Great Products Bring In The Money
In the first page, I mentioned that all great businesses and successful people started with an IDEA. A good idea is worth millions while a great idea is worth billions. Without an idea, many of the richest people in the world will not be where they are today.
But an IDEA cannot bring in the money if you do not have a product that people can use.
There are many people who have brilliant and superb ideas. However, they are not rich because they did not turn their idea into reality. An idea that exist in your mind is like a castle in the air. As good as your ideas are, people need to be able to touch and use your product before they will pay you good money.
Imagine what would happen if:
The world would not have experienced the range of great products that these rich people gave them.
But an IDEA cannot bring in the money if you do not have a product that people can use.
There are many people who have brilliant and superb ideas. However, they are not rich because they did not turn their idea into reality. An idea that exist in your mind is like a castle in the air. As good as your ideas are, people need to be able to touch and use your product before they will pay you good money.
Imagine what would happen if:
- Phil Knight only had an idea to make great shoes for people but he never started NIKE or made any shoes?
- JK Rowling had the idea to write the Harry Potter series but never put pen to paper?
- Sam Walton had the idea to build a hypermarket but never started his first store?
The world would not have experienced the range of great products that these rich people gave them.
Great Products That Benefited The World & Made Their Creators Rich
Every rich and successful person in this world had an IDEA which they turn into a product that benefit the rest of his/her fellow human beings.
There is always a demand for great products.
When you turn your great IDEA into great PRODUCTS that serve lots of people all over the world, you not only help others, you help yourself. People who enjoy your products will be willing to pay you a lot of money to use your products.
- Kiichiro Toyoda turned his idea of making great cars into a reality when he founded Toyota. Today, many people including me drive a Toyota. Their cars are reliable! In fact Toyota stands for "The One You Only Trust Always". Just joking.
- Mr Ferrero had an idea to create great chocolates. Today, people all over the world still enjoy the famous round chocolate called Ferrero Rocher.
- Amancio Ortega had an idea to create great clothing for people all over the world. ZARA was founded and still provides great clothes to everyone. According to Forbes, Mr Ortega is among the top 5 richest people in the world with a net worth of around $70 Billion!
- Enzo Ferrari had the idea to build great and fast cars. Ferrari was born and till this day, Ferrari cars are a symbol of wealth, sophistication and luxury. Ferrari is also one of the world's most powerful and well known brand.
- If you buy furniture from IKEA, you have Ingvar Kamprad to thank. Ingvar had the idea to make affordable furniture which people can assemble on their own. Today, Ingvar Kamprad is a billionaire many times over.
- Do you like Apple products? The iPad, iPhone and the Macs are the creation of Steve Jobs and his team. When they turned their brilliant ideas into great products, consumers all over the world voted with their wallet. Apple became the most valuable company in the world.
There is always a demand for great products.
When you turn your great IDEA into great PRODUCTS that serve lots of people all over the world, you not only help others, you help yourself. People who enjoy your products will be willing to pay you a lot of money to use your products.
Begin To Turn Your Idea Into A Product
If you always had an IDEA in your mind and you seek to be more successful and rich, it is time to turn your IDEA into a reality by making it into a PRODUCT.
The product should be:
- Of good quality
- As good or better than other products out there
- Be reasonably priced but enough to give you a nice profit margin
- A great help to your customer
We can list more qualities but just bear in mind that the most important thing is to produce a product your customer will enjoy and praise.
Turning an idea into a product is hard work. It takes a lot of time and effort as well. But in the end, if you capture the hearts and minds of your customers, it will be a very rewarding venture for you.
Your ideas should not be limited to producing products.
In fact, you can turn your ideas into services as well. And that will be the topic in the next page.
Previous Lesson: A Good Idea Is Worth Millions, A Great Idea Is Worth Billions
Next Lesson: Great Services Creates Billion Dollar Companies
