Picture this: you’re standing in line at the grocery store and someone you haven’t seen in quite some time comes up to you. After the initial standard greeting, she asks you what you’re “doing” nowadays. “I’m teaching online classes to help others earn money from home,” you say.
“Interesting, but do you make any money doing it?”
“I do. I earn thousands per month.”
For the first time since you’ve known her, she has nothing to say; purely because she’s shocked at what you have just revealed.
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What’s an information product?
If you like the sound of thousands of dollars per month, then it’s time you created your own product based on skills you already have.
First, I’ll explain just what it is.
An information product is something you have written or recorded in order to teach or inform someone about a product or service. In the example above, the product is an online class which you recorded over the course of a week. It is broken up into shorter lessons so your students can work through the steps, absorb the information, and complete a short quiz at the end.
Perhaps it’s a course on creating infographics. You’ll walk students through the fundamentals of design, the purpose of an infographic, the steps to creating one for almost any industry, and the software best suited for their project.
You’ll either upload the class to a site which hosts your lessons and collects registration fees on your behalf or have it on your own website and collect the fees yourself.
No matter your choice, your goal is to produce a product that will help solve the problems others are having. In the example above, the students enrolling in your online class are in need of earning extra money. They are investing their hard-earned dollars to gain insight and find out how they can build a side income without having to quit their regular job. It is up to you to give them accurate information, examples of your own experiences, and even templates to make the process easier for them.
Not only does it help your students, but it also shows you’re an expert on the subject. When you create an information product, you’re not only helping yourself, you’re helping others. By leveraging the power of eBooks, video, audio, and online courses, you can get your knowledge in front of those who want to learn more.
It has been said if you write about love, money or food, you will always have an audience and will make money. They are the most popular topics out there. However, there are also hundreds of sub-topics you can focus on which fall under the three.
When it comes to love, you can entertain others by writing romance novels or educate them based on your life experiences and/or educational background on relationships.
Money is popular because people are always wanting to know how to make more of it without spending a lot to find out how. A word of advice here though: avoid MLM (multi-level marketing) schemes and give people tangible ways they can increase their bottom line. Also tell them right off the start it’s going to take time and effort on their part. Never promise riches because they will expect the money to fall from the sky without any effort from them.
And food. We all need to eat, so showing others how to make their favourite desserts while being health-conscious is only one way to attract readers/clients/customers.
Why do you need one?
If you have something valuable to teach others but don’t want to spend your days travelling all over, you need an information product. You’ll not only leverage your time better, but you’ll also have more free time. Isn’t that what you want anyway?
Many people will start a business because they want more time with their family, but often end up working twice as much as they did when they had a job. It doesn’t matter what they do, they just can’t seem to get ahead or be able to enjoy more vacation time.
Don’t let yourself get caught in that trap. Use your knowledge and resources to create a product which will help others. Digital downloads, video, and audio are your best options as the overhead is much less than if you were to ship physical products. Or if compiling books or workbooks, use a POD (print-on-demand) service so you don’t have to print and ship them yourself. Digital products also can be purchased by anyone in the world. You won’t be limited by demographics.
For example, perhaps you are a copywriter and don’t want to take on any more clients. Creating a product to teach others how to become a copywriter themselves will give you the extra income you want, yet not take up any more of your time. And don’t worry about losing clients; your existing clients will still want and need your services. You’re simply branching out to help others while not overextending yourself.
I have earned extra income for several years by crocheting and designing patterns. A few years ago, I decided to write a book to help others do the same. I even included the patterns they could use to get their crochet businesses going. And the cost of the book is far less than what I would have charged if I had held a class. Plus, each of those patterns is available individually, so purchasing the ebook is a win-win for anyone interested in earning money from crocheting.
If you would like more information on creating information products, you may download my free eBook here. It goes into much more detail than this post has.
Before I close I would like to say thank you for reading and following my blog. I also have a newsletter signup link in the sidebar, which will give you access to new products I’m creating as well as information tailored to those who would like to earn a little extra money from home. I look forward to sharing what I know on a weekly basis.
Stay safe and healthy,
Diane
Take on Life After 50 