Can you really earn a living creating and marketing ebooks, special reports, courses and other infoproducts? Rather than just try to convince you of that fact, I figured it's better to go one step further and show you exactly how it's done. Creating your own infoproducts, writing ebooks, building courses or membership sites are often the launch pad for becoming an information entrepreneur spinning off multiple streams of online income. Your number may not be $100,000, it may be lower or higher, the fact is there is a way to continue to turn your knowledge into more profits quickly. Here is an example of a typical infoproduct entrepreneur's progress toward $100,000. Step 1. The First eBook or Infoproduct You need to quickly launch your introductory ebook, video, audio or other information product and you need to find a way to sell it for $47-$97. For tips on how to increase the value and price of your information product - refer to the recent article called "5 Exceptional Bonuses That Will Increase Your Online Marketing Business Results" over at: http://www.highertrustmarketing.com/articles/5bonuses.html If you have selected your topic correctly - as outlined in my Ultimate Information Entreprenur's Success Package http://www.infoproductcreator.com , then you can expect to sell 30-60 copies per month. Let's say you sell just 50 copies per month at a price of $67 each -- 50 X $67 = $3350/month or $40,200/year Step 2. Teleseminar, Webinars or Interviews The trick to building on your momentum is to leverage the success of your first infoproduct by conducting a series of teleseminars, webinars or interviews. You want to produce at least 1 new audio/video product per month. There are many teleseminar or webinar services out there that allow you to control the entire session, and will ship you the audio file with transcripts following the session. You now have some additional income from the teleseminars and from the resulting products -- 12 Teleseminars X $555 (15 ppl X $37) = $6,660 80 Product Sales/month (4 New Products X 20 sales/month) X $67 = $5360/month or $32,160/year (only calculating 6-months of sales as it will take some time to build these products) Step 3. Related Affiliate Products While infopreneurs are product developers and marketers of their own products first, it certainly doesn't mean that you shouldn't build a list of subscribers and market affiliate products to your list. Based on personal experience, it is certainly possible, and quite easy to pull in an extra $500-$1,000/month with well positioned affiliate product promotions - even with a list as small as a couple thousand subscribers. Let's be conservative and assume you run two affiliate promotions per month each bringing in $400 -- 24 Affiliate Promotions X $400 = $9,600/year Step 4. Show People The Solution - Videos Technology has advanced to the point where you can easily produce very high quality videos from your own home office. These videos can be tutorials showing screen shots, interviews with experts or a combination of camcorder shots with screen shots. Now, there is tremendous money to be made in developing multimedia based products - however we will be very conservative with our estimates here, we'll assume you develop this product 6-months into your business and that it will be a $47 DVD (in reality they can often be priced much higher - depending on the topic and uniqueness of content) -- 25 sales X $47 = $1175/month or $7050/6months Step 5. Offer Services If you have selected your market carefully, tapped into a wave of demand and offered a unique solution or system to solve a particular problem - then people will come to you looking for help beyond your product. Offering consulting, coaching, mentoring, implementation or other services may not be your first goal, but the requests will come and you may as well prepare by pricing and marketing your services in advance. To this day, I still fight most consulting engagements - I simply love creating products too much. But offering consulting or other services does bump up your monthly income and is a great way to stay in touch with your market - first hand. Typical consulting rates range from $150-$300/hour. For this example, I'll assume minimal consulting at just 10-hours per month and assume your first consulting income will not be generated for the first 6-months as you build your customers and reputation. 10hours/month X $150/hour = $1,500/month or $9,000/6months THE GRAND TOTAL So far we have the following: $40,200 from main product
$6,660 paid teleseminars
$32,160 additional products from recording teleseminars
$9,600 from related affiliate products
$7,050 from video/multimedia products
$9,000 from consulting and services TOTAL $104,670 What I have outlined here is a completely reasonable, and in many cases, very conservative estimate of what you can do in your first year of becoming an infopreneur. It's the model I followed, as have most other online marketing success stories. While the split of numbers may look different, the categories are pretty consistent. Most important is that you select a target market and niche demand that is red-hot, in-demand and that people have proven the propensity to spend. From there, you will find that blowing the estimates used above out of the water is a very realistic possibility. |
