There are three models you can choose from when you start building an online business. These are affiliate marketing, coaching and training, and creating information products.
I’m going to discuss the third model, information product creation, because this is the one that allows you complete freedom in how you establish yourself online.
Most of us came online so that we could have the time and financial freedom to spend our life the way we choose. Creating your own products, and eventually a complete product line, is the fastest way to do this.
Think of yourself as a problem solver, and ideas for new products will come to you easily.
When I decided to create my first product during 2006, I wasn’t sure what problems I could solve for anyone. I had been blogging and writing articles for about a year at that time, and believed I still didn’t have enough knowledge to help anyone else.
During that time people kept asking me how to write articles and blog on a regular basis to start getting their name known on the internet. My list was less than a hundred names at that time, and social media was in its infancy, so many of the people I connected with were in forums.
I finally realized that I could create a product that would answer their questions and solve their problem of how to use blogging and article marketing to establish credibility and visibility online. My first information product was born just a few weeks after that.
The model I teach my students to use involves writing an outline of what information you will include in their product.
They then divide that into four parts, preparing an audio or video for each part of the product. They can also include a study guide for each of the four parts of the product, as well as a workbook, checklists, resource guides, and tip sheets to be used throughout the program.
This can all be completed in just a week or so, or you can sell it as a live course to begin with, and then turn it into a product that can be sold for years to come.
The idea is to create information products to sell online that do not require you to physically be there in order to deliver the information to your clients.
You will also want to think about what products would come before and after your product. What information would your prospect need to know before they purchase your product, and what information would be important for them to have after they have consumed your product?
At first, choose affiliate products to promote that meet this need, but eventually you will want to create them yourself as part of your product line.
As you can see, the three business models all come into play when you are first creating your information products. You can create your product in a live setting, with you coaching and training those who are on your live calls.
You can also promote affiliate products before you have more of your products that will meet the needs of your target market. But finally, creating information products of your own will be the best use of your time.
This will also lead to greater financial rewards as you continue to build your product line.