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How to find product market fit
💰 A Protocal To follow
MOEMENTUM
This is a Newsletter to boost yours.
Intro
Hey there, Momentum Fam!
Welcome to another Sunday
Hope you're all feeling refreshed and ready to conquer your weeks
Im sipping on a lemonade by the beach trying preparing to dominate
Q4 is usually filled with opportunities and today’s email is a sequel on last week’s.
So, grab your favorite drink, find a cozy spot, and let's get it!
Characteristics Of A Winning Product
Last week we talked about Tiktok shop and how you can take advantage of it
About 100 of you replied back asking “But what do I sell”
My answer was “anything”
In reality, there are more products that people want to buy than there are entrepreneurs like us trying to sell them
Shit Amazon has over 12 MILLION products, and they barely do the selling.
Most people don’t realize that Amazon is largely built on third-party independent sellers
In other words, when you’re buying from Amazon, you’re not buying from Amazon itself; you’re from people like me who use Amazon’s aggregated customer base as a demand funnel
Work smart.
— Moe (@TheMoeHayek)
5:00 PM • Oct 11, 2023
First, let’s talk about what not to look for
4 Product characteristics to avoid before starting your research ❌
Products that are easily found
This makes it easy to compete. The reason people buy things online is mainly because they find it interesting enough but inaccessible in person. if you’re selling a product that they can find at a local Walmart then 9/10 times you don’t have something good enough.
Big and heavy products
This is a hit or miss, I’ve sold heavy-duty hardware, 10 ft plants, and 10lb planters online. Operationally it’s a headache, they can break, shipping cost is heavy and it can turn into a mess quickly.
Anything Technology Related
Don’t try and invent an app, or sell a bootleg Apple Watch or AirPods. You’re either going to get sued, or your products will end up with defects, and you end up with angry customers.
Is it Scaleabile
The higher your product cost is the more expensive your customer acquisition will be. If you scaled to 1000 orders within a week - you don’t want to face problems scaling.
Perishable
This category is a blessing and a curse. Stay away from anything that can mold, die or expire during shipping, makes your 10x job harder.
Now that you know what not to look for, lets talk about what you should be looking for.
Characteristics and Green flags to consider ✅
Solves a problem Customers are constantly looking for better solutions
Connected to a passion Customers can invest money in (dogs, religion, sports, hiking)
Perishable - customers need to subscribe and replenish for results (skincare, supps, etc)
And if you come across a product that has all 3 flags together then you truly found a winner.
Tweet Of The Week:
I’ll keep saying it.
AI voiceovers are working very well for us right now.
It’s helped us increase our creative output and testing.
The script was mostly generated with ChatGPT
The voiceover was made with text-to-speechBoth of these I could easily generated 20 variations of.… twitter.com/i/web/status/1…
— Alex Cooper (@alexgoughcooper)
6:58 PM • Oct 13, 2023
A Meme To Share:
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