Apply principles from book only to product creation and sales?

[DaveyLoos]

Hi All,

I just bought the book and was completely blown away by it. Like Morpheus did with Neo in the Matrix, Tim showed me the real world.
BUT...I was wondering...in the book, Tim suggests that we apply his ideas to create a product and setup an online company to sell that product and finally, outsource as many tasks as possible to reduce work hours.
But, the only problem is: I do not have good skills to create a product. I really do not have an idea what would be nice to create. Furthermore, everytime I think I 'invented' a good product and afterwards browse the internet, it seems as if somebody else already had the same idea.
So, does it have to be product creation and how to learn how to create a product?

Second thing: now that the book is a bestseller, everybody will want to join the NR, and as a result, the companies in INDIA that provide us with remote VA´s, will probably increase their rates so that outsourcing will destroy our margins.

I welcome suggestions, especially of course when they come from Tim himself.

Greetings,
Davey

[webb]

Just my thoughts... just because someone else is doing your idea doesn't mean you shouldn't still micro-test it. Do it better, offer something the competition doesn't. Product creation is my current struggle. I took some time off from work, I've been brainstorming for the past week.

I'm curious about the India VA's as well... YourManInIndia has increased their prices a little from what Tim lists, but not by much. But they do have a bit of a waiting list. I think some others here have been hiring VA's from eLance... I might list something there and see what turns up.

[jetpacklife]

I doubt more that 1% of those reading the book will actually set up an online business and actually get enough to outsource anything of substance.

Since the book calls directly for you to test out these services, I think there may be a bit of a spike in demand to YMII and others, but I'm sure they can scale to meet demand or enough competition will come in to fill the gap.

There are lots of companies online who aren't selling anything. Like me, they give away their product and make money from ads.

My advice is to think of a product that people currently pay for, and offer it for free.

[TheGoldenBear]

There are lots of companies online who aren't selling anything. Like me, they give away their product and make money from ads.

My advice is to think of a product that people currently pay for, and offer it for free.

Could you please give an example of how this works? Make up an example for privacy's sake, if you like. I'm just not clear on what you are proposing.

[jonparker83]

Could you please give an example of how this works? Make up an example for privacy's sake, if you like. I'm just not clear on what you are proposing.

This could be anything from a free eBook to a free service e.g. a diet tips blog where the money is made by displaying adverts from pay per click (definition (http://http://en.wikipedia.org/wiki/Pay_per_click)) advertising or affiliates (where you get a percentage of a sale that you refer to their website)

Basically, if you can create some sort of free content or product that has value for other people, you can draw them to your website, and with relevant advertising or affiliates, it possible to create fully automated revenue.

An example of this would be most (if not all of the top bloggers) and even Tim Ferriss is doing the same now with an affiliate program on his blog (gotomypc.com)

Hope this answers your questions

Jon :)