…three steps to find hidden product opportunities in big markets and I'm going to give you the drill down method. This is where we're going to drill down into these bigger markets. Now, doesn't really matter. If you're just starting this will help you. If you already have a brand, this will help you. Now, you might see a theme here or recognize a theme over the past few episodes. I'm really trying to drill in to well, the drill down method of course but I'm really trying to drill into and really get a set in your mindset how to think about markets but then also how you can position products to certain markets.
Because as we move forward here in the Amazon world, in ecommecre world we're going to have to start thinking, I think anyway, we're going to have to start thinking a little bit bigger as far as not just a product. We're going to have to think about products that can serve a market and usually that lends itself really nicely to a brand. Whether that brand is small, maybe three four products or maybe it's a larger brand that has 20 to 30 to 50 products. It's really up to you but I think moving forward, number one Amazon is… We already know that Amazon is favoring brands.
Its brand registry 2.0 at the time that I'm recording this so we already know they are putting more emphasis on brand registry and you need a trademark even to be considered for brand registry and then they possibly will make it where hijackers won't be able to come on as easily or maybe they will even gate you. So all of that stuff is kind of in the direction I feel that it's moving. So for us, if we are going to put in the work, we might as well figure out how to go out there and at least have three to five products that's spread across a market.
[00:02:05] Scott: What I really want to talk about here is how to actually do that. It's funny when I was going through this, I was going through preparing my notes but then also figuring out what I was going to share with you as examples. I started going through these examples and this was done just for this episode and I started to discover these little pockets inside of these other markets and you're going to be able to hear me do that here because I have the results of that little deep dive that I did. I'm going to share with you.
So before we jump in, I did want to let you guys know or remind you guys about that 24 hour product discovery challenge that I announced probably about a week and a half ago depending on when this airs. Let's say a couple of weeks to make it safe. But the 24 hour challenge that's going to live on. So if you want to do it like right now, I would say do that first. Do that thing first because that will help you discover products. Then it will also help you discover markets because when we find products they lead us to the market. That's really what I want you guys to be able to do on your own and kind of get yourself in this mindset of doing it.
When you give someone a challenge it's like, “Well, we can do that. It's only 24 hours. Of course I can do that.” That's what I did that in that 24 hour challenge and it's really there. So this way here you understand the process but you do the process. So that's the 24 hour challenge. I would say definitely, definitely do that. That is 473 so theamazingseller.com/473 and that will take you there. I will also include it in the show notes to this episode which is 477 so theamazigseller.com/477. So let's talk about two things first before we dive into this little drill down method down here that I want to share with you. Open Brand versus brand focus. Let's talk about those for a second.
[00:04:02] Scott: You've heard us talk in the past especially with my good friend Dom Sugar in the open brand. Now, in the open brand I want you to think of an open brand kind of like a hardware store approach. What I mean by that is a hardware store doesn't necessarily sell specifically to one market or one thing. It's kind of like a barrage of things. It's got a lot of different things. It will have security systems, it will also have saws that you can buy. It will also have blades that you can buy but it will also have a lawn mower. So you can say, well yeah they are focused around like the home fix up or parts for your home. It could be but it's still a lot of different products, a ton of different products.
And you're not going in there because you're going to get your key made like in the old hardware stores. You'd go in there and you get a key made and then you might get a box of screws on the way out. Or maybe at the counter they'd have like jack knives that you can buy. It's like you go in there and there's a lot of different things that you could buy. It's not tailored towards one person or one thing. It's a barrage of different things. That's the open brand. Now, the brand focus is where you're serving a specific market. So I've been using the fishing example lately quite a bit and I'll use it again here today by the way.
But think about that for a second. If you go into a hunting fishing store it's really geared for one type of person or one thing. Now, you could argue and say well it's hunting but there's different types of hunting and there's different types of fishing and you're right. Then we can actually niche down into those different areas which I'll show you here in a minute. But you understand when you're going in there it's for that need or that thing. If you go in there and you're looking for tree stands because you're a hunter and you're going to be doing that for that season well you're going to go in there and you're going to see a whole bunch of those but then you're' also going to see the other accessories around that in there.
[00:06:00] Scott: If you're going in for fishing you're going to see things around fishing. It's the same idea. Now, you could argue and say well, isn't like Dick's sporting goods kind of like an open brand? Well, kind of in the sporting world but there's still focusing on sports. Now, you could take it one level deeper which we'll talk about here. When you get started you might want to do this is where maybe you carve out one part of that store and that's going to be your primary focus. They're Dicks Sporting goods but they don't sell their own products. That's why they are kind of like that open brand in a sense but they are catering towards the sports world.
For basketball, soccer, Lacrosse, softball, golf, bowling. Everything is in there. We could actually take parts of that open brand and create our own brand specifically for that one thing. That's what I like to do. But you could argue and say that that is kind of like of an open brand, which it is. Same thing with a hardware store. It's kind of like for you're going to fix your house. You have home repairs. It's a very similar thing and we could chunk it down or drill down and say okay we're going to cater towards plumbing. We're going to cater towards decks in the backyard. We're going to cater towards concrete work.
All of that stuff so we could technically find all these sub markets inside of that open brand that they've created. So yes, Dicks is like an open brand for sporting goods and a hardware store or a Home Depot or a Lowes is kind of like an open brand for the do-it-yourself and home repairs. You could do that but when you're first starting you don't want to be that wide. You want to go deep a little bit but you want to go wide after you've gone deep if that makes sense. But we're going to talk about that. So if it doesn't make sense it's okay. Again, we have open brand, hardware store approach or Dick's Sporting Goods approach.
[00:08:01] Scott: The only thing I would say is with the open brand what that allows you to do is it allows you to test different markets and different products without being confined to one market. The problem with that is if you can't do small runs then you're taking your budget, you're spreading it amongst all these different markets. So it works but it's going to be a slower road and you're going to have to throw a lot of them at the wall and see what sticks. Because nothing is going to really work well together because I want to build a brand that can help sell my next product or vice versa. So open brand, hardware store approach, brand focused focused serving a specific market. That's what we're talking about.
So why I like brand focus. Number one, it allows you to find multiple items to sell towards one customer. It's so much easier to sell a second, a third, a fourth, a fifth to that same customer than having to go and find another customer even in that one market but also this person over here bought a fidget spinner and this person over here bought a fishing rod. So we have two different, like the fishing rod person probably isn't going to be interested in the fidget spinner. Just isn't going to be. So you get the idea there.
Number two, building a brand and then having that brand focus also allows you to go deep in a market but wide with specific products. I'll demonstrate that here in a minute.
Number three, it allows you to build assets. An example would be email list, web traffic, if you have your own web traffic., social media channels and education. Education can be published on your blog, on a YouTube channel or any of that stuff. So all of that stuff are assets to me that could help really drive the brand.
Number four, it allows you to find and launch products easier on Amazon or on your own ecommerce store. The reason is, it's because once you find the market that you're going to serve then the next question is what do they need next? What are they going to need in this process? Then from there we can go ahead and then start to go wide with those products and now that we have our assets that are there, our email list, our traffic, our social media, all that stuff now we can drive sales to those platforms if we want to.
[00:10:11] Scott: Amazon or our own ecommerce or Shopify store, whatever.
Number five, it allows you to build something you can sell in the future and it's way more attractive than an open brand to an investor. So if you're selling or if you ever plan on selling and who knows, you might not be thinking even of that right now but trust me, as you start to build this thing and is it starts to show that it's got some legs you're going to want to have as many assets in that business as possible because when you go to sell it, it will be that much more attractive and you'll have… Number one you'll be able to get more for it but it will also have a bigger or wider selection of investors.
Again, just so I can recap here on when to use an open brand, really to launch small products or to be able to test a variety of markets if you're unsure. I personally would like to have you go through the 24 hour challenge because that will allow you to flush out all these ideas, it will show you how to lead to a market, or how they will lead you to a market and then from there you can say you know what, I see there's a lot of potential here and oh, by the way I really like this market because I'm interested in it. So why don't I just try to focus there and drill down a couple levels deeper where there's not a lot of competition. I'm not trying to be the top brand in the top part of the market.
I'm not trying to be the fishing store that is the top one in the area. I'm not trying to be that. What I'm trying to do is carve out a little part of that market and then dominate that part of the market. It will make more sense as I start to go through this process. So like I said, if you have not went through the 24 hour challenge that will be one of your action steps. You want to do that.
[00:12:00] Scott: That's episode 473. Go there, listen and execute. You're going to number one learn the process, but it's going to allow you to then see what I'm about to share with you here and then you'll be able to drill down even further.
So let's dive in. Action step number one, finding the big markets. We need to find the big markets. Those big markets can be exposed after you've done what I share with you in the 24 hour challenge which is really like create your touch list, what's your passion, what's your hobbies, what are some of your struggles or problems that you've had, what are some of repairs you've had. What are things that you're good at? Are you currently employed at a company that specializes in…? Maybe you work for a chiropractor, maybe you work for a dentist, maybe you work for a heating and cooling company.
I don't know but that is what you need to do in order to expose these markets. Once we find the big markets, an example would be like fishing. Then from there we have to drill down into sub markets or niches. So example, hunting and fishing. It's a big market. We know that and we can actually cut that in half if we want to. We can just go hunting or we can just go fishing. But let's just say that we went with both of those. We have bass fishing, we have deep sea fishing, we have ice fishing, we have fly fishing. That's just a few off the top of my head. For hunting we have archery, we have hunting trips, so let's say that you're going to go on this big excursion.
I know my wife's cousin they go every year. I think they are like Colorado or somewhere, I forget where. But they go on out there and they might even go Elk hunting or something like that or even a bear hunting or something. There's big excursion. Maybe that's the niche. You can look at the different types of gear.
[00:14:08] Scott: All of that stuff in the hunting and fishing space. You have to figure out the big market and you have to start to carve out a little part of that or drill down a little bit deeper.
Let's go into another example here. What about exercise? It's a big market. Huge, we can immediately create a smaller market in that big market by maybe going after women or men. You could go after both but I would probably pick one or there other to start. You can always expand later. So women, men, then we can talk about what's the next thing that we can drill down a little deeper? Weight loss. That's another one. Or maybe we're going to go after muscle building. Or maybe it's muscle building for 40+ year old men. That's going to be that market that you're going to go after. We can talk about cardio, we can talk about yoga, we can talk about cycling, we can talk about runners, we can talk about spin classes.
Again, we can go really, really deep even just by segmenting and going into over 40 or over 50. That's another sub sub sub market and it could be exercise for muscle building for over 50 year olds and that could be what you're going to go after. Then you would say, okay, what's the thing there that they need? Well, they are going to need dumbbells, you're not going to sell dumbbells but you're going to have these straps or maybe you're going to sell maybe at that age too because we get a little bit older we need certain braces or maybe sleeves or compression or whatever. I don't know.
I'm not in that market so I don't know. But you see with where I'm going with that. We started with exercise which is huge and then we just started to get our little sub market there and then we can tailor everything to that. That's where we can start to focus our energy. Playing music, piano, guitar, bass, drums, orchestra. And that's just a few.
[00:16:03] Scott: There's a whole bunch more if we keep drilling into that. But that's another big market so if you're into piano you're going to be all about the piano stuff. If you're into Guitar it's all about the guitar stuff. Now eventually yes you could have that brand that introduces piano now or drums. Yes you could but to start you want to pick one, especially if you have one that you can figure out there's a way that you can make yourself different or if you have an expertise in it or if you know someone that is. So that's again, another way to find a big market and then from there drilling down deeper.
I got two more examples.
Outdoors. So we can say outdoors is similar to hunting and fishing but let's just say it's outdoors and we're talking about hiking and biking and camping and rock climbing and skiing and boating and water skiing and weight boarding, et cetera et cetera. You see what I'm saying? I can keep going with all of those different activities that come along with those things in the outdoorsy type of market.
Another quick one, pets. We all know everyone's got pets. I have a dog, I love him so much. I'll do anything for him and there's things that I need to buy for him whether he has a problem which he had back surgery not that long ago. You guys heard the story on that. Those of you that are long time listeners, he had a major ruptured disc in his neck so that was a big deal. From there we might have to get a certain set of stairs so this way he doesn't have to jump off the things. All those things weren't in my life a year ago but they are now. Again, going back to the 24 hour challenge, that's what we do in that 24 hour challenge. We figure out some of these things that are happening that we are not even aware of or that we can drill into. So pets. Like I said, we can carve out markets just by going into a specific animal.
[00:18:03] Scott: So dogs. We've got cats. Then from there we can say okay, let's say we got dogs let's maybe then niche it down and go into pugs or maybe we go Rottweiler. You see what I'm saying? Now, we've customized the even a little bit further or niched it down, or drilled it down a little bit deeper below just pets, just one level below dogs. So now we've go specific breed. In that breed we might have certain things that those breeds need or things that their owners are going to use versus a pug owner. Again, dogs, cats.
We've just did that, now we've went down a little deeper inside of that. Now, we can also talk about types of training. We can talk about trainers. Maybe you're a dog trainer. Maybe you're just an animal trainer in general. You've got a ton of information that you can share in your brand, bringing awareness to it and you also know what that market needs. Now, if you're not a trainer, and you wanted to still go into that space because you have an interest in it or you think it would be a good brand to build or you know someone that's a trainer or whatever, well, then that would be a great opportunity for you to tap into that because now you can say, wait a minute, what does a trainer need?
Or what does the trainer recommend to their customers? There's certain training devices. All of that stuff. We also have pet problems. Maybe there's now all of a sudden now we have a dog, we have a Rottweiler, and let's just say that the problem with that dog is you don't want the dog to bite someone. I'm not saying that Rottweilers are going to bite you but I've got a friend of mine that had a ton of Rottweilers and they were great dogs for us but they are scary but maybe there's a certain thing that you have to put over their mouth when you go out because you don't want that even being a possibility even if you know how trained they are. I don't know. Maybe that's something you need. Maybe it's not.
[00:19:57] Scott: Maybe as a trainer you would recommend that. So you see what I'm saying. Pet problems could be like cat peeing in the house. There's these different things that you could buy to help you train the cat to go in a litter box or in a certain area. All that stuff. Some of the stuff I have no idea what I'm talking about but you can tell that. But you get what I'm saying. We just got to keep drilling down deeper and deeper and deeper. Don't just look at the pet collar. That's standard, it's generic and everyone's going to do that. Also figure out where you can then build out product inside of that market, not just one off products. You should be able to bang on off three to five different product ideas pretty easily.
But the idea is to look at the market as a whole and drill down to find less competition into a smaller part of the market. So let me just say that one more time. So this way you can get a visual of this. The idea is to look at the market as a whole, you can't see me right now but I'm doing as a whole, I'm like putting up my hand, like a whooole market. Look at it that way and then drill down to find less competition by going into those submarkets or even sub sub markets and find a smaller part of that market that you can go in and then you can create a brand in there. That doesn't mean that later you can't grow the brand to be a little bit more across the board.
Now, you might start with your pet brand for dogs being around Rottweilers. Then from there you're going to add pugs, and then from there you're going to add… You've got a bunch of different breeds you can add later which is great because that means you to grow. So that's what I mean there. So again, another little example would be like fishing and then bass fishing and then Kayak bass fishing. See we went fishing… Actually you could have went like fishing and outdoors. Then you say okay, let's just go fishing and then from there that's a big one. Now we go bass fishing. We've just narrowed it down and then we went kayak bass fishing. That's another submarket of bass fishing. Which by the way I don't even know it existed until I was doing this exercise for our private label classroom one weekend and we stumbled on kayak bass fishing which is crazy.
[00:22:10] Scott: But yeah, there's a whole market there, they do tournaments everything. So that's pretty much what we are looking at there. So that's really step one is find the big markets and start to see where there are submarkets inside of that markets. So that's step one.
Actually step one, find the big markets and find those submarkets or sub sub sub markets inside of that big market. So that's action step number one. Action step number two and this is something that you might not have heard before and I'm going to give it to you right now and I did this as an example. I'm going to give you want I came up with by the way. Go to Google, don't even got to Amazon yet. Go to Google and search for whatever you're looking for. In my case I did an example that I was doing before I got on here for kayak fishing. So I just typed in kayak fishing.
I didn't even do kayak bass fishing. I just did kayak fishing. Then you're going to come up, you're going to see a whole bunch of results in Google. Well, on the top you're going to see tab it will say images, and then from there you'll see another tab it will say shopping. You click on shopping and now it's going to give you all of the products that are coming up for kayak fishing that they have as a Google shopper or as a Google result. Here's what I did. I clicked on that product that came up or those products and I was able to drill in deeper. From there then I would go over and I would start to look at the numbers and all that stuff.
But I'm getting a little ahead of myself. What you want to do is click on products tab inside of Google, they have a filter set up there and you can filter it by price if you want say like $0 to $200 or if you don't want to put any filters you're just going to have a lot more results which is fine. You can also do it by brand. You could filter it if you want to. I didn't filter it.
[00:24:03] Scott: I just said let me just see everything. So filter by price or brands if you want to but you don't have to. What I seen which came to my mind right away or my eyes right away that I seen was this kayak fishing vest. It was an adult oversized and it was turning grey. It looked like this vest that you would that had all your stuff in it. So again, you're in a kayak. Not a lot of room. Not a lot of space for storage so this vest had a lot of different stuff in there. I believe there was some safety stuff in there as well. But there's all this stuff in this vest that you can have as a person that wants to go in a kayak and fishing.
Not even necessarily that's for bass fishing. We can probably even find one that's really geared for bass fishing for the kayak versus it just being a kayak fishing vest. But in this case I came up with that once. I'm like okay, cool. I didn't get this idea from Amazon. I got this idea from Google search. Now, what I did is I went over to Amazon, I typed in the same thing. Kayak fishing vest and I seen the same exact same one which is an Amazon's choice and it was $51.57 and it was selling 136 per month on Amazon alone. Now, I can almost guarantee you that they are probably selling some n their website too because that link on Google went to their website.
It did not go to Amazon. When I went to their website it had a shopping cart that you could buy it there versus going to Amazon. But here's the deal. On their website it was $45.91. On Amazon, the one that I was looking at, the size that I was looking at was $51.57. I was looking at a large and on the website I think it was maybe a small or something. Their price varies on the size. On Amazon it was selling for $51.57 and had 136 per month that had sold and that was most recent and then 56 reviews. So only 56 reviews is all it had. Now, the other thing that I was doing of course is I was looking at other sellers that are selling as well.
[00:26:08] Scott: Well, I found one that's actually selling more than this one. So they are probably getting ranked for other keywords now because they are focusing a little bit more on their Amazon's present versus the other one is probably focused more on their web traffic. But it's a multipurpose vest and it was $39.99 and they are selling 238 per month with only 18 reviews. So guys I'm telling you I found this by doing this exercise so I could share it with you before I even knew the results and it just led me down this path. Searched on Google for Kayak fishing. I clicked on the tab that said shopping.
Then from there I went and I didn't filter but I could have. I looked at all of the products that came up and the vest pulled me and said, hey that's something that's decent size, it's not that big. Might be oversized, not quite sure. It sells actually for quite a pretty good prize. Might be able to source it for 15 bucks. I don't know. If you could and you're selling it for 50 bucks it's not bad. So it got my interest. So I started doing that research then I went to Amazon, then I started looking at the numbers. But I'm already thinking before I even went into that market fishing, bass fishing, kayak bass fishing. So I already had the market picked.
Now, I'm just trying to fill the brand that I'm going to potentially build. I'm going to try to fill it with products. Now, this product might not be the best product to start with. So now what I want to do is I want to go through and find other related products that are also selling. So now that I seen that this one brand is selling products, now I can just drill into their shop and see what they are selling. How many are selling. All that stuff. So now I already got it picked. Again, let's say that I am a fisherman. Let's say that I do some bass fishing. I might do occasionally some kayak stuff but I have this overall like knowledge about it. My first thing would be like this is awesome.
[00:28:01] Scott: Like I'm going to be able to number one create content around it, my buddies are going to be able to create content around it. I'm going to build a YouTube channel and show maybe every weekend when we go out. I'm going to get tips. All this stuff. That's what we're talking about. If I'm able to do that stuff and bring awareness to it, I'm going to be able to bring my own traffic to my own products. I'm going to be able to build my own email list because now I know I can take all these products, this vest and there are some other products I'll share with you here in a second. I can take the vest, I can take any other products I find, bundle them together and do this massive give away to these fishing groups that are interested in bass fishing.
The only people that are really going to raise their hand that are interested in bass fishing or kayak bass fishing. Then these products totally align with them. Hopefully that light but starts to go off. You're like, Scott I'm starting to get this. This is pretty good. I get it. So what I did is I did a deep dive inside of the brand now and I want to go in there and see other things that they were selling and then the cool thing is if you're using Jungle Scout what I do is I'll click on the brand and then I'll run Jungle Scout on that brand's page and I'll see all of their products and which ones are performing the best. Then from there I can decide if there's any other products that might be easier that I wasn't thinking of. I don't really know the market 100%. I know some of it but I just wasn't aware of that stuff.
I can totally do that. That's exactly what I did here. There's actually another one by the same brand. A different style vest that is selling for $41.29 and it is selling 893 per month. That one there has 749 reviews. So let me see here, which one would I start with? The one that has 56 reviews or would I start with the one that has 749? I would probably start with the one that has 56? Why? Less competition. But I could eventually release that product. There's other ones too that I'm looking at. There's another one here that sells for $100 and I'm not quite sure why.
[00:30:01] Scott: I haven't looked at it. I'm just looking at the screenshots from Jungle Scout. 251 sales. 173 reviews. There's some other ones too that are selling not as many. This one here is selling it for $89, it sells 107 a month, 118 reviews. So not crazy, crazy numbers. Not crazy numbers. Here's the next thing that I did. Scrolled down a little bit and I seen frequently bought together. Now, the cool thing is if we're not going after competitive markets you're not going to be confused and you're not going to be fooled. I guess that would be the better word I'm looking for.
You're not going to be fooled by the frequently bought together. Here's what I mean. If you're in a competitive market where they are going after a ton of sales and they are going after a ton of reviews they are probably blasting their products with extreme discounts, like 90% off or more and what's happening now is if when you see frequently bought together that's from those groups that they gave it away to. So now what's happening is you're seeing the vest is also with a garlic press. You're like, wait a minute here. Is someone using the vest and the garlic press to press some bait or something. I don't know. It's not accurate.
But the cool thing is is when you go after these lower competition markets or the sub sub sub markets, you're going to start to see that that totally makes sense when you see the frequently bought together which in this case it does. So I'll share with you what I'm seeing here. Guys what I'll do here I will throw these in the show notes too so you guys can see my screenshots. I think that will be helpful for you guys. Frequently bought together, it's the vest and then it's a paddle leash with a two rod leash set, three leashes total plus one looks like a hook of some kind and it says it's built to last. So a paddle leash with a two rod leash set.
[00:32:02] Scott: Three leases total. Then we move down the list a little bit. We got complete folding anchor system. So the one the paddle leash only sells for $11.99 but it's like rope. That's it. So probably can source that for like two, three bucks. Now, would that be a product that I would start with? No. I would start with something that's at least $20 or more. In this case the vest is selling for 50 bucks. I can source it for $15, that's a go. We can definitely do that. The leash set that would be something would be secondary. Again though what's cool about that low ticket price you're going to probably get more eyeballs on it which will then also lead you to your vest eventually. Now, the next one is like I said, the complete folding anchor system.
Again, this is a small little anchor system, you'd take on your little kayak that would hold you in position while you're doing your tournament or while you're doing your fishing. That is $21.49. The cool thing here is if I total them all up, they've already done it for me. All I have to do is add all three to the cart and it's on my cart and it's done. Like I just sold three items now to the same customer. $87.08. That's what happens when you have more than one product that could be sold to that same person. Again, hopefully that light bulb has gone one for you, right now.
All three of these products are totally private label. You can private label them, it's what I'm trying to say. So you could totally do this and actually there is some that are doing that. So let me just give you some numbers on those other products. The paddle leash 1,000 sales a month with 540 reviews. So probably again, not one that you would start with but would you add that? Yes. The complete folding anchors. $21.44, 646 sales and that one there had 200/300 reviews.
[00:34:08] Scott: Again, it's 646 sales. That's a good number but here's the deal. Someone said well Scott, that's 650 units a month. That means that if I'm going to rank I have to basically compete with that. Not necessarily because you're also going to be looking at anyone else that's selling those and I took a quick look and a lot of them are selling maybe 200 to 400. So because of that I just have to really compete with those to get a little bit of that traction or a little bit of that traffic. So again, that's what I would look at there.
So again, three products just by doing this exercise because I even started this podcast, before I even started this episode I never knew about those three and I discovered those literally in less than ten minutes going through this exercise that I'm sharing here with you today. The other one I found that would be another add-on product later is a fishing lanyard. This fishing lanyard is there's six of them in a set. They sell for $6.99. So again, really cheap, selling 632 with only 51 reviews. Looks like these are ones that you'd put on your neck but kind of got that little coil chord on them and they've got a little latch.
So it's not just like a lanyard you'd get at the local store that has like under armor or something on there. It's actually made for fishing. So it's a fishing lanyard. That's $6.99. Again you see how we're starting to find these other little pockets that yes we might not sell that out of the gate because the profit margin is going to be low there. There will be a great lead magnet in a sense or a lead to get people in to see our other stuff. We have the fishing vests, that's the one that we want to really bring people to because it's a higher price point. Then the anchor would be next and then we have the paddle leash. Then we now have these lanyards. So I've got four of them right there.
[00:36:00] Scott: Four of them, and all we did is a little bit of deep diving here. I can keep going on this. I just spent a little bit of time doing that so I can have some examples for you. So, let's wrap this thing up. The action steps here for you, numb one if you missed the 24 hour challenge, do that first. Go to theamazingseller.com/473 and do that. Then you'll be able to come back here and you'll be able to do a little bit deep diving. Once you do do that, here are these five steps I want you to do.
One, take one to two hours and pick a market.
Two, drill down, and find sub markets or sub sub sub markets.
Three search Google and select shopping or products depending on what it says in your browser. Just look for that. You'll see it like where you see images so if you search for garlic press you're also going to see a tab that says images after the results. Just click on the one that says shopping or products. You can go to Yahoo and do the same exact thing. Go to Yahoo do it. Go to Safari, do it. Use that. Use those different browsers.
Number four, search Amazon for the products you discovered. See how we're doing that in reverse? We're using Google to tell us what the market would be buying. Then from there we use Amazon to then get more ideas and start to drill into that market because that's where we're going to launch the products.
Then number five, it's really simple. Rinse and repeat and keep doing that. If the one market you pick is not going to pan out for you or maybe you're like I just don't think that I'm going to be able to build a brand in this, then skip it, move on, go to the next. The main idea here and the plan is really to build a brand that sells a product to a sub category in that market to get started. Then from there we can expand out if we want to. We can eventually expand out of that sub market and get into the main market. Kind of like the Dick Sporting goods in a sense if we want.
[00:38:03] Scott: You don't have to. You can always stay really, really focused on that crowd. Now, people get stuck in this phase. And to me it's because they just don't know where to start or they don't trust that they are going to be able to do it. Number one it is a mindset thing. You are going to have to trust yourself at some point. You're going to have to trust yourself. But that's why I want you to just get in the mindset but also in the… Get some momentum. By getting some momentum, that's the 24 hour challenge. That's why I want you to start there because you're going to be able to go through this process. You're going to be able to have some light bulbs go off and you're going to be like this makes sense, this is where I'm going to start spending some of my time.
Now, recently we opened up something we call product discovery boot camp. It's really where we're doing this exact same process but we're doing it right along with you. If you're interested in that, like maybe I'm giving you this free stuff but if you want more of a deep dive, if you want more hand holding, if you want to actually go through that process or see us go through that process, then definitely check out productdiscoverybootcamp.com. The details will be there. We did open it up to a small group just as a beta group. So we can go through and teach the content, that's how we do all our trainings in the beginning.
Then from there we open it up to the public. So depending on when you're listening to this it will be open but go check it out and if it's not open just get on the wait list and we'll let you know as soon as its open. But that right there is designed and it was created to take you through this entire process because moving forward, building a business and a brand and only going on Amazon is really, really risky. But if you go out there and you figure out a way to create your own brand but then also use Amazon so you can launch products but then you can also sell products there for however long you want to but you also have the advantage and all of the different things that you've done within that brand to drive it forward but it starts with product research.
[00:40:05] Scott: So again guys if you want more information on that productdiscoverybootcamp.com check it out. Our goal and mission is to find products that lead us to market. Plain and simple. That's what it's for. We want to build a small but eventually a larger brand or maybe just want stay small. It's fine but eventually we want to have a bigger brand and we want to create assets in our businesses that we can leverage. I can't stress that enough. When you have the assets in your business, like an email list, like social media, like YouTube channel, like any of that stuff, any of that stuff will help drive sales that can help you on Amazon too because it's going to drive sales and we know that Amazon wants sales.
And they will reward us for that plus another little side tip, investors will love these assets when you're ready to sell if you ever sell. So just keep that in mind. Get yourself unstuck if you're stuck, whether you are just starting or you have a business in the brand already you need to get unstuck and hopefully this 24 hour challenge will get you unstuck. If you need further assistance definitely go to productdiscoverybootcamp.com and that will definitely get you unstuck. We're going to actually go through this entire process for four weeks. At the end of that four weeks we'll even be talking to suppliers and getting examples at that point.
If you're interested productdiscoverybootcamp.com. All right, to wrap up I wanted to give you two quick examples of a couple of brands that did exactly what I'm talking about right here. Now, they didn't really set out maybe to create like this major brand. It happened but if you look back and see all the different components, it really adds up to what we're talking about here.
So the first one is BulletProof coffee. Some of you may or may not know what that is. BulletProof Coffee is, just to give you a quick version, it was where a guy created coffee using butter instead of cream and also adding some other things to it, some other oils and stuff.
[00:42:00] Scott: I think it was even coconut oil and some other people are making their version but whatever. He put his spin on coffee and having better effects especially for your brain. Also energy and all that stuff. And I'm not going to go into all the details because I don't know all the details. Chris Shaffer would. So what's cool about this is all he did was start sharing, putting butter in his coffee and oils. That's all that he was doing and he was talking about how it helps you focus, gives your body better fats. All that stuff. Did it on YouTube, did it on Facebook, did it on Instagram and he's started to get some momentum.
But here's what he did moving forward. He started to bring awareness to this, he started to give people the knowledge about it because this was his expertise. What was his next thing that he would do? Create his own coffee blend. The BulletProof Coffee blend. It's a premium coffee. it costs more than what you'd buy in the store but it's made by BulletProof, the person that created this whole movement of having this certain type of coffee of brain focus and all of this stuff. So then the next thing he can launch is his how oils for the coffee. Done that. Then the next thing he creates is, I don't know if these are on order or not but these are just thing that come to mind for me.
He created what he calls fat water. It's a high octane water, it's got very similar to his coffee stuff it's all about high octane or better oils for your brain function , all that stuff. So it's all the same but it's different. Then he came up with his own bars. These little tiny little bars but they are packed with all of these nutrients and oils and all of that. Then he's come up with shirts and mugs for people that are 100% like bullet proof people or his people, his tribe. That's how he did it. Now, he's got this major brand that is crushing it right now.
[00:44:03] Scott: But again he found a market, coffee, he niched it down to where people were like well I like coffee but now we're talking to people that, they like coffee but also people that are interested in brain function and focus and clarity and all that stuff. Now, he took that coffee market and really just segmented it or just took a little bit of a slice of it to other people over here that were interested in this. So we merged those two together. It's pretty awesome that he was able to do that but he did it and now he's created this brand that's around it. Is it coffee? Yes. Is it different? Yes.
Is there a different thought process behind it? Yes. Are you drinking coffee in this case for different reasons? Yes. You're not just drinking it because you enjoy the flavor which it is pretty good but you are also doing it because you know what it does for you. So, again, I'm just sharing this with you because it's a perfect example of how someone took a basic thing like coffee and turned it into something that can be different. So again, just for you to think outside the box a little bit. That doesn't mean you have to go out there and create something brand new but if you can put a spin on it or even just by reading people's reviews and create yours different, that's one way you can differentiate right out of the gate.
You may just start a brand just to get going and then you may see these other openings or these other pockets that you're going to fill and make your brand serve them. That may happen but you got to get started. You absolutely have to get started. The last one I'll share with you and again it's funny it's up the same alley, Death Wish Coffee.
It's the same idea as the bullet proof except this one here is the strongest coffee. It's known that this here will perk you up. This doesn't have the oils and all that stuff. Just a quick story, back story on this. The owner, the creator of Death Wish coffee started this because he had a coffee shop that everyone would come in and say, “Hey, give me your strongest cup of coffee. I want something that's just going to perk me right up.”
[00:46:02] Scott: He's make this blend and then he started to bag it up and sell it online, a couple of bags here and there. Long story short he's making all different kinds of coffee now. He's making cold brews, he's got all this merchandise that he sells that support Death Wish Coffee because you're part of the Death Wish Coffee, clan, whatever. It's a movement in a sense. It's a tribe that he's created all around coffee. Just because something is created does not mean you cannot create a better version or a unique version or a stronger brand. So just keep that in mind.
So, let's go ahead and wrap this thing up. I went way longer than I thought I was going to. In my head I'm like oh, 25 minutes tops. Had a lot to cover I guess. When I get talking you guys know I get excited and I just want to make sure I cover everything. Guys that is going to wrap it up, I will remind you on a couple of things. The show notes can be found at theamazingseller.com/477.
I'll also link up the 24 hour challenge there which is episode 473 and then also if you were interested in joining us, go through this process together then head over to productdiscoverybootcamp.com. It's our brand new training, which is going through this exact process that I'm talking about but really going through it and deep diving and also discovering how to find the markets and where they hang out and then being able to dive deeper into those as well.
So when we get out there to start promoting our items, it's going to be that much easier. All right guys, that's it, that's going to wrap it up. Officially, here remember as always I'm here for you, I believe in you and I am rooting for you but you have to, you have to… Come on say it with me, say it loud, say it proud, “Take action.” Have an awesome, amazing day and I’ll see you right back here on the next episode.