Information product creation

[Pete588]

My goal is to have an information product ready to sell by the end of the month (01:13am on 1st August as I write).

Is there a specific structure/procedure to deciding what to make the product about?

Cheers,

P

[carenkh]

I don't know what an information product is... pardon my ignorance... but it seems like it would be something you know about. What do you know about? What can you do?

[hotwired]

Hi
I just finished reading "7 day ebook" (not exact name, but if you type that in you'll find it) - I got it at amazon as softcover, easier to read. Joe Vitale is one of the authors and they show you how to conceptualize, write, edit and market the book in 7 days. Pretty exciting stuff, I'm finishing mine up now.

How to start a Lawn Care Business - The Simple, Effective, Profitable, Way

[Max Power]

Originally Posted by Pete588

My goal is to have an information product ready to sell by the end of the month (01:13am on 1st August as I write).

Is there a specific structure/procedure to deciding what to make the product about?

Cheers,

P

Find a hungry target market of people who have money (credit cards) in a niche that is interesting to you. Make sure they are already buying or using products in that niche and buying products in that niche similar to what you intend to sell.

The best markets are the one's that you are in yourself, because you know what it feels like to be a customer. What do you spend money on, what hobbies, problems do you have that you buy or need soultions for.

Max

[Pete588]

carenkh-I have no specialised knowledge in any area, at least not to the amount to make in information-based product with.

What I intend to do is a joint venture and I interview them, probably involving a teleseminar. Then package the audio as in info product.

hotwired-have you actually done it in seven days? That sounds cool.

[Pete588]

Topic bump.

Took a break from the project to learn about eBay.

Now I'm discovering ways to find a niche market.

Has anyone ever set up joint ventures before? If so, how long did it take you to do? How did you go about it?

I say this because based on my disoveries of finding about how to find niche markets (key word research etc) that these markets may not necessarily last long, and therefore I need to take advantage of the opportunity whilst it exists. Therefore, how long does it take to develop some kind of relationship with potential JV partners so there is still time to take advantage of the niche?

Thanks.

[DrMartinRussell]

Originally Posted by Pete588

My goal is to have an information product ready to sell by the end of the month (01:13am on 1st August as I write).

Is there a specific structure/procedure to deciding what to make the product about?

Cheers,

P

I know this is an old thread, but if others come across it this may be useful. Or if you have got stuck Pete. You haven't updated with where you are at.

This guy, James Brausch, has some good info that I recommend.

Internet Business 101 » Discover Your Passions… The First Step To Freedom

And then this
Internet Business 101 » 5 Minute Marketing Research

Note that he no longer suggests this as a good method. He now suggests going for bigger markets, but I'm still not sure about that if you aren't really serious. Anyway here is his recommendations...

Internet Business 101 » Answer Time
And scroll down to:- 7. Is there a new 5 minute marketing test?

If you want to know HOW to create an info product then he has a product for that called Earn An Income By Creating Your Own Downloadable Information Product... Vol 1 & 2.

However don't buy that. You can get the same thing for $50 currently at Information Product Creation and it's the both products in one, just online, not physical CD.

If you want a more complete version aimed at people who already have small businesses and want to get online info products as lead generation tools, then go to Ed Rivis':
Shrink Wrap Your Brain!

It's UK pounds, but still great stuff, more professional, and you will end up with a better quality product.

Here is the guy's blog if you want to know more about him:
Ed Rivis

[Pete588]

These are my intentions based on my research of developing info products. Sorry it looks a bit 'jotted' but I wanted to get across what I intend to do without writing an essay, plus it might not get read otherwise.

1. Find market

Read e-books on finding market niches-read a few, which may well have been a waste of time based on James Brausch's material
Practice on search engines-will do once understand the instructions fully

Comment about competition and promotion: presumably it's much more difficult to promote an information product to a large audience, especially with there being so much competition out there.


2. Ask the market what it wants to know

Set up a survery site
Visit forums on the topic

3. Set up a JV

E-Mail X no. of people in the field
Present them the ideas

4. Market a teleseminar

Need a list of people can advertise it to, maybe the JV partner can promote it to his list, or I promote it myself

5. Hold the teleseminar, record it

Need questions ready
Need equipment

6. Transcript the teleseminar in a PDF, use as marketing material


7. Find some other way of providing value, e.g. a presentation or through a video


8. Sell the recording, maybe some transcript for free

Transcript for free-providing a teaser etc
Apparently audio can be sold for a lot (not sure of market specifics on audio, I’ve just heard ‘good things’ about it, and am aware of the popularity of podcasts)
I'd like somewhere where I can get some market research data on how much audio sells for, as it would help me to set the price

9. Set up the website

Domain name, etc

10. Write the sales letter

Never done copywriting before, however a lot of effort will go into it and it can be updated

11. Attract traffic

Google ads, forums etc

At some point I also need to decide on the business model-e.g. do I want to make new products for the same products?

[DrMartinRussell]

Originally Posted by Pete588

Comment about competition and promotion: presumably it's much more difficult to promote an information product to a large audience, especially with there being so much competition out there.

If you aren't just a copy-cat of someone else's product and you bring extra value in the marketplace, then 'competitors' are potential affiliates for you, and you for them.

Also, plan your business model, eg your back-end and recurring sales, before you begin. If you are going to use PPC you will have to lose money on the front end, particularly if you aren't a copywriter.

Overall I suggest you pick ONE system, or one guru, or whatever and follow them. There are too many choices otherwise.

Personally I haven't looked around to find too many people. Ed Dale's 30 Day Challenge seems to have about a 1% success rate. James Brausch's stuff I'd guess is similar.

Jon Symons at artofmoney.org hasn't posted recently on his $100/month blogging efforts, but I'd guess with his Alexa ranking and side ventures he is on track.

woodymaxim.com - aka Keith Baxter - is more advanced stuff.

etc, etc, etc

My personal suggestion for your niche? If you can't blog about it, you can't create a business out of it ie you need a passion and either knowledge or the interest in getting more knowledge.

How about interviewing someone who has an e-book but no audio product? Then it can be sold as a special-offer discount (with 100% of profits to the interviewee) to the person's list, and you can begin that way? That will test your sales copy, and build your reputation, and you arrange to keep copyright of the audio and any future sales that aren't to their list. Just looking to simplify your plan.

[Pete588]

Originally Posted by DrMartinRussell

If you aren't just a copy-cat of someone else's product and you bring extra value in the marketplace, then 'competitors' are potential affiliates for you, and you for them.

Can you explain that to me please. I'm not disagreeing, I merely would like (more of) an explanation into it

Also, plan your business model, eg your back-end and recurring sales, before you begin. If you are going to use PPC you will have to lose money on the front end, particularly if you aren't a copywriter.

Overall I suggest you pick ONE system, or one guru, or whatever and follow them. There are too many choices otherwise.

Personally I haven't looked around to find too many people. Ed Dale's 30 Day Challenge seems to have about a 1% success rate. James Brausch's stuff I'd guess is similar.

Jon Symons at artofmoney.org hasn't posted recently on his $100/month blogging efforts, but I'd guess with his Alexa ranking and side ventures he is on track.

woodymaxim.com - aka Keith Baxter - is more advanced stuff.

etc, etc, etc

My personal suggestion for your niche? If you can't blog about it, you can't create a business out of it ie you need a passion and either knowledge or the interest in getting more knowledge.

How about interviewing someone who has an e-book but no audio product? Then it can be sold as a special-offer discount (with 100% of profits to the interviewee) to the person's list, and you can begin that way? That will test your sales copy, and build your reputation, and you arrange to keep copyright of the audio and any future sales that aren't to their list. Just looking to simplify your plan.

Excellent suggestion-thank you. I'll keep you updated!

[DrMartinRussell]

Can you explain that to me please. I'm not disagreeing, I merely would like (more of) an explanation into it.

Here's a bit of a further explanation...

The people who are most likely to buy your product are people who have already bought other people's products.

Someone else can be affiliate for you to create backend sales from their buyers list, EXCEPT if you are offering nothing new and are just re-hashing someone else's work.

In fact, there can be many reasons for them wanting to link with you, including if they can link with you they can potentially lock out other people linking with you in the same way, and this might be valuable to them.

I've suggested to one guy I know that he partner with a really big guru, because the guru has an interest in creating visible protege's. The guru could create the same product for the market, but either hasn't or just hasn't released it yet. This guy could potentially leverage off a massive buyers list of this guru, if what he has is as good as he says it is.

Look to Jay Abraham's stuff to work out how your 'competitors' are very often your best allies.

[Dee]

Hi,
I'm new here and was just browsing and saw your question about info products. I've been on a similar venture and through a website called Goodbye Corporate Job I heard about a teleclass coming up regarding how to create info products. I don't remember the dates, and I think you have to sign up with your name and email to get ongoing information about building your business (info products being one of the ways). I believe the teleclass is free and it is with an expert who coaches people on how to create info products. So it may be worth the listenining in. You may want to sign up to get notified. Best of luck to you!

--Dee

[Jim Sherry]

Great information here, I like to get more involved about info creation, therefore leveraging my time, money and efforts, and surely should of spent more time on this subject sooner.

At this stage, I'm doing a little research, however not sure if its a good one to dissect a niche I would enjoy to its fullest creation to up price, This will answer my questions.

I'm going offline to the magazine rack in book stores to get a better view of focus, than to my monitor.

Good to meet you all, and see your views on your ventures, thank you.