Shortly after I REALLY started listening to advice on how to make lots of money on-line I heard one message loud and clear. "You need to develop your own products or services!" Like most people who hear this message, I agreed intuitively, but it took a long time to figure out HOW to do that. Let's shorten that learning curve for you by telling you HOW to develop you own products or services.In part 1 of this article we'll look at how to develop your own product because I know that is usually more profitable in
long-run. With a service, your growth is limited by
supply of
service you can provide. Providing many services is too labor-intensive or too limited by "the system" to allow unlimited growth.
The easiest product in
world to develop is an information product. It's so easy that I personally know more people than I can count who have earned millions doing it. They develop information products that you produce once - and then they sell them forever, with very little additional work required after their creation.
What do we mean by information products? I use
term to describe books, ebooks, video and audio tapes, transcripts, CDs, digital audio files, and even software. With all of these products, you write them once, produce them once, and then sell them forever with very little per unit cost. You can breath life back into them when they start fading by updating them or issuing a new release.
With these information products, you create them, set up a website, organize a marketing campaign, and then - literally - sit back and watch
money flow in. If you set up your own affiliate program to market these information products you have thousands of people all working diligently to make you a success. Creating an information product really is
easiest thing in
world.
I know what you're thinking. You're thinking, I don't know enough about any topic to write my own product. I thought that too for
longest time. You've all heard
advice, write about what you know. If you really don't believe that you know enough about a topic to produce an information product, then identify a topic that you would like to know more about, and BECOME
expert on that product. Unless there are already too many experts on that topic, or unless absolutely nobody cares about that topic, you have a guaranteed winner.
To convince you that what I teach is true, let me share a few examples from my own background:
With prompting from my website visitors, I wrote a cookbook. I wasn't sure
demand would be there. However, once I committed to writing
cookbook
project went very quickly. This cookbook sold over $100,000 worth of copies (in hardcopy and digital format combined) in it's first year.
I wrote an book explaining how to publish your own cookbook. This book is available in ebook format and since so many people have considered writing their own cookbook, this is a natural bestseller.
I'm finishing up a book on how to generate massive traffic to your website. Why did I choose that topic? The single biggest problem facing every webmaster on
face of
earth is getting enough visitors to his site. I researched, brainstormed, and experimented with virtually every traffic generation method I could find. The results is a book that HAS TO SELL. The affiliate program for this product has to succeed. The pent-up demand for a quality product on this topic is that tremendous!
I turned my personal experience with pay-per-click search engines into both an ebook and a tele-seminar. I hold tele-seminars on how to create a can't fail pay-per-click campaign. The tele-seminar is recorded and participants get reprint rights to
tele-seminar. This generated 3 products really. (1) The tele-seminars themselves, (2)
reprint rights to
tele-seminars and transcripts, (3)
recordings of
tele-seminar which I can market as a separate product or use as a bonus with other products.
I recently spoke at an internet marketing seminar where I got reprint rights to
full audio and video recordings of
seminar. This is a product that easily sells for $300 and I can now market this forever. I market these seminar tapes directly and through an affiliate program.