You’re overthinking your product idea...here's how to stop

You actually can turn ‘that idea’ into a sellable product

Author

Colleen Kochannek
June 02, 2024

A Note From Colleen

Hi, friend.

Thanks for completing last week’s survey on the topics you most want to read about here in The Gumption Gazette.

The results are in:

  1. Getting Started Topics: business idea, first steps and easy tech options

  2. Planning Your 3rd Act (TBH - this was a close tie with #1)

  3. Business Basics and How-to’s

We’re going to focus on these.

I’m not going to lie, I feel the conversation around planning our 3rd Act is growing and growing, so I am glad we’re having it.

Thanks for being here.

Cheers,

Colleen Kochannek, Publisher

*This publication may include affiliate links and links to products I sell. If you click and buy, I may earn revenue and/or commission. 

BUSINESS BASICS

You’re Overthinking Your Business Idea

I know for a fact you’re overthinking your business idea and it’s completely understandable.

If you’ve not been in ‘the online space’ it’s natural to think of ‘online business’ like you would any business. 

And, ‘starting a business’ feels like a pretty big deal (and it is).

In the online world, however, we have an opportunity to sell our know-how, our experience - the stuff we’ve learned and figured out through the decades - WITHOUT starting a whole-&ss business.

Create a simple solution-based, know-how based product (s) and sell that. 

That IS a 100% legit online business.

Your entire online “business” can consist of selling ONE solution to something that people need a solution to. 

  1. You know a top secret way to make sourdough bread that your grandma taught you? Sell that.

  2. You know how to create amazing spreadsheets that track something important? Sell that.

  3. You and your hubby have RV’d cross country for the past 5 years and you have a comprehensive packing list? Sell that.

  4. You know a fast hack to organize the millions of photos on your phone? Sell that.

  5. You know how to watercolor simple daisies? Sell that.

  6. You know how to introduce dogs to new babies coming home? Sell that.

  7. You know how to help women nearing retiring figure out their finances? Sell that.

  8. You know how to organize and coach a little league softball team. Sell that.

  9. You know how to teach a total newbie how to set up a FB Ad in one hour? Sell that.

  10.  You know how to do pilates as a way to improve your tennis game? Sell that.

A few things you and your product absolutely do NOT need:

  1. Your product does not have to some degree backing it up to be valuable. 

  2. You do not need decades of experience in the thing you want to sell. Being fairly new to the task you then want to sell can mean you’re a better teacher because you’re closer to the ‘beginner’ phase.  

  3. Your product does not have to be some monstrous creation with 38 videos, 72 downloads and 16 workbooks

  4. Your product does not have to be overly produced or fancy with professionally designed powerpoint slides and movie-quality videos with intricate cut shots 

  5. Your product does not have to solve climate change.

The value of your product is literally its ability to solve something for the person that needs it solved. 

People will pay for the convenience of your cross-country packing list. Winding up in the middle of nowhere on a 100 degree sunny day without sunscreen or a hat is a rookie move (that can be avoided with your expert packing list). 

Provide ONE solution to a specific issue and, voila, you have a valuable product. You have an online business.

LIFE REIMAGINED

My new philosophy is to choose one goal and put a 6-month timeline around it.

  • 6 months is time enough to accomplish pretty big things, but also enough of a deadline and push to put a fire under our butts 

  • We can sustain a 6 month focus because we can see the light at the end of the tunnel

  • Knowing you get to choose a new goal in 6 months is motivating. 

My first 6-month goal, between now and the end of 2024, is paying off some final debt that has become a real monkey on my back. 

Knowing that I am doing something constructive to fix the situation and that it can be over in 6 months is motivating. Come 2025 I’ll pick a more fun 6-month goal to kick off the new year.

What goal do you want to tackle in the next 6 months?  I suggest making it big enough to feel challenging, but not too big that it feels defeating. REPLY TO THIS EMAIL AND SHARE YOUR GOAL WITH ME.

QUICK WINS

If I go out to eat dinner I often order an extra meal to take home - knowing it will probably give me 3-4 more meals. It’s totally worth it.

RESOURCES

If you’re looking for some inspiration for what you could do as an online business; or, want a quick reference for how the whole process works I have two items for you to check out:

COMING SOON:

Soon, I’ll be re-releasing my Digging Thru The Decades product that helps you uncover every know-how, skill, talent and asset you can turn into a simple online business. After you unearth WHAT you can sell, I also teach you how to formulate that know-how into a viable (sellable) product.

Stay tuned…

The SUGGESTION BOX

Questions and suggestions for admin. COMMENT BELOW OR HIT REPLY to this email or email us at: [email protected]

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