How To Create Your Own Product Or Service (Part 2)

Written by Willie Crawford


Inrepparttar first installment to this series, we looked at creating and marketing your own info product. I gave several concrete examples of info products I created with very little investment of time or money which sell with tremendous success. If you missed that article, it's posted online at: http://williecrawford.com/limitless22november02.html In this installment let's look at creating and marketing your own services.

When looking at marketing your own services you should thoroughly examine, brainstorm, and tear apart several critical issues. These issues are:

- What services are you qualified to offer - Will offering this service provide a good return on your investment of time and money - Is this service suitable for leveraging by offering through an affiliate program - Is there sufficient market for this service to offer a steady stream of customers long term - Can you develop a line of back-end products to increaserepparttar 106185 revenue stream from offering this service

Let's briefly look at these issues.

Most of us possess some unique talent that we can use to create a service and earn an income from sharing this talent with others. Talents that come to mind immediately are web design, graphic design, copywriting, programming, data entry, script writing or installation, legal research, website optimization, website promotion, diet counseling, fitness coaching, personal coaching and counseling, proofreading services, ghost writing services, and too many other possibilities to list here.

All of these services can be and are marketed successfully overrepparttar 106186 internet. Develop a reputation for delivering quality in any of these areas and you will get a steady stream of customers.

When looking at what service you might offer as your own "product" also consider services that allow you to leverage yourself more. To do this I generally think of services that can be provided semi-automatically and delivered in an almost endless quantity. The distinction between product and service may get a little blurred here but that's ok. What are "services" that might fall within this category:

- Pay for subscriber/lead services - Pay for website traffic/visitor services - Website submission or promotion services - Website monitoring services - Website translation services - Website hosting services (very competitive) - Remote script hosting services - Custom content provider services - Article writing or distribution services - List management services - Providing custom diet plans - Providing custom fitness plans - Personal financial management services

... you getrepparttar 106187 idea. Think of services that you can generate and provide withrepparttar 106188 aid of software so that you really do have an unlimited supply. Look at how you can improve on existing services or come up with totally new services. Realize that if you don't design your service properly you severely limit its growth potential andrepparttar 106189 potential to offer back-end or add-on products or services.

I recommend services where there is less competition due to difficulty in deliveringrepparttar 106190 service. Difficulty in product delivery as a barrier-to-entry is a good thing. It means it will be longer before someone encroaches on your market. This allows you to perhaps price differently at first and harvest "monopoly profits." Sorry - my economics training is slipping through :-)

Many services are so generic that it's difficult to distinguish your service inrepparttar 106191 mind of your potential customers. This makes your service a commodity and many customers will buy largely based on price. Web hosting is a commodity service that immediately comes to mind. To many customers, one web host is justrepparttar 106192 same as all others. If you can distinguish your generic product inrepparttar 106193 mind of your potential customer by becoming known for superior quality or customer service then you no longer offer a commodity. However, that takes a lot of very hard work and time. If you can offer a service FIRST or where there are fewer competitors then your task is easier.

When thinking of your service (or product) think in terms of income stream. If you are forced to constantly search for new customers so that you can make a one-time sale, you severely limit your growth potential. If your system brings in customers who use your services over and over again, then you build in repeat business and a revenue "stream." Lead generation and traffic generation services are examples that come to mind. If you deliver quality traffic or leads then your customers will buy from you again and again.

How To Create Your Own Product Or Service (Part 1)

Written by Willie Crawford


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 inrepparttar long-run. With a service, your growth is limited byrepparttar 106184 supply ofrepparttar 106185 service you can provide. Providing many services is too labor-intensive or too limited by "the system" to allow unlimited growth.

The easiest product inrepparttar 106186 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 userepparttar 106187 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 watchrepparttar 106188 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 isrepparttar 106189 easiest thing inrepparttar 106190 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 forrepparttar 106191 longest time. You've all heardrepparttar 106192 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 BECOMErepparttar 106193 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 surerepparttar 106194 demand would be there. However, once I committed to writingrepparttar 106195 cookbookrepparttar 106196 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 onrepparttar 106197 face ofrepparttar 106198 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 torepparttar 106199 tele-seminar. This generated 3 products really. (1) The tele-seminars themselves, (2)repparttar 106200 reprint rights torepparttar 106201 tele-seminars and transcripts, (3)repparttar 106202 recordings ofrepparttar 106203 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 torepparttar 106204 full audio and video recordings ofrepparttar 106205 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.

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