You can create and sell your own information products in almost any niche where people are willing to spend money to get information. And you can get started before you even have your first product. In fact, it’s the best way to do it. Otherwise, you could spend weeks creating a product that no one wants to buy.
Here’s the process for refining and testing your idea prior to creating the product:
You have a product idea. Great! This is the place to start, but don’t get too attached to your idea yet. Look for what products and services are already out there with the same idea.
Consider how you might improve upon them by delivering something that solves not only the customer’s problem, but also fills the gaps left by competing products. Amazon is a great place to do this sort of research. You can find books on similar topics and see what the reviewers say. Maybe there are topics missing from the books, or problems that aren’t properly addressed. Your information product can fill these gaps.
You can also check out Buzzsumo, which shows you what’s popular, based on social shares. And finally, check on Youtube to find out what people want to know about this topic, what videos they’re watching, what their comments are and so forth.
Now that you’ve refined your idea, it’s time to validate it. After all, you don’t want to create a product just to find out that no one wants to buy it. And the way you’re going to do that is to ask people to pay for it. You’ll find these people by taking the URL from one of the posts on Buzzsumo and plug it into a tool called Topsy.
For example, maybe the Buzzsumo post was on how to build your own greenhouse. By plugging that link in, Topsy will show you a list of all the people who tweeted that greenhouse post’s link. You then hit the reply button, and directly tell them about your idea. For example, @bobcushman Saw you like greenhouses, too 😊 Would you buy a step by step video series that shows you exactly ow to build your own?
Make sure to ask if they will BUY your idea, not just if they like it. Saying they like something is not the same as spending money on it. If they respond with a yes, give them the chance to buy it by replying with something like, “Awesome, here’s the link to buy: [LINK] Will create it if 5 people buy.
Once you cross your threshold and you’re sure that people will actually buy your product, then you can start to create it. The actual process of creating of your product could take up an entire book of information – too much to include it all here. But if you’re interested, I’ll be recommending my favorite course on product creation in the near future.
Information Product Creation Tips
Perfection is the Enemy
Your job is to create a product that is ‘good enough.’
For an information product, it’s important that you give useful, helpful information that your buyers can immediately put into use. It’s not necessary to make it read like Shakespeare or have it formatted like a work of art.
Get your product good enough to ship, and then start selling it. If you wait until it’s perfect, you’ll never launch anything.
Don’t Go it Alone
Get affiliates on board as quickly as possible because they can reach far more potential buyers than you can. Yes, you’ll pay them 50% commissions or better, but it’s totally worth it. Just think that for every sale they make, you’ll earn a percentage. But for sales never made, you earn nothing.
You can use tools such as Gumroad or Digital Product Delivery to easily set up affiliate programs and allow partners to collect commissions on their sales.
Stuck for Content? Interview Experts
Maybe you don’t have the knowledge about your topic to make a great product. That’s okay! Interview experts in your niche, record the interviews and transcribe them. Then take everything and organize it into a useful product.
Be sure to extensively interview your experts, getting specific action steps to use as the core of your product. And be brave when seeking out experts. You’re going to be amazed at the people who say yes. That said, not everyone will agree to being interviewed, and that’s okay. You don’t need everyone, you just need some.
Doctors, professors, PhDs, business people, authors and all kinds of experts will agree to being interviewed. After all, it’s extremely flattering, and some of them want the publicity, too. You can offer to share profits with your subject, or not. It’s up to you. Frankly, I think it’s a great idea to give them a percentage, or to offer to donate a percentage of profits to their favorite charity.
Hate Writing? Create an Audio or Video Course
There’s nothing that says you have to create a written product. In fact, some people prefer video or audio. So, if you love to talk about your subject, go ahead and make an outline, and then start recording yourself. Have the recordings transcribed and you can use the transcriptions as a bonus to your main product