Myth-busting | “I need to have a unique, competitive idea for my product”

When I surveyed my audience at the end of 2020, one of the questions was “what's holding you back from launching your digital product?”

Many people said I'm waiting to have a good idea, or I don't think my idea is unique enough, or I don't think my idea is very competitive, or there are so many other people doing the same thing that I want to sell. So today, I'm going to bust the myth that you need to have a unique, competitive idea for your digital product to be successful.

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You don't need a unique idea to create a digital product

Here's a truth bomb for you. People don't buy digital products to learn things. Whoa, I know, right? People aren't buying your online course to learn. That sounds really warped. But bear with me here. They don't buy digital products because they are excited about your unique idea either, okay? They buy digital products because it's solving a problem that they have or it is delivering a transformation that they want. And they choose to buy from you not because you have a unique idea, but because they like you, trust you, connect with you, and genuinely think that you are the person with that solution to their problem or with the ability to help them achieve that transformation. So let me just repeat that again. People aren't buying your digital product to learn things. They're buying it because it's solving a problem they have or it's delivering a transformation they want. They're not buying it from you because they're excited about your idea being unique, they're buying it from you because they like you, trust you, and connect with you.

 

You can have two completely different people selling the exact same product or a very similar product with the same outcome and some people will choose you, some people will choose the other person simply because we resonate differently with different people. There are so many people in the online space that are teaching similar things to me. I have a course on how to launch a podcast. How many other hundreds of people out there are teaching people how to launch a podcast? Yet my product still made about $800,000 last year, just that one single product because there are people out there who resonated with me over somebody else out there selling another course on how to launch a podcast. Even though it's the same problem that it's solving, the same transformation it's delivering, it's not a particularly unique, competitive idea how to launch a podcast, but they bought from me because they connected with me. Does that make sense? I hope so.

 

Now, instead of focusing on creating this unique, competitive idea for your product, I want you to focus on uncovering the problem that you are solving with your product. Some ways that you can do that is to start to think, okay, what are people asking me about all of the time? When you're getting inquiries in your inbox, what are people messaging you? What questions are they asking you in your DMs? What are people complaining about online? In the forums where your ideal customers hang out, what questions are they asking? What complaints do they have?

Another thing to ask your audience is what is your biggest struggle when it comes to whatever your area of expertise is? So I always ask people, what's your biggest struggle when it comes to creating a digital product? What's your biggest struggle when it comes to launching your digital product?

 

And then lastly, think about what do your clients come to you for help with? Because if there are people who are willing to pay money for you to do something for them, there might also be a second audience of people who can't afford you to do it for them, but who are willing to pay money to do it themselves, to learn how to do it themselves. So there are a couple of questions for you to brainstorm on for uncovering the problem that you are solving.

 

 

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