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Making Money Online: The Truth Part 2

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In The Truth Part 1 I discussed the 5 step formula to being successful online.  One of those keys is that you must have a product to sell.  This can either be your own or it can be someone else’s (ie, a product that you sell as an affiliate for a commission). 

Side note: The type of products I’m referencing are digital ebooks, audio and/or video information products known as info-products.

Pop quiz: If you were just guessing, which product choice (your own, or an affiliate product) do you think will generate the most profits for you?

If you guessed “your own product”, then congratulations!  

Why is it so important to have your own product?

For the same amount of work it takes to sell an affiliate product for 30% commission, you can keep 100% of the profits!

With your own products, you’re in control of your profits.  You have options that affiliate marketers do not.  These options allow you to build your business to a higher level of profits.

With your own info-products, you have the ability to:

  • Setup YOUR OWN affiliate program and have an others sell your product for you!
  • Strike up Joint Venture deals for quick surges of traffic and profits!
  • Recycle your profits.  (See A-D below)

(A) You can sell Resell Rights to your products. Resell Rights are very hot, because resell right licenses give people a short cut to having their own product to sell.  It’s an instant business.  So you’ll be fulfilling a need in the marketplace and your profits will reflect this.  Plus, Resell Rights can sell for as much as $197 per license!

(B) You can take the same content in an eBook and create audio and/or video versions to offer as upsells for additional profits.  You can also take these and turn them into physical CD’s or DVD’s which can command much higher profits because they have a much higher perceived value to your customers. 

(C) You can use the content to create online html e-courses to generate leads to build your list. 

(D) Cut up your already existing products and make smaller more targeted products. You can either use them to create free or paid lead-generation reports that can advertise your product around the clock.

You can’t do these things with products you don’t own!

With your own product, you’re 100% in control! You set the price. You set the commissions. You decide how much you want to make.

“But isn’t creating your own product hard? What if I’m not an expert at anything?”

Creating information products is not hard.  Does it take work?  Absolutely.  If you’re afraid of work, then making money online is not for you.  

But once you discover a little known secret about creating info-products, you’ll quickly realize that it’s much easier than you think.  What’s the big secret?

You do NOT have to be the expert!

I can’t tell you how many “gurus” are leveraging “other people’s information” to make money.  It’s true.  The fastest and easiest way to have your own info-product is to tap into the knowledge and expertise of someone else.

Case Study: I created my first info-product by interviewing an expert on the phone.  I put up a mini sales page using push button sales letter software, quickly set up the product on Clickbank for an instant affiliate program, and then contacted a few product owners in the same field offering to pay them 60% of the profits and a copy of the product and it made me a few hundred dollars every month!  At the time, I was struggling financially, so this extra cash was literally a life-saver!

Later, as I developed relationships with these affiliates in this niche, I was able to leverage their products to create a very valuable “mega product” that generated $76,000 in gross sales in a 7 day period.  I used their content (ie, products) and their traffic to make a huge sum of cash. 

My point is, if I can do it, so can you.  I say that, because I’m very lazy by nature.  It’s a struggle to get motivated sometimes.  I started out like everyone else.. “green behind the ears” and clueless.  But I learned by doing.   Yes, I made mistakes and I got it wrong sometimes.  But I was persistent and consistent.  And it has paid off.

Pay attention to this..

“You don’t have to get it right.. you just have to get it GOING!”

This is so true.  And it all starts with

    Step 1

Are you ready to take it to the next step and find out how simple it is to leverage other people’s information and create your own low-cost, high profit information product?

If making 100% of the profits is more appealing than 30-50% of the profits, for the same amount of work, then there’s no time than the present to start creating your own info-product!

Tags: Articles · Making Money Strategies

2 responses so far ↓

  • 1 Barak Strickland // Feb 5, 2008 at 5:44 pm

    Dave

    Thanks for sharing this important information. I especially enjoyed the details of your initial experience.

    Thanks again,

    Barak

  • 2 Nancy // Feb 10, 2008 at 1:58 am

    Hey Dave,
    good points you raised with this post. Most people would rather make the 100% but it’s the products that stop them – what do you make? That is a good question to answer and one I think about to create something new and unique. The not-so-great side is …. I’m still thinking! : S Thanks for the info.,
    Nancy

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