Here Is The First In Series Of 10 Money Making Ideas – Create And Sell Your Own Information Products!
Here’s A Money Making Idea To Potentially Earn $10,000 monthly!
If you are strugling to come up with money making ideas then I can assure you that you are not the only one. Many people who are just starting out don’t even realize that they have knowledge that other people would be willing and even eager to pay for – and chances are, there’s a book in you that could make you rich! Maybe:
- You’ve lost a lot of weight and could teach others to do the same.
- You know how to stretch the family budget.
- You could teach others to clean carpets.
- You know how lay crazy paving.
- You know how breed and raise german shepherds.
The above list includes just five ideas… but the sky is the limit!
Take time to brainstorm your interests and talents, and you’ll quickly discover that you know a lot about a particular topic.
So once you’ve figured out what to write about, what do you do next?
Below is a step-by-step overview of the entire process. Remember that most of what you see on the list below can be outsourced to competent freelancers:
1) Research the market to ensure your idea is profitable. You’re goal isn’t to find a market and give them a product that requires them to first be educated about why they need this product. That’s the long, hard and expensive way of making money. Instead, your goal is to choose a hungry niche… and then give them a product that they’re ALREADY buying.
2) Research the competition so you can develop a better product. Now, you don’t want to just give your market the exact same product as the competitors are delivering to the customers. You want to make your product unique – and you want to make it better. So your next step is to research the competitors’ products to discover how you can improve upon the products the market is already buying.
3) Create the product. Next, it’s time to take action. Shut the ringer off on your phones, lock the door, close your email… and start typing. Start with an outline and a goal to write XXXX of words per day. Then keep typing until you finish your ebook – don’t worry about editing, because you can do that once the draft is finished.
Quick Tip: If you don’t like to type, then try a voice-to-text product. There are many software products on the market, just turn to our old friend Google to find them.
If creating the product doesn’t sound like something you want to do yourself, then outsource the task. Two popular outsourcing websites are –
- Odesk
- Elance
4) Set up your website, including a lead-capture system. Next, you need to write a sales letter that sells your ebook and upload it to a web page. You’ll also want to set up a squeeze page with an autoresponder as a means to get your visitors to join your newsletter list. This is important, because most people won’t buy your ebook the first time they visit your site – the money is in your list!
5) Set up your backend sales system. Most people don’t get rich selling just one product. Instead, they find their wealth is hidden in the backend of their business – this is where existing customers buy more products and more expensive products from you.
Example of a typical sales funnel –
- Your Ebook – Entry product $9.95
- Membership Site – $19.95 Monthly Subsription
- Training Program – $197.00
- Mentoring Program – $997.00
- Live Workshop – $2000.00
As such, even as you create your first product, you need to also be developing your backend sales system. You should set up various ways to contact and pitch additional products to your existing customers, such as by email, postal mail, membership site forums, blogs or even through links in the products they’ve already purchased.
And there you have it – the five-step path to riches.
It’s not a complicated process. Indeed, you can boil it down to a few words:
Find a hungry market and give them what they want.
Heeding the advice in the last line will put you on your path to a potential $10,000 a month income.
I hope that you have taken value from this money making idea and be sure to look out for in the future for the coniuing series of money making ideas.
As always I wish you well
Pete Harris
Digital Marketer & Home Business Consultant
Six Figure Mentors Elite Member