What’s the Actual Solution to This Mistake?
In this video, Matt reacts to another guru’s opinion on how ecommerce sellers should fix their marketing issues. Will Matt agree or will he have a difference of opinion?
There are tons of people out on social media giving business advice. Some of it is good advice, but most of it isn’t good. In this series watch CapForge’s owner react to different advice videos. He’s an expert in all things business and has 20+ years of experience under his belt. Some of the things he reacts to might even surprise you!
Video Transcript:
Business Advice Video:
The biggest mistake that people make when they start out is, they try to find some like revolutionary product. And I always tell people “Sell something that’s already selling”. That’s what I found success in. I found a bracelet that was trending online. It’s called a distance bracelet. It’s like the boyfriend has one, the girlfriend has one. I saw an ad of it, a month went by and I saw another ad of it, from the same company. So I looked up this brand that was selling this bracelet on Facebook. I went to their page transparency and I saw that they were running this ad for this bracelet for 6 months now. No one pays money for a product to be shown for 6 months if it’s not making them money. I went on Aliexpress. I found the exact same product that they were selling. Built my own brand around the same exact product that they were selling. And I just sold it cheaper, use better pictures than them. But that store went from 0 to 45,000 in like 2 months and I was able to quit my job.
Matt’s Review:
Okay, so the beginning of this I think makes sense, right? You don’t need to come up with a brand-new invention. Something the world has never seen before in order to start a business or launch successfully, right? In fact, it’s really the opposite. If you come up with something that the world has never seen before, you now have to spend a lot of time educating people on what this is, and why it’s better than anything else they’ve ever seen, and how it works, and what the price should be. And you know, explain everything about it before they can even think about whether or not they want it. But if you take something that already exists, something that is similar to something that or nearly the same as what people are buying, and like he did, you just put a slightly better twist on it, a better brand name, a better story, better images, better listing, targeted better to the right market of buyers, you can definitely be successful.
Now he took a product exactly like it was and just enhanced the marketing and listing a little bit. So not much of a variation. The less you are different from everything else that’s being sold, then the harder it is to stand out. So the happy middle ground is to find something that people are interested in and want, and have already proven the demand for, by buying. And then make it, make your version a little bit better, a little bit different, a little bit more desirable than the current options. And then you have a winner. So it’s not so different that they don’t know what it is, or why they would need it, or how it works, or why they buy it. But in comparing other options yours stands out as the best of that group of things that you’re potentially thinking about. So it’s definitely, I think a good strategy not to try to invent a brand new something but rather take something that’s currently available, make it better, and then market it as just like this but better. And then you’re gonna find a good amount of success.
