Original subtitles

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We need to have a serious 2

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talk. 3

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Okay guys. 4

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So a lot of people fail 5

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a product research is because of this. 6

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All right. 7

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They go in 8

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and they they see 9

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hot trend. 10

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They see something 11

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and they're like wow 12

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look at all that money you see all that 13

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money being made. 14

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I see it. 15

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I see it. 16

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You see the dollar bill sign in there. 17

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I see it. OK. 18

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And they think to themselves 19

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if only you 20

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I could just 21

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get a little bit right there 22

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I'll be good you know 23

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and that's what I like. 24

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A lot of beginners 25

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and even advanced sellers 26

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that I know will go after this 27

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little bit. 28

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They see money. 29

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I will go for that. 30

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But but what they don't look at 31

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is all the other important things of 32

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that market. 33

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And that's where I 34

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go. OK. So instead 35

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I go in areas 36

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and other successful people 37

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do this too. 38

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They go into areas like here 39

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and there's somebody here 40

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and there's somebody here 41

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and there's somebody there. 42

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But essentially in these markets 43

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there's a void in here. 44

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OK. 45

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And it may not 46

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always seem apparent 47

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but when you're going to do the research 48

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and look at the data you're 49

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able to see that there are these voids 50

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whereas these markets 51

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are even filled enough these 52

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markets are extremely 53

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full 54

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and these ones have voids in them. 55

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How do you find these ones 56

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instead of these ones. 57

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Well it's all based upon consumer 58

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needs which we'll talk about in a little bit. 59

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This one though. 60

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OK so essentially these 61

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ones that are really full 62

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and hard and everybody is like God I wish I could 63

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have that. 64

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There are few 65

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needs 66

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and the ones that 67

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are the best opportunities 68

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have not few 69

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needs. 70

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No they have not few needs. 71

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Not only do they have not few needs. 72

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They have many needs. 73

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Okay. Let me illustrate that for you. 74

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It's actually very simple. 75

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So essentially let's use 76

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my favorite pet glove example. 77

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If this is your first time hearing about the 78

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pet glove 79

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it won't be your last. 80

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OK. 81

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So we have this right 82

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here. 83

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Maybe there's two needs. 84

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Does it get the fur off your animal 85

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or actually does 86

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it de-shed it 87

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and I don't 88

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know I can't even think of the other 89

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customer need here. 90

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Maybe price 91

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or something 92

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but if we 93

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looked at. So if going to look at pet gloves 94

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essentially people 95

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are just trying to get that fur off their animal 96

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and they don't really care. 97

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They're 98

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not bringing it to the mall. They're not going to prom 99

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with it. They might be giving it to the 100

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mom for Christmas 101

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but essentially there's 102

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there's just basically 103

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at the end of the day you're just trying to get the 104

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fur off your animal. 105

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And so 106

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when we have this. Let me just. 107

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So when 108

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we have this just let me draw out the 109

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total choices that they have. You got the cheap one that 110

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de-sheds you 111

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got the expensive one that de-sheds. 112

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Alright. And then you have the 113

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two options that don't work. You know the cheap 114

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and 115

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expensive ones that don't work. 116

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So when you go into these 117

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it 118

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may seem like a awesome when you look at the 119

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price on Alibaba 120

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and you go and you see the volume 121

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and you're like wow I could 122

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do that. 123

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But essentially obviously people aren't gonna 124

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buy a pet glove that re-sheds. 125

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So those are cut out. Obviously you don't want the 126

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re-shedding ones. 127

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So you're gonna get the de-shedding ones. 128

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Okay. 129

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And then now maybe 130

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you could add one more factor reviews because 131

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reviews are important 132

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but the what 133

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the markets that they're 134

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the most important in are 135

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the ones where there's 136

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only a couple needs because you have 137

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here. All right. 138

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So essentially there's 139

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only two needs here. And if 140

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the price is the same 141

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and one is a one review 142

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and one is a thousand reviews you're 143

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probably gonna buy the one of the 144

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thousand. 145

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And same 146

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with the expensive one. 147

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So essentially there's 148

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barely any choices. Oh everybody's 149

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doing the same thing buying the same products from 150

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Alibaba. 151

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So that's just it's 152

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just mathematically very hard. OK. 153

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So essentially the only way you 154

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could really make it to the top would be with PPC 155

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spending a lot of money 156

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and really knowing what you're doing 157

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and still then it 158

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might not be successful because 159

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the needs are already filled there. Oh yeah. And then also 160

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everybody 161

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says it's cheap. I want to go into it. 162

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So there's a lot of people there too. 163

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Instead we want to go where reviews 164

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don't matter 165

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and I'll show you why they don't 166

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matter because here it's 167

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quite obvious that reviews matter when all else is 168

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equal you choose the one that is a thousand reviews over 169

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one. 170

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But we can go where doesn't 171

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matter you can sell zero reviews. 172

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So let's say there's eight 173

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different needs. OK. 174

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And before they 175

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were they 176

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were like binary. 177

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So they either yes 178

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or no it either got the fur 179

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off your animal or it didn't. 180

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It is either cheap 181

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or expensive 182

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and it either had more 183

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reviews or less 184

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but what if we go into one where 185

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there's eight 186

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and also when you start drawing 187

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and you know this customer wants 188

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you know this customer will want this 189

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and this 190

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and this you 191

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know so essentially they're there 192

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and then somebody else wants that 193

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and that and that you know there's 194

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another one here. 195

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But when you start to do this out 196

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all right. So what happens when you go 197

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where the customer wants 198

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that need and that need 199

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and nobody solving those 200

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needs. 201

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Well essentially these markets do exist 202

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out there and wait. 203

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What about one more thing. 204

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What if instead of a yes 205

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or no. Does it get the fur 206

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off my animal 207

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or not. 208

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What if there was like 209

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eighty five choices 210

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on one 211

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and then there were also other needs to 212

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well think about clothing. 213

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How many times in differentiation 214

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have they done in a shirt. 215

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And there's all sorts of products 216

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out there. 217

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Or the other thing is what 218

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about bundles where essentially 219

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you have different needs 220

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and different products 221

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and you're able to put them together 222

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and you're able to go where hey 223

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you're the only one 224

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with me meeting that set 225

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of needs. 226

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That's where I like to go 227

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because when you're going over 228

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here 229

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and you're the only one there 230

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well they're 231

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they're all the customers are 232

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determining and off what they need. 233

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And you're the only one actually serving 234

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their need. 235

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So we're gonna go into customer 236

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needs more in-depth than you 237

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guys. Understand this more 238

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but the key takeaway here 239

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is 240

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it's hard to go there 241

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and 242

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you could be the one if you go here 243

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and it's not as hard to go here 244

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all right guys. 245

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So when you go up here 246

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it's pretty hard. 247

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You need money you got to know what you're doing. 248

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You still there's no guarantee for success. 249

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But if you go where there's just 250

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a crazy amount of choices 251

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even if they were like two at each 252

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one of these you could multiply 253

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the math out 254

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and there will be thousands 255

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of choices because nobody 256

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will ever have all their needs fully met. 257

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So go into these markets 258

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where you can get a multitude 259

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of needs. 260

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So I was just thinking about this as 261

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I was blow drying my hair. 262

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Actually what most people 263

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are doing in the summary of this 264

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whole methodology is there's 265

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five hundred and fifty million products 266

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on Amazon 267

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and everybody else is saying 268

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which one of those 269

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and everybody else is saying which one 270

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of those should I copy. 271

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And I'm looking at it 272

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and saying there's 550 273

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million products on Amazon 274

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in what products aren't. 275

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And that's the good the whole key behind 276

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this is don't 277

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simply copy come 278

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in and find. 279

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Well there's 550 million. 280

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Well how do I make it better. 281

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Where's the holes. 282

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And by looking at these holes 283

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are where you're going to really find success. 284

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So that's essentially the summary 285

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of my methodology. 286

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Not like what should I copy. 287

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What should I create. 288

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We'll go in and explain what customer 289

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needs are what to look out for 290

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because there's utility ones 291

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and there's consumer discretion. 292

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And you'll know what that means 293

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and a little bit here.