Product selection process in the arena.
FILL OUT CRITERIA
Fill out all the different criteria – so that you can hone in on the winning products.
WRITE PRODUCT #
Write down a product number – this is like a temporary unique code so you can refer to it later when you want to check what products you have been researching
BASIC NAME
What is the “basic name” of this product – don’t get fancy yet!
SELECTION Reminders
Here are common items to look for in the selection process
Category
What category – and how hard is this category
Brand-able
Is this something you can build a long term asset around?
Weight
Is it heavy or light?– for shipping costs
Seasonal
Will this sell year round?
Price Range
What is the price most of the competitors are selling it for?
Accessories
Is there a full product line to sell it under or a 1 product class?
Profit Margins
How much can you put in your pocket?
Daily Sales
How much is this selling in the current marketplace
NUmber of Reviews
Average number of reviews in the market
BSR Ranks
What is the best seller rank?
Product Keywords
Top 3 keywords that are money
Notes
Research & Opportunities: write down ideas and let it flow
ANALYSIS SUMMARY
What is the big takeaway?
KEEP OR KILL?
Put this on the short list or cut it?
How does that sound?
Using a product research journal is a great way to ensure that each day you are writing, finding out when is the best time to, and have a bit of fun too! See how many ideas you can crank out in one sitting and enjoy the results of more creative output.