I wrote a book (shocker, I know) about making products. Here’s the first chapter:
The creator mindset
This is less of a how-to guide and more of a mentality framework. That’s why it will take me a while to explain everything to you. I have no way of knowing what your skills and/or mindset is at the time of you reading this, so feel free to skip ahead if something gets too elementary for you. Though I wouldn’t suggest that, we can always learn something when going back to basics. Also, I’ve sprinkled some good (I believe) advice all over the place.
So, what is this way of thinking?
Basically, I’m going to explain how I create a new product every single day.
I know it sounds impossible, but it’s really not. It’s very doable, and it’s a magnificent way to create passive income, multiple income streams and if you’re a little bit lucky, to create wealth.
This isn’t a get-rich-quick scheme, simply because it’s not quick, and it’s not easy. On the contrary, most people will give up at the very beginning. When I put my skills on my CV, I need an entire page just to list all of them. This guide is for polymaths, skilled people who are willing to learn new things and always keep growing no matter their age or background.
Now, I’m going to boil down the entire thing, and then go through each step in the later chapters.
Simply put, you need to own Intellectual Property (IP). International law gives you ownership of everything you make, so that’s one easy way to get some IP. Make some stuff. Books, music, art, whatever you can. The second way to own IP is to buy or rent it from someone who made it. Now, while this is a very viable way to do everything that I describe in this guide, it’s not what I’d recommend. First of all, it’s expensive to begin with and you might not see returns for a long time. Second of all, it defeats the mindset I’ll be talking about.
But really, if you can’t create professional-level widgets and are better off doing the business side of things, go ahead and buy or rent some IP. The ethical way to do this is by purchasing rights from an artist for example, for a long period, something like 10 years. Trust me, you don’t wanna be fiddling with anything less than 7 or so years. 5 years at minimum. Keeping track of rights holders is a full-time job in and of itself, and it’s not what I’m talking about in here. Also, you don’t wanna go the other way, that of scamming artists and non-business people out of their hard work. Feel free to buy across-the-board rights to use their widgets, but keep it ethical and set a time-limit and terms for extension.
After you own a widget, some piece of IP, you’re gonna start figuring out ways of making products out of it.
My definition of a product is very wide. Anything that can make you money is a product. A blog post on a monetized blog is a product. A book made out of those same blog posts is a product. A piece of music is a product. An illustration is a product. That same illustration printed on a mug and sold for 15 euro is another product. Get my drift?