Fred Gleeck is an expert in creating passive income streams for himself and others… he’s been creating, marketing and selling information products (books, e-books, seminars, audio and video programmes and bootcamps) for over 20 years. He explains how you can create your own passive income stream… easily.
“Why should you create information products? Well, the margins are incredible compared with most other products or services. Information products allow you to create huge margins. What other business can you produce something for $5 (or even less) and sell it for $100 and have people begging you for more?
“If you have knowledge about a particular subject or the passion to research a topic, chances are that you can sell that knowledge and get paid handsomely for it. It virtually doesn’t matter what your field of expertise is. Someone out there will want to know more about it.
“To start, get going with an e-book. It’s the ultimate “quick and dirty” way to start selling information products. You don’t even have to write the e-book yourself. You can hire someone to do it for you. Remember, if the topic you sell the e-book about becomes a HIT, you’ll need to quickly start producing other information products to support the e-book. You’ll only want to do this if you plan on making money selling your information. Eventually, you’ll want to have a whole line of information products that include: e-books, physical books, audios, videos, seminars, workshops, bootcamps, software, teleseminars and everything else that your customers demand.”
It begins with a niche
“So here’s how you do it. Find a very specific niche. I don’t produce a product just because I like it. That’s not a good way to make money. You take a look at the market and ask yourself, “What do people want to know right now?” Then you match your product to meet that interest or need.
“I’ve created multiple niches. One of the reasons to create a tightly niched market is the ease of generating targeted traffic for low amounts of money. Once you’ve set up a product and a system, your whole role as a marketer is to drive traffic to your site.
“Don’t try and write for everyone. Find a niche and figure out what you know better than nearly everyone else. Find a way to create a line of products that are complementary to your initial product. In my case, my highest strand is coaching and consulting.
“When someone doesn’t know who you are, they are initially leery to spend big dollars with you but they won’t mind investing a little bit of money to buy your front end product. That first product might be a book or an e-book. And by the way, I am not a genius. To turn a book into an e-book, I just use a pdf version of my book. If my book is selling for $14.95, I’ll justify the e-book selling for $37 by adding lots of bonuses. That’s where you start.
“Once people get to know you and they like what you have to offer, they will trade themselves up to higher and higher point products.”
Strategies like that can explode your small business quickly, that’s why I’d suggest you go right now to http://www.freemarketingbook.org and request a copy of Jonathan Jay’s new book “Marketing Secrets of a Multi-Millionaire Entrepreneur”
Copyright SuccessTrack 2009
