How to Make Money Selling Your Own Products

how to make money selling your productBe it offline or online, creating and selling your own products can be a great way to make money as an entrepreneur. There are many successful people who have created and gotten results from various products in various fields but it appears they all use similar formulas and if properly used, these same formulas can help you take your product from zero to stardom.

Unlike many of you will think, creating a successful product is not only about you having a great idea or a solid product development plan, it involves far more than that and following the tips in this post you should be able to successfully make money selling your own products.

1. Focus on Your Idea

While your idea is not all there is to building a successful product you should also know that an idea can determine the success or failure of a product.

Focusing on your idea is not only about having a solid idea but testing it to make sure it can stand the test of time. We have all gotten one big idea or the other and we will always get more great ideas but there are several factors that will determine if your idea will be worth it or not. One of those several factors is the uniqueness of the idea. While it is often very difficult to get a completely unique idea you can make your idea more worthwhile by giving it a unique spin and by having a USP that differentiates your business from every other business.

Your idea is only half the game though, yet you shouldn’t rule out the importance of having a great idea. Try to have a view of the results other people with the same idea as yours are getting, try to know if your idea is viable or if it is one of those few ideas that can’t work. It is better to be safe than sorry, you’ll be better off with the little pain that comes with researching an idea than wasting months or years on an idea destined to fail.

2. Put More Effort into the Development Phase

Many entrepreneurs get it right with the first step, they have a great idea ready to market yet they still fail when it comes to building a successful product. Your idea can be great but the first impression you give customers about your product will go a long way to affect your success.

You shouldn’t expect any result if all you do is rush a product to the market to make some quick cash because most products of such nature end up being a complete failure. Your product represents your brand and business and it can also determine how it is accepted.

When it comes to product marketing what matters most is not only the quality of your product but how you present it to your audience. After all, what matters most is not what you think about your product but what your potential customers think about it. If you have a great but poorly packaged product you’ll end up leaving an impression of a poor product with your audience.

There are several phases of product selection (when it comes to customers) and two major ones are recommending a product you have used and recommending a product you have not used. I know the latter sounds ridiculous but I have witnessed it several times and a major factor that influences how your customers perceive your product is how it is packaged.

3. Connect with Your Audience’s Mind

Many people create great products, they put time and effort into packaging and presenting it and they have a robust marketing plan yet they can’t get their products off the ground.

A lot of entrepreneurs create products they keep on blabbing about, they will give you a million reasons why it is the best and they will tell you how they put a lot of effort into making it the best but they won’t tell you what matters most, they won’t tell you what is in it for you, their audience.

A great step to getting people to take action is by connecting with them, you have to let them know they can relate with you. I wouldn’t buy any product from just anybody, because I want the best, and telling me which of my problems your product will solve while going a long way to prove your saying with “real live” examples will go a long way to influence my buying decision.

There are a lot of products in the market already and a great way to stand out is by making your potential customers feel connected with your product. Help them visualize their problems and let them know why your product is the best solution for them.

4. Develop and Build a Great Brand for Your Business

The power of a great brand should never be underestimated and the brand of a company can affect the audience’s view on its product. A very important aspect of your business you should spend more money and time on is building a great brand. When it comes to building a great brand you should also realize that the images and objects associated with your brand have a great impact on how it is perceived.

Try to increase exposure for your brand by using various forms of advertising for it, depending on your advertising medium you can also have a specific image associated with your brand.

It is far easier to destroy a brand than it is to build it. You can spend several years and several thousands of dollars to build a great brand but it only takes a day (even less) to destroy it. Build a brand and always do your best to make sure it is protected.

5. Utilize the Power of Marketing

So many entrepreneurs spend a large chunk of their time creating value-packed products, they put a lot into packaging it, yet, they neglect a very important aspect that leads to product success, which is marketing their products.

You can spend years on creating great products yet get nobody to buy it if you don’t have a solid marketing plan. Effective marketing has to do with knowing where your audience can be located and going there to do business with them. The fact that every other person says a marketing method works is no guarantee it will work for you…you have to locate your own audience.

Many people don’t have success with marketing and that is because they have the fundamental problem of not knowing who their audience is. You won’t even get far if you don’t know who your audience is so if you don’t, get something done now!

6. Play the Networking Game Well

If you’re yet to know, succeeding in business has a lot to do with whom you know than what you know. If you know everything about a field but you don’t know the influencers in that field there is every probability you won’t go far.

As a blogger who get a lot of emails there are emails that I get that makes me smile, these emails make me eager to want to reply and they make me eager to want to know more and connect more with the sender. A major networking rule these emails follow is that they think about me…which is all I care about. Let’s be sincere with ourselves though, you will be eager to get in touch with someone who cares about you than someone who doesn’t.

Networking shouldn’t be about you only; it should also focus on other parties involved.

There is what I call “natural networking” and there is what I call “selfish networking“. Natural networking is the art of networking with someone with that person in mind while selfish networking is the art of networking with someone with only you in mind. Influencers easily detect the “selfish networkers” and give them little to no attention while giving the “natural networkers” special attention. Play your game well!

7. Collaborate With Others

Collaborating with others who have the necessary skills and resources can also be a great way to achieve success for your product. For example, you might want to work with someone who has an audience already; this will make it easy for you to get your product in front of many people with little efforts.

When trying to collaborate you should make sure your collaboration brings about mutual benefit for both of you, none of you should be at the losing end. You should also make sure you keep contact with your partner while being ready to clarify things when need be.

Feel free to share this post with others if you love it, the buttons below are very handy.

About the Author

Onibalusi Bamidele is the 17 year old founder of YoungPrePro. Follow him on twitter here.
  • http://webmaster-success.com Kharim Tomlinson

    These are some really solid tips that you have here Onibalusi. I like point #5 especially which states, Utilize the Power of Marketing. If you don’t put this point in play then you won’t be able to market your products well.

    Thanks for the points in this post.

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Kharim,

      I’m glad you loved the post.

      Also, thanks so much for the retweet and stumble. I really appreciate it!

    • http://mazakaro.com Rahul

      I agree with you, itâ??s not only utilizing the power of marketing but also the time. Itâ??s also other way of having an extra income aside from employment.

  • http://nabillionaire.se Nabil

    I’m releasing my own e-book in 2011. You better watch out ;)

    • http://www.ultimatetrafficformula.com Onibalusi

      How I’m I sure this is not a spam comment? ;)

      • http://nabillionaire.se Nabil

        Cuz it’s not. I’m a human being! And I will be starting to make money on my own products soon – hence telling you that :)

        • http://www.ultimatetrafficformula.com Onibalusi

          Looks like spam though, no reference to the post…just like an ad ;) – maybe that’s how I think ;)

  • http://www.megabizflakes.com Samuel

    Awesome post bro. A product with no effective marketing is a lame product. Those products with little value sell more than the products with great value. Why? It’s simply because they utilize the power of marketing. So plan an effective marketing plan for your product. Thanks for sharing. Have fun.

    • http://www.ultimatetrafficformula.com Onibalusi

      Exactly Bro,

      Marketing is key!

  • http://howtostopunderarmsweat.net/ John@Excessive Underarm Sweating

    Onibalusi – Great tips on how to properly sell your own products. I liked when you said this “what matters most is not only the quality of your product but how you present it to your audience”.

    I agree, the first impression of your product certainly has a huge impact on how successful the product you created will be down the road so it is important not to rush and take your time.

    When it comes to creating a product I think most people get intimidated by the process, and I am no different.

    However, I really think that I will try luck with developing my own product in 2011 so wish me luck. These tips you have given has certainly given me some confidence that I can do it. Thanks for the tips.

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi John,

      I’m glad you loved the post.

      I wish you the best with your product launch in 2011 :)

  • http://nokiax6.webnode.com/ christiaan

    Very useful points raised about product selling and marketing. It will help and create a lot of ideas for new comers.

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Christian,

      I’m glad you love the comment.

      Thanks so much for commenting!

  • http://aroundsocial.com Jojo Mathews

    Very well written post Onibalusi, Definitely helpful for person wishing to sell own products online…

    • http://www.ultimatetrafficformula.com Onibalusi

      I’m glad you love it :)

  • http://www.leakedinfo.com Rael

    Great Points. Launching your own product requires a lot more effort than promoting someone else’s product. With someone else’s product half the work is already done for you.

    • http://www.ultimatetrafficformula.com Onibalusi

      Exactly!

  • http://www.benjaminlang.com Ben Lang

    Cool, I really want to make my own product, just haven’t had the courage or time. Thanks for sharing your tips Oni :)

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Ben,

      It’s been a long time :). How’s everything going with you?

      I’m glad you loved the post.

    • http://www.internet-earner.com Olusegun

      Hi Ben,
      Product creation is a great phase but make sure you figure out how to market it well.
      Mr Filsaime once said it’s better to sell a mediocre product that solves problems well than to sell a great product tha solves problems well in a mediocre way. Every mediocre product can be improved with earnings from its sales and people’s feedback.

      So, Just Do it.
      Cheers

  • http://unlockthedoor.net Stuart

    Wow, this is so informative, I’m really impressed Oni!

    I particularly like No. 6: Play The Networking Game Well. This is very true if you want to find a balance between being nice and being ruthless, as both styles have their ups and downs. Thanks Oni!

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Stuart,

      I’m glad the post could help.

      Yeah, networking is highly important when it comes to building a successful product.

  • http://www.simplebutcreative.com Kevin

    I hope to sell my own products one of these days. Networking with others is the way to go. Good informative post!

    • http://www.ultimatetrafficformula.com Onibalusi

      I’m glad the post could help.

  • http://www.internet-earner.com Olusegun

    Valid points.
    I love product creation and marketing. The remainder of the year and 2011 will be devoted to doing that majorly.

    Nice post

    • http://www.ultimatetrafficformula.com Onibalusi

      Cool Bro,

      I’ll be happy to see how everything goes.

  • http://bankersdiscussiongroup.com ayotunde

    This is a highly valuable post for me at this particular time. I have a product ready but seem to anxious about getting it to be successful. I am trying to dot the i’s and cross the t’s.

    I think I can use these tips as a guide and just get going.

    Thanks so much.

    For all your banking questions, join Nigeria’s only forum for bankers at http://www.bankersdiscussiongroup.com/forum

    • http://www.ultimatetrafficformula.com Onibalusi

      That’s cool. I wish you success with your product launch.

  • http://www.InternetEntrepreneurConnection.com Hector Avellaneda

    Great tips Oni!

    I think that ultimately when it comes to products and ideas you have to make sure there is a market for what you are offering. You can have what you believe to be the best product or idea but if there is no market for it, it will be an inevitable failure.

    This is similar to my example I write on Successful Internet Entrepreneurs Identify Their Customers First.

    In this article I gave an example of creating a time machine! For all intensive purposes, time travel would be the biggest breakthrough in human history (i.e. Your Product). However, if no one is willing to take the risk of traveling through time due to uncertainty of being able to return home to modern day successfully, the product itself would be considered a failure.

    Of course, this is a hypothetical, and I would even go on to say exaggerated, example. The take-away here is that you can have all the marketing, all the connections and everything else in place. However, if you don’t go through Market Research (MR) or the Customer Identification (CI) process, you can be setting yourself up for failure even before you get started and not even know you did anything wrong.

    Once MR and CI have been laid out, everything else mentioned here falls right into alignment.

    • http://www.ultimatetrafficformula.com Onibalusi

      Exactly Hector,

      You have to make sure there is a market for the product you’re offering and at the same time you should focus on learning solid techniques to market to them.

  • http://www.oxagile.com/ Anna

    Before focusing on your idea I think one should analyze the market carefully and find your niche – the sphere where you can create something really interesting and where there are not so many competitors. Or add some characteristic to the existing product to make it the best of the similar ones.

    • http://www.ultimatetrafficformula.com Onibalusi

      That’s true, Anna. There’s no point creating a product where there is no market.

  • http://www.danlew.com Dan Lew @ Affiliate Marketer

    Hey Oni,

    A very well put together post like always! I think one of the most important aspects of having a successful launch is by networking with the right people. You can sell ice online if you have the right people and marketing behind it, anything is possible!

    Dan

    • http://www.ultimatetrafficformula.com Onibalusi

      Cool Dan,

      I love your point and it made me smile…so true! What matters most isn’t what you know but who you know ;)

      • http://www.danlew.com Dan Lew @ Affiliate Marketer

        You can have the best product in the world but if you don’t have the right people behind the marketing, nobody will ever know about it :(

  • http://www.semmyonlinemarketing.com semmy @ Make Money Online

    Onibalusi Hello, I am very impressed with your writing. I see you be a guest writer on a well-known blogger! Starting from maxblogpress to problogger.net. congratulations once again

    • http://www.ultimatetrafficformula.com Onibalusi

      That’s great to hear, Semmy.

      I’m glad you loved my blog.

  • http://www.asittingduck.com David Edwards

    Nice Post!… I discovered your website from @problogger…

    For two years I focussed my efforts on building a brand before launching a product. Next year I’m looking to launch a product!…

    Thanks

    David Edwards

    • http://www.ultimatetrafficformula.com Onibalusi

      That’s cool to hear David. I’m glad you loved the post.

  • http://rocketvip.ru/ RocketVIP

    Awesome post

  • http://www.gipplaster.com Gip @ So Much More Life

    Hi. I’m just learning about your blog today, thanks to ProBlogger. Nice job. I started writing very young, too, then I detoured through a couple of other careers and have now returned to writing and online marketing. My simple living blog So Much More Life is what got be back into writing.

    I’ll be following you closely now.

    Gip

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Gip,

      That’s great to hear and I really appreciate it. It’s really cool to be able to start young.

  • http://www.aspricot.com/ Web Designing Indore

    Great tips and information, specially the “Put More Effort into the Development Phase” and collab section..

    • http://www.ultimatetrafficformula.com Onibalusi

      Exactly! I’m glad it helped.

  • http://www.intellectsoft.co.uk/ipad_applications_development.html iPad Application Development

    Great tips, thank you! You’ve mentioned every detail needed for building a successful business selling one’s own product. I would add that an entrepreneur should not underestimate the power and the importance of marketing and advertising while selling a product. Whatever good is the product, you won’t sell it without a good marketing campaign and proper advertising.

    • http://www.ultimatetrafficformula.com Onibalusi

      Yeah, marketing is highly important. Your product has no value if it is not being used.

  • http://www.ayushiinfotech.com raje

    This point is very nice
    Connect with Your Audienceâ??s Mind. in all business we need to concentrate very much in this area. if audience come to know about service our business will be surely success..

    • http://www.ultimatetrafficformula.com Onibalusi

      Exactly! I’m glad you got my point.

  • http://www.ticketluck.com/concert-tickets/Andre-Rieu/index.php Andre Rieu

    i agree with you here. you have cleared some of my views and given me some new ideas. i want to start my own online business one day and will keep these small tips in mind. thanks for sharing this good piece.

    • http://www.ultimatetrafficformula.com Onibalusi

      Great Andre,

      I’m glad my post could help.

  • http://www.programming-training.com/ learn java programming

    i am also using the same technique fro promoting my own and client business

  • http://greenteaace.com/ Green Tea

    I agree, the first impression of your product certainly has a huge impact on how successful the product you created will be down the road so it is important not to rush and take your time.

    • http://www.ultimatetrafficformula.com Onibalusi

      Your first impression is the most important thing as it is what will determine whether your audience will accept the product or not.

  • http://www.artisanalcheese.com Gourmet Cheese

    Just like every other businessman, I want my own business to be successful so I am really very thankful that I was able to read this post. Thanks for all the tips that you shared. I think what I’ll work on now is to collaborate with others. I might as well work herder on marketing my products. Good job!

    • http://www.ultimatetrafficformula.com Onibalusi

      My pleasure. I’m glad you loved the post.

  • http://www.yourdigitalspace.com/2010/12/40-high-resolution-desktop-wallpapers-for-windows-linux-mac/ Swamykant

    I believe marketing is the most important task. Nice post once again.

  • http://biotechnology-zone.blogspot.com Jenny

    I completely agree. It not only utilizing the power of strongmarketing but also the time. Focussing on strong marketing helps in getting more sales.

    Regards,
    Jenny

    • http://www.ultimatetrafficformula.com Onibalusi

      I’m glad you got my point, Jenny!

  • http://www.bailoutmycareer.com Carl Mueller

    Hi Onibalusi

    I just came across your site today and loved this article. I have only created one product to date but it was a good learning experience. Your point #5 about marketing is the one that stuck out the most for me. If you create a product, how are people going to know about it? Same goes for a website. You can build the best content in the world but if no one knows it exists and can’t view it, it really doesn’t matter.

    Carl

    • http://www.ultimatetrafficformula.com Onibalusi

      Hi Carl,

      That’s really great to hear. I’m glad you found my site useful.

      Thanks so much for the awesome comment!

  • JASLEEN DAVID

    Online earning is not an older concept I know personally many people are earning from online forums. However according to my personal experience I have used http://www.utubeonlinejobs.org they are paying in time.

  • http://www.larissaphotography.com/blog TJ McDowell

    A couple of your points in the article mentioned thinking from the perspective of the other person, and that’s key to success in any area of your life. There are some really smart people who haven’t gotten ahold of this concept yet, or at least haven’t put it into practice. Until you put it into practice, it won’t do you any good.

  • JASLEEN DAVID

    Yes you are right but according to my own experience I am working with freelancer they are providing me daily tasks with 100% assurity of payment. I am happy to be a part of freelancer

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  • http://makingnetmoney.com making money

    One good way that you can brand your own product online is by using Google Adwords, and using the option to pay per thousand impressions instead of the pay per click ;) Spend a couple grand there, in a couple months your product will be noticed by all in that niche and eventually start converting if you got a good sales pitch and product.

  • http://bonefracturetreatment.com/ Bone Fracture

    In your Niche, it all comes down to networking and list building. Show flashy stuff, give away free information, collect emails and build lots of trust. Than sell and upsell your products to your people. Many Internet Marketers take it to the next level by sharing their lists. Internet Marketing has become a dirty game. But I am happy for you that you’re able to make so much money at such young age. All the best.

    Jane

    • http://www.youngprepro.com/about Onibalusi

      Thanks Bone :)

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  • Yeli

    I loved your post! I am starting to lauch my online business and I have this master idea, product, my brand. It’s like I know where I’m starting and I know where I wanna go. I am 24 years old and I having been working on this for two years and now I’m finally ready to start.. Besides, I’m a business student. Although I’m excited to start, I’m not in a rush because I know that quality, packiging, effective marketing in audience is the most important. I care to reach my audience to supply them with what they need. Thank-you so much for this information!