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Finding Your Idea

Published on: December 7 2022 by Nick Peroni

Finding Your Idea

Finding Your Idea

come to the next month of all where
we're gonna tok about branding okay and
in this first lesson I want to recap
some ideas and and just start off with
your idea of whatever it is your
business is gonna be about okay because
at this point you really need to start
deciding what it is you're gonna be
selling all right we already toked
about all the different areas that you
need to think about and like I said
before I can't give you the answer I can
give you what I feel like are my best
suggestions for getting started if
you're brand new but ultimately that's
something that you need to decide based
on your strengths and where you're at
and what your goals are and what you
want to accomplish and how much capital
you have and what you're interested in
right and what makes sense to you and
the things that we toked about and
looked at before but I can narrow it
down for you all right so at this point
you're you're gonna be deciding from one
of these really right you're either
going to be dropshipping other people's
products you're going to be doing
print-on-demand items or some
combination of both you're gonna be
private label an existing product idea
or selling your own products that you
might already have that are already in
existence from your own brand or your
own store or something that you are
creating whether it's a digital product
or a physical product or whatever that
might be so one thing that I will say
and suggest is that in the beginning you
should definitely choose something
low-risk so you can afford to fail and
that note is for newbies okay again I'm
not toking to people who are like
experienced with businesses here but
you're brand new and you haven't done
this before and you don't have a lot of
experience and you like you're gonna
fail okay you're gonna mess up you're
going to have to figure things out and
so it's advantageous to you to choose
something that's low risk like drop
shipping or print-on-demand
and basically when it comes to those
options there's a few different ways you
can combine them right there's the idea
of a hybrid store which we toked about
which is combining drop shipping and P
OD so you could do a dropship store that
also sells print-on-demand items it's
like a secondary thing or it could be a
print-on-demand store that also has
dropship items right like they can
work together we looked at some examples
of that you could do one or the other
like there's no saying that you have to
you have to combine them and do the
hybrid idea but remember I like the
hybrid idea because it's flexible it
gives you room to work around both
things it allows you to build a brand
but still have the the ability to
maneuver within whatever you want to do
the other option that you could do which
I did tok about briefly before is a
single product store okay and this isn't
typically something that I've done but I
am I am working with some people that
are doing this right now
and it's really simple right the only
thing about a single product store is
that you've got to be good at your
product research right you've got to be
able to really narrow in on something
that that has you know there's gonna
have a big market and a lot of Appeal
and is can be consistent right so the
example we looked at before a few
lessons back I forget where it was but
it was a company called snooze and
basically they sold one product it was a
wireless Bluetooth speaker that was for
helping people sleep right it played
like white music or ambient music for
people to help help sorry help people
sleep at night okay and that's a single
product store and there's multiple
examples of that out there it can be
really the advantage to that is that if
you do pick something good it's it's
such a singular focus right so you're
not worried about testing multiple
products you're not worried about moving
all around the map but you have just
that that one thing that you're selling
and building a brand around so that's
that's a really good idea but it's it
can be a little tougher in my opinion if
you don't have like a proving process to
go through and actually identify what
that single winning product is going to
be that's why I like the hybrid model
for new people to get started and have
the flexibility in the room to test
different things but still being able to
build something that's like a nice brand
for themselves now when we're actually
getting into toking about brainstorming
ideas alright I think there's really two
ways that
you can go about starting to think of
what you want to sell again this is
mostly recap because we've toked about
market research and niche research
already but as we're moving into the
branding phase I just want to go through
this again you can look at what the
market wants or you can look at what
you're interested in there's no right or
wrong answer here it's just that you
need to remember if you're toking about
what you're interested in already you
need to validate that is actual market
demand as well okay it needs to be
something that is has enough demand that
you can build a business out of it
alright that's why I prefer what the
market wants because that way you know
you're finding things that are trending
or ideas that have a lot of demand
already but it's not to say that you
can't choose something you're passionate
about right you might be passionate
about volleyball and obviously there's a
market for that okay so it would just
become a matter of alright I'm
interested in volleyball now let's start
narrowing this down into how I want to
sell things and what am I going to sell
and what kind of brand am I going to
build a few key points to remember when
you're when you're thinking about good
ideas okay and not all these right like
you don't have to fit all of these for
any single idea but these are just some
general points of things that I've
learned along the way that they can help
you identify if it's a good idea all
right number one something that answers
a question and by question I mean like
you know a question could be like
something say how can I take my phone
underwater right you know like before
there were before there were things that
were like waterproof cases and and
waterproof phones or or whatever which
we have now for that that was a question
right people had smartphones they did
water activities how can I take my phone
into the water okay so that that's the
kind of question right or a problem a
question is often very similar to a
problem like in that situation people
have phones and they want to be able to
go out in the water without damaging
them how can you protect your phone
right they kind of go hand in hand
together another thing could be like you
know people like extreme sports and they
want to be able to cool
well how can they do that and you know
GoPro was invented so there the problem
question thing kind of goes together and
that can always like if you can solve a
problem for people in in any market
that's always a fantastik idea right
presenting a better solution to
something okay you can look at the
market and you can look at solutions
that might be out there already and try
to find a way to innovate that solution
to make it better or to do it better for
you know for other people making it
meaningful to the market this when
adding value to someone's life these two
kind of go together as well you always
want to add that right no matter what we
toked about this and we're gonna tok
about it again
it can't be overstressed when it comes
to business adding value with whatever
you're selling whatever your business is
doing right having something that when
people get it they feel like it was
worth it they feel like the quality and
the service right the quality of the
product and the service behind the
product that they purchased was valuable
and more and more in value to them than
what they spent on it okay
meaningful to the market this is you
know print-on-demand fits beautifully in
here okay print-on-demand the reason
that this stuff sells so well it's not
because it solves a problem or because
it answers a question but it's
meaningful to them right and t-shirts
are a commodity people have apparel and
accessories this is always going to be
commodity that we purchase in our lives
so if you can make a t-shirt more
meaningful to somebody then you know the
existing t-shirts that are out there
they're going to want to buy that
t-shirt because it's meaningful to them
right and then finally last point you
don't need to reinvent the wheel a lot
of times people get stuck here in the
idea phase and they're thinking about
and I know I believe me I've done it too
so it's an important point for all of us
to remember that you don't need to
reinvent the wheel to have a good idea
okay an idea can be simple it can be as
simple as improving upon something that
you already see out there and doing it
better and and that could end up being a
really good idea because it's a better
lucien for somebody write many good
ideas as we said start by answering a
question or solving a problem and this
can be something that you have right so
you know when we think about one of the
ways to come up with an idea of what
you're already interested in or that
that can translate to okay not only like
you know what am i interested in but in
these interests that I have what kind of
problems do I have what kind of things
are like existing in my life already
right now that I wish were better or
that somebody would solve this okay so
these are just some questions that that
I've come across in the past and I think
that these are you know through like
workbooks and workshops and exercises
that I think are really good to have in
here to help guide you if you're like
completely lost at this point and still
trying to figure out what it is you want
to do and and write this stuff down
right I'd actually go through this what
are the top five ideas to come to your
mind just you just off the top of your
head when you start thinking about ideas
that could be good for a business or
could be good for a product or could be
good for stuff to sell what are the top
five ideas that come to your mind what
pain points do you have in your life
pain points being things that are
frustrating or problems or you know in
your day your everyday daily routine or
your weekly routine things that are just
like the the major areas that you wish
were better okay and what niches are you
interested in when I first got started I
remember sitting down and getting a
piece of paper and just writing down all
the niches that I thought were like good
things that that I had like a list of
things that I thought were good ideas in
terms of what I thought would be popular
and then I had an list of niches that I
was interested in and then I tried to
cross-reference them and come up with
like the top ones that have the most
correlation you know so like you want to
go through the exercise and write stuff
down because that's going to help you
ideas are like it's it's a brain
activity right so the more that you
exercise your brain the more that you're
going to come up with better results
okay you're going to get stronger and
have better was
from that just remember that when it
comes down to this point here you need
to use the validation stuff that we
toked about the criteria we toked
about earlier in the Academy because
there needs to be a month
it matches your idea all right you might
be interested in something that is
really really obscure or really really
small you know and it could be an
interesting you're really passionate
about but if there's not a large enough
market for it then you're not going to
be able to make enough money to actually
build a business around that so you want
to also validate using the criteria that
we toked about before and then of
course great ideas can come from
researching products niches on Google or
Amazon we toked about this already
right and this is where you can look at
categories that are out there it's it's
about finding a starting point that's
that's the main thing with a niche or
with a product idea it's it's about
where is the starting point because once
you have a starting point you can start
digging into the research like I toked
about and showed you and and that first
starting point tends to be the most
difficult for people and that's why you
just want to kind of bring them whatever
you have and I hope some of these
guidelines have helped you to be able to
walk through that kind of stuff
to get some starting points that you can
start digging and doing some research
like in Google Keyword planner
for example okay say for example now in
Amazon okay so I'm right here in Amazon
I'm in something called the movers and
shakers like you can search on google
you can type in Amazon bestsellers or
Amazon movers and shakers and they have
these lists of like products that are
the movers and shakers listed for
example is products that are most here
it is biggest gainers in sales rank over
the past 24 hours updated hourly so a
lot of times you can find ideas in here
depending on where you look like some of
these are going to be major brands that
you can't really compete with it won't
be too beneficial to but you can look
around and like different niches so say
you're interested in pets and you want
to look around in here and see okay you
know what kind of stuff Pet Grooming
Club alright so maybe Pet Grooming Club
is something that you think could be
like of interest to you and you want to
come over to Google
he were greater than and start digging
around doing some research seeing what
kind of demand they were seeing what
kind of related items are going to come
up from this
okay so there's not too much demand all
right there's a few different things in
here pet grooming claw of these shedding
Club pet ninja glove but overall not
really a lot of demand but what you can
do is you can you can see only the terms
that are here and say maybe dog grooming
okay so dog grooming get results now we
can see dog grooming in and of itself is
a much much larger niche right two
hundred thousand searches a month and
then so maybe we're going to come down
here and start looking at what kind of
things are the the parts you know the
related keyword terms because you can
find a lot and the related keyword terms
that could help you start narrowing in
on what are the major parts of dog
grooming okay you can see there's a lot
of stuff that has to do with self dog
wash dog groomers and and this might
have not have been the best example
because grooming tends to be a service
like an actual brick-and-mortar location
but you know maybe in here there's an
idea about how can I do something that
lets people have effective dog grooming
at home right instead of having to take
your dog to a groomer and it's not
really my niche but I'm just thinking
out loud about how I would kind of go
through this this process of starting to
look around they're just starting to get
ideas of what what's in the niche and
and what are the main keywords that
people are looking at dog nail trimming
interesting ones so anyway this is just
the basic idea of using the keyword
planner okay you can you can start with
a keyword and you can start to see like
what are the related searches so maybe
you say okay dog grooming looks like
it's it's too much of people in four
places nearby I need something that's a
little bit more it can be sold online so
maybe you want to look at pet clothes
okay that has 3,600 but clearly I can
see right away
here are some actual results coming up
dog clothes dog sweaters dog coats like
there is a lot of demand for these three
items right here so now maybe I just
narrowed in on a niche that that could
work you could sell dog clothes dog
sweaters but there's other ones install
jackets dog Christmas leather that's
that's kind of funny dog hoodies dog
outfits so we just found the niche okay
and this I'm sure that there are you
know it says competition is high I'm
sure there's plenty of competition in
this niche but with this kind of demand
this is something that I feel like could
be a good niche right there's demand for
it there's plenty of keywords here that
you can look at for subcategories that
you can sell in clothes sweaters coats
jackets Christmas sweater even when it
gets to be their hoodie so this is
something that just from searching
around and Google Keyword planner you
know it's that's what it's about it's
about having a starting point and then
just looking around coming up with ideas
seeing what might work and now from this
point right this is where you know we
had the whole market research idea where
now I would start taking these keywords
to Google and I would start looking at
who are the main competitors who's
selling this stuff online and is there
room for me to enter this market and
what can I do that's a little different
how can I be unique and actually build a
brand out of this right which is where
we're going to start going with with
some of the next stuff
so in closing for this right if you find
something with a search volume of
several keywords that's over 10,000 a
month I think that that's a good
indication of demand alright I toked
about that in the market in the niche
research right if it has 10,000 searches
a month or more there's demand there and
if that item also has social appeal
that's going to allow you to be unique
and build some kind of rant then I think
you have a good idea right because here
you know this is something that is
definitely unique and is definitely
going to have multiple branding angles
you could use of dogs and clothes
whether it's a photo or video stories of
with their dogs and you know like
there's stuff for every season of the
year within here so there's a lot of
room for marketing creativity and if
there's room for creativity which
they're almost always is if you're
thinking about it in the right way
but if there's room for creativity then
even if there's high competition you're
still going to be able to find a way to
create unique marketing angles and sell
products okay that's what I believe
anyway and I think that that's that's a
true statement if you look at some of
the best marketing campaigns a lot of
times they are in competitive highly
competitive you know remember
competition is a good thing because it
lets you know that there's money being
spent there right and that's an industry
where you can make money and if it's a
big industry then there's there's plenty
of money and opportunity to go around
all right so that's everything I just
wanted to kind of cover as a recap in
the finding your idea phase I know some
of that is review but again at this
point it's important that you that you
really start thinking about your idea
because then the next one we're gonna
start toking about how you take that
idea and figure out your value
proposition and then from there how you
start putting together your brand
identity and and all of these things
moving into actually building your store
and going through this process all right
I'll see you in the next video

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