Hey everyone. Stefan here from projectlifemastery.com. In this video I want to talk to you about creating your own product. Oftentimes a lot of people come to me and they say, “Stefan, I want to create, launch and sell my own product, I want to create and launch my own eBook, my own online training program, my own online course, software, my own online membership website or physical product, or a book,” or whatever it might be. They have these incredible aspirations and desires to create and launch their own products. Oftentimes when people come to me for that, I always say to them, “Hold on just for one minute. Are you ready to create and launch your own product?” They don’t realize there’s actually a sequence and a stage that is more important to actually master before you create and launch your own product. Most people that create and launch their own products, they fail massively because they’re launching a product, number one, and they have nobody to launch it to. They don’t already have a list, a demographic, followers, subscribers, customers, something that they can launch, whatever it is that their launching, to. They just think, “Okay, I’m just going to create a product and if I build it then they would come.” That’s always the worst way of doing things, that’s why so many people fail. They just think, “Okay, if I create a product and then I market the product,” then they’re going to make a lot of money by doing it that way and it’s actually the other way around. I believe the first step, the most important step before you even create the product, you need to build a brand, a blog, Youtube, social media presence, whatever it is, in a specific niche. You need to attract people first. The best way to build your brand online today and to attract people online is through creating content by doing more for other people than anyone else. By creating high quality, amazing content. Whether that’s written articles on a blog, whether that’s Youtube videos, social media content, podcast, whatever it is, creating quality content. What that does is that attracts people to you. That’s always the first step. Once you’ve attracted people to you, you have an online following, then you want to survey them. You want to learn about them, you want to find out their desires, their needs, their problems, their challenges. The only reason why you create a product is not for you. A lot of people think, “I just want to create a product for myself and because I like it, everyone else is going to like it.” That’s always the mentality of a failure. That’s always the mentality of somebody that doesn’t succeed in business because they’re only thinking about themselves. They’re building it around themselves instead of understanding that the secret to business and success is to add value to others. You have to fall more in love with your customers, your followers, your subscribers, than your own business and products. If you can do that and you attract people first, you identify their needs, desires, problems, then you only create a product to help solve that problem, that’s the whole purpose. You create a product to help solve people’s problems or a missing piece in the market or a need or desire that other people have. When people say to me, “Well, I want to create and launch my own product,” I always say, “Who are you going to launch it to?” Number one, you’re going to launch it to nobody and you’re going to have it fail. Number two, how do you even know what this product is going to entail? How do you even know what people want? If you’re just guessing, then that’s the worst way of doing it. If you actually attract people first, you survey them, they’ll actually tell you exactly what they want. They will tell you, you’ll see their recurring problem. They’ll tell you exactly what they want and then you go ahead and you create it to meet that need and then you have people to launch it to. A lot of people do it in reverse. They want to launch the product first and they’re not launching to anyone. They don’t realize the more important part is actually attracting people first. To give you guys an example and by the way, I’m sharing this because I made this mistake. I’m not pointing the finger, I made this mistake when I first started. I thought, “Okay, I’m going to create a dating eBook.” That’s what I was into, the business that I was in at the time. “I’m going to create a dating eBook and I’m going to have it be based all around me and my story and what I think people want.” When I launched this eBook, because I didn’t I didn’t have people to launch it to, number one. I had a few people and I didn’t create it based on what people wanted, I created it based on what I wanted and what I thought people wanted. It ended up failing. The very first product I ever created online was this dating eBook. I spent a year to write it, by the way so I learned my lesson from that. You always want to mitigate your risk whenever you launch products and things to that nature as well. A lot of people, they fail because they’re taking such a big risk and it’s costly, it takes a lot of time, money, to create a product. To spend months creating something and then have it flop and fail, that’s not the smart way of doing things. That’s why you want to make sure you do the research first and you’re creating a product that’s targeted to a specific audience of people. The better way to launch a product, and this is what I always do before I even create any product, is I always want to eliminate all the risk. Again, it takes a lot of time and money to create and launch your own product, I don’t want to fail. What I do instead is I start with affiliate marketing. I attract people first then I find a product or a service that I can promote as an affiliate to my audience and see whether or not they buy it, see whether or not they benefit from it, whether they want it. I did that with Kindle publishing before I even created my Kindle course. There is one thing that I tested it out first to my market to see. I could actually see that there’s a demand there. I can see that people are actually willing to buy it, they weren’t just saying that they’re willing to buy it but they’re actually putting their money where their mouth was and actually investing their money to purchase as an affiliate and I earn money from that. Then I realize, “Hey, I’m earning money here as an affiliate and I’ve been able to make some money, I’ve proven there’s a market, there’s a demand that people are actually interested in this product from me. I’ve surveyed my audience, I’ve built the audience, now it makes sense to create the product.” Now when I create the product, I’m guaranteed that it’s going to be a successful launch because I’ve eliminated the risk. I’ve tested it out as an affiliate in this market and I’ve already tested it out by surveying people as well. Them telling me what they want and then I custom-tailored the product to them. This is exactly what I did by the way with Affiliate Marketing Mastery. When I created and launched the Affiliate Marketing Mastery, I didn’t guess. I shared other affiliate courses and things like that, that I’ve already personally benefited from, that I made money from. I was able to see the numbers, that there’s actually a market, a demand. I created a free course that you guys are familiar with at productlifemastery.com/freecourse. I was able to see out of the seven business models that I utilize, which one was the one that a lot of people are interested in. Affiliate Marketing, that video that I have is a really common one. I created free content, I did a survey to people and I found exactly what they wanted in this course. Then I went and I took all that information, all the hundreds of responses that I got, and then I created the course based on what people wanted. When I launched Affiliate Marketing Mastery, it took me a few months to create it, a lot of money, a lot of time, a whole team. When I launched it, it was a huge success, hundreds of people joined the program because I had built a list, the audience, I had listened to them, I had done testing and I mitigated the risk. That’s the smart way of doing it. Whenever you think, “Okay, I want to create and launch my own product,” I say, “Hold on, there’s a phase and a process you want to go through before that.” A great thing when you do affiliate marketing, if you promote the product and it doesn’t sell and it fails, that’s not a big deal because you didn’t create it, you didn’t have to take the risk. You’re just an affiliate and you can easily promote something else. Oftentimes, people who want to get started, even selling on Amazon or even Kindle books, awesome. You still need to market your Amazon product, you still need to market your Kindle books. You still need to drive traffic and promote and market your products. In some cases actually it sometimes can make sense, instead of starting an Amazon product and investing hundreds of thousands of dollars to take that risk and launch the product, create the logo and the labelling and the packaging, doing the customer support and doing the big risk that it takes to launch an Amazon product, which can be a month to a few months. Instead you can actually be an affiliate for an Amazon product, you can be an affiliate for a Kindle book. Maybe you can find another Amazon product in that market or another Kindle book in that market and build the blog and the Youtube channel, attract people first. Join Amazon associates which is Amazon’s affiliate program, which is free to sign up for. Get an affiliate link, promote that product on Amazon and then once you’ve proven that it’s selling, people are buying it, then you can go ahead and create the product yourself and private label it and invest all the money and the time. Now you’ve proven that your audience is actually interested in buying that. Again, it’s always about mitigating the risk and that’s why affiliate marketing is so great because it allows you to test different markets. I can see… I can test promoting different products to my list that I benefit from and use and I can see if there’s a demand. For example, I use a mini trampoline, a rebounder. Many of you guys follow me on Snapchat and see that. Let’s say just as an example, not that I would, but let’s say that I share it, I’m promoting it, I’m using it every day, it benefits my life. Let’s say that I tested it out as an affiliate, I promoted a mini trampoline, a rebounder. I noticed a lot of people, they’re interested in that and they’re buying through my link and it’s proving it. Then I can actually say, “Okay, wow, I made a certain amount of money, I’ve tested it, there’s a market, there’s a demand here, people are interested in it. I can go ahead and create my own mini trampoline and create my own product in that case because I know there’s a demand. Now I can profit even more from it.” That’s why you use affiliate marketing and affiliate marketing is a great way to complement things in different way before you take that step and that risk to create and launch their own product. I understand that you want to create and launch your own product if you’re watching this. My advice is only do it when you’re ready for it because creating and launching your product is a process. I don’t think anybody should just create and launch their own product because to do it, it’s a journey. There’s a lot of learning involved, there’s a lot of technical aspects, it cost money to have or do it yourself or have people do it for you, put everything together. You have to be an expert, you have to be an authority, you have to deal with the customer support. There’s a lot that goes into creating and launching your own product. That’s why I believe you want to start with getting traffic first, affiliate marketing next. Once you’re ready you can survey people, then create and launch your own product. I understand there’s many ways of doing it. There’s ways you can start with an Amazon product, you can start with a Kindle book, you can start with a blog. Really you’ve got to do everything. You can’t ignore getting the traffic and building the list, but that’s always the more important part. That’s the real asset in your business. The real asset and the real value is your list, your brand because then you could always promote other products and product always change and evolve. Because you have an audience, you’ll always be able to launch and promote other products to them as well. Hopefully this video helps you understand where you’re at and where you should start and makes sense to you, hopefully, in some way. I’m a big believer in building the brand because that’s what’s allowed me to get to where I’m at today. I’ve done multiple ways online and that’s the biggest asset that I have for my business, that I want you to have as well. If you want to learn more about how to build that. I’ve got a free course at affiliatemarketingmastery.com. Click the link in the description, head on over there. You guys can put in your email address, you’ll get the free videos that I have that explain my online brand and how to use affiliate marketing and the power of it. Of course I’ve got my online course Affiliate Marketing Mastery, that’s available as well. That has really already changed a lot of peoples lives. People are loving it so far and I’m always improving it and making it better. Really, if you have this desire to create your own product, understand there’s a sequence for it. Really, building that brand, that list, the following, the traffic. That’s always the more important part I believe because that gives you the ability to always promote additional products, services. As the market changes, as the world changes, you can always meet their needs and solve their problems. That’s really the biggest asset, it’s not the product itself. Thank you guys for watching. Again, check out the free course, click the link in the description. Like this video if you guys enjoyed it, I appreciate it. I appreciate all the love and the support that you guys give. Leave a comment, I’d love to hear what you guys think and subscribe for more videos. That’s it for this video, guys. Take care.