Something which I regularly do is "spin a product". By "spinning", I mean taking a pre-existing product that I have created and slightly change it to suit another target market.

A good example is a bunch of website templates. It is simple to take a template and create 1 version for a particular site builder, then recreate the same template for another site builder. I do this all the time.

Another example would be an eBook - it is simple to take a generic "self improvement" eBook, add a few niche examples and rebrand it into "self improvement for {fishermen}{horse riders}{gymnasts}" - I'm sure you get the drift.

Whenever I create a product, I always try to use it at least twice. Sometimes it simply isn't possible, but most times it is quite easy.

A typical example is the "templating smarticle" and "templating 19pages" eBooks that I recently came out with. They are basically the same product, each of which has specifics for the relevant product that they are based on. I even used the same eBox Cover, though I will probably make a new one for 19templates when I get 30 minutes spare time

And now it's time for another "spin"…

Over the past few days I've had thoughts about another of my products - I sat down and spent some time weighing up the advantages and disadvantages of rejigging the product, the rebranding it and releasing it to a whole new audience. I believe that there is a target market for the product and that it could do very well.

I've contacted my programmer and asked him to quote me for the necessary changes to the existing product. There are quite a lot of changes so I am expecting it to cost a fair(ish) amount.

Once the changes are complete, it is up to me to then market the new product appropriately. I already am weighing up my options for this.

At this moment I don't want to divulge too much information as I believe that I have spotted a large gap in the market and I want my (new) product to be first in there. I promise I will update though, as and when.

Why you should spin products…

Of course, spinning an already existing product cuts down on development time. As you are the seller, you also should have an idea of the potential level of sales of your new product (based on the sales of the old). Spinning a product allows you to maximise your income, by taking the 1 product and potentially spinning it into 10 (or more) other products! Think about it