the goose

Making money online is as much a creative process as it is anything else. Coming up with product ideas is excting but ever since reading the Four Hour Work Week, I have come to realise that I am more interested in building a lifestyle for me and mine than I am building products. With that in mind I first started thinking of customers that have problems – then seeking to come up with products for those problems. Often though, when I start the process germinating new product ideas I have to go one step further and think about the price I would like to charge irrespective of what the product OR the market is like. I like doing this because if I find coming up with a price point helps to crystalise what type of market I should be looking for. A key tool in determining a price point in my ‘money map’.

Staring at the map gives me food for thought. Thinking about potential markets I get an initial gut feel for the number of people in an initial niche along with the price they may be willing to bear. it is coloured according to what I consider to be the physchological pressure points. €9 and less is for the consumers, €25 for the business consumers and €190 for my ‘advoctes’. The idea here is to convert people up the chain until they become advocates, shelling out nearly €200 a month for the service. Of course there is a price point that isn’t mentioned on the map – FREE. Its ever more popular and and I haven’t come up with a way of visualising it in the same image yet.