InABoxInfoProducts.com

Making Money With Information Products

2005-08-17T12:36:00.000-07:00

Robert Lawson does an excellent job of giving you PERFECT examples on how to use information products to make money. This is a perfect way to start your own business.

Making Money With Information Products

By Robert Rawson

I actually know a few people who are making millions a year through home-based operations (and a few others who have been able to subsidize their incomes from low risk business ideas). In most cases, all it took was some good market research and the get up and go to actually put the information product together.

Believe it or not, the biggest obstacle to overcome when putting together an ebook or DVD product is actually having the motivation to get started - it’s not as hard as it sounds!

The most common, and usually the most successful information products are e-books, audio cd / tapes and increasingly, DVD’s. We’ll take a look at each of these categories in more detail below

Writing a successful ebook

You really have 2 options here. You can develop the content of the e-book yourself, or you can get someone to do it for you. There’s a few other ways you can go about creating an e-book, for instance, obtaining the rights to an out of print book, but these methods and considerably more complex and don’t offer any guarantees.

If you’re a semi-confident writer, my advice would be to try and write the book yourself. A good way to start is to write about something that you are interested in – spend 15 minutes a day putting down your ideas, if you find you are struggling, do your best to outline your ideas and then investigate the possibility of hiring a writer to research and draft the remainder of your ebook.

There are loads of good writers around who will put together polished and concise copy for around 10 cents per word. Take a look at http://www.profitpuppy.com/freelance-sites.htm for more information about finding a freelance writer

Some writers expect up to $175 US an hour for their services, although thanks to the internet, it’s not impossible to find a reasonably talented scribe for around 10 cents per word. It’s important that you are clear in what you want to achieve when advertising a project so that you attract someone who is well suited. If you don’t have any luck with Elance or Freelance Writers, you could also try posting to Yahoo Groups or approaching people at your local uni.

It’s important to remember that your reader probably won’t be too concerned about your command of the English language - just make sure you clearly explain your concepts and ideas (especially if you are writing a “how-to” style ebook). For more information about writing and marketing e-books, visit http://www.profitpuppy.com/writing-and-selling-ebooks.htm where you will find a number of valuable resources

Audio CD’s and Tapes

If you don’t fancy yourself as a writer whatsoever, another option you have is to create and audio tape or CD. It’s not as expensive as you might think, and audio products still have great appeal for buyers

While DVD’s and Videos have become easier to create, tapes and CD’s are still the mainstay of the information product world. The reason of this is that media savvy buyers aren’t enticed by the often amateurish production qualities of video or DVD info products. Another advantage of tapes and CD’s is that you can listen to them anywhere, for example in your car on the way to work

To produce a CD or Tape of reasonable quality, you are going to need to purchase (or hire) the necessary equipment. If you can afford to buy some studio time, it’s worthwhile, but if you just starting out, it’s an undue expense that you can avoid. Your local electronics store should be able to arm you with a noise reducing microphone and some high quality audio tapes (another option is to record to your computer first). You can expect to pay around $50 - $80 all up. You don’t need expensive equipment to get started, although you may have to upgrade if as you go along

Assuming that you’ve researched your topic (and target market properly), you can begin working on your information product which should give some step-by-step advice on how to overcome a particular problem or achieve a particular goal (there’s more about picking your topic below). Just remember that when you start recording you deliver the essence of your experience (or research) in an entertaining and concise way. If you are producing an instructional CD or tape, a simplified and bare bones approach is often best. Come up with steps that will help your customers achieve their desired goal/s.

When you’re ready to go, shut off the phones and start recording (it’s also a good idea to have a script in front of you). Record your tape in less than 60 minutes. Play it to your friends, make any changes you think might be worthwhile based on their advice. When you’re happy with the final product, create some duplicates (or get someone to do it for you) and then start selling your product on the Internet – It’s that easy!

If you think your idea is an exceptional one, or something that could work better visually, then you might consider producing your own DVD of Special Interest Video (SIV’s). This type of information product (often referred to as Guerilla Video) is becoming more popular as the required production technology becomes more accessible. Anyone with a DVC, a computer and some editing software can now make fairly professional looking DVD’s.

DVD’s like tapes and CD’s are also more valuable in terms of what your customer might pay for them; although they are more expensive to produce, people are more likely to pay extra money to watch a DVD (especially if it can show them how to do something instead of having to listen or read about it). For example, showing someone how to dance or swing a golf club would be much more valuable then telling them how to do it.

Remember that the ‘if you can’t do it, get someone else to’ principle applies for DVD’s and audio information products as well. It will cost you a little extra, but will usually be worth it in the long run

Regardless of your current level of video expertise, if you have the basic equipment, you can produce your own SIV. The first time around, you should consult with a sound and lighting technician and hire a video editor who can help you assemble your masterpiece.

Picking a topic and selling it

I probably should have covered this at the beginning? Anyway, by now you’ve probably got 3-4 ideas for your own e-book? If not, you’d better get brainstorming!

Have you ever trained an animal? There’s a product right there. Do you have a fantastic way to save money? There’s another product. Do you know how to build anything? That’s definitely a product. There’s potential for information products all around you. The most important thing is that you research you target market properly and find out what they are interested in. A great way to do this is to post a short online questionnaire which you can advertise through pay per click Google Adwords. You could offer to give away a free copy of your product to anyone who helps you out with your market research

Before marketing your product, decide how much it’s worth: as a rough guide, you can sell an audio tape for at least $10 - $30 or a series of tapes for a lot more (depending on the subject) and you should be able to double that price for a CD or DVD product. At the end of the day you really have to test your price -you need to understand how much the market values your information. If your product can help other people earn money, you should be able to sell it for $97 per unit or more. If you’re trying to market a dog grooming manual you may find it more difficult to generate good returns – you must pick your topic carefully.
Some killer website copy, targeted ads and packaging can all help add value to your product. You will also need a merchant account so you can accept payment for your information product.

Visit http://www.profitpuppy.com/accepting-payment.htm to learn more about merchant accounts.

E-books, tapes and SIV information Products can be the ideal business to start - they are easy to produce, simple to ship, and enjoy high returns because people aren’t paying for the physical form the product is delivered in. Remember, that after you’ve completed your product, you’ll be making nearly 100% profit (that’s if people are interested enough to buy it). For example, if you produced just 1 DVD and can sell 500 copies at $50 a piece, you stand to make $25,000

Regards, Rob Rawson

Robert Rawson

AKA: http://www.profitpuppy.com/

I hope you enjoyed todays article! Feel free to leave your comments below!

Liz Tomey
http://www.inaboxinfoproducts.com

Is your information product idea profitable?

2005-08-13T23:21:00.000-07:00

If you want to start your own business, you wont find a better business to start than an information product business. You don't have to worry about stocking any products, or investing the large amounts of money it takes even get started in a regular business.

The first thing you want to do if you start your own business in the information product market, is to make sure that your information product will make you money. You have to know before you invest time and money to start your own business that the product you will be selling will make you a profit. This is very easy to do especially in the information product business.

Below is an article I read from Tim Knox that I think will help you! If you have any questions you can either email me or post a comment by clicking on the comment link below...

How To Tell If Your Amazing New Product Idea Is Really Worth Gambling On
By Tim Knox

Q: I have a great idea for an amazing new product. There is nothing like it on the market and no competition that I can find. I think it will be a huge success and so does everyone I tell the idea to. I'm willing to bet the farm on this one. What do you think my chances of success are?

A: I'm a lousy poker player, mainly because I can't help grinning like the village idiot when blessed with a winning hand or frowning like a sad clown when dealt a dud.

I also never make odds on the success of "amazing new products" because more often than not the only thing that's amazing is the way the product is totally ignored by the buying public. In my software business there have been times when we came up with what we thought was an amazing idea for an amazing piece of software - a piece of software so amazing, in fact, that we knew that all mankind would sit up and take notice, then line up to write us checks.

After hundreds of hours and thousands of dollars spent developing the product we were amazed to find that the only people who thought the software was truly amazing was us.

We made mankind yawn. Quite an amazing accomplishment, if I do say so myself.

It worries me that you say there is nothing like your idea on the market. While you may think that is a good thing, it might actually mean that there is no market for your product. The same holds true for a lack of competition. A total lack of competition might mean that there is no demand for such a product.

Rarely does a product come along that revolutionizes an industry. Rarer still does a product create a new industry on its own. So, how can you tell if your amazing new product really is worth gambling on? The truth is, you can never be 100% certain that your idea will sell. No matter how enamored you are of it or how much your friends rave about it, the success of a new idea depends on a number of factors, many of which are beyond your control.

Such factors include:

· The viability of the idea: is this really a product that you could build a company around? Does the idea have the potential to generate revenue or customer loyalty?

· The people implementing the idea: the right team can make even a mediocre product a huge success (ever heard of Windows). Inversely, a bad team couldn't sell ice water in Hades. Pick your team carefully. The right people really do make all the difference.

· The demand for such a product in the marketplace: will this product fill a need or satisfy an itch?

· The competition: is the market already crowded with competitors? If so, what will it take to move your product ahead of the pack?

· The depth of your pockets: even an amazing product requires a ton of cash to go from drawing board to store shelf.

· The availability of other resources required to take the product from the drawing board to the consumer: do you have the time, the drive, the perseverance, the knowledge, the contacts, the support, and a hundred other things required to bring your amazing idea to fruition?

· The list wouldn't be complete without sheer luck and timing.

· And a thousand other things.

Before you invest too much time and money into your idea, do a little research to determine if it's an idea that's really worth gambling on:

· Research the market for similar products. Again, if there are no similar products on the market that might mean there is no market for that product. If there truly is nothing exactly like your product, research similar products that fill a similar void in the consumer's life. Learn all you can about such products: pricing, market share, track record, etc.

· Research the competition. As mentioned earlier, if there is no competition there may not be a market for a product like yours. If there is competition, research the competition fully (little guys and big guys) to help determine if you can realistically compete for market share.

· Identify your target customer and ask them for an honest evaluation of the idea and its marketability. Avoid friends and family as they usually just tell you what you want to hear. If your target customer is a 35 year old female, pitch your idea to every 35 year old female you meet and gauge their response. Just don't break any stalking laws in the name of market research… :o).

The best advice I can give you when it comes to amazing new product ideas it's best to follow your head and not your heart. It's a lesson that took me years to learn. If I had a nickel for every amazing new product I've invested in I'd go play a few hands of poker.

Here's to your success!

Tim Knox

Small Business Q&A is written by veteran entrepreneur and syndicated columnist, Tim Knox. Tim serves as the president and CEO of three successful technology companies and is the founder of DropshipWholesale.net, an online organization dedicated to the success of online and eBay entrepreneurs.

That's all for today! I hope you learned a little something from this article!

Liz Tomey
http://www.inaboxinfoproducts.com

InABoxInfoProducts.com Is LIVE!!

2005-08-13T21:40:00.000-07:00

Hey all!

I just got http://www.InABoxInfoProducts.com up and running. This site will be growing at a rapid pace and I will use this blog to keep you up to date.

If you are looking to start your own information product business, this is the site to start learning from. I will have tons of resources along with a newsletter helping those who are wanting to start their own information product business.

Stay tuned, and if you have questions along the way or need topics covered on starting your own information product business, please contact me and let me know!

Liz Tomey
http://www.InABoxInfoProducts.com