The Best Way to Start an Information Product Business

Business Overview:

If you’re looking for a rewarding and highly lucrative online business opportunity, you should learn how to start an information product business. With an information product business, you create, market, and sell quality electronic products based on topics of information that people are looking for online. When most people go online they do so to look for information. For example, someone might go online to look for information on how to healthily lose 10 pounds in 30 days, or they might search for information on how to become more attractive to the opposite sex and get more dates. With this business idea you conduct research into the types of information people are looking for and then you create and market information products that provide the information that people want. It’s important that your products help the people reading/listening to/watching them to solve the problems that started their search to begin with. You’ll find a deep sense of satisfaction with this online business idea because you’re genuinely helping people. By providing information products to people looking to know how to become more attractive and get more dates, for example, your product will help your clients solve their relationship problems. While you may choose to create information products based on subjects that you have knowledge and expertise on, you don’t have to be an expert on the information products that you create and sell. You could interview experts on your chosen topic (over an Internet connection using special software). The fastest way to start an information product business is to research subjects people are looking for information on, and then hire a writer or expert to create a high quality information product for you. Often online information products are delivered in the form of an eBook which your customers pay to download. However, there are many other ways to deliver information products. For example you can deliver your information products via online audio or video, or via physical products such as DVDs and workbooks. One of the most attractive things about this business idea is that the cost of delivery for information products is usually very low—yet high quality information products can often sell at high prices. For example, you might create an eBook on how to lose 15 pounds in 30 days which sells at $47—yet the cost of delivery is virtually nothing as your clients simply download your eBook to their computer without any printing or shipping costs on your part. Even physical products such as DVDs and workbooks can be produced and delivered at a relatively low cost, and some information products sell for thousands of dollars. Added to this, as an information product creator you can arrange for other online marketers (affiliates) to market and sell your information products for you in exchange for a commission (typically around 50%). Once you’ve created a quality information product and have an effective system in place for selling it, you can reach a point where others do the majority of your marketing and sales for you. Top information product creators earn six or even seven figures or more annually, so starting an information product business certainly represents a very lucrative opportunity. Additionally, you can easily run this business from the comfort of your own home (or from anywhere in the world as long as you have access to the Internet) and it is possible to start your information product business at a relatively low cost. Therefore with dedication and commitment you can achieve fantastic financial success and a great deal of personal freedom by starting your own information product business.

A Day in the Life of an Information Product Business Owner:

As an information product business owner, you’ll have the luxury of choosing your own hours of work. Added to this, as a successful information product business owner you’ll be in a position where you’ll have products and sales systems in place that generate much of your income for you automatically. This is because you’ll have successful information products that are being sold for you by affiliates. You will have to be committed to continually growing your business, which is why you will periodically set about researching and creating new information products. To do this you would spend time researching what types of information people are looking for on the internet. You might assess which information products people are already buying, and consider how you might be able to compete with and improve upon the products that are currently available with your own product. Alternatively you might use search engine data, for example, to look for information that people are searching for but about which there might not be existing information products available. Once you have identified something that people are looking for information on (how to lose weight if you are diabetic, for example) you would then set about creating your product. If you are an expert on the subject, you might decide to create your information product yourself. Alternatively, you would hire someone to create it for you (for example, you would hire a freelance writer to create a quality eBook for you). Having created your product you would then set up a sales system which would allow your customers to buy your product. Usually this would consist of a sales page with a checkout allowing your customers to buy your product via credit card or PayPal payment. You could write and set up your sales page yourself, or you could hire someone else to do it for you. Having created your product and set up your sales system, you would then go about marketing your product. You would do this either by notifying affiliate marketers in niches relevant to the subject of the information product you created so that they sell your product for you (in exchange for a commission), or by setting up websites to market and sell your product on—or both. Of course, researching your product, creating it and setting up your sales system may take you more than a day (and possibly a week or more depending on the approach you take). If you decide to have someone else create the product for you, a typical day will be spent overseeing the smooth running of your business and reviewing and approving the information product ideas your subcontractors will present to you. You will also spend time networking with other information product creators and building your associations with affiliate marketers (so that you have lots of people available in related niches to sell your information products for you).

About Your Customers:

Your customers will be people looking for information on specific subjects. Usually this information will help them solve a problem (such as in health, relationships, money etc.), or it may be related to something that they are very passionate about (or a combination of both).

What You Need to Start:

• An information product (such as an eBook, audio or video program, DVD, workbook, etc.)
• A website to sell your information product through
• Marketing (i.e. having affiliates to market and sell your info product for you, and/or having your own online marketing via search engines, ads, etc.)
• A business license
• Financial tracking software

The Good:

• Information product businesses can be very lucrative (top information product business owners generate six or seven figures or more annually).
• You don’t have to be an expert to create information products (you can hire experts to create your information products for you).
• You can run this business from the comfort of your own home—or from anywhere in the world as long as you have access to the Internet.
• The start-up costs for this business can be relatively low (especially if you choose to create your information products yourself).

The Bad:

• Achieving success as an information product creator won’t happen overnight—it will take time and commitment.
• Big markets for information products (such as weight loss and dating) can be competitive, so finding lucrative information product opportunities will require good research and persistence.

Resources:

• Product Development and Management Association
• Information Marketing Association
• eBook Developers Association
• Wikipedia on E-Books

About The Author

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