An Overview On Creating A Reliable Information Product

by Jimmy Cox⁽¹⁾
Nicolas Darvas Trading

The first thing a friend and I created was an information product called the Metastock Programming Study Guide, which explains a particular charting package, a piece of software called Metastock. It was our first product, it was a physical product just like the SEO products we have now. It took us probably about six months to write.

We sold it. That was an early learning for me. Information based product are some of the best products that you can sell. Regardless of what business you're in, it's always a good idea to see where can you create information based product in your business. How can you create DVDs that teach people how to do things? How can you create manuals because they're fantastic supplements to the core business that you're already doing.

They've got fantastic margin. Typically an information product might cost you $10 to make but potentially you could sell it for $200. For example, the Metastock Programming Study Guide, we sell that for $297 but it probably costs us $30 to actually create and then fulfill and ship. There are great margins in it. It's very scaleable as well. It's not dependent on my time. A lot of people when they first starting small business, they're capped by how much work they can do. There's only so much work that you can do when it's dependent on you delivering that service. By the way, our small business internet marketing review might be helpful to those who are just starting.

So you start off delivering the service, getting the cash flow right, it's really important to make sure you get your cash flow right. But then you need to start to think about how can I start to create these information based product or other streams, it doesn't even have to be info product but basically create income that can be generated through selling of something that isn't necessarily dependent on you.

So we created the Metastock Programming Study Guide. Then we ended up, it was probably just before I was twenty, we toured around Australia and did seminars in each of the different states. The final one we recorded and made DVDs, so that was our second information-based product.

So for me, this product was great, it sold really well in our immediate community. A lot of people picked it up and we were getting some great feedback from it. Then my next lesson came when I started to realize the sales started to slow down. Then I realized, it was a little bit of an aha moment when I realized the money really is in the marketing even before I before I became an internet entrepreneur.

You can have that fantastic information product, you can have a great service, you can have people raving about it but unless you get the word out far enough to new people, then you're not going to make any money. It needs to get in front of the right audience. That's when I realized the money was in the marketing.

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Article submitted Tuesday, January 03, 2012 & read 6 times.

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