I just went through How to Create Million Dollar Products as described in this issue. And what struck me is that only 4 out of the 120 case studies are still selling in meaningful quantity.
Yet each of the 116 other cases made their creators money.
So this is only 3% of the winners!
This should give you an idea of how difficult it is to create an evergreen product. From a hundred years, 4 of them are still producing revenue.
I believe that having a goal of creating an evergreen product is still something we should all aim for. It’s about thinking big, and wide. It’s about thinking how you can solve a universal problem. A timeless problem.
A solution that will last after you are no longer around.
So let’s remember the Million Dollar Product formula:
- An offer is part of the name
- There is a mechanism in the name that tells the customer how the result is going to be delivered.
- There is magic.
The more you work with the formula, the more you study the cases in How to Create Million Dollar Products, the easier it will be to design winners.
And maybe your track record will be better than that of the winners we have studied together.
Aiming for an evergreen, something that will last for 50 years has the effect of pulling your imagination, or maybe stretching it, further than you think you are capable of right now. But evergreens do exist. We have seen them in the forest. And new ones are quite likely pushing out of the ground right now.
For the record, the 4 products are: Think and Grow Rich, How to Win Friends and Influence People, The Satanic Bible and Hula-Hoop.