What is an info-product?
The simplest definition is an information product is any product that teaches something, or provides information.
That could include a book, audiotape, class, seminar, computer program, or report. Before the internet, information products were expensive to develop and extraordinarily difficult to distribute. Publishers, agents, engineers, classrooms, advertising all had to be taken into consideration.
The internet streamlines the process of distribution. Books and courses can now be downloaded immediately, without the costs of middlemen, production, and mailing. The upside is greater access to information to everybody. But because virtually anyone can create a product, the quality of all this information is less controlled. Caveat emptor. Thankfully, our discussion today is not about ethics or quality.
The goal here is to get you thinking about what you could create.
Online types of information you could develop and sell include:
?Electronic books or e-books
?An e-course—which consists of a series of email lessons people receive over a period of time
?Teleclasses or teleseminars—which are group seminars held over a telephone bridge line.
?Audio CDs, data CDs, or multi-CD programs of seminars or interviews you’ve given
?Special reports available for download from your website
?Combinations of the above
Why would you as a service professional want to create an information product?
First, to increase your credibility and establish your expertise.
A personal injury attorney fights an uphill battle to appear ethical. A complimentary report to all inquiries on how to identify if a case has merit would begin to establish the attorney as credible and competent. It might also shorten the lead and intake time, while providing a valuable service to the client.
I took a class years ago in basic auto mechanics, just to avoid getting scammed. The man who taught it had his own shop in auto maintenance. Who do you remains my mechanic 18 years later? By giving away “trade secrets,? Mike proved his trustworthiness to me.
And of course we know a published book immediately establishes its writer as an expert. The online equivalent, or e-book, is generally self-published, but still goes a long way toward enhancing expert status.
Second, an info-product can help you create multiple income streams. Because most of these can be downloaded any time of the day or night, without any input from you, you could literally make money while you sleep. It takes time to advertise and promote your products, so you may not want to quit your day job just yet. But the idea is that once you’ve got the product out there, 90% of your work is done.