This is something I’ll talk about later in this blog. It makes sense to divide the year into two parts. In one part you’re focused on developing and launching new products and in the other part you’re focused on optimizing and selling.
Amazon is so much fun for me because it allows you to continually experience new things. Releasing new products is certainly fun, but it also distracts you from something more important to your business: making money. Products that are already generating revenue lose attention with each new product you bring to market.
When I do something new
I want it to be related to something existing. Even Tesla’s rental company was related to existing parts.
Renting a car is similar to vietnam whatsapp number data renting a house. In all the details, probably not, but I have not been able to get to that point to give you the nuances. Then there is also the fact that we have launched a mat for the Tesla Model Y. The first car I owned (which I have already sold) for the rental company.
Although it is a piece that at first glance seems like it doesn’t fit, for me it was related to what I was already doing and I already had experience (data).
Now, why am I telling you this?
Easy. When I make something I want it to be previous developments help them related to something else. Putting one piece on top of the next is much easier than having to create a completely new base. I want to apply this logic to new products. I ask myself these questions.
- Could this product be sold to existing customers?
- Does this product have the potential to be recurrent? That is, can it be sold in multiple units throughout the year?
- Is it a product that allows me to expand database d my catalog and position myself better in my market segment?
- Do I have similar products that allow me to more accurately estimate the sales I will generate with this new product?
The key is to have data or whatever comes closest to it
If I have a product that sells 10 times a day and I see that my competitors sell it in many variations, it is quite obvious that I can also sell more by creating a variation of an existing product.
The next most logical product is the one that is related to what you do and will likely bring you more sales in the short term. That is the one we are going to choose for ourselves.