Create Irresistible Products
New Product Development for Solopreneurs
So you want to build a solo product business online?
Make 6-7 figures selling digital or physical products.
Build up the business and then watch it grow on its own.
Stay a rich solopreneur or become an obscenely wealthy entrepreneur by pushing things to the next level.
Good choice. A product business is the most scalable solo business, which also makes it the one with the highest revenue potential.
Dan Koe made $4 million+ from digital products in 2023. When asked how, he said, “he doesn’t really do much about that anymore.” Instead, he’s developing his software company, Kortex.
One of my best friends started a solo business on Etsy that turned into a full-blown design company.
Even millionaire YouTube creators like Linus Sebastian are now looking into “building out a pipeline of gear and clothing that can compete in quality with anything you'll find in retail stores.” Not just merch. We’re talking a full-blown product business.
That’s the kind of potential we’re talking about, even if it seems far-fetched to you now.
It’s normal that it seems far-fetched.
Today, we bring it a few steps closer.
New Product Development for Solopreneurs.
In this newsletter:
How to innovate as a solopreneur (even if you think you can’t).
Start a profitable product business without an audience. Yes, it’s possible.
The super important step most solopreneurs skip when developing a product. Simple but life-changing.
Smart growth and scaling of a product business. The first $100K are the hardest—but that doesn’t mean growth is easy.
Excited? Let’s begin!
How to innovate as a solopreneur.
Innovation is the ultimate competitive advantage and it doesn’t always mean coming up with the next great thing.
Facebook wasn’t the first social media platform.
Google wasn’t the first search engine.
The iPhone wasn’t the first smartphone.
In fact, if you’re starting a product business, you shouldn’t try to create new things.
Instead, you should:
Improve it
How do you improve it? There are 4 key benefits of everything ever sold. It makes things either:
Easier
Cheaper / more profitable
Better (this could mean a lot of things based on the product)
Faster
Choose one of these and go for it.
And another tip: if you want to create a “better” educational product but don’t have the knowledge, curate information from other successful people. Instead of creating “My Awesome Course in X” create “How The Most Successful People In The World Do X”.
Research is the foundation of all successful businesses.
Start a profitable product business even without an audience.
Everyone goes on and on about building audiences.
I certainly thought that was the only way to build a million-dollar business.
It isn’t.