Draw from your experience and knowledge to make money online.
Having information that other people want and can use gives you a virtual treasure that can flow from your experience and knowledge to your keyboard and on to your bank account. We’ve all seen the non-fiction books and information products that fill the shelves at bookstores but online they are especially popular and are filling the needs of millions around the world who are hungry for the advice and insight a little experience and knowledge can provide.
If you are a baby boomer, chances are you have and infinite amount of experience in a plethora of different subjects and areas. The fact that there are scores of people searching the internet to find information at any given moment, provides you an opportunity to share your knowledge and make a profit as well. By selling non-fiction information products and sharing your knowledge on a certain subject, you can build an entire line of products that target a single niche of consumers. Or, you can branch out and offer solutions in a multitude of niches to reach millions of people worldwide who need guidance.
As an online information product provider, you will enjoy keeping almost 100% of the profits for yourself. In the print publishing industry, the author only receives a small portion of the proceeds after agent and publishing house fees. Online is totally different, there’s no agent, you are the publisher, and there are very few expenses involved in setting up a website.
Typically, a non-fiction book at Barnes and Noble would cost the consumer an average of $9.95 to $39.95. When you sell information products ready for instant download on the internet, quite often depending on the subject matter and your audience, you can demand a higher price. I personally have purchase information products about internet marketing that cost as much as $1000. In smaller niches outside of the ‘make money’ niche, it will depend on your knowledge and the value of that knowledge. Some eBooks may only bring $4.95 while others may be worth as much a $500 or $1000.
Online digital products do not take up physical space or need to be purchased and shipped which aids in keeping overhead costs low. Even if you outsource the creation of your information product, you’re still able to recoup the investment after a short period of sales.
Why are consumers so hungry for online information products? In this age of rapid high-tech development your readers want information now, not the next business day. Your customer may be sitting in an airport, accessing your eBook from their laptop so they can read it on their flight. If their child is up sick crying from colic at 3:30 in the morning, a mom can’t drive to a bookstore to get a self-help book – but she can go online and download your eBook and put your advice into action within minutes.
Another reason information products are such an attractive purchase online is because they most often come with an ironclad money-back guarantee. This gives the consumer added assurance they are purchasing something they can use, and if not, they don’t have to worry about wasting their money.
If you are seeking a way to make money online, consider developing an information product that will fill a need in an area where you have knowledge and experience. There are many people seeking your knowledge and it could be a very profitable venture for you.
In my next post I will review an information product that will teach you to create information products. The item I will be reviewing is call Information Product Sweetie and was written by Alice Seba. Alice is a well known and respected author and trainer in the ‘work at home mom’ (WAHM) community. Her products are geared at teaching ‘work at home moms’ to run their own online business so they can stay home and care for their children. However, it’s my experience that her products cross-over to most anyone who wants to learn the topic.
Until next time…