Like many people, you have probably had an idea and gotten really excited about it, but something gets in your way before you can do something about it. Maybe it’s something as simple as family coming over for dinner. It could be the phone ringing. It could be previous engagements that you had.
Whatever the case may have been, you weren’t able to work on that idea immediately in order to get it started. Therefore, it just kind of melds in your mind for a little bit. Then, when you started to work on it, you aren’t as excited about it as you once were.
Sound familiar? Has this happened to you?
Don’t worry—it is a common occurrence in the product creation process. The problem is that when a situation occurs it can cause setbacks. With these setbacks come issues. It starts you thinking things like, “Is this worth it? Am I on the right track? Am I doing what I need to do?”
Those are common thoughts in everyone’s minds. The way you overcome that is with speed. If we can get it moving fast, we’re going to stay excited about that project.
When we are excited, our enthusiasm carries on and is contagious to other people. We can get others to rally behind us and help finish this product whether it means working with a programmer or working with a joint venture partner, a co-author of any type of product—momentum makes it easier.
Speed is of the essence, especially in the online world. Here’s what I mean. In the online world, everyone has ideas. I think that statement can be agreed upon.
So when you come up with an idea, there is an extremely good chance that someone somewhere in the world has that exact same idea. It’s a matter of who’s going to come to market first with that product. If you are the first to market that product, you gain the lion’s share of the profits.
A classic example, is a product that, years ago, I was.a co-owner of called AudioGenerator™. I was developing a similar product that’s name was NetVoiceBox. I had been working on it for six months when I got wind of Rick Raddatz’s product, InstantAudio.
Rick and I did not know each other, but I had heard through the grapevine that he was getting ready to release his product. I went to his website because there was a pre-launch, and I subscribed. I looked at his product and thought it was pretty good.
I was forced to make a decision because the product I was working on was inferior to what Rick had already created. I could release my product the way it was, but quite honestly, I didn’t sleep too well with the idea that night.
The next morning, I got up and decided that instead of me trying to go head-to-head with Rick there might be something we could do together. I’m pretty good at marketing, and he’s pretty good at designing.
Ultimately, we became partners. We released the product and and its peak we had thousands upon thousands of customers and over 75 million audio files that we served every single month online, and it’s all due to the fact that I acted fast.
I was able to essentially make lemonade out of a very bad situation for me because I’d worked six months developing a product not realizing someone else had done something so similar. You will have the same thing happen if you are developing products to sell online. It’s not uncommon.
If you act fast and overcome the setbacks you can find a way to make all of your efforts profitable.