Posted on January 9, 2016 Tired of seeing your good ideas fail?

Good morning. It’s a beautiful day down here in Australia. Today, I wanted to make a quick video for you, about a very simple idea.

I’ve just been walking (and thinking) on the beach. One of the things I hear so often, regardless of whether it’s on Amazon or in business generally, is, “I just need a really good idea.”

You know what? You’re wrong. You don’t need a good idea. What you need to be successful in Amazon, or in business generally, is a market. It’s not the idea that’s going to make you successful. On Amazon, for example, I sell nine products that were invented literally thousands of years ago. I didn’t invent any of them, right? I found a market, and I slightly tweaked my product. My first product, I made the packaging amazing to improve the overall perception of it, though the product itself has been around for thousands of years.

It’s now about the twentieth, and you can see here, these are sales from just that one product, (so far) this month, in US dollars. That’s about 9,000 Australian dollars, about six and a bit thousand US dollars, and we still have a week to go. It’ll probably climb up to about 8,000 US dollars by the end of the month. At a forty percent margin, think about that, right? One product, that I didn’t invent, that has been around for thousands of years, that all I did was make sure there was an established market.

Over the weekend, I got an email from one of my students in the US. She’s a young lady, 28 years old, and she started selling a product she didn’t invent, either. It was already starting to sell nationally across the US. In fact, it’s now sold all over the world. She took that product, tweaked it, and packaged it slightly different. She didn’t make or invent it. She just packaged it differently, and got better photography, and so on. She emailed me over the weekend. Twenty-eight years old, now netting over 200,000 Australian dollars a year. She’s doing 410 US dollars a day in sales, from a single product, which she didn’t even invent; she didn’t have a great idea, but she did have a great market, and that’s what you need if you want to be successful in business.

So, thank you for watching. Hopefully you’ve got something out of this, and stop trying to think of a great idea. Start finding markets. Alright, have a good day. I’ll talk to you soon. Bye for now.