One thing this 30 day series will make clear by the time it is complete is that there are many ways to generate an income online. However, there is no better way (in my opinion) than selling information.
People go online in the first place to gain information. They want to learn about something. They have an immediate problem to solve. They go online for how-to.
Today, there is SO MUCH information available online that it is extremely hard to digest. Said simply, there is probably very few information products available online which contain information that you cannot find for free somewhere on the Internet. However, that information is probably spread out across tons of websites, is hard to find or is not in a format which makes it usable. So, even if your information product contains things which are available elsewhere, it can still be valuable as long as it provides real, measurable value to the customer.
The major benefits to information products over selling physical items is:
- Low cost of distribution. Many info products can simply be downloaded. This means no shipping costs for you or the customer. It also means immediate satisfaction for the customer. Of course, some of the higher end information products are shipped as a package (DVDs, videos, course materials), but that choice depends on your market and what they want.
- Easier to create. If you find a market with a need, you can create your own information product specifically to that need. You do not need to shop around for a seller to buy it from. As long as you have the know-how in our market, you can just create the product from home.
- 100% profit margin. In most cases, your only investment is the time it takes to make the product. If the product is digital in nature (such as a PDF e-book) then you have a 100% profit margin.
So, now that you know an info product is a good way to go, now what? Stay tuned for Day 11.
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