- Some have been information products which I think can help me to improve my skills
- Some have been software items which I think will help me to do my job better / quicker / cheaper.
- Many have been various types of rights to products which I think I can add to my portfolio.
But where I do fall down big time is in the third category.
I have a butterfly mind. There - it's out; I've confessed!
Currently, I've got 1 product about to be launched, three in preparation, five waiting in the wings for me to look at seriously - and half a dozen which I can't ever see myself devoting enough time bringing them to market.
And I've spent quite a bit of money buying these half dozen products. I'm talking of $200 - $400 each.
That's serious money to me.
So why not learn from my mistakes. Here are my rules on when to say "no" to 'irresistable offers'..
- Does it fit in with my mainstream product line? If not, say no.
- Have I got the time to use it profitably within the next 8 weeks? If not, say no.
- Am I really enthusiastic about this product? If not, say no.
- Can I afford to spend the time / money developing this product idea? If not, say no.
- Is it going to improve my cash flow within the next 12 weeks? If not, say no.
- Do I trust the person selling this product to give me reasonable support? If not, say no.
- Is it going to lead me into new markets which have a reasonable chance of becoming acceptable within 12 months? If not, say no.