The first step to building a successful digital product business is to find your big idea — The idea for your product that you’ll use to build your online business around.
Coming up with an idea is actually simpler than you might think. It comes down to a combination of 3 things.
Let’s take a look at them one by one.
1. Identify What You’re Naturally Great At
The first step to finding your big idea is to identify what you’re naturally good at.
This requires some self-reflection and asking around. You might want to grab out a piece of paper and write down a big list of all the things that you enjoy or you’re good at or come naturally to you.
When you’re doing this, try not to filter out anything. Sometimes, you’ll want to disqualify certain ideas because they seem too easy to you and we often don’t believe that we could get paid to teach or talk about something that’s actually enjoyable or fun. Remember, just because something comes easy to you doesn’t mean it does for other people.
Ask yourself: “What is it that you’re great at, that you actually wouldn’t have guessed that people would pay you to teach them, because it’s so natural and automatic to you?”
Write down all the answers you can think of.
2. Target And Narrow Your Niche
After you’ve compiled a list of what you’re good at, the next step is to determine the niche or audience that you’re going to be creating the product for.
A big mistake people make when deciding on their audience is going too broad and creating a product that tries to ‘appeal to everyone’.
Example: A fitness coach who creates a weightloss product for anyone who wants to lose weight.
The better way to do it is to narrow your niche down to a much more specific group of people. Example: A fitness coach who creates a weightloss product for brides.
It seems counter-intuitive to target a smaller group, but doing so will allow you to speak more directly to their wants and needs and ultimately sell more products as a result.
In addition to narrowing my niche, I always run any new niche through the following 3 Questions:
- Is your target customer motivated?
- Are they actively searching for a solution?
- Are they having a hard time finding the right answer?
If you get 3 “Yes’s” to these questions, then you owe it to yourself to test out the niche. If you don’t, then keep looking until you do.
3. Share Your Story And Key Learning Insights
The third step is to come up with the unique story behind what you’re teaching. In other words, how did you get good at whatever it is you plan to teach?
What is the big insight that allowed you to go from failure to success?
What is your ‘rags to riches’ story?
Coming up with you story and big insight will provide you with the foundation for your hook and marketing later on.
Tying it all together…
The combination of identifying what you’re naturally great at, targeting your niche well, plus remembering your story and the big insight that allowed you to go from failure to success… is where you’ll find your BIG IDEA.
It’s the place where all 3 components overlap in the diagram above.
Once you identify it, you’ll want to make it the core of your digital product.
Finding your big idea is just the first step to creating a successful digital products business. I’m going to be opening a brand new training next week that’s going to put together the rest of the puzzle.
It’s called Digital Product Blueprint and it’s a 90 day training course, where you’ll get my complete set of proven templates, systems and blueprints for building your digital product and online business from scratch.
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