Are you considering starting an online business?
This is what Gary Ryan Blair of 100 Day Challenge says:
The cure for money problems is to make…MORE MONEY.
The way to make more money is to add… MORE VALUE.
The easiest way to do that, without becoming a doctor
or an accountant, is to…CREATE your own business.
The FASTEST way to do that is to create your own online
business where you…SELL INFORMATION PRODUCTS.
IT’S THAT SIMPLE.
There literally is no better way in the world to cure your
money problems then by having your own website
based business that operates like a 24/7 ATM machine.
Pretty simple, right? But how do you do it? Well, you can sell other people’s information products. All you need for this is an affiliate marketing account with Clickbank or other affiliate marketing hubs online. Or, you can create your own information products. Let’s go a little deeper with that.
Whether you’re an affiliate marketer or creating your own products, the place to start is choosing your niche. The niche you choose needs to be a profitable one, otherwise your business will be a 24/7 cash extruder, pumping out your hard-earned money with no money coming back.
So, let’s find a profitable niche. If you’re stumped on this step, think about your interests and see if any of your interests is in a profitable niche. This is easy to do – plug your interest into a search engine and see how many links there are. That will give you a good idea whether or not you’ve found a profitable niche.
Health, wealth, and relationships provide all kinds of good niches. Health and fitness, personal finance, creating a business, personal development, relationships, and dating are all profitable niches. So, what’s your niche? How will you monetize your passion?
Why Create and Sell Information Products?
The reasons for creating and selling information products are pretty simple. First, they’re an easy way to leverage and monetize your experience and expertise. They’re not hard to create and they’re not difficult to promote. You can sell these products on autopilot 24/7. Since they’re digital products, you don’t have storage costs, shipping costs, or any of the problems related to physical products. They’re also easy to revise so that you can keep improving what you’ve created.
Creating Information Products
What can information product can you create and sell? The easiest way to explain this is to solve a vexing problem with your product and then tell people about your new product. Information products generally teach others how to do something that you know how to do. Dr. Steven Covey, author of The 7 Habits of Highly Effective People says, “Start with the end in mind.”
What is it that you want to create? How can you use your knowledge to help others? Be as clear as you can on what you want to produce. Offer both quality content and value in your information product in a profitable niche and you’re on your way. Here’s a great infographic from byregina on this:
What’s the easiest way to move into product creation? Rewrite PLR products and create an ebook in pdf format. Find a public label rights product in your niche and put it into your own words. If you don’t feel capable of creating a product from scratch, this is an easy route for you. You can create books, workbooks, guides, and a host of other products from PLR resources.
Next easiest is creating an audio product. You can do this from a PLR resource or on your own. You can do this in Windows with the Voice Recorder app, if that’s your computer operating system. Just type Voice Recorder in the “Type here to search” box in the bottom left of your screen.
Next, is creating a video product. For this, you can produce a powerpoint presentation, and record a voice-over for it. Windows has a free video editing software called Movie Maker. Videopad works for Windows and Mac. Openshot works for Windows, Mac, and Linux. I used the free version of Screencast-O-Matic before I purchased Camtasia Studio.
You can record a webinar, teleseminar, or workshop. For example, you can do a seminar and film it. You can do a screen capture of you doing something on your computer to teach others how to do it. There are many ways to use video to create an information product.
Create a subscription service that provides you with monthly income. This can be a mastermind group, a coaching service, a group coaching service, or a membership website.
One easy way to create an information product is interviewing experts in your niche. The hard part is getting them to agree to do it, so send out LOTS of requests to many different influencers in your niche.
Send them a short email that explains who you are, what you want to interview them about, and how you will use the interview. Give them links to your work so that they can see for themselves who they’re dealing with. Set up the interview with those who respond to your request. You can do your interview over Skype or a phone call. Create your questions, do the interview, create a copy of the interview, and you’re in the game. Send your interviewed expert a copy of the completed interview and ask them to promote it, and, of course, you promote it as well.
Advertising and Marketing genius Dan Kennedy says, “Spend 10% of time on product creation and 90% of time on marketing the product” Once you’ve got your product, the rest of your work is selling it. Find the right market for your product, then let them know how you are going to solve their problem, alleviate their frustrations, and put them on the right path, whatever that is for them. Start putting together your promotional presentations with my free headlines guide – headlines are what get people to read what you have to say about your product.
Use sales pages, email marketing, content marketing, your blog, solo ads, social media (free and paid) – there are many ways to promote your product(s). Consider the 3 M’s of Advertising.
First, identify the ideal market for your product. Is it middle class housewives in England, or male auto mechanics in Canada? Maybe your ideal customer is a teenage girl in Brazil. Whoever your ideal customer is, once you know who they are, your next task is finding out the best places to market to them.
Second, what is your message? What can you say about your product that would show how it will benefit your target audience?
Third, how will you deliver your message to your market? It may be through sales pages, email marketing, content marketing, your blog, solo ads, social media (free and paid). Remember Dan Kennedy’s word, “Spend 10% of time on product creation and 90% of time on marketing the product.” Once you’ve created your product, then the real work begins of getting your product in front of interested prospects.
What would you add to this? I invite your comments and questions, and your likes and shares.