Let’s Recap What You Need To Do
- Number One: Identify your market.
- Number Two: Determine if you can provide a solution.
- Assuming the answer is yes, you’re now ready to go.
At this particular point, you need to start off with some basic elements. We’re talking about a product that could potentially make you a million dollars over the course of the next year or two. So, what do you do? Well, the answer is very simple.
Let’s assume you find a problem that you can address. You know you can provide a solution. You now have to look for a name for your product. Before you even go and create the product, you want to name the product. Why? Because the name helps dictate what I’m going to include in the product. The name can also dictate the direction that I’m going to go with branding for the actual product.
Let’s take a closer look at two important attributes of the name.
- You need a unique name.
- You need something brand-able.
If you’re looking to make a substantial income with a particular product, you need to give it a unique, brandable name, something that people can easily identify with. You also need to make sure it’s easy to say, easy to pronounce. I know that sounds a little funny, but you don’t want people fumbling over words when they talk about your product. You also don’t want to name your product something that unintentionally sounds silly, or the initials spell something negative.
For example, when I named my Big Seminar event, the initials were B.S., and we all know what else B.S. means. I am much more careful now. I didn’t really think about the initials at that time. I chose Big Seminar because it was short and easy to remember. It was easy to say and spell, and oh, it was available at a reasonable price.
Once I have a name in mind, I go to GoDaddy, or wherever you buy your names, and do a search for the domain. Let’s use, “yourname” for this example. I type “yourname” into the GoDaddy search box to see if it is available with a dot com (.com). This is important, you want the .com! If “yourname”. com is available, at the basic price, you buy it right then.
A lot of times “yourname”.com is not available. What do you do? Do you get the dot net (.net)? Preferably not. The dot org (.org)? Definitely not. Dot biz (.biz)? No way! How about Dot info (.info)? I can actually live with .info.
I’ll look for the dot com or dot info versions. If my name is not available, I will look at the suggestions GoDaddy gives and see if one of the alternative name will work. Once in a while, you may find a good one there.
If you’re still unable to come up with a good “.com” or “.info” name you can do a “whois” search in Godaddy or go to www.whois.com and see who owns the name. Their contact information will be listed (unless they have it registered as “private” in which case it probably will not be for sale.) and you can contact them and see if they are willing to sell it. You should always first type the name (i.e. www.yourname.com) into a browser and see if they are actively using it. If they are not using it, they may be more inclined to sell it at a reasonable price.
Another place I search is the auctions—places like auctions. godaddy.com list names that are for sale via auction and you bid on names you want. There are also places where you can outright purchase names, but these usually carry prices that range from premium to outrageous. At that point, it’s time to go back to the drawing board for a new name.
That’s it for part one of High Ticket Items. Look for part two next month or if you can’t wait, feel free to skip ahead and look in the Marketing Library of your membership area at my Marketing Formula Course (Chapter 5).