I have the privilege of personally knowing hundreds of successful full-time digital marketers.
They use dozens of successful business models including selling advertising, promoting affiliate products, setting up ecommerce products, selling on Amazon, selling t-shirts, coaching, software development, being a virtual assistant, and providing marketing services.
But one of my favorite businesses is creating and selling information products.
It’s how I personally got started back in 1996.
I was a pizza delivery driver with over $50,000 in debts…and a load of junk in my basement from failed business opportunities and networking marketing companies.
I heard hype about the Internet, bought my first PC, and trained myself how to use it.
But I didn’t have the confidence in myself to create a product at that time.
Instead I licensed information products from others.
That’s right. You don’t have to create your own products to be in an information business.
You can position yourself as a publisher of other people’s products.
You could license a product from someone else.
This could be an exclusive license where you partner with an expert. They create the content and you market it online in a partnership arrangement.
I have a couple of clients right now who are following that approach. They’ve partnered with an expert who produces all the content, the videos, and the products. My clients produce the sales copy, manage the list, set-up the funnels, and drive traffic to the pages.
When I started out, I simply paid an upfront fee for non-exclusive licenses to several products. I focused on attracting people to my email list and then sending offers for those products to my list.
Another method is finding an expert or a group of experts and interviewing them to create your first product.
You research your market to find out what’s already selling, what questions potential customers are asking, and what else they want to buy.
This information is freely available online by researching Amazon’s best seller lists and reading through the reviews of popular products on Amazon. In addition, you can view discussion groups and social media to see what people in the market are talking about most.
If you have an email list, you can send a simple survey where you ask them what their biggest question is about _______.
Your future customers provide you the questions to ask.
The expert on your interview supplies the answers.
You hire an audio editor to make the interview shine.
You put it all together…and profit.
A third method is hiring a ghostwriter to produce the content.
Again, start off by doing your research.
Find out what’s selling. Take notes from the Table of Contents of top selling books/ebooks. Check out the sales copy of some of the competitive products. Clickbank and Udemy both have marketplaces you can scan, paying special attention to outlines or bullet points.
Put together a detailed outline of what you want covered in an ebook on the subject.
Hiring a good writer can cost anywhere from $500 up to $10,000 or more…depending on the level of quality you want and where you hire the writer. You want a native English speaking writer.
With Elance or Odesk you can usually expect in the $500 to $2,500 range depending on the length of the product (a shorter 50 page ebook is going to cost a lot less than a full 200 page book).
With clients I’ve worked with, it’s common to have a mixture of products of your own along with products created by others.
You could create your core offer…and then either license, interview, or pay a ghostwriter to put together your initial upsells for your first funnel.
In my next email, I’ll give you 5 counter-intuitive tips I’ve discovered over the past two decades of both selling millions of dollars in information for myself and with clients.
If you’re interested in getting started fast, I’d recommend checking out the Monthly Mentor Club.
It’s the quickest and easiest way to get the systems and the support to start your own Information Empire online.