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Have you developed your own product or service yet? There is little doubt that developing your own product or service is one of the most effective ways to make money in internet marketing today. Unfortunately many marketers haven’t grown to understand just how important product creation can be to their success. They have decided to selection other strategies like affiliate marketing or providing services such as ghostwriting for others. Product creation is a better way. There is no doubt that product creation can be a gamble. Yet the rewards can be tremendous, especially when steps are taken to minimize the risks. The tactics that follow can result in the development of winning products.Creating any type of profitable product or service starts with a great idea. Begin by thoroughly searching for that idea. Blogs, forums, websites, online auctions, private label rights products, eBusiness sites, and competitor sites are all great places to start your search for just the right idea. The goal is to understand the pressing ideas, issues and questions that are being discussed most. Be sure that your target clients are the ones visiting. Focus on the most pressing topics that seem to continually be coming up.Once you have what seems to be a great idea it is time to move on and investigate the market potential of that idea. Don’t invest time or money further developing your idea until you are positive your internet marketing efforts will be rewarded. Make sure there are ready and willing customers who are able to invest in your product. You can have the best idea in the world, but if there are not volumes of prospective buyers waiting with money in-hand, making a large profit will be difficult.One of the big questions that you must answer is whether to create a digital product or a physical product. There are factors that must be considered to make the final decision. For example, what are the needs of your customer group? Your own resources come into play in the decision as well. If you prospective customers are having difficulty locating a dishwasher to meet their requirements, you could design and develop a dishwasher that meets those requirements. You could also decide to create an eBook focused on helping these prospective customers to find the best dishwasher available. The information in your eBook could include tips, product reviews, new innovations, and even insider information that would be of help.No matter what the product, it is important to give it a trial run. You can hire testers, utilize testing labs, or even assign the testing to family and friends. Just make sure your testers are unbiased and will give reliable feedback. Your goal is to ensure your product creation will meet the promises and claims you make. It is also to ensure that it contains the features and benefits that your prospective customers seek.Product creation involves many steps. If you have the finances, outsourcing is a good option to help handle any or all of the tasks involved. If you choose to create an eBook for example, there are many experienced expert ghostwriters who are eager to write for you. Always check credentials and verify references before making a final decision on the right resource.To your internet marketing success!