So you want to be a successful business owner.. what’s next?
The first thing you need to do when starting a business is to find something you’re good at and enjoy doing. Many people call it a “passion”. It’s been proven many times over again that passion drives business. Some will argue that you have to find a demand, research competition, and figure out market saturation. While all of these criteria need to be met, business starts with a passion. A good example is arts & crafts.
Have you ever heard of Etsy? If you’re into arts & crafts, I’m willing to bet you’ve shopped here before. Etsy is basically an eBay for individuals and small businesses to sell their craft. Some enjoy sculpting clay, while others enjoy painting. Some focus on seasonal items like handmade wreaths for Christmas, while others enjoy producing other interesting widgets. The point is that these people found something they are good at, something they enjoy doing, and something that others are interested in purchasing. Easy enough, right?
But what if you’re not good at painting, sculpting, or producing any other physical products? Enter the information world
Many of us don’t really have the proper skills to physically produce something that will sell. We also may not have the inventory skills we need, or the tools to ship products to the consumers, and the list goes on.
But, as you may already be aware of, people are willing to pay for information. What you may NOT know is that there is something that YOU know about, that’s in YOUR head, that people are willing to pay YOU for!
Don’t believe me? Allow me to provide you with some examples to get your creative right brain working..
Do you have any knowledge on how to:
- Wash a car?
- Maintain relationships?
- Raise a child?
- Naturally cure anything?
- Use FaceBook to network?
- Eat healthy foods?
- Do juicing diets?
- Train dogs?
- Translate languages?
- House sit?
- Travel on a budget?
I could go on for days creating topics for you, but the point is this: YOU retain knowledge about SOMETHING that can BENEFIT others to the point that they are willing to PAY YOU to help them. In marketing terms, you have the ability to meet a target market’s wants and needs, and you can receive money in exchange for information to help them solve a problem. Heck, even if you don’t know how to do anything (which I find almost impossible to believe), you can still have a product created on your behalf by paying someone a small amount of money to do research and create a product for you! This is called “outsourcing”.
How do I create my own product?
Now that you have a topic to share with others in exchange for money (i.e. your informational product), you need to create a product on that topic. As I said above, you can create your own, or you can outsource. Either way, your final product will need to be delivered to the consumer in some way.
Here are the 3 Main Product Formats:
- PDF (ebook)
- MP3 (audio recordings/training)
- MP4 (video recordings/training)
The format of your product will depend on many different things. Let me give you another example of how you can figure out what format best suites your new product.
Let’s say you know how to ride a motorcycle, and you want to sell this information to people looking to learn to ride. Would it be smart to create an audio course on this? No, right? It simply doesn’t make sense to tell someone via audio how to ride a motorcycle. In a case like this, the best format would be videos. The person learning to ride would want to actually see you getting on the bike, turning it on, and showing them the tips they need instead of telling them.
On the other hand, if you were selling a course on alleviating anxiety, you wouldn’t want to bombard them with a long e-book, as this would only give them more anxiety. YOu would also want to set a mood, and a good way to set a mood is to do audios on relaxation methods and so forth.
So approach your product format decision with common sense. What way(s) are you going to be able to best relay the information to the customers so they can understand, identify with, and learn from the given information that they are seeking?
Once you get the product idea and product format down, you are ready to begin product creation (writing for ebook, recording for audio/video)!
Here is a Useful Video on Product Creation
After the Product is Created, I need to..?
Once your product is ready to hit the market, there are many things that need to take place. I will name a major ones in order below:
- Sales Copy
- VSL (video sales letter)
- Upsells & Downsells
- Product delivery / Members Area
- Funnel Setup (connecting it all together)
- Traffic Generation
If you want to learn more about launching your own informational product, I found a great book that teaches you how to get your 1st successful online business up and running. It is called “From Misery to Millions” by Alan Magliocca. You can get your own physical copy for free and have it shipped to your doorstep within a few days. You also get immediate video training and there’s an option to buy the audio book as well. It’s really a great resource to have in your marketing toolbox because it covers everything start to finish, from first thoughts about business to growing into an 8 figure empire selling online digital products.
I hope you enjoyed reading this article on internet marketing!