How to create your own product 1 – Research and scheme

MODULE 1

CHAPTER 11

HOW TO CREATE YOUR OWN PRODUCT 1

– INVESTIGATION AND SCHEME

1.0 INTRODUCTION

2.0 OBJECTIVES

3.0 MAIN CONTENT

3.1 Start with product information

3.2 The pros

Leverage
Global market
Unlocking the power of global alliances
Better prepared for success in a global dimension
You become a highly marketable expert
Solid resources for premium sales
Extraordinary residual income
High return on investment
3.3 The cons

3.3.1 The learning curve

3.4 A wonderful start

3.5 Remember, ‘Everything is a remix’

3.6.0 How to decide the type of product you want to create

3.6.1 Meeting specific needs

Survey your audience
Search the Internet for comments and blog forums in your niche
Read between lines
Show your experience
3.7.0 Start with your most convenient method
Audio
ebook
Video
3.8 Product forms
3.9.0 The process

3.9.1 Do your market research

3.9.2 Provision of marketable information

Private resale rights
Interview with experts
Compile popular questions and give answers
Thefts allowed
Record other people’s webinar and reuse
Set up webinars and teleseminar
Screenshot your skills using your computer
Adapt a successful eBook to another language
3.10.0 The law and the art of creating your own product
3.10.1 Write the outline of your product

Write the full eBook
Convert it to PDF
Make your eBook beautiful
3.11 Write Email Hits
3.12 Create and configure the sales letter

4.0 CONCLUSION

5.0 SUMMARY

6.0 ASSIGNMENT

1.0 INTRODUCTION

Creating your own product for sale in your market is by far a better idea, but it does have some advantages and disadvantages.

2.0 OBJECTIVES

To give details, the procedures involve the creation of information products.
Provide resourceful links to make this possible.
To encourage students to use this course to plan and create their first informational product

3.0 MAIN COURSE
When you are about to start an Internet Marketing business, two things will easily occur to you.

The two things are:

you are going to sell your own products and provide services directly from your own hosted website
or sell someone else’s products and services?
In other words, what are you going to sell to your customers?
3.1 Start with product information

Let me assume that your answer is that you want to sell your own information products. You may not want to start with a service like web hosting or website design service as you may not be a technical person (aka Techie).

Hopefully, you’ll get to that point someday, if that’s what you want. But for now it’s a good show of wisdom to offer an information product for obvious reasons – it’s an easier, faster, and highly profitable approach for online businesses.

Creating your own product for sale in your market is by far a better idea, but it has some advantages and disadvantages:

3.2.0 The Pros

Leverage
The Internet offers the best leverage for any business that has ever existed in industrial history to date.
If you haven’t done this before, hurry up, find and read Robert Kiyosaki’s book ‘Gather Young, Retire Rich,’ and you’ll understand the above statement better.

This simply means more leverage, more profit in a shorter period for your business.

Global market
Even having a digital product to sell to everyone is more than enough to get it out of the woods, that is, if you know what to do.
In fact, it is knowing the process that really matters in this business, and that is what you must pay close attention to learn in these formative years in this business.

After that, the rest is history, and it is you who is going to create or, rather, recreate that history of your life.

Unlocking the power of global alliances
Through affiliates who offer their lists and experience to serve you in marketing your products for free.
Better prepared for success in a global dimension
Speaking of the skills and experience you gain in the process, you are among the best, on a global scale, not just a local champion and not just for a time, but for a wasted period of any foreseeable future. Can you beat that?
You become a highly marketable expert
Now you can build more and more products faster after the initial experience. You can do it for yourself and for others if you wish.
Solid resources for premium sales
Your initial product can easily be converted into other forms of sales at higher prices: audio, e-book, membership site, etc.
Extraordinary residual income
You only need to create it once and sell it again and again, with few and rare revisions when necessary to keep up with technological development in the market.
High return on investment
Such a thing that was never known in any other industry. Most of the time, when done correctly, it generally consistently generates more than 100% return on investment (ROI).
A digital product owner can enjoy many other benefits, but let us break it down here so we can focus on other related topics.

3.3.0 Cons

3.3.1 The learning curve

This will cost you a little more in terms of time and money.

But it is doable.

3.4 A wonderful start

If you’re a professional or have a high-demand skill set, you can easily get started by selling some helpful tips on that online.

For example, it can be Tailor, Seamstress, Organist, Professor, Nurse, Doctor, Engineer, Accountant, etc. Do market research on aspects of your profession where people are looking for more information with the tools we discussed in Chapters 2 and 3 of this course.

Use those results of your market research to build your own product, as we will discuss in this and the next chapter.

A teacher may, for example, decide to own a website and teach everything rather than just to their class members. Look in the direction of any of the following courses that are already in high demand worldwide:

 

Beauty tips,

Language lessons: French, German, Russian, Chinese, and even English.

Remember, our world has become a global village, therefore there is a great demand for these lessons worldwide.

A nurse can teach health with special biases about natural remedies. Most of the ailments that have become anathema in western (orthodox) medicine have been resolved with the help of these natural remedies. Therefore, information on natural cures for cancer, diabetes, arthritis, etc., is selling like a hot cake online now.

We’ve noticed somewhere that when it comes to information marketing, the top three areas are Health and Beauty, Love and Relationship, and How to Make Money.

But this does not mean that the information is not sold in other areas, or that people do not make a living online by selling other products outside of the big three. For example, an engineer may turn to technical writing. People who aren’t even engineers are doing well in technical writing.

In your own country, what are the current challenges for people? Remember that your information product is not intended for you, but to help the people who buy it solve their immediate problems.

Some people in their country want to travel abroad, learn to bake, get education abroad, grow rice, import, export cassava and garlic, learn computer programming, web design, SEO, decoration, etc., etc.

Keep in mind that to minimize delay and confusion of which product to sell, you must first decide whether you want to start selling in the local or foreign market.

There is a whole world of differences in both markets.

Again, you don’t have to be an expert.

Just find out what people want and gather information that satisfies that specific desire and give it to them at a profit.

3.5 Remember, ‘Everything is a remix’

Search “Everything is a remix on Google” on Google and watch the video online.

Also remember what Steve Jobs said:

‘Good copy of artists, great artist steal. We have always been shameless for stealing great ideas’ – Steve Jobs, 1994.

This boils down to: creativity + innovation (s) = invention (s).

Again, let’s look at it this way, the foundation of the modern information and communication industry began with the invention of:

Phone then

Radio then

Telegram (telegraph), then,

Black and white television, then,

Colored television, then,

Satellite television, then,

Mobile phone, then,

Mobile satellite television (on mobile phones and PCs), then,

Private and public mobile satellite video (TV) channel, p. Eg Youtube

Private and public mobile satellite radio channel (on mobile phones and PC), then,

And so on … more abound than I haven’t mentioned here, and many more to come.

It is not about the order of which came first, I leave it to the students of history and philosophy of science, but my concerns are:

the connectivity of the basic idea * + the main main idea **,

the creativity,

innovation and

the “invention mix” (as in the “market mix”).

And it all started with GRAHAM BELL’s phone.

In fact, if you browse the Internet, you will discover that it was not Graham Bell who originally invented the phone, but that the court, the United States, and history in general attributed it to its name due to the wise and skillful innovations it added. The original patent that made it commercially viable to date!

(* the basic idea or general idea here refers to communication by ancient, habitual and natural means.

** while the new main idea here refers to communication by new means, that is, the newly discovered means or to be discovered, in the case of telephone communication by means of electric cables).

That’s what I called ‘stealing wisely’ in Chapter 9 of this course:

Nowadays, the 21st century, you don’t even need to steal, just ask the experts for a sample or a complementary copy and they will be happily oblique.

So don’t be afraid to give old information a new dress, shape, or form. It could be very useful or at least for the rest of the people.

No, just go and take a look at the markets, categories, niches and sub-niches and you will discover profitable niches to play.

Sites like Nairaland, Hot Spot, ClickBank or JVZoo are good places to start.

3.6.0 How to decide the type of product you want to create

Please note what I mean now.

It is what makes the difference between a successful business and one that is struggling. It also applies to offline business, not just internet marketing.

Don’t sell what people are not looking for. Find out what they are looking to use and solve their problems and search or create the information products for them and they will happily and repeatedly give you their money in exchange for the solution to their problem.

Another way of saying this is:

People generally want to buy a solution to their problems. They have pain that they want to alleviate, they have a sore or painful area in their life that they want to resolve as soon as possible, or they have a level of pleasure that they want to enjoy. That is why they go online to find solutions.

Therefore, your product should be a solution for your sore or painful areas of your life, or it should provide the pleasure you need. You must alleviate specific pain or give them a specific pleasure that they were looking for.

That and that alone is what will match them to your mass website in your product search. To the extent that you resolve the pain or provide the necessary pleasure, you will be happily and repeatedly paid for it.

But, there is still another way to say this: “In online business, first find out what people want to buy, then find (or create) the product and sell it for a profit.”

In practice, this applies in reverse order to offline business: where people first find or create the product before searching for a market to sell.

Therefore, this small difference is what makes online business highly profitable compared to its offline counterparts.

By the time the process of getting your information product is done, the market is ready, willing, and even eager to buy it.

3.6.1 Meeting specific needs

You can be sure that your product will meet specific needs and generate high returns by doing the following:

Survey your audience
This is possible if you have an existing blog or email list. If not, don’t worry, there are many other ways to do it, as we will see below.
In your blog post or email comments, ask them what type of product they would like to have, the format and topics they would like to cover. Find time to interact with your blog readers or your list members. It can be very rewarding.

Search the Internet for comments and blog forums in your niche
Many people go online to talk about their problems and concerns. If there are many people talking about a certain topic in a forum or blog, this means that the products that solve that problem will sell well. Some blogs and forums require signed membership for this very reason, so don’t be afraid to sign up. Don’t ignore social media in the process: Facebook, Twitter, Instagram, YouTube, Google Hangout, etc.
Read between lines
This is an advanced tactic. If you are already selling affiliate products online successfully, be careful about the kind of products that people buy regularly and create similar products in the market. Will be sold as a forest fire.
Remember, everything is a remix!

Not only in this business but in all aspects of life, everything is a remix.

You can also browse his blog for the most read articles and then create related products for sale. Then just add your links to those popular products and you’re good to go.

Show your experience
I have already discussed this in the previous paragraphs. As a professional, if you have a wealth of in-demand experience (for example, a beautician, physical therapist, naturalist, etc.), you can do market research to find out how people like you are selling yours online and follow their lead.
To avoid creating a product that does not generate money for your effort and investment, follow these steps one by one and you will find among them one, two or more that you can follow depending on your level of experience.

Go back and follow the steps above one after another to come up with a marketable and profitable product.

3.7.0 Start with your most convenient method

Audio: You can read or dictate or speak what you intend to write into a standby microphone in a quiet environment where there is no background noise. In the end, what you have is an audio product that you can sell anywhere in the world.
Audacity is one of the best tools to do this, Google for: audacityteam.
eBook: Later, by copying the content of your audio product into a computer software like the word Microsoft (Open Office, it is FREE software, just browse and get on the net) it will create an eBook for you.
To sell it online, all you need to do is convert it to a portable document file (PDF) and it becomes a scalable product. More on this in a little while.
Video: In most parts of the world, people playing music for the first time generally CD and later a Video CD and progress to other formats including FLAC, MP3, WMA, WAV, etc. or vice versa.

Did you ever ask why?
Convenience, cost and preferences.

Camtasia Studio is one of the best industry standards for online video today. But you can even start with your smartphone and upload the videos to YouTube and it will be ok while you earn money to buy an expensive camera or learn how to use online software like Camtasia.

3.8 Other forms of products

In the final analysis, your product must take so many forms that you can sell it to so many markets in response to market preferences.

Such forms include:

Audio training

Video series

Questions and answers

Membership site with new content added monthly

eBooks

Coaching supported by phone calls,

Emails,

Skype

Webinar,

Short reports,

Assignments,

Templates,

Continuity programs: weekly, biweekly, monthly, quarterly, bi-monthly, etc.

Workbooks,

Pass the files, and so on.

Suppose you want to start creating your own digital product now, how do you start?

3.9.0 The process

Below is an example of the steps to follow in the process of creating information products:

3.9.1 Do your market research

Google Keyword Planner, Market Samurai and Longtail Pro, Nichebot are the best tools on the market for this task. I have already discussed in one of these courses how to use at least one of them. You can Google for others.

3.9.2 Provision of marketable information

To make product creation that much easier for most Green Horns and even experienced business executives, there are ethical ways you can get information to make your new products.

Such forms include, but are not limited to:

Private resale rights

Just type that in your browser and you will find multiple sites to choose from. Usually he buys them and rewrites them as his own product and adds his own angle to the product. Remember that this product is sold to many people and not just to you, so try to polish it to make it unique. If you are using free products for this, always try to check the rights, to avoid legal trouble in the future.
Interview with experts
Find and interview experts in your field. Then you can use the transcription services in Fiverr, Upwork, etc. to write them the way you want.
Compile popular questions and give answers
You can do it yourself, even as a novice in your niche. You can also use freelancers at: Peopleperhour, 99designs, Craiglist, Toptal, etc.
Thefts allowed
Go to EzineArticles.com and search for your popular categories. Download over 50 articles in your chosen niche topic and compile them into an ebook. You can quote them to pieces and bring the book to life with some videos from Vimeo or YouTube.
This is legal as long as you keep the authors’ resource tables intact. Remember to insert a link to your site when introducing the topic, convert it to PDF, and sell.

Record other people’s webinar and reuse
You can help a friend record their seminar with the agreement that they will also use it to promote their own products. Your phone or camera can do the cheap job for you, without the need for a professional cameraman.
Set up webinars and teleseminar
You need some experience and confidence to do this, although it is not difficult. You can skip this until you have enough money to hire experts to help you through the process. There are free and paid services to choose from.
The free ones are: Google hangout, zoom, bigbluebutton, join.me, meetingburner, mikogo, zohomeeting, webhurdle.

Anymeeting and gotomeeting are paid services, but they also have free trials for new customers.

Screenshot your skills using your computer
If you want to teach your skills to the online audience, this is the preferred approach.
There is a free tool you can use for this: screencast-o-matic

Adapt a successful eBook to another language
China is now a global destination for world trade. Find a book, get the right and adapt it to Chinese and it will sell like a hot cake. You can also do this with other books and other languages.
This is called a transcription service.

3.10.0 The law and the art of creating your own product

3.10.1 Write the outline of your product

Start with the main topics you would discuss in your ebook, then write the points under each topic. As you complete simple explanations between the main themes, they will later become chapters, while bullets will become sections and subsections of the book.

3.10.2 Write the entire eBook

After the first draft or manuscript as some would like to call it, review the product again with the goal of crossing the shirts and splashing down the aisle. Also read the entire plot in order to ensure mechanical precision and some consistency in the points presented.

Some people may differ on this by saying that you shouldn’t aim for perfection, there really isn’t a perfect product on the market as the internet world is always changing at a very fast rate.

But I am not advocating perfection here, but I want to clarify the fact that there is always increasing competition in the market and that the majority of victims are bad and unduly rushed products.

If you find it more convenient to start with the Audio format, you can also use this software to receive Audio and eBook copies online at the same time at:

dragon voice recognition software

3.10.3 Convert it to PDF

From your Microsoft word (Microsoft Open Office), you can easily convert your eBook to PDF format. PDF is globally available software that can be used on all types of computers.

It is recommended to do so, as you will send your eBook to different people in different parts of the world. Different people in different environments are geared towards different programs, so it’s nice to have your eBook in a generally acceptable format that meets these global markets.

From now on, think and see your business as a global company.

3.10.4 Make your ebook beautiful

It is more than common sense to note here that if you add an attractive e-book cover to your product, it will attract more sales than if you sold it as an ordinary PDF.

Period.

If you don’t know how to do it yourself, hire the services of online experts at ebookbaby, myecovermaker, or even Fiverr.

3.11 Write Email Hits

Email glides will be part of your marketing materials.

View yourself now as a Provider on one or more of the Affiliate Program sites like ClickBank or the Affiliate network like Commission Junction.

Email scrolls are follow-up emails that you and your Affiliates will use to track your prospects. It is known that most people will not buy from you until you have been in contact with them about seven times. Go ahead and write them down now.

3.12 Create and configure the sales letter

A sales letter is your secret sales machine and tireless salesperson.

This will be the page that you will show your prospects who sign up in response to your ads. It provides in detail the benefits of your product, why you should buy now, how much you should pay on which account.

Make sure your sales letter is professionally written. A good combination of text and graphics is recommended.

But if you’re scared, you can get a virtual assistant at Fiverr to handle this on your behalf.

3.13 Set up everything and prepare for sales

At this point, you must have set up a self-hosted website for this product. There is FREE and reliable software as well as paid once for this depending on your budget.

Just upload everything – email, sales letter, all relevant graphics and files on the website.

Remember to go through the entire testing process yourself, as well as asking your friends or mentors to help you conduct the testing, too, before you start advertising your business to the public.

3.14 Profits are on the links

I want to end this chapter by emphasizing the fact that we are living in the LINK ECONOMY. In other words, the profits from this business flow through the links.

This means checking all of your links to make sure they all work well. Use the affiliate link where appropriate, confirm your right to use free online source products to avoid legal hassle, and most of all make sure your own product download link works as intended.

That is the deal.

4.0 CONCLUSION

I just noticed that I have gone so far, many pages, many sections and subsections.

This is because when you have your own product, that’s where the wealth of the Internet you’ve been listening to comes from.

5.0 SUMMARY

I covered step by step details on how to create your own profitable product for the market. But there are still other details that I have left out for the next chapter.

6.0 ASSIGNMENT

Review this chapter over and over again to get a good understanding of the process, as I will deal with another aspect of these quick riches in the next chapter.

David Udofort has been doing business on the Internet for over 10 years. He wants to share his experience and possibly help you on your way to online business success. That is why this course is offered free of charge. You can check out one of his blogs here for useful online businesses

62 Views

Leave a Reply

Your email address will not be published. Required fields are marked *