to work test marketing that idea.

Example: A long time ago while in conversation with my Dad and some other family members...while criticizing some rules, the quote was thrown out, "Rules are only guidelines for incompetent people." Not sure if my Dad actually quoted it, or if it was a group effort. But I think that's a hilarious quote and would make a great t-shirt. That's the first of many family quotes I have written down that I think would sell on t-shirts well, though would probably decrease the number of people who actually like us.

Normally, someone wold take an idea like that, spend copious amounts of time researching t-shirt manufacturers, printers, work on a website, and many months and dollars later be looking for that first sale.

And it doesn't happen. And your friends and family roll their eyes. It happens every minute.

However, in this little t-shirt example, you could use Microsoft Word...wait...I'll do it now and time myself. OK, took me 6-minutes flat to make this graphic in Word. And I'm graphically challenged. Now we take it and find a market. eBay we could try. But even better, I'm looking for a big audience that enjoys contrarian views. There are many. Now go pitch the shirt to them. Check with a local retailer. We could make a list of places and entities and research the viability.

If we can't find interest in our little idea (like my t-shirt that I think is funny) then we haven't invested too much and we can go on to something else. Chances are we'll have learned during the process, and probably come up with other ideas. Or in the process, had another opportunity open up to us. All positive things and far better than "building it...and they DON'T come."

Go find buyers and promoters for your product or service idea first. THEN build it.

Comments

[chris]

Rule 1.5 one to live by.

Like the quote.

[Andy Traub]

Kevin, your wife is smart. You are too. Nice post.

[Peter Brissette]

I am curious to know if your son had a good response on craigslist???

This is one area that is a huge mistake by most people starting a business. They dont take the time to do the research to make sure that 1. there is a market for it. 2. that you have the wording correct for people to buy it 3. that you have everything in the product or service that people actually want and 4. that you have refined the sales process enough to know that it actually works.

Well thats my 2 cents.

Peter
http://www.cctv-security-camera-systems.com

[Craig Bradshaw www.SouthernHospitalityConsulting.com]

I love it!!! Great Blog!!

[Tammy Raderstorf at www.timeforachef.com]

Great idea...I'm currently in the midst of spending a little too much time developing my service before I find out who wants it! Thanks for getting me back on track! I'll be posting this on my forum at USPCA.net for personal chefs to read.

[Polly Scott]

I know someone who would love that shirt. It's their mantra.

I think it's always great to marry someone smart - even for us women. The guy in my life sees things from the unemotional side of things which helps keep me balanced.

The shirt, however, should be red with white letters. It's a little more bold like those who would live by the mantra.

Polly Scott

[Jim Ingham]

Great idea--I am not especially into T shirts, but I see no reason why a good number of people would not love this!

[wendy]

Great thinking tactic... thanks for sharing. I've not done a thing (other than ponder my idea a bunch) and this would be a way to find out if there were much interest. The premise is not a 'global' thing for my business, but filling a local service need on as-needed basis for mom/pop businesses... so Craigs List might help to see if anyone responds. hmmmmm. Now that I'm completely UNemployed once again.... there's much to be done (if only the confidence were there- be VERY grateful if you have a spouse to support you! I have no one- and that hurts all my ambitions, unfortunatley)

[Denita]

Great blog, thanks for sharing. I like the t-shirt idea but probably wouldn't buy one.

thanks, Denita

[Brian O'Keefe]

Great advice Kevin. As someone who is trying to build a brand and using t-shirts as my main product, I'll add that there are plenty of companies that will print and ship t-shirts on demand, without producing any up front and without the concept creator having to spend any money at all. Check out Spreadshirt.com, or CustomInk.com, or Zazzle.com, etc. It's a great way to vet an idea for free AND be able to sell immediately. The key is in the marketing. Once the concept is proven, then move into buying, printing, and shipping t-shirts in bulk to get higher margins.

[Vanessa Stewart]

This is a great reminder of the work that we should do first before investing too much in an idea that might not work in the market place. Thanks for the great insight!

Since I own a business that designs and prints t-shirts, I have a couple of tshirts that I made that have sayings on them. One of my favorites is "Excuses are tools of incompetence used to build monuments of nothingness. Those who use them seldom amount to anything." by Stephen Grayhm. My other favorite is "How can you expect to make a difference in the world if you are afraid to be different?" by Rev. John I. Jenkins, C.S.C., President of the University of Notre Dame. When my husband and I wear these shirts out and about, we always get comments on them. They are great conversation starters.

Because of the reaction that we have gotten to the above quote shirts, I have been thinking about creating a line of shirts with various funny or thought provoking sayings on them. I will take your advice and see if there is a market for these before making up a bunch of these shirts.

Thanks,

[Mark]

How about some custom variations available like, "Government Rules"...

[Steve Berkey]

Kevin,

I love the idea and your blog. It's funny that you were thinking about the t-shirt idea. Jody and I have been tossing the t-shirt idea around as a vehicle to educate athletes. We are researching the dry fit market and altering the "no pain, no gain" saying. By combining an injury prevention video with a shirt might increase awareness.

Thanks again for your thoughtful blog.

Steve

[wendy]

Kevin,

Great blog!! That is what I am doing with the day care idea. I am not spending money on baby pack-n-plays, cribs, toys and books until I know if anyone is interested in me using the service. Someone is always selling their items, so if I have a client and need to start in a week -- I could do that. Currently, that is not the case. So, the only money I am out is $7.50 for the business name bought from Missouri secretary of state and $6.50 for child proof home items (which wouldn't be bad to have installed for my friends children safety when they are over).

I feel I am heading the right way -- just being very cautious prior to investing money into items I won't need till I have my own children.

Blessings! Wendy

[Rob Clinton]

This makes perfect sense...Great Post! Thanks...