When you shouldn’t buy another product…
January 8th, 2007
Have you ever experienced “information-overload?”
Want to know something? It’s quite normal. I have gone through it before myself (a lot last year actually).
In fact, if you aren’t careful, information-overload can kill your business. If you spend all of your time purchasing new products and trying to learn new techniques rather than putting things into action, you will never make a penny.
There is a lot of good information to be learned, but that doesn’t mean that you should learn all of it at once (or at all).
So how can you decide if a product is right for you, once you know that it is a good product?
Over the past few months I have developed a philosophy that goes behind every single product purchase that I have ever made. By applying this simple policy I have not only saved myself thousands of dollars, I have also moved my business forward even faster.
Here is how my philosophy works:
1. I develop a strong focus on what I want to achieve in the next 12 to 18 months.
I sat down and really thought of where I wanted my business to go. What did I want to become an expert at? Where did I want to focus my efforts?
What could I really be “the best” at that would allow me to soar above any future competition?
Once I realized where my strengths were and what I wanted to do, I created a plan for the next 3 months, the next 12 months, and the next two years.
2. Every time a product is presented to me, I ask myself one simple question.
Here is the question:
“Will this product move me forward along my goals, or will it distract me from my goals?”
Let me get something straight - there will always be more “opportunities” to make money. There will always be more great products to purchase.
The lack of products is not our problem, it’s the lack of focus.
I have passed up some very good products because they would have distracted me from my goals. I don’t want to sacrifice business growth for some distracting product, no matter how good.
3. Whenever I purchase a product, I must put it into practice the day that I get it.
I don’t care how many DVDs or CDs there are, I must learn something within an hour or two and put it to use.
When I purchased Jeff Walker’s Product Launch Formula I applied it CD by CD. I would watch a CD, and then apply what I learned.
I actually had my very first product launch 30 days after I received the course, and made over $90,000 in 7 days!
I was still learning from the CDs as I went through the product launch.
If I don’t take action right away, then the product is a waste and I most likely will return it so that it won’t distract me any more.
By following this simple philosophy of only purchasing what will not distract me, and then applying it right away, I have been able to push my business forward with little distraction (despite the thousands of emails that I get every day) in the year 2006, and will push it even further in 2007.
Matthew Glanfield
P.S. Have you adopted any philosophies when it comes to purchasing products? Have you found that you suffer from “information-overload?” Let me know by posting your comments here.
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16 comments to “When you shouldn’t buy another product…”
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Scott Tousignant Says:
Matthew this is golden information. I’ve gone through the exact same problems and now take a very similar strategy as you have laid out.
With so many products being launched weekly and each of them promising the moon to us and a new way to earn money, we can easily get caught up just chasing our dreams and never catching them because before we get there the next dream presents itself.
Set a goal…complete it… and move on to the next one.
I’m sure there will be products that come along which will help you achieve the goal that you set and you should carefully consider those.
I remember when I was getting ready to launch my products and I wanted to put video up on my site. Next thing you know I got an email for FLV producer. It was exactly what I needed and helped me accomplish my goal.
I can’t tell you how many other products and opportunities presented themselves during that time that seemed really good, but all of them would have distracted me from what I was trying to achieve.
Thanks Matthew. Your blog has been a great resource. Keep up the great work and I wish you continued success throughout 2007.
Scott
Jeanette Cates Says:
Excellent post, Matthew! You have done a picture-perfect job of illustrating that with your rapid rise to success online. We all have a LOT to learn from you!
I shared my own 5 questions to ask on “Should I Buy This Product” in my blog a few months ago. I’ve linked the post to my name, since it’s such a long link.
Hope that will be helpful to your readers, too!
Jeanette
Fred Mason Says:
This is so true, and for the last year has been my problem - too much info., not enough time to even read it, totally unable to put any into practice. This philosophy falls in line with my latest decisions. Sadly some of those “e-courses” are going.
Many thanks for the inspirations….
Fred
Michael Valiant Says:
Great post Matthew.
I can’t agree more (You don’t want to know how many products I have purchased and, having never more than browsed them, sit on a shelf in my office)
I wrote a New Years post in my blog (http://www.1shoppingcart.com/ecommerce-blog/index.php/ecommerce/mr) that says basically the same thing.
Have a plan, and don’t get distracted with the 1001 products that may help you, but are more likely to bog you down in inactivity.
Thanks,
Michael Valiant
http://blog.1ShoppingCart.com
Caleb Says:
This must have been posted just for me because it seems like I can’t refuse an email from the latest guru.
But you’re right…there will always be good products to promote.
Currently,I’m trying to tighten my focus for the year. I’ll comment back a few days from now…perhaps I’ll have a revelation of sort.
Jim Says:
Matthew,
You’ve hit the nail on the head. I began last year with internet marketing. Toward the end of the year, I decided to delete opportunities that were distracting. Instead, I have a few guides that I bought that I will put into practice in 2007. I work full time, so it’s difficult to get the extra time to work on the internet, but I’m going to try to commit some time each day to get it done.
Thanks for your inspiration.
Dennis Says:
Hi Matthew,
What you say here has merit. I have been living this reality. I have purchased your products and started towards building a list to sell my products and find my self distracted by the flood of offers of other products that come in daily.
This year distraction are not going to be the case, for I have set a goal. I already have the products that can get me there + I have a new product that will be released within the next few months.
I have decided that “if the product does not work in conjunction with my product” then I will pass on any purchase. Sadly to say most of the products being released fall into that category.
Your product has merit and does fit my product and all products for that matter. My product will be simular in nature of fit to all products but is perhaps a preliminary to your and all products.
Wishing all a successfull 2007
Ed Rushlow Says:
Thanks for this good info. Now that I know how you big shooters manage to “get there” I might have a chance. I’ve been going nuts wasting a lot of time trying to learn all the ropes and still haven’t made any money. Thanks again! Now I have to go to work.
Tom Says:
Matthew,
Good stuff man! I really like your approach to having one goal in mind and phasing out products that don’t fit into the bigger picture. I have started to do this in the last few months and the amount of products I have bought have been very, very few.
Even better is your take on putting a product into action as soon as you get it. This is a great tip that I need to do a better job of.
Thanks for all the great info
Tom G
http://www.thefatlosszone.com
Alma Says:
Great info!
I wasted one year just trying to find something that would make me money such as building my own website, joining affiliates, purchasing ebooks, manuals, teleseminars, you name it with no results and still not sure what to pursue. I’m overloaded with information. I need to focus and implement what I learned.
Yujin Says:
I used to visit and read lot of sites and forums. Have lot of project ideas written in files, 99% of them are in file for years now. May be in this year i will able to start doing some of them.
Jan Says:
Matthew,
You are sooo right. I have been trying to learn everything when what I needed most was implementing what I had learnt at the time I learnt it.
Keep up the good work and thanks for everything. “Yer bloods worth bottling mate!”
Jan
Bob the Teacher Says:
Matthew,
The trouble you are pointing to also shows a lack of faith that a person has in their own vision, or a lack of clarity of their vision in the first place.
I don’t know of anyone who hasn’t suffered from this, and certainly I include myself in this picture.
It seems a major difference between success and delayed success is that focus. When I focus, I grow. When I let things distract me, I stall out.
Thanks for pinpointing this and elucidating your thoughts so clearly.
Bob Jenkins
Teachers In Business
Indy_AL Says:
Yes the information is spot on. Focus and get only what moves you forward makes sense.
I guess I have another way of thinking about this issue. There are quite a few things I’d like to get, but everything costs money and everything costs time.
If you don’t have the extra time to put it into use and the extra cash to pay for it, focus on what will get you there…
Focus, Focus and fail forward.
- AL
chieko Says:
Yes!! I,m in informetion overload.
So, I,m so cofusing light now. I can,t diside which program I should buy(start).
Ade Lamidi Says:
Thanks for such useful information Matt. I sort of put a stop to buying new products at the end of last year as I just bought a lot of products that I never used. But with the first week of the new year gone, its tempting to buy yet another product that you feel you need. Its kinda psychological to be honest. But your benchmark for buying new products is spot on and I will learn to adapt it.
AL