I made a big mistake when I developed my own product to help people to automatically make a Facebook fan page, at the time Facebook had their own code called FBML and not many people could use it, I sourced a great developer and asked him if we could make a platform that allowed people to enter their HTML and it would be automatically converted into FBML for the customer to simply drop into the Facebook fan page platform, it was an ingenious plan, the developer could do it and we were going to make a fortune. We went into a lengthy development stage, got the buzz going, people were interested and it was going to help businesses all over the world. We launched, orders started coming in, then bang, the whole business destroyed in a week. You see, we had identified a problem, we had done our homework but it never occurred to us that Facebook would suddenly change their code from FBML to HTML iFrames. That opened the door for everyone to jump into our space, and boy did they come with the added problem of people developing totally free tools to do the same thing.
The point is, if you decide to make your own product, make sure that it is not something that totally relies on someone else’s platform because if you do, you will be forever on the edge of your seat wishing that they don’t change things around, a great example of this is all the people who have made products in the Facebook fan page arena since I came out, Facebook are about to change once again and move over to the Facebook timeline, if someone has been selling training courses for example, will their customers want a refund? And how about all the developers who have made apps for Facebook over the last year, will they still work? Food for thought, but owning your own product is still the way to make the highest profit online.