Most people who hope to make money online while working from home start out with affiliate marketing, placing Google Adsense or other display ads on niche websites or selling services such as writing, graphic design or programming.
These can all be excellent methods for earning money. However, there is one method most beginners ignore which requires learning essentially the same skills but which can potentially be vastly more profitable and enjoyable – creating and selling information products.
Affiliate marketing (promoting other peoples’ products) can provide a good living, but you have no control over the product or the customer service or the price or whether the product even stays on the market.
Thus, you can expend enormous effort promoting a product, begin to rely on it as an income source and then have the author remove the product from the market leaving you high and dry.
Google Adsense can provide a decent income. You build a niche website, promote it and build up a steady stream of visitors who click on the advertisements. At the end of the next month Google pays you a substantial percentage of the price advertisers paid for the visitors they received from those clicks.
Many web publishers make six figure incomes from this type of advertising. Yet Google can change the rules with no notice whatsoever, or ban you from the program with little notice or explanation. Your income disappears in a cloud of smoke. In addition, when you build sites it may take months to get them up to speed earning money and you have to wait even longer to get paid.
Selling services is a great way to use your skills to make some quick cash. If you can write quickly, or you are good at graphic design, programming or even administrative duties such as accounting, word processing, creating spreadsheets etc., there are people who will pay you by the job to provide these services.
Yet you have to spend time marketing yourself in order to get the jobs and there is only so much work time in a day so your income is severely limited by time.
Most beginners don’t realise it but the skill set necessary for success in any of the previously mentioned areas is exactly the same as the skill set needed to become a successful marketing information products.
At one time, “information products” really meant “eBooks” or just plain “books”. However, today it can mean audio and video recordings, courses delivered over time and many other types and combinations of delivering information.
Once you have learned how to drive visitors to a website, you can just as easily sell them your own information product as get them to buy someone else’s or to click on an advertisement or to get them to purchase your services. With an information product, you only have to work to create the product once but you can sell it thousands of times over.
The hurdle that stops most beginners is the process of creating a product. This is much easier than you would imagine. If you pick a niche you already have knowledge in, all you need to do is survey the products already on the market, locate a problem that isn’t quite addressed well enough and write a short 10 to 15 page report with a detailed answer to that problem.
You don’t have to start out with a 500 page book. Offer your report for sale at a reasonable price, one which makes it an easy decision to buy, sign up for a free trial at eJunkie.com so that you can collect the money and deliver your report and you are now in the information marketing business. You can easily grow your business from there.
Sell more expensive products (your own or even as an affiliate) later to your customers and your income will grow from there. You will control your own business and you will get paid every time you make a sale.