Create information base products.
As information became the hottest commodity online, information base products like ebooks, online tutorials, CD series, teleseminar programs etc.
are selling like hotcakes online.
So, if you are an expert on your chosen niche or you possess a specialized knowledge that online users will be happy to know about, don't let this amazing money-making opportunity pass you by.
These kinds of products are hassle-free to create and you don't need initial investment to get started.
Solve a problem.
Keep yourself abreast with the pressing issues being faced by your potential clients by constantly communicating with them through forums, discussion boards, or through your website.
Then, create products that can address these issues so you can help your customer base while generating profits for yourself at the same time.
For instance, if your potential clients are constantly complaining about their vacuum cleaners and they are looking for something that will work better, create a new vacuum cleaner that contains all the features that these people are looking for.
Bank on your skills and expertise.
When creating new products, it is always a smart idea to consider the things that you do best.
For instance, if you are a professional basketball player, you can offer lessons for beginners or create information products that contain all your trade secrets and other valuable tips and techniques.
As you are an expert on your chosen field, people will surely buy your products as they know that they will get their money's worth.
Instead of copying somebody else's product ideas, strive to be unique and be known for it.
Offer your customers with something fresh by thinking out of the box and by doing experiments and researches that can help you discover new great product ideas.
Test your products.
Don't make your creations available in the market unless you are assured that they are working as designed.
Form your own quality control group who can test your products.
These people must be able to give you sound recommendations on how you can improve on your products so you can make them more valuable to the eyes of your customers when you launch them in the market.