Step by Step Guide

Remember that most of what you see on the list below can be outsourced to competent freelancers:

1) Research the market to ensure your idea is profitable. Your goal isn’t to find a market and give them a product that requires them to first be educated about why they need this product. That’s the long, hard and expensive way of making money. Instead, your goal is to choose a hungry niche… and then give them a product that they’re ALREADY buying.

2) Research the competition so you can develop a better product. Now, you don’t want to just give your market the exact same product as the competitors are delivering to the customers. You want to make your product unique – and you want to make it better. So your next step is to research the competitors’ products to discover how you can improve upon the products the market is already buying.

3) Create the product. Next, it’s time to take action. Shut the ringer off on your phones, lock the door, close your email… and start typing. Start with an outline and a goal to write XXX of words per day. Then keep typing until you finish your eBook – don’t worry about editing, because you can do that once the draft is finished. 

Quick Tip: If you don’t like to type, then try a voice-to-text product like Dragon Naturally Speaking. If creating the product doesn’t sound like something you want to do yourself, then outsource the task.  There are lots of companies you can use to  outsourcing anything you want.

4) Set up your website, including a lead-capture system. Next, you need to write a sales letter that sells your eBook and upload it to a web page. You’ll also want to set up a squeeze page with an autoresponder as a means to get your visitors to join your newsletter list. This is important, because most people won’t buy your eBook the first time they visit your site – the money is in your list!

5) Set up your back end sales system. Most people don’t get rich selling just one product. Instead, they find their wealth is hidden in the back end of their business – this is where existing customers buy more products and more expensive products from you. 

As such, even as you create your first product, you need to also be developing your back end sales system. You should set up various ways to contact and pitch additional products to your existing customers, such as by email, postal mail, membership site forums, blogs or even through links in the products they’ve already purchased.

And there you have it – the five-step path to riches.
It’s not a complicated process. Indeed, you can boil it down to a few words:

Find a hungry market and give them what they want.
So, that’s your first option.  Creating information products.

RECOMMENDED RESOURCE: 

Truth be told, you can make a lot of money online selling tiny, 7-15 page special reports.