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Trying to come up with an idea of a new product that can make you rich is everyone's dream. The reality of it is there are very few ideas that actually work. For every successful venture, there are thousands that fail. That being the case, why not use product creation to take something that is already selling and turn it into something more successful?
You don't always have to be the first with something in order to make the most money from it. Look at the different versions of the same product that are presented in infomercials all the time. What makes Sham Wow sell more than Zorbees? The product is exactly the same, but the way they are marketed makes all the difference.
There is nothing wrong with seeing something that is already out there and then putting your own twist to it to make it profitable. As long as you are not using their specific name or content, it is all fair game. If you are more effective at promoting the product and make the package more attractive, you can be the person that reaps the fruits of the labor.
Product creation can of course be about inventing something new, but why risk putting time and money into something that has not been researched and may not have a large market. By creating a different style of product that is already out there, you can cash in on something that is a known money maker.
The home remedy market is something that is a great example of this. There are so many sites that are literally selling the same thing, but very few of them are making a lot of money. The successful ones have marketed the product and presented it in a way that makes it more attractive to everyone. That being the case, they are the ones that are making all of the money.
It is not a different product, but they are presenting in a package that makes it seem like something else. When you do that, people tend to think that this is something better than what the other guys have when in reality, it is just the same old thing with a fancy wrapper. If you do that, you can be making money while everyone else is still trying to figure out what they are doing wrong.
You don't always have to be the first with something in order to make the most money from it. Look at the different versions of the same product that are presented in infomercials all the time. What makes Sham Wow sell more than Zorbees? The product is exactly the same, but the way they are marketed makes all the difference.
There is nothing wrong with seeing something that is already out there and then putting your own twist to it to make it profitable. As long as you are not using their specific name or content, it is all fair game. If you are more effective at promoting the product and make the package more attractive, you can be the person that reaps the fruits of the labor.
Product creation can of course be about inventing something new, but why risk putting time and money into something that has not been researched and may not have a large market. By creating a different style of product that is already out there, you can cash in on something that is a known money maker.
The home remedy market is something that is a great example of this. There are so many sites that are literally selling the same thing, but very few of them are making a lot of money. The successful ones have marketed the product and presented it in a way that makes it more attractive to everyone. That being the case, they are the ones that are making all of the money.
It is not a different product, but they are presenting in a package that makes it seem like something else. When you do that, people tend to think that this is something better than what the other guys have when in reality, it is just the same old thing with a fancy wrapper. If you do that, you can be making money while everyone else is still trying to figure out what they are doing wrong.
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