We hate to burst your bubble, but there’s no such thing as a “perfect” product. And if you’re trying to find it, you’re holding your business back.
If you’ve fallen ill with Perfect Product Syndrome® (PPS), here are 7 steps to reclaim your business.
1. Find something that interests you.
Your product is much more likely to succeed if you’re actually interested in it. Products succeed when business owners are emotionally-attached or invested in what they’re selling.
Think about it:
If you really believe in something, and you share that with someone else, your passion is going to show, and the person you’re talking to is more likely to be interested. The same is true of your product. If you believe in it, your passion will show in your work.
2. Do your research.
What we really mean is: Spy on other people.
3. Make sure your product fits the necessary criteria.
There are certain criteria we like to recommend your product meet in order to maximize revenue and limit headache.
Here are some questions you should ask when analyzing a potential product:
- Is it simple?
- Is it lightweight?
- Is it easy to ship?
- Does it solve a problem?
- Can you sell it at a reasonable price (between $20 and $50)?
4. Find suppliers. Compare prices.
Once you’ve found a product that meets the criteria above, find some suppliers!
5. Know your numbers
It’s important that you know both your revenue and your expenses. Losing track of these numbers could mean trouble for your business.
Here are some questions you should know the answers to:
- What does the product cost from the supplier?
- How much does shipping cost?
- What are the other costs?
- Are you warehousing and shipping yourself or using Amazon FBA?
- Are you doing your own advertising or are you hiring someone?
- Do you have a website? How much does your web hosting cost?
- And the list goes on… Leave no stone unturned here.
6. Communicate with suppliers. Order samples. Analyze those samples.
Understand that this process takes time. Be patient and courteous with suppliers. If you build a good relationship with them, they’re more likely to treat you well in the future.
Once you receive your samples, analyze them meticulously. Communicate your feedback with your supplier, and do a second round of sampling if necessary.
Again—take your time here! Building a quality product may require a few rounds of prototyping and testing.
7. BUY IT! Start importing the product.
Once you’ve got a sample you’re proud of, order your inventory and start selling!
Remember, there’s no such thing as a “perfect” product. Follow the steps in this guide if you’re ready to stop waiting and finally find a product to sell on Amazon.
Most importantly—take action! If you don’t start the race, you’ll never finish.
We discuss PPS in our latest book, which is available on Amazon. Click the link below to find out more.