‘Fail fast’ is an adage in business that more people should know.
It is applicable to a wide variety of different business models and that’s particularly true when it comes to selling affiliate products.
Read on to learn more about what it means and how you can make it work for you.
What is ‘Fail Fast’?
Fail fast essentially means that you should aim to succeed or fail quickly.
Whereas our initial instinct is to do everything we can do to succeed in business, this can sometimes lead to us investing too much time, effort and money into a single idea. In other words, you end up spending months on your landing page, on choosing your product, on priming your mailing list and on creating the perfect storm in which to sell.
So if that product then falls flat on its face, it’s going to leave you badly out of pocket and badly disheartened regarding your efforts.
Failing fast on the other hand means selling an MVP – or a minimally viable product – so you can very quickly get a feel for the market and whether or not there’s an audience for your product.
When selling affiliate products, the good news is that you don’t have to make anything. As you’re selling a product that already exists, you can in theory start profiting very quickly – in other words, it lends itself perfectly to the ‘fail fast mentality’.
But you can fail faster…
How to Test the Market Quickly
One way to do this is by streamlining the process of creating landing pages and setting up advertising campaigns. Likewise, you can look for affiliate products that provide the sales script for you and other raw materials. This way, you can very quickly start adding new items to your roster.
Better yet, you can start each new product you want to sell with a PPC advertising campaign. That way, you can see which items get a good response and only invest in making a good landing page for those that make a lot of sales for you.
In theory, there’s nothing to stop you from selling 100 affiliate products at a time. So keep this in mind and remember the 80/20 law – that 80% of your yields will come from 20% of your products. The trick is to act fast so that you can find those potent 20% without wasting your time or money.