FBC – 183 – Can Your Biggest Strength Become Your Biggest Weakness? Answer…

Can Your Biggest Strength Become Your Biggest Weakness?

Today, we are going to talk about something counter-intuitive… It is possible that, what make you special, could cause your downfall?
Story and answers inside.

This is something, people don't think about.

Remember when I told you that when I was starting in my affiliate career, I was looking for the products that I wanted to sell? Right. So I had to find a product that was in demand that people were going to buy and convert really well. These are some of the things that you're looking at.

But one of the things that I was looking at was also something that people can buy repeatedly. So you have some items that you can sell for a large amount of money. Right. So you can sell, I don't know, a fridge or you can sell like a flat screen TV or something. So generally the margins are not going to be the best, especially if you're going with Amazon, because they will give you like 3 percent or something, which is not much.

My problem was that these are not necessarily items that people will buy repeatedly. Right. So if I sold you a TV yesterday, you're probably not going to buy an early TV tomorrow or next month. All right. I will need to figure out something else to sell to you. OK. So that was one of the criteria’s that I used and I always and still use to determine which market I want to go in. And I use this formula to this day.

Can Your Biggest Strength Become Your Biggest Weakness?

So the story is a company called Crocs. I'm pretty sure you know this company. You know these plastic sandals that can go in the water. You can walk with them. You can run, you know? And the story about crocs is actually very fascinating. And when I heard that the first time, I was like, dude, I never would have thought about this.

So the crocs were so solid and so well designed and stuff. And they sold everywhere! But the thing is that the company made these shoes so solid and so well designed that basically you could kind of keep them for life. Right. So once you had a pair, it's not going to break. All right. So which is good.

This is what you want to do. You want to manufacture quality items right. But here is the problem. And this is a problem. I never actually thought about this before. I read something about Crocs. The company was struggling. But everybody's raving about these shoes. Why are they struggling? They're selling a lot of them.

So the problem was that the shoes were so well designed and so solid that, well, as I said, you only needed one. Right. It was not going to break or anything. Right. It's not like you had to replace it. So basically, you know, that's why I said it's counter intuitive. They created a product that was so solid that it wasn't creating repeat buys. Right. So basically, if you sold the crocs to someone, then you pretty much had to figure out someone else to sell that to.

And that was the main problem for the company. They couldn't get people to buy more than one pair because they were so solid. Right. Is this something you would have thought of? Right. When you're designing like a business, you will pride yourself on the fact that.

Dude, my product is so solid that it doesn't break. It's good quality. But here's the thing. If the quality is too good, then basically you need to spend a lot of money in acquisition. All right. So acquisition, that's where you spend a lot of money. You basically have to convince people to buy your stuff. And that costs money.

Whereas if you're marketing to your existing customers, then it doesn't cost money. These people are already convinced and it's way cheaper. But, you know, if you have too good a product, then this is something that happens.

You know, I think there was this investigation done on Apple and like Samsung, where the manufacturer is deliberately limiting the lifespan of your of your device. So basically, your device has an expiration date. You buy a TV and there is setup.

You know, there is this like really small component that's configured to fry in the next three years. And then when it's fries, you have to replace the whole thing. If you're wondering why exactly they are doing this, it is because they want you to buy more.

But ethically, you know, some people will stop at nothing to get you to buy stuff. So I'm just curious, have you ever considered the fact that your product might be too good for its own good? You know, it's crazy, right. So that will apply basically for physical products more than anything.

If you're doing a digital product and your digital product is good, then people will actually go and buy the rest. You know digital products to say it's different, but a physical product that's way too good and way too resistant to stuff is going to cause that kind of problems.

So anyway, the issue here is not whether I mean, you're creating this physical product, beware of this. What I'm saying is when you are starting a business, you need to think about how often people are going to buy whatever it is that you're selling. It is vital for your business.