Product Creation
This is another great passive income model that has a ton of potential. It does require more work than some of the other models but the rewards can certainly be worth it. The hardest thing about product creation is coming up with the ideas for new products. This isn’t difficult though as there are lots of websites that you can visit to see what is in demand.
You need to choose a good niche for product creation where money is being spent. If you are an expert or have a passion for one of these niches then all the better. Some examples of niches where money is being spent regularly are:
• Health and Fitness
• Make Money Online
• Dating and Relationships
• Self Help
If you are an expert in another niche then you need to assess whether there is a big enough market to sell your products. If you do a Google search and see a lot of ads on the right hand side for your niche then you are on to a winner. If not then it is best to go where the money is.
You do not have to be an expert in a niche to make good money from product creation. Plenty of people have proved this in the past. What you need to do is address a problem that a lot of people are having in the niche. An example of this is “traffic generation” in the make money online niche.
Once you have chosen your niche you can find forums where people will ask specific questions. Look out for the same question being repeated over and over again and not being satisfactorily answered. This is a good opportunity for you to create a product which solves the problem.
You can create a digital product to solve the problem. This can be a document in PDF format or a series of videos. Videos have a higher perceived value than PDF’s so you can charge more for your product.
There are a number of ways that you can sell your product once you have created it. If you have chosen the make money online niche then you can use the Warrior Forum and create a “Warrior Special Offer (WSO)”. Alternatively you can list your product on JVZoo, Warrior Plus or Clickbank. Why not create a WSO first and then list on another website?
The big advantage of launching an offer on a niche forum is that the traffic is already there. The second advantage is that you will get reviews from purchasers which you can use as testimonials.
If you are going to create your products yourself then you will need some tools. A word processor like Microsoft Word or the free Open Office Writer is essential. Both of these programs can be used to create final documents in PDF format.
If you are going to create videos then you need to consider if you will be appearing in them, whether you will use slides and narrate or whether there will be “over the shoulder” training. You will need a good screen capture program such as Camtasia or Cam Studio. A good video camera and microphone are also a good idea.
You can always outsource the creation of some or all of your products. There are some good ghostwriters out there that will create what you need. As for videos then it is recommended that you create your own.
After you have created your product you will need to create a website or a WSO and drive traffic to it. Having affiliates promote your product for you in return for a commission is a good idea.
Main Reason for Choosing Product Creation
You can generate good income quickly – once your product is ready you can list it on a forum marketplace and make some really good money fast. After this you can list it on a marketplace site such as Clickbank for future sales.
Biggest Drawback with Product Creation
It can be a lot of work – no one ever said that product creation was easy. But it can be very rewarding. If you are going to do everything yourself then it will take time to create your first product. This will get easier the more products that you create.
Money Addicts 