Work Yourself Up!

Are You Betting Everything on One Product or Income Stream?

My post a couple of days about about Amazon vs. Lightning Source got me thinking...  I see way too many entrepreneurs with a business based on one product or income stream.  This is the reason why it's such a big deal when Amazon drops Lightning Source.

How many people do you know who were making a killing with Google Adsense, only to have it all taken away when Google changed their search results, shut down the account, or changed how the game was played.

It happens all the time...  Ebay just changed its policy on selling products which are delivered online. No more ebooks, no more software, or anything which is instantly downloaded.

Makes me wonder what the people, like this guy, who were making a killing selling downloads, are going to do now that they can't do it anymore.  Sure, they can package everything up and mail it, which is probably a pretty smart idea, but will that hurt sales?

Bottom line, whether you're involved with Adsense, anything related to SEO, Ebay, or ANYTHING, you need to diversity.  You never know what will happen and it's a huge risk to put all your eggs in one basket.

Would you invest all your money in one stock?  Probably not.  But that's exactly what you're doing when you've only got one product or means of income.

Amazon Screws Independent Authors

Thinking of publishing a book?  Amazon just made a decision about print-on-demand books, which may make you think twice.

It's short-sighted...

1. Most self-published authors market their own books and send traffic to the bookseller.  Rather than be forced to use Amazon's printing company, they'll just send people who want their books to Barnes and Noble or somewhere else, which will result in no business for Amazon.

Yes, I understand the benefits of having a POD book printed in the same warehouse as the toaster which was ordered.  But if people are buying books somewhere else and never visit Amazon in the first place, they'll buy a toaster somewhere else.

2. This deal cuts into profit margins for self-published authors, which aren't much to begin with.  And if people aren't making money at something, there is less reason to continue to do it.  If this deal happens, in the long run, Amazon will make less money, because there will be fewer titles to sell.

This is what really pisses me off about the whole thing.  The information within books is important to society and we all benefit because of it.  As far as I'm concerned, when you hurt the creation and production of books, you hurt everybody.

This deal is like Wal-Mart refusing to sell goods which aren't made in a company-owned factory.  It will limit options for consumers, which is never good.  It will also hurt a lot of independent authors, which until this time, I always felt that Amazon had a soft-spot for.

My thought is to let the book publishers decide where to print their books.  If Amazon can a build a "better mouse trap" and do things better than Lightning Source or other POD companies, authors and publishers will follow.  There is no need to force anything.

Agree with me?  Sign this petition.

Report Writing In 5 Easy Steps

One of the greatest challenges among Internet marketers is how they can come up with reports that are related to their chosen niche. They can come in the form of ebooks or online guides. Either way, they try to solve a particular problem that’s pressing in the industry or is causing so much confusion and concern among their targeted customers.

Writing a report is a very effective means of attracting your customer base. You can give them away for free, and they would surely grab it as it’s always timely and solution-driven. But how do you exactly come up with what to write? Most of all, how can you produce the most well-received report? Heed to these tips now:

1. Pick your niche.

Before you even write a report, make sure you already have a clear idea about your topic. Your subject will tell you where to look for information, what kind of data you will put in your report, your manner of presentation, and, most of all, the people who will be interested in reading it.

2. Look for common problems people face.

Once you’ve already identified your niche, it’s high time that you look for an issue or a problem that you would like to tackle and perhaps even solve. Fortunately, you have variety of sources. The World Wide Web is filled with message boards, newsgroups, and blogs, to name a few, that will give you an idea of questions individuals usually ask about your niche.

3. List the questions.

Why do you need to list down the question? You can actually place them all in your head, if this technique doesn’t overwhelm you. However, you must realize that relying on your memory may not do you good, as there’s always the possibility that you will forget about it. Your list will make it sure for you that you won’t definitely lose such a fabulous idea.

4. Select the best question.

When you already have the list of the common questions of your target market, it’s time to choose the best question to answer. You will know which of them is by simply taking note how many are actually asking about it.

5. Write your report.

Since you’ve already gathered all the required info, it’s high time that you proceed to writing your report. Keep one thing in mind: don’t lose that question. Every point that you make should deal with it. You should be able to provide workable answers in your report. Thankfully, you have many sources too for your answers. You can go back to the reference materials you utilized in gathering the questions. You may also read other people’s reports about the subject. Just so you don’t bore your readers, keep everything short, simple, and accurate.

My Typical Day...

First of all, let me tell you a story about how I came to be in the position that I'm in...

When I was in college, my friends and I would spend a lot of time hanging out and playing Mario Kart on Nintendo.  We'd go to dinner, shows, etc.  Lots of free time...

I remember thinking, "This is what I want my life to be like and I'm going to find a way to do that."

Today, I rarely play a video game.  But I could do it all day, if I wanted to.

So what's a typical day like?  Well, I hit the gym daily, usually during the day, when most people are working.  It's me, the trophy wives, and maybe some retired people...

As one of the few guys, especially at my age (35), I get a lot of questions regarding what I do for a living.  Things like:

"Do you ever got to work?"

"Do you have a job?"

"What do you do for a living?"

So it got me thinking-- as this is a blog about growing a business and living the life you want, I should post something about my "typical" day, if there is such a thing.

My typical day...

This morning, I woke up about 9am.  Did yoga, like I do every morning, ate breakfast, and went to a hair appointment.  Came back home, ate lunch, and watched last night's episode of Celebrity Apprentice.

It's worth noting that I don't own a TV and watch very little.  But I feel the business lessons in a show like the Apprentice are worthwhile, so I downloaded a copy of last night's show and watched it on my computer.

Had a real estate closing at 1pm.  Signed some papers, got a check, and hit the gym for a couple of hours.

Dropped by the office supply store to get some envelopes, hit the bank to deposit that check, and had a brief meeting with a friend and business associate...maybe 15-20 minutes.

Got home, talked to my assistant about plans for a product we're developing and now I'm in the process of going through my "to do" list and waiting out a big snow storm, which is supposed to come in tonight.

What's on the list?  Mostly product creation stuff.  A few outsourcing management tasks. 

These two things are what enables me to do what I do.  And by that, I mean make money without actually being in the office "working" on something.  When you sell products, as opposed to services, you do the work once and get paid for it again and again.

For example, you write a book once, but you can sell as many copies of it as you're able to print.  And if printing and fulfillment is outsourced, and it should be, you'll bring in money and be able to be off doing something else...like creating another book, which will bring in even more money for you.

Let's talk about books specifically for a minute...

Having a book will not only bring you money directly, it will also bring you money in other ways.  For example, you'll make money from the sale of the book, but the credibility you'll get from having a book will enable you to make more money from something like consulting or speaking.

I'll give you an example...

This is my new book, Ask, Believe, Receive - 7 Days to Increased Wealth, Better Relationships, and a Life You Love.  If you buy it, and I hope you will, I'll make money.

But the real money comes in from other things I do, like speaking or consulting.  Or backend products, which cost a lot more than a $10 book.

Why not just skip the book and go straight to the big money products?

Well, you can, and plenty of people do, but a $10 book can give you 1000x that in perceived value.  A person who has put out a book has a lot more credibility in the industry than somebody without a book.  This means you'll be able to make a lot more money!

Why?  Because people don't understand how the book business works.

Unfortunately, people who should be in the book business don't understand how it works either.

I can tell you firsthand that putting out a book is easy.  Last year, I released 12 of them.  This year, I've already released one and I have another four in the pipeline.  And I'm a guy who spends his "typical day" at the gym...and nights out dancing or spending time with friends.

But because people don't know how easy it is, they think it's right up there with something that hard...like becoming a doctor or famous celebrity.  I mean, think about it... When you turn on a show like Larry King, who is he interviewing?  Doctors, famous actors, people who are somehow at the top of their chosen professions...and authors!

Putting out a book is easy...if you know how.  And because I'm so convinced it's the way to go for making all your lifestyle and financial dreams come true, I want to help you with your book.

My question for you...

Actually, I've got a couple of questions...

First of all, I need to know if you're interested in doing a book...and having me teach you my step-by-step process for making getting it out.

Secondly, I need to know what you need to know about the book creation process.  Things like:

• Topic Selection
• Writing
• Editing
• Layout
• Printing
• Distribution
• Fulfillment
• Marketing
• Dealing with Ghostwriters and Outsourcing

First of all, are you interested in learning about this stuff?  If so, let me know.

And if you are interested, post what you need to know here and please be as specific as possible.  This will help me with future post topics and make sure you get exactly the information you're in need of.

Let me know what you want to learn and watch this blog for more details.  You may want to subscribe to the feed or bookmark the site, so make sure you don't miss anything.

How to Create a Best Selling Infomation Product

Just about anyone who has spent some time in the internet marketing field understands how fantastically profitable information products can be. However, creating an information product and actually making money with that information product are two totally different things.

Creating a profitable and successful information product can be quite a challenge to the average internet marketer. To actually be successful you need to find a topic with a lot of demand, research and write the material, craft a convincing sales letter, create eye catching graphics, and finally develop a marketing strategy for your finished product. All of this can be a little daunting to say the least.

By far the most common mistake that info marketers make is picking a topic that is of interest to them personally. Unfortunately, just because you are passionate about something doesn’t many that many other people share your same passion. Being knowledgeable and passionate about a given subject is certainly helpful but it is not as important as the demand for that topic.

For your info product to sell it needs to be about a subject that people will happily pay money for. Basically, most people will gladly hand over money for information that promises to solve some kind of vexing problem. The more serious the problem is that your info product addresses, the more money people will ultimately be willing to pay.

Actually researching the topic of your info product is probably the easiest part of creating an info product. This is the information superhighway after all and you can find information on just about every conceivable topic. You should start your research by looking at information products that are similar to the one you are working on. In many cases your information product will end up being an improved version of an existing information product.

This is done in the business world all of the time and is a much more effective strategy than developing a product out of thin air. If a particular information product is already doing well, you should have no problems marketing an improved version of that same product.

Once your info product is finished you need to convince people that your product is actually worth buying. The way to do this is by crafting a dynamite sales letter and throwing in some high quality graphics. It takes years of experience to be able to write and effective sales letter and unless you happen to be a seasoned copy writer, it’s best to hire a professional to write your sales letter for you.

The same goes for your graphics as well. You should not attempt these things unless you happen to have the proper experience. You can find affordable copy writers and graphic designers by looking at elance.com, guru.com, and even the warriorforum.com.

Your marketing strategy is how you actually plan on getting the word out about your info product. The easiest way to get the word out about your info product is seek out joint ventures with other internet marketers who happen to have access to the kind of buyers your info product appeals to.

The Warrior Forum, for example, actually has a section devoted purely to those are seeking out joint ventures. In order to engage in a joint venture you will need to create an affiliate program for your info product. This is how your JV partner will make money off of the deal. Don’t be discouraged if your first few info products are a flop. If you stick to it there’s a good chance you will eventually create a best selling info product.

Women and Marketing?

I want to talk to you for a minute about two things I love...women and marketing.  But to really talk about this stuff, I have to separate this post into two sections-- one for men, and the other for women.

MEN - READ THIS SECTION (Women, read the section below...)

I know this from personal experience (and from the hundreds of men that I've talked with about it)... 

A lot of guys in this business  have a problem in that the women in our lives don't understand what we do for a living.  And if you're in a situation like this, you know how stressful it can be on your relationship when you need to some work, yet it seems like you're "just goofing off on the computer again."

And other guys I know, they want a way to get the women of their lives involved in their businesses.  Or to show their mothers, sisters, or daughters the freedom that comes with having a career like this.

Well, I've got a solution for you.  My friend Wendy Wallace is doing a 12-week "Build Your Business" course just for women. 

So if you want to do something nice, which will empower the woman in your life, take a look...

This link has details.

This would make a great New Year's gift.  And it's cheap!!  :)   And by cheap, I mean $97...with a 100% guarantee.

WOMEN - READ THIS SECTION

Let's be honest...  This "business" is run by men.  They're good people, but they don't understand your issues-- the delicate balance of work and family, dealing with kids who need a mother, etc.

And relating to the gurus?  Heck, I'm a guy and even I can't relate to them.

You need somebody who can help you to grow your business, who truly understands you and your life.  Somebody who has walked a mile in your shoes.

Take a look at this 12-week "grow your business" course, run by a woman, made just for women.

This is the ONLY place you'll get this kind of training.  I know you'll like it and I know you'll get results.  If not, she'll refund all your tuition.

EVERYBODY

Hope you have a great weekend!  And I hope you have an even better 2008!

Product Creation for Dummies

The best way to make money online, bar none, is to have your own product to sell.  Of course, it helps if that product is something needed, and if your niche is willing to shell out money for it.  There are some important factors to look at when creating a product.  Let’s take a look at how you can come up with your own wildly profitable product to sell online.

First and foremost, the biggest mistake most product creators make is creating a product first and attempting to find an audience second.  You should actually go about this in reverse.  Find a market, with an audience of thousands of people who want something, and then create a product to fit their needs.  This is a simple tip, but the most important one as far as having a product that is profitable.  Thousands of unwanted products sit online everyday and never make a sale.  This problem could have been remedied with a little research first.

Secondly, try to find not only a market that wants something, but a market that wants it desperately!  Information products do especially well on this point, and many of the most successful products are merely those that were marketed correctly to a desperate audience.  As you may know, internet marketers are desperate to make money online.  When was the last time you spent $97 on an e-book to help you do so?  Teens and adults who suffer from excessive acne are desperate to learn about what lifestyle changes or miracle cures are available to clear up their skin.  Someone worried about a pregnancy, a wedding, or a divorce would be desperate to get quick access to answers to the questions they have.  Pick a desperate audience and supply them with the answers they want, and your product will be a winner!

Finally, be prepared to step outside your comfort zone.  Maybe you found a market for some information that is simply not within your knowledge zone.  Spend a couple of days researching that topic, via Google, online forums, professional help articles, and through any other means at your disposal.  What you will find is that in most cases, you can gather the data you need from many different sources and then piece it together into one cohesive product fairly easily.  It’s not that most buyers couldn’t do the same thing, but they’re paying for the convenience of instant answers and not needing to research ad nauseum.  If two days of research yields you ten years of product profits, isn’t that a worthy investment?

So keep in mind, the most important part of product creation is to discover a product that needs to be created!  Find a market that is looking for something, and fulfill that need.  Then begin your online marketing efforts, and watch the cash flow in!

Making Money with Information Products

Information products, generally known as reports or e-books, are one of the most profitable products you can sell online.  There are many reasons for this – development price, printing costs (or rather lack of printing costs) and ease of distribution.  Internet users have become very accustomed to e-books and short reports as a form of online product, and are more than happy to pay for the information they want.  As everyone has something they know more about than others, this puts you at an advantage.  Let’s learn more about how you can profit by creating an information product.

Here are the basics to creating an information product.  First, pick a main topic, something you’re at least somewhat familiar with.  Next, search online and find any forums, communities, or question boards that deal with your topic (or a subset of your topic).  Read through some of the questions that are asked, and attempt to nail down a specific problem that many people need the answers to.  Research the topic more, discover the answers and other, related information that may be of use to these people.  Open Microsoft Word (or something similar) and write your report, e-book, or whatever you’re creating.  If you are a programmer, you may actually be tackling problems by creating a program to do so.  Complete your product, place a sales page online, and drive the people who want the answers in your product to your site. 

If you are creating an e-book or short report, you may well wish to create it in Adobe .PDF format.  This is simple enough, as there are several free or inexpensive options. Try PDF995, which is free, easy to use, contains no watermarks or penalties for not registering, and creates a professional product.  If you already own Adobe Acrobat, so much the better!  Users are far more accustomed to downloading a PDF than a DOC file, and many people don’t have Microsoft Word, nor realize that there is a free DOC reader available online.

If you are creating a software package, debug it until the point where you can’t break it to save your life.  You may not get a second chance to maintain your buyers, and if your program crashes or appears unstable, many of them may immediately request a refund.  They may also be wary of any products you release in the future.  Make sure your program is stable, works properly and answers the basic needs of your target users.

Finally, it's a good idea to have a refund option.  Many people will not buy without one, as they don’t know you from John Doe and have no way to know if you are peddling gold or peddling crap.  A refund guarantees, in their minds, that there is no risk involved with purchasing your product.  In my experience, refund requests are nonexistent, although if you do not satisfy your customer with your product, I’m sure refunds would be more frequent.  However, even really terrible products have a relatively low refund rate, so always offer one.

Why You Must Have Your Own Products

People often ask if it was necessary to have your own products online. This is a question that arise because a lot of people know that you can make money from other ways without sweating to create your own products.

Affiliate marketing
Adsense
Pay Per Lead

All these methods are great methods to make money online so why bang your head on the wall trying to create your own products?

This reasoning is logical but we have to consider some other factors. I mean reasons why we should have our own products.

Reason 1: All the gurus have their own products

All the Internet marketing gurus you’ve heard about have their own products. Even the top affiliate marketers like Ewen Chia and Rosalind Gardner. They all have their products.

Reason 2: You are in control

When you have your own products, you are in control of your destiny. You can decide to increase or decrease the price of your products at any time.

I’ve seen affiliates promote a product only for the product merchant to decide to start offering the product for free. The affiliate lost lots of money. That won’t happen when you have your own products.

Reason 3: It boosts your affiliate marketing

Who do you think people will buy from? A person that has his own product and is also a promoting a similar product or a person that does not have a product.

When you have a product, you will be seen as an expert on the topic and your views will be respected. It will be easier for you to sell related products. Again, you can offer your product as an add on for people that order through your affiliate links.

Reason 4: You make more money

When you have your own products, you have a chance to make money. You have no competition and other people can even start promoting your products for you. That will be more money for you.

While it’s good to make money from as many sources as possible, your chances of long term Internet success will depend on you and having your own products. That is what the big guys do and you should emulate them.

How to Create Information Products Using "Private Label Rights"

If you didn't know it before, I'll tell you today. If you want to make big money online, you have to create your own products.

Forget about all the noise about Adsense and affiliate marketing. I'm not saying they cannot make you money, but if you want to build a sustainable internet business, then you must have your own products.

Or why do you think that the big Adsense and affiliate marketing guys have their own products.

Even if you don't sell them well at the beginning, you can offer your products as bonuses to people to come to your site and buy other products through your affiliate links and even to click on your Adsense.

Having said that, I must confess that it is a lot of hard work to create your own product. You have to do the following and more.

- You have to do a market research - You have to write pages and pages of book - You have to create ecover graphics.

Heck! Small wonder many people don't do it.

You can however avoid the above problems and have your own product with your name and copyright on it by investing a little amount of money on Private Label Rights products. It is very easy to do.

So here is a breakdown of how to do it.

1) Purchase a Private Label Products. Search for “Private Label Ebooks” on google

2) Brand it as your own by putting your name as the author.

3) Edit it by adding what you want to the contents and also by removing what you don't want to give it a personal touch. This is important because there will be others out there with the same rights.

4) Create a new ecover for it or edit the source file you were provided with.

5) Go online and sell your product or give away to build your list

Last note: Do not go for a right that is too cheap. If you've got a package of 20 products for just $5 then you should know that thousands of other people out there have the same rights.

Also you should buy rights directly from the creator of the products only and not those that bought the rights and are reselling the rights. Buy from only those that say you can only use it for personal business and not the rights to give the rights. No master resell rights.

Follow these tips and you will be creating your own products in the next 24 hours.