How to Make Your First Million via Product Creation

I’ve reached a plateau. I’m currently stuck at the $100k revenue mark and I need advice. I’ve re-listened to my Audible library and consulted my books over again to no avail. I focused intensely on the thought for the past month. I’ve sent it out to the universe looking for a sign and buried it deep in my subconscious hoping for something to sprout. Then something incredible happened. A mysterious Audible suggestion caught my attention: 12 Months to $1 Million by Ryan Daniel Moran. It’s a roadmap for the path I’m currently on. I found myself tickled with excitement as he describes many of the initial steps I discovered on my own. The fact I had literally experienced what he was talking about made me feel what he was saying is true. What’s more, he even goes on to describe the steps beyond where I’m presently stuck. I discovered my answer.

I’ve had reasonable success with a couple products due to filling an existing need for a very niche group of people. That part was correct. But I now know what my problem is. I’ve been focusing on a single product to get me to my first million. The problem with my product is that it lacks a passport to cross into the mainstream. It’s stuck inside the niche. When examining the success of entrepreneurs I admire, many of them have hit a home run with a single product that launched them into the next ballpark. I attempt to duplicate their formula and I’ve only managed a couple base hits. I was almost ready to resign to the possibility that maybe I don’t have it it me. In a flash of sudden realization, I remembered that four base hits still equals a home run and I’m halfway there. I just need to keep going and that’s where Ryan’s book really helped bring home some much needed concepts and ideas.

I discovered qualities of a million dollar brand. The brand has a single gateway product that grows to three to five products. One should have these in mind before even starting on the business. I noticed that pre-workout supplements to specific niche groups seem to have been the gateway product for several entrepreneurs I’ve read about. There’s a lot of competition now for that arena and I believe that ball has moved. I think it’s important to note is that these products are consumable, habit-forming, with an obvious queue (before workout) and reward (caffeine boost). These meet the magical formula found in Charles Duhigg’s The Power of Habit. By creating a habit loop and placing a product inside, you can create a money machine of recurring sales. The product has to appeal to the senses. It must possess something the consumer can feel, taste, see, smell, hear. It should leave them feeling satisfied and associate the product with that positive sense. It should solve a pain point as well. It prevents feelings or sensations of pain, embarrassment, or discomfort. I’m starting to get it.

What niche of people do I presently belong to where I can sell three to five consumable products? That’s the million dollar question. Potentially ten, a hundred, or perhaps even a billion dollar question. The answer more satisfying than you can ever imagine. The secret is… to pursue your passions. Everything you’ve ever been interested in, do a full-dive into it and become part of that group. It’s an exciting method because it allows you to experience all life has to offer and help you come up with ideas while you do it. The pursuit of this ambition is more valuable than the end result and that’s what I am learning while reading Ryan’s book. It’s more fun chasing the dream and meet awesome people you’d have never otherwise met along the way. Perhaps you can dream something even bigger and they’d want to follow to see where your dream leads. So get out there and do everything. But always keep your entrepreneurial spirit and open mind. The diamonds are always hidden in plain sight. Keep hustling.