When you are a beginner, sometimes you need some step-by-step instructions and online business help to guide you in following a path to success – whatever that success looks like to you. If you are a directions driven person, you like to see a set of instructions you can follow. Why? Because you either have too many internet business ideas or none at all. Or, you are just plain confused. Plus, a instructions take the thinking out of the equation so that you can focus on making some real money online.
What is the Information Product Business Model?
The Infoproduct business is based on selling education and it’s a multibillion dollar industry. If you like to teach or are willing to teach people how to do something, then the Information Business Model might be a good fit.
An infopreneur is a person who produces and sells content primarily in digital form. Some of the most popular infoprenuers online are Marie Forleo who grew her multimillion dollar business working from home by offering high quality You Tube videos on business and personal development; Eban Pagan who began his multimillion information-based product empire by offering ebooks on dating and now teaches business related topics; and, Rich Schefren who’s multimillion online coaching program helps online entrepreneurs make more money while working less.
Not interested in catering to the business info product market? Take a look at the Food Babe who started a small blog in 2011 centered around healthy eating and has seen immense growth in uncovering and sharing the toxic ingredients that some of our favorite companies use to process our foods. She’s been featured on many big time television shows. And oh yes, she also offers information products such as ebooks, guides and memberships.
The type of information that can be packaged and sold are endless. Don’t be fooled by the percieved high caliber that is presented in many of the websites I just described above. It’s very easy to put up a nice looking website these days using WordPress. And in terms of putting together a digital product, all you need is a computer and some type of application such as Microsoft Word or a free alternative like Google Docs and a Paypal account.
The Best Part Of the Info Product Model
One of the great things about selling information products is that you do the work once and you keep getting paid over and over. Ultimately, it gives you the best return on your investment. Do you remember what it was like to write school papers or prepare powerpoint presentations for work or school? Revisit those days. The only difference is that you will be packaging (preferably) your own expertise – although you can do extensive research on a any subject that has a hungry crowd.
To add more value to your information product, just add a some videos or audio. You can make something as simple as a report or something more complex like a subscription based program where people will pay you a monthly fee in exchange for access to a member’s area where they’ll have access to exclusive resources from month to month.
Here’s another example…
Take a look at Lynda.com where you can pay a monthly fee to have access to an entire library of video courses in a wide variety of subjects. And yes, it does seem very polished and expensive at a glance but you actually don’t need a whole lot of money to start this type of online business. In fact, if you are well versed in technology or have the knack for it, you can set it all up with just under $200 or even less.
How to Begin Implementing Your Info-Product Online Business Idea
When I was researching online business learning programs, I spent upwards of 15K finding that next step. It was so difficult to find a program that was comprehensive enough to give me the overview on how an info product business worked. I had high hopes and dreams of packaging up some digital programs and selling them online but I didn’t really understand the process. Can you relate?
Information product creation is centered around your ability to create content. For some people is quite a chore but if you love to learn, you will quite enjoy the process. You just have to find a format that works best for you in a way in which content creation is simple and enjoyable. I mentioned a bit about reminiscing over your school papers. I know it may not necessarily bring up the best struggle free memories but find an angle that makes things more fluid. It doesn’t have to be that complicated. If you tend to be a bit more anxious (like me) and become somewhat overwhelmed at the idea but you are really loving the idea of becoming an infopreneur, keep the following in mind to give yourself some structure:
- Once you do your research on what product you are going to put together, whip up an outline with the main points. This will be your GPS and it will allow you to just fill in the blanks. It will also help yo become less overwhelmed when you are hitting roadblocks and experiencing brain fogs. Plus, it helps keep things flowing and procrastination at bay.
- Decide on packaging information that is centered on your expertise and personal stories. It keeps the creation process interesting, focused and easy. The more research you have to do, the longer your product will take to create. Plus, personal stories allow for an opportunity for your customers to connect with you on a different a more personal level – which may propel them to make even more purchases from you in the future.
- While you are making the final edits, have a few of your friends or family members review it. Get a sense for how it is absorbed to see if it actually delivers what’s promised. Also, read it aloud. Sometimes, reviewing the product in your head will keep you from picking up typos and grammatical errors as your brain already knows what the information is supposed to present.
Step-by-step, Work at Home Business Online Plan
Here is what you’ll have to think about for now:
- Define what you are interested in. You’ll have to pick a central theme and narrow it down and focus on where you will become the “go to” person in that industry for a specific topic. This is called a niche. You will become a specialist which will allow you to pick up momentum as you gain fans that will beg for your time. Think Tony Robbins. People pay thousands of dollars for his knowledge both live, in books and digital programs.
- Research names for your website and business. Back in the day, when the search engines (like Google and Bing) where just evolving, you could pick a name that was a keyword phrase people were searching for and boom, you’d be listed in the #1 position on Google. Nowadays that doesn’t count as search engines have become smarter. So go ahead and pick some creative, short, memorable and easy to spell. Got to go daddy and type in any name in the search box to see if its’ available and for what price. This will get your creative juices flowing.
- Plan your website setup. This is simple to do with all of today’s technological advances. There are many user friendly programs that will help you easily set up your own website, even if you are not technologically inclined. However, I recommend you use WordPress. It is the most comprehensive around and it is widely used by many big time companies like Best Buy and Time Inc., although I’m not going to lie, there is a learning curve to it. For some excellent You Tube tutorials, you can go to WordPress Beginner. Once you are proficient enough, you’ll learn how to create a sales page.
- Find your website hosting and launch your website. Once you decide on the platform for setting up your web business (WordPress perhaps) and you’ve found a domain, you’ll have to think about web hosting. This is similar to having to pay rent for space on interent. You’ll have to pay this on a monthly, quarterly or yearly basis. But don’t panic, it’s not expesive. If you go with Hostgator you can start with a small package that can cost you as little as $3.96 a month. But do your research. I recommend Hostgator to start. When you grow and are making significant money, I recommend you switch to LiquidWeb. If you need help launching your website, MomWebs is a great option (You don’t have to be a woman or a mom to qualify).
- Start Filling Up. Plan your content strategy for your website and start publishing articles or blog posts.
- Set up and Start building a subscriber list. Once you have all of that ironed out, you’ll want to have a section or several sections on your website where people will send you their emails. You’ll need to build this email list as tyou go along because these people already took the first step in wanting to know more about what you got. Once you have something for sale, they’ll be more likely to buy because they’ve been getting to know you and have developed some trust (if you earned it of course). You’ll want to keep the visitors that go to your side updated and allow them to feel like they can connect with you. This is called email marketing. It’s on of the most effective ways of making sales if you use it the right way. The program I use to capture these emails and send mass emails is Aweber.
- Sell affiliate products and start thinking about creating your own product to sell. You may not need you need to look into this right away, especially if you are starting very small, but at some point you’ll start creating your own product. You’ll need to figure out how you want to process payments. There are many ways to do this. You can either place a Paypal button, set up your own shopping cart with companies like E-junkie or 1Shopping Cart or process through third party companies like Clickbank, Gumroad or many other available options.
- Set up your processing system. Once you know how to process payments, then you’ll have to set a system for delivering your digital products. You’ll have to learn how to upload your product into the system of choice so that your customer can download it from their end once they make the purchase. Research the shopping system for reliabilty because it will set the tone for your customers shopping experience.
- Price it right and brand it. You’ll want to figure out your pricing and sales funnel offerings so that you can make those customers repeat customers and find new customers. You’ll want to stay up do date with the trends and changes online and stay on top of what your competitors are doing. Keep your eyes peeled for how big companies keep re-inventing themselves. You’ll learn a lot that will help you run your small business online.
- Create a sales page. Once your landing page (sales page) is up, you’ll send web visitors to it. The sales page has to be very enticing and really get in the heads of people so if you are good with psychology, this is the time to use it. This is called copywriting and it’s a skill you develop over time as you begin to test what you’ve written and tweak it if necessary. Here is an example of a very basic sales page from my business coach, Little Monthly Payments. For something more elaborate and detailed, take a look at Wealthy Affiliate. Both of these are affiliate programs I frequently recommend on this site.
- Send your fans and test. Once you establish your expertise, package up some products, present them to the people who follow you and are subscribed to your website or blog. Those will be the people who will tell you what they like or dislike about your product and you can make tweaks accordingly. When you hit the core of your fans desires they will recommend you intently to their friends, on social media and other outlets. Before you know it, you’ll start building your own empire.
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