What works for me is thinking about the products I or my partner use. Can we think of an improvement, or a simplification perhaps that leads to increased ease of use? Any new product we make must be better - or appear better - than the existing product. We never try to compete on cost grounds.
Try and think of different ways to make revenue from the same product. E.g. We sell software to create websites to individuals for a monthly subscription price. But we also recently started selling licenses to hosts so they can offer it as a free package for their customers. So we were effectively bulk-selling to a customer and also cutting our support costs as we'd only be dealing with the one host rather than all of his clients.
Top 7 Ways To Get New Product Ideas: 1. Solve an existing problem for people. There are thousands of problems in the world. Create a product that can provide a solution to one of those problems. 2. Find out what the current hot trend is. You can find out what the new trends are by watching T.V., reading magazines and surfing the Net. Just create a product that's related to the current hot trend. 3. Improve a product that is already on the market. You see products at home, in ads, at stores, etc. Just take a product that's already out there and improve it. 4. Create a new niche for a current product. You can set yourself apart from your competition by creating a niche. Your product could be faster, bigger, smaller, or quicker than you competitor's product. 5. Add on to an existing product. You could package your current product with other related products. For example, you could package a football with a team jersey and football cards. 6. Reincarnate an older product. Maybe you have a book that's out of print and is no longer being sold. You could change the title, design a new front cover, and bring some of the old content up to date. 7. Ask your current customers. You could contact some of your existing customers by phone or email and ask them what kind of new products they would like to see on the market. Source: http: // Top7Business.com/ ?expert=Larry-Dotson
IAmEncore Peon Join Date: Nov 2007 Posts: 6 Try and think of different ways to make revenue from the same product. this is an awesome idea and works really well, i strongly recommend it, it is above all easier and quicker to create more revenue out of an old product rather than create a whole new product
I had also something smiliar question in my mind.. Ended up reading this thread and now I feel strong man!!
This is specific to software or digitial goods but the subtext is the same you might find it helpful - developer-resource.com/how-to-determine-what-software-to-develop.htm
To make a product, you first have to have a group of people who want to buy it. If you don't have anyone to buy your stuff then you've not got a business.... so the first step in creating a product is to first find people who have a need for something. To do that, just check out existing marketplaces and see what's selling. That gives you an idea as to what's making the most money (and most customers). Next, you just need to develop a product that solves the provlem those people have. If it's "quit smoking", see how they want to quit and then make it for them. Then you just need to make those people aware of your idea / product.
This is big question.. Why somebody have success with ALL their businesses? What the secret?! I have no ideas right now. Maybe destiny? No, really, maybe this is luck? Or this is really very smart guys? Or rule not ideas but rule realization? Maybe.
Sorry Brill but Cell phones are one of the prime examples of a "hungry market". -> who needs to talk to other people? EVERYONE -> who needs to talk to people away from them? EVERYONE -> who wants to talk to other people on the move? EVERYONE -> what solves all those provlems? CELL PHONES
But for now, when peoples know cell phones, and know - "yes, we need it". But when cell phones not be on the market peoples give another answer - "no, we don't need cell phones". Read some business books or articles about this story. Polls say that people do not need this product.
Well they don't *need* the product... just like we don't need most products apart from "food & shelter".... but it solves a big enough problem to warrent many people getting one. No-one *needs* a computer. No-one *needs* a car (with public transport). No-one *needs* a TV. No-one *needs* the Internet. But we all still have them because they solve major problems.
Ok, all your ideas are successful? You can make web startup and this is be successful project? If yes, i congratulation you, you smart. My project not ever have success. But I think before launch, it seemed to me that the idea interesting.
I believe it depend on each person. For me,i find it reading blog and scouting around the city do help me generate new idea.