Intro
does this look like a super-unique, amazing product?
It does not look like a super-unique, amazing product. But it is a super-unique, amazing product. No, actually it is not. It’s just a decent idea nailed down to a reasonably clear aesthetic and that’s it. And I think that’s great! I really do!
My experience with the product
I’d like to talk about a product that’s been in the pipeline for a while and is finally on its way to market. The product is bite agave lip mask, and it’s my pleasure to introduce it:
Bite Agave Lip Mask (BA LM)
It’s not really a mask at all, but rather a new type of mouthwash. It works by stimulating your saliva production, which kills bacteria and raises the pH of the mouth, which helps remove plaque. It also contains charcoal, which reduces bacteria.
The product has been around for quite awhile now. Back in February 2013 I published an article about it titled “So you want to make your mouth or tongue more attractive? Here’s how!” In that article I gave an introduction to the product with an example — someone with braces trying out BAM since he was having problems with his teeth getting stained from food. It was pretty well received (I even got some requests for better examples), so I decided to continue making posts about the product.
As time went by, however, I noticed that people were asking me for more specific examples (like people who had braces trying out BAM vs someone who has teeth due to gum disease). So I decided to write up a do-it-yourself guide on how to make BAM yourself as a DIY guide — though this one is just for people who can get their hands on a professional grade machine at home (and don’t mind shelling out $300-$400). Because of that fact alone this post will be more useful than many others I have written regarding DIY products — it’s far more detailed than most ebooks or guides I’ve written and takes a lot longer than most other tutorials on YouTube or elsewhere.
So let me start off by saying that this post will require quite a bit of technical knowledge; thanks in advance if you are willing to learn before reading any further!
Pros and Cons
I’m sure many of you will be asking yourselves, “is agave a fruit?”. I know I was. When I first read about the product, I got excited — this could be great. The packaging is cute and the website is entertaining and fun to browse through — but as soon as I saw that bite-sized packet of agave lip gloss, my excitement turned to apprehension.
We are currently seeking funding for our next product launch. The pitch is short and simple: we have a new tasty lip balm designed from avocado oil, beeswax and beeswax liquid; it is safe for lips, won’t dry out your lips and tastes way better than anything else you can buy in the store (except maybe our other products). It has been submitted to Apple/Google/other app stores, so we think it should go well!
The cons:
• It looks like a lot of work has gone into creating this product (which we hope not);
• Most people in the world don’t eat avocado (and many don’t want to);
• There aren’t any reviews or feedback on the product yet;
• We are still trying to decide between developing an iOS or Android app;
I hope you enjoy the product — but please don’t buy it. ?
Final Thoughts
I’m sure you’re all familiar with the story of the Mexican billionaire who decided to make a mask for his face, so that he could better express his feelings. Chances are, you’re not even aware that this is a thing our friend has done (though it may be featured on the company’s blog).
If you are in any way interested in making money online — or even just scraping a living — then this is probably a topic you should take some time to learn about. It’s no secret that there are very few ways to become rich in the internet age: most people are either working for it to make ends meet or trying to make money on the side via side projects. This is one of those “idealistic” things like “I want to build some really cool app today and create something I can be proud of and sell tomorrow morning at $1 per install. What do I need to do?”
If you have high hopes for your product, then it might be worthwhile examining how much potential there is in what you have created (and what it could potentially be). It might help if we break down how much potential there is into two parts: 1) the revenue potential and 2) its market potential. The revenue potential of your product is usually easy enough to calculate, especially if you have a strong value proposition:
The market potential of your product depends on whether there are existing markets for it or not (if so, then sales can be expected); if not, then building a new market takes time .
Despite all these problems with mainstream ideas of making money online (i.e., having an established brand name and sales channel), there are still thousands upon thousands of people who consider themselves entrepreneurs and earn their living from their own projects alone; and given that most people who start businesses don’t ever get rich from them, this doesn’t mean they’re bad people at heart.
There’s also no shortage of books written about getting rich from your own ideas — though they tend to focus more on philosophy than hard science. We’ll let readers decide which ones they think offer valuable insight into creating wealth by building products instead of services, but we will say that “Building Wealth Online” by Peter Molyneux was an interesting read as well as “Get Rich Slowly” by Vince Perleman , which provides practical strategies for building an entrepreneurial business over the long term.