5 Questions To Ask Before You Purchase Any Product

One  of  the  exciting  things  about doing business online is the  rapidly changing    landscape.    There    are new  technologies,  new  tactics,  and new   products coming onto the market daily. It’s a constant parade of new offers.

But  do  you need the latest and greatest offering? Or   will   it   just become  “shelfware?”  Here  are  five questions to ask yourself before you purchase the next product that arrives in your inbox.

1.   Does   this   fit   my   business model? If your primary business model is split between consulting and selling your own info products, you  may not need the “hot” new  Private Label  Rights product. Regardless of how easy it sounds, how much passive revenue you can earn or how few copies are left, it doesn’t  fit  into your business model. Skip it.

2.   Is  this  truly  a   time-sensitive offer?   Scarcity, a  very  limited quantity, or short time limit, is one of the most effective means for closing a  sale, so it is often used in online sales letters.

A “real deadline”  is the  early  bird  price for a conference or the start of a teleseminar series. And while “the price goes up at midnight” may be compelling, don’t buy just to beat the deadline.

Buying something you don’t need or don’t have time to use will cost more in the long run  than what you  would  save  on  beating  the deadline. One of  the techniques I use is to print  all sales letters that interest me.

Then I read them away from the computer where I can’t click immediately. This delay helps the rational thinking process and avoids that panicky clicking.

3.   Do  I  have  time  to  implement this? If you can see an opening in this week’s schedule that gives you time to  read the ebook, relabel the product, watch the videos and take the resulting action, then it  might be a good product to purchase.

But most people 1) don’t set aside time to implement in the first 48 hours after purchase and 2)  may  consume  the  materials, but fail to take action. This is how “shelfware” is created!

4.   How   will   I  implement   this? A  well-written   sales  letter   will provide  enough  detail  that  you can write a plan for  consuming the product and taking action. Will you need to learn a process?

See how  many hours  of  videos  are provided , then double that time for  learning  the  material.  Look at the length of the  ebook, then based  on  your  reading  speed, figure out how long you’ll need to consume it.

Then  take  a further  guess  at  the number of hours you will need  to take the action. You don’t  want to walk around as a Smart  Marketer who knows a lot. You want to be a Rich  Marketer…and  that  requires action.   So   at   least   double   the learning time for the action phase.

Finally, write out your plan. Once the first rush of excitement has passed about  all  of  the  great  “stuff”  you have bought, you  may  forget why you invested in  it. So while you’re really excited about it,…before you…click  the order  button…have  your written plan ready.

5. What’s   the   return   on    my investment?  It’s  not  just  your money,  it’s  your  time.   What else will you be  neglecting  to implement  this  new  product? What will that cost you, both in terms of rest and relationships?

If you fully follow your plan and invest the hours you know you need   to   properly   implement it, how soon will you see the increase in revenue (or decrease in expenses)?  How much    can    you    realistically expect  to  earn? 

Now  divide that by the number of hours in your  implementation  plan. Is it worth it?

While  these  questions  won’t  stop you   from purchasing the tools and knowledge you need  for your business, they will help  you avoid excess  purchases  that  leave  you feeling   guilty   and  overwhelmed. Be an “Action Consumer.” Resolve to  never  purchase  again  without answering these five questions.