How Honda Screwed Up The Internet Marketerís Logic And How You Can Avoid It!
Author: Alan Quan
Maybe it was Soichiro Honda (founder of Honda) who screwed up the internet marketer's logic when he proudly stated:
"We do not make something because of demand, IF the market is there. With our technology, we can create demand, we can create the market."
That's a great statement if you have hundreds of millions of dollars to burn on developing a product and then seeing if there is a demand in the market. But just in case you are not at that financial level yet, try out this lower cost option that is very profitable.
The truth is that if you go crazy spending a fortune to develop a spectacular new gadget that you (and only you) think is going to sell like crazy and then figure out that the market doesn't want it, you are left with a great product and an empty bank account.
Although a few people do get lucky, you should first rely on what's proven to work for the majority of the people rather than the tiny few. That's only logical.
Let's say that you were obsessed with the idea of developing a gadget that gives you the ability to make a stone skip 20 times on a lake; you may enjoy it immensely because you love to watch a stone skim the surface of the water.
However, just because you like the idea doesn't mean anybody else would like it. You may find one or two weirdoes in the country that would buy your gadget. But I haven't seen any magazines, news articles, or online discussion forums that express any demand for such a product.
My friend who makes a living with his internet business on E-Bay recently invested $20,000 on antibacterial shoes. He was so enthusiastic about them and selfishly thought that just because he liked them, then so will everyone else.
He didn't do any market research about the demand of these shoes, but he had no doubt in his mind of his upcoming success with these shoes because he absolutely LOVED them.
Then reality hit, nobody was buying and he lost big money. But he was still enthusiastic about the shoes because (I assume) he no longer had yellow foot fungus and his feet must have smelled great!
Totally ignoring the market again, my friend still had his selfish point of view and shockingly reinvested yet another $20,000 to go at it again! After all, it's a great product and everyone should want them!
Yeah the people should want it, but they didn't buy it! And, as you have already guessed, my friend lost lots of money again.
Your passion for your product should NEVER blind you to what the market is telling you!
To put it simply, you won't make any money with your internet marketing business if only you (and nobody else) thinks that your product is a genius idea! Notice that you are not an internet business or an online business.
We are working on an internet MARKETING business.
First, you must figure what people are obsessing over. Find a "starving crowd" for your product. This is your market.
Second, decide on your product since now you know that you have a product that a big enough group of people want.
Third, sell it to them.
Fourth, collect the cash!
To be successful in your internet MARKETING business, concentrate on what the market is telling you and give it to them again and again. From this day forward, if you want to make money with internet marketing, your passion for your product should always come last to what the market actually wants!
About the author: Alan Quan is a certified Internet Coaching Empire coach and specializes in helping people build their own successful internet marketing business. Visit his website at http://e-bizcoachalan.com/success.htm and find out how he can help you to quickly accomplish your goals and boost your internet profits.
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