Believe it or not, finding a product to market is usually the least of your concerns. There are many ways to find a product. You can create your own information product, sell a service, or market other people's products for a commission. While providing a service for people is good, it is often the most time-consuming of the three. For example, if you write resumes for people you only get paid if you work. But if you sell an already-made product, such as an information product or an affiliate product, after you are set-up you can set your website on autopilot and make sales with little work on your part. Let me be very clear: You will have to work. You must maintain, at an absolute minimum, your advertising. If you do not, your lead generating machine will dry up. You may decide to write your own information products. This is not as difficult as it sounds. You know something about something: What do you do for a career? What hobbies do you have? What do you like reading about? Correlate these ideas together, and out comes an ebook, an autoresponder course, or a special report! Your product does not have to be long, especially if it is a specialized product. For example, a well-written 5 page how-to article on grooming your dog could sell for $15-$20 dollars. Think about it: People are looking for your information because they do not want to go to the groomer's (probably because they think it is overpriced). If they normally pay $40 per visit, and they visit once per month, they pay $480 yearly to the groomer. On the other hand, if they buy your information, even at $20, you will have saved them $460 (minus the cost of grooming equipment they will have to buy) and quite possibly gained a customer for life. You may choose, however, to market someone else's product. This is called "affiliate marketing," and is probably the most popular form of internet marketing. One caveat: Pick you product well, because some products, especially those sold by the "gurus," are in over-saturated markets. You could be innovative and combine the two (infoproduct and affiliate marketing). Take the example of the how-to article on bathing and grooming your dog. You have provided your customer with a very well-written explanation of how they can save money by grooming their dog at home. Even though they have saved money, they still need grooming tools and equipment. You could research the various grooming tools, looking for best price and best value, and add one or two pages to your booklet recommending these. Add value to your business by setting yourself up as an affiliate for those products, and recommend your affiliate link in your booklet. Then, when your customers click on the link to buy the grooming tools, you make a commission. Congratulations! You just experienced multiple streams of income, as you were paid twice: once on the purchase of your infoproduct, and again on the purchase of the grooming tools you affiliated for. This is how to parlay your experiences into multiple streams of income online. |
