Compared to the various online businesses I've built, I think I have a formula for generating new ideas that sell easily. I will share it with you today.
This is a 3 steps formula:
1) Find a market with many readily available buyers.
2) Identify the range of hot selling product within the market.
3) Consider an innovative solution to beat that limit.
If you follow these 3 steps, you will be ready to start with innovative ideas that will easily become a successful business.
Let me give you an example of how this 3 steps formula works.
In the 90s, someone came out with a viral lead building system, called the safelist system. In this system, everyone within the system was ready to send email to everyone else, hence the name "safe list". When it first started, everyone was excited because suddenly, everyone could reach thousands of individuals. Although, they did not realize that there was an equivalent time, they were receiving thousands of emails from other members too!
In 2000, John Reese, a well-known Internet marketing guru, had a better idea. He thought of cephalists and network systems. In their novel system, members could send email to 10 of their members. So instead of receiving thousands of emails, each member will receive a maximum of 10 emails. But they could still email thousands of people to their networks.
John's system filled the problem of email of members with thousands of emails. However, members in the system still have to receive emails from their 10 uplines in the system, which is still a lot for many.
Solution? Or my solution?
I took John's system and combined it with the contextual advertising system (example of contextual advertising is Google AdWords).
Instead of sending emails to members, members of Leadsleap will only receive news-filled newspapers from me.
The twist is that the newsletter comes with advertisements from upline. A member, while reading a newspaper, may also see relevant advertisements. He can click on advertisements if he wants or ignore them completely because they are absolutely unobtrusive.
The original Leads did the same in 2008,It offered a good solution to the current problem at the time. This was a unique selling point. That is why when it was launched, many people supported it.
For years, I continued to identify other limitations in the market, thought of better solutions and incorporated solutions. That is why LeadsLeap is now full of innovative features.
Each of the innovative features in LeadsLeap could be turned into a new business on its own. But I chose to include them in Leads Leap to strengthen Leadsplay's market position.
If you follow the 3-step formula above, then creating an innovative idea becomes an instant success.
In the 3-step formula,
the most important step is step 1. The market should be filled with hot buyers so that your product can be sold easily. Furthermore, it should be easy and cost effective to reach buyers.
I made the mistake of building a business in a market where it is very expensive to reach a buyer, Do not make such a mistake.
