My "Secret" To Creating Profitable Information Products… REALLY FAST!

Yesterday, I held my monthly “mastermind meeting” in my office. As part of my Inner Circle – my members can spend an entire day in my office, and we dig really deep into your business. Yes, my “competitors” charge $10K-$15K per year for a few mastermind meetings (and no new content), but hey – don’t hate the player.

Anyway, onto my story.

One of the mastermind attendees already has a very successful tax and accounting business (close to $1 million in revenue). And now, he’s starting to promote a series of financial newsletters.

So as I dug into the business, it was clear he only had expensive newsletter subscriptions and no real “front end” product. So I gave some good ideas for products that can sell for $99 (a good front end price for his target market).

After a few minutes, I started to ask more questions as something didn’t feel right. He is a really smart guy and very successful. There had to be more to the story and he must have had products completed already he could make a front-end product.

Then I looked at his current sales letter “bonuses”. One of them was a DVD from an event he did. He told me how good it was and people paid up to $1,200 for that event.

THAT’S IT!

Why not just use that DVD as a great low-cost front end to bring buyers into your funnel?

And he also forgot to mention he had written not one – but TWO books as well!

But it’s a really common mistake. I can’t tell you how many people I’ve coached that ALWAYS look to start something brand new when they have so many resources at their disposal.

Stop wasting time trying to always create something new.

Here are a few simple ideas to get a product done quickly..

  • Look at past seminars you have done (recordings)
  • Previous telseminar recording
  • Previous webinars
  • Articles you have written (you can compile into a paid report)
  • Interviews you have done with other expert
  • Records of people who have interviewed you
  • Compilation of videos into a set
  • Resell rights you have already purchased
  • Works in the public domain

My point is to FIRST look at your current inventory. See what you have ALREADY DONE – and offer that material.

Get it done fast because money loves speed!

Comments? Questions?


17 thoughts on “My "Secret" To Creating Profitable Information Products… REALLY FAST!

  1. Great tips… I used a weekend seminar which I charged $197 per seat to attend to build out an entire six figure business within 90 days. The DVD’s from the event sold for $497. Then I turned each lesson on the DVD;s into a 6 month online training course for $97/month. Finally I boiled down the most important lessons into a front end ebook for $19.99

    The site was making me $7,000 per month before I sold it for $25,000 and I coulda got more, but I just wanted out of the business.

    P.S. These days I’m doing a lot of MP3 stuff since it’s such a portable medium for content. Lets you teach a great lesson really fast and downloads to just about anything.

  2. Great points, Ryan.

    Here are a few ideas that can help folks:

    1. Look over your blog posts from your several blogs (you DO write at more than one, right?) and see how you can combine several into a new eBook.

    2. Take some of the bonuses you gave away for the sale of one or more of your other products and combine them under and “umbrella” name so that each can be like a chapter of a book within this larger product.

    3. And talking about books: we often take chapters out of our #1 Amazon.com Best Selling Book and expand on what we wrote there and sell that as a new product. You know how it is – you needed the information within the book but didn’t want to spend TOO much time on that particular topic because it would take you away from the thesis of the book. Well… now it’s time to expand on it. (For example – we created the Universe Model of Social Media Marketing and use the Sun, Planets, and Stars to illustrate how people should set up their marketing. We’ve used this System in several of our products.)

    4. Outline the topics of what you want your new information product to cover, find online articles that are close to your topic, and give them as research materials to your writer. (You DO outsource some of your work to others, right?) Nothing is ever published with my name on it that I haven’t fully approved, but since it’s much easier to EDIT than it is to WRITE, get someone to help (and speed up the process).

    5. Create a new product in AUDIO, create a short VIDEO commercial for it, telling people why to read the TEXT as you market it. This then uses all three methods of communicating online and allows you to concentrate most of your time on the EASIEST and QUICKEST way to create new information.

    Thanks for sharing your ideas, Ryan.

    Charlie Seymour Jr
    http://CreateYourOwnLegendNow.com

  3. Crap, just go out and interview someone on a hot topic that would be a great lead in to your product.

    Or go to lunch, while you’re sitting there, create an outline and then when you get back to the office, hook up a mic and start talking.

    It ain’t rocket science.

    Product creation is easy. Selling the product, now that’s where the work comes in.

  4. If you can create a powerpoint, you can create a product. Then grab Snap! from Trivantis.com/snap for $99 and it will turn your powerpoint into an interactive training product. Nope, I don’t work for Trivantis and nope I don’t get a commission for telling you this. I only get the satisfaction of teaching you the methods I use to crank out new proudcts!

  5. Hey Ryan great topic!

    There is a lot of good info posted here…Really like yours and Charlie’s ideas…

    I have just finished my first 2 products…One is an ebook…The other is a nano continuity program…Any other tips for those of us just getting started that don’t have a lot of previous content to draw on???

    Keep the good ideas coming!

    Ted

  6. Justin – great points.

    I’ve turned ALL of my events into both big paydays (selling the recordings), as blog posts, front end products and even bonus products.

    Ryan

  7. Charles – more great ideas!

    I wanted this post to give people just a taste. I’ll get into more juicy details in future updates.

    Ryan

  8. David, as always, you are right on the money.

    People stress out about product CREATION. That really is the easy part. The effort comes in the day-to-day of MARKETING your product.

    The marketing and good old fashioned sweat-effort, is what separates the moderately successful people from the online ROCKSTARS!

    Ryan

  9. Colin – I’ve created dozens of products just using PowerPoint too.

    Powerful, yet so simple.

    And you can take those videos, and create transcripts, slide handouts and even mp3 files.

    Ryan

  10. Ted – as David Frey said, the fastest (and easiest) way to create content is to simply interview other people.

    Find the experts, record the interviews and you’re off to the races. I’ve been doing that for over a decade – and it still works :)

    Ryan

  11. Products will always be ‘in fashion’ or ‘in season’ and the fact is, nothing get more evergreen than information products

    I love them and create and offer them in every single niche I’m in from human potential to personal training marketing to offline marketing for consultants and business owners

    It’s the way to go (or keep going!)

    BAUO

  12. Products will always be ‘in fashion’ or ‘in season’ and the fact is, nothing get more evergreen than information products

    I love them and create and offer them in every single niche I’m in from human potential to personal training marketing to offline marketing for consultants and business owners

    It’s the way to go (or keep going!)

    BAYO

  13. I can remember back to always having this urge to start businesses and try to
    earn money on my own terms. You may be daunted by complicated search engine algorithms, but you
    can become a much mofe efficient searcher by learning
    which parameters these engines use. I like to let the doctor perform the
    surgeries if you will.

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