The month of February I'll be offering a money-making tip every weekday. Here's the one for today:
Make money by developing and selling a product.
This money making idea is from MSN Money. The details:
Develop and sell a product. I have good friends who have designed a children's game and are in the process of producing and marketing it. It's a lot of work, but they are passionate about the work, and the potential payoff is huge.
Of course, you could also find an existing product and sell it -- through eBay, door-to-door, or through a variety of other channels. The key is developing/finding a great product that people want or need.
Anyone working on this? If so, can you share with us what you've done/are doing?
I have an aunt that makes some weird type of homemade candles and sells them on eBay. Her selling price is about 15x her cost of goods. Insane what people will buy these days.
Posted by: Matt SF | February 12, 2009 at 04:05 PM
I enjoy you post because i have been out work for a
while and i have being thinking about making a product
selling something someone needs but i need an idea to stick with ,i look forward to more money ideas
Posted by: erica Darmstadt | February 12, 2009 at 05:30 PM
I have inventions that I've been wanting to bring to market for years, but I don't have the organizational skills to run a company (I've tried). So how do you bring a product to market without going into business for yourself or getting scammed by one of those 800 number companies that advertise at midnight?
I've tried finding books on this subject, searched the internet, and even asked the question on Yahoo Answers. If anyone could give me the name of a book or a website, I'd be very grateful.
Posted by: Tarah | February 12, 2009 at 06:24 PM
Tarah --
How about finding a business partner that can handle the business/admin side of things?
Posted by: FMF | February 13, 2009 at 08:16 AM
Sounds like a great idea. I'll have to find someone I can trust who's savvy in business. That might take a while, but a lot less time than finding information on marketing ideas to existing companies.
Posted by: Tarah | February 13, 2009 at 12:41 PM
I created my own product; it's an audio CD of an interview that I did with a teammate of mine. He took 15 years off from running, came back in his mid-late 40s, and wanted to be the fastest 50 year old in the state by the time he turned 50. He is now only about 1 minute slower than he was 20 years ago and is one of the best senior cross country runners in the country.
I produced it for my newsletter (about running, obviously) and then found a service that cheaply prints and ships the CDs on demand. It's been selling moderately well despite my lack of promoting it so far.
Posted by: Blaine Moore | February 13, 2009 at 12:47 PM
Yeah I have a great idea I want to sell. Now, I'm thinking online but primarily on television. I have marketing skills, I can handle alone the business side of things. Where do I start to get my product out there?
Posted by: Jill Jane | March 25, 2009 at 11:17 PM