Infinite Info Product Income
This year’s events have inspired more people than ever to seek out creative ways to earn more income. Whether it’s growing a side hustle, pivoting or expanding their existing business, or creating a business from scratch, online info products are a fantastic way to create a revenue stream, and do so without a lot of overhead costs.
Doesn’t matter if you’re online-only or brick and mortar, established or brand new – you have something to offer. For example, there’s something you do well that other people don’t do well, and would love to get better at. There’s something you know that can help people solve a problem, challenge, or pain in their lives. And if you sell physical products, you can offer digital products to improve your customers’ experience with your physical product(s).
You don’t have to know everything there is to know in order to have an info product. You just have to know more than someone else, and show them how to get a result they want.
“Anybody can build a business around any knowledge they have.” – James P. Friel
Outline of This Episode
- Who can make money with info products [4:01]
- What stops most people from having an info product [11:25]
- There’s never been a better time to create an info product [17:20]
- How to choose your product topic [21:15]
- Validating and launching your info product [29:30]
3 major points discussed
- Don’t get ahead of yourself. Trying to micromanage every step of your info product from idea conception to launch will send you straight into paralysis by overanalysis. Whether or not your product is created is irrelevant if you don’t even have your idea nailed down. The software you use to create your info product is irrelevant until you’ve actually created it. Focus your time and energy on the step you’re currently on. THEN figure out the next step.
- Even crazy ideas help with topic selection. Before you can launch, or even create an info product, you’ve got to choose a topic. That’s where a “Knowledge Inventory” comes in. James and Dean use and recommend this simple brainstorming method to help you see what you have to offer. While taking a Knowledge Inventory, it’s CRITICAL you do not judge your ideas. Even if the idea sounds iffy, or just plain nuts, write it down. Ideas lead to more ideas. The point of a Knowledge Inventory isn’t to come up with a million winners (because it only takes one). It’s to fully unleash your creativity and brainstorming, which won’t happen if you’re in judgment mode. If an idea pops into your head, write it down. Only once you’ve got that unedited list of ideas will you sort them based on factors like how much you know about them, whether there’s people looking to learn them, and whether those people will pay you for your knowledge.
- Think you’ve got a winner? Then it’s time to validate it. Is there demand? Is that demand coming from freebie seekers, or from people who’ll spend money to get what you’re offering? Is your idea developed enough to help people? Your product doesn’t need to be “as good as it’ll ever possibly be” straight out of the gate, but it does need to be developed enough to help people get a result. There are a ton of ways to validate your idea, and James and Dean will share the best ones with you in this episode.
Music for “Just The Tips” is titled, “Happy Happy Game Show” by Kevin MacLeod (http://incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License
