If you want to make big money on
web, you need to have your own product. A lot of people would like to have their own product, but they lack either, expertise and/or have no idea how or where to begin.Before you even think about creating a product, you need to research and make sure there is a market. You need to identify your market and find out exactly what they want for a product.
When it comes time to decide on a product to develop, you need to realize that niche your researching is something that people want and not need. People are more apt to purchase something they want over something they need.
Why?
People on web are impulsive shoppers, they make decisions based on emotions. When they see something they want, they buy it based on their impulse and desire to have it. Any purchase based on emotions is an impulse purchase and emotion is what sells!
Develop The Product Yourself
Today, two hottest and outrageously profitable products on web are, software and informational products, such as ebooks. If you want to build a solid reputation on web, then having your own product is best way to go. When most people develop their own product, they tend to favor an ebook over software.
Why?
A couple of reasons, one is, ebooks are a lot easier to develop, then software. Another reason why ebooks are so popular is, because they cost next to nothing to start up and maintain. The profit margin of an ebook is extremely high, compared to software, anywhere up to 95% is profit.
On other hand, with software your profit margin is not nearly as high as an ebook. Unless you know how to develop your own software, developing costs will be at a minimal. You probably don't know how to develop software, so chances of having to hire a software developer is high, and can be very costly too.
Moreover, it takes time to write and publish your own ebook. You need to write, go through lengthy editing process, and publish it. I am not trying to discourage you, it takes time and dedication to write your own ebook. When it's all said and done, end result is well worth it, because your are gaining name recognition.
If you can't write, or don't have expertise to develop your own product, no problem. I will give you a few other alternative solutions to help you on your way to developing your product.
