This is hands down one of my favorite business models. Here you create an information product on your topic. Your product should show people how to achieve something or overcome some obstacle or challenge they have.
Your product can be in any number of formats such as:
What I love about information products is that you create them once and then they can earn you money for years to come. I love the concept of working once and getting paid over and over again. Don’t you?
Creating your own information product really isn’t as complicated or as difficult as it sounds. Modern technology has made it super easy and you probably already have all the necessary software already installed on your computer.
There are so many different formats you can create and sell your information product in. First off, you can create either a digital product or a physical one. I prefer a digital product because there are no production or shipping costs, but physical products do have higher profit margins.
Secondly, you need to decide if you want to create a written product (eBook, Kindle book, hardcopy book, manual), an audio product (mp3, CD, streaming audio) or a video product (DVD, streaming video, downloadable video). Or you may choose to create a product that has a combination of all three.
You don’t even have to create any of the content yourself. There are so many strategies that allow you to leverage the knowledge and expertise of others to create high value information products that others will pay top dollar for.
One such strategy is interviewing experts on the topic, recording the interviews and then selling them.
Creating and Selling Your Own Information Product(s) is perfect for you if:
You like the idea of doing the work once and getting paid over and over again
You enjoy writing and or sharing your knowledge with others
You prefer doing the majority of work up front
You want a large profit margin from your business
You are an introvert and prefer to earn an income without too much interaction with others.
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