5. GO ONLINE

and do the same thing. Research your topic with as many key words as you can think of and note everything you find on your topic. After these two steps, you have the information to be a world-class expert on your topic. This can be done in 1 day.

6. MAKE AN OUTLINE

of your information product from all the information you found and group all your info into sections to make an outline. Make a list of all the benefits this information will give someone and group these benefits into logical sections or "chapters". Write down all the "proof" you find along with the benefits. By that I mean what 3rd party evidence, testimonials or other data that proves each item is true. You'll need this for your sales letter.

7. WRITE YOUR SALES LETTER OR AD

to sell the product. Do not create the product yet; write the letter to sell it first focusing on the benefits to the purchaser. If you don’t know how, either learn from all the books and courses available or find someone to do it for you for a piece of the profits.

8. TEST YOUR LETTER

you can use Google ad words and do it in a few hours or rent a email list of buyers or rent direct mail lists and send out your letter to at least 3 lists to see if it sells. If it does, great. Create the product. If not, return everyone’s money and try another product.

There are FTC rules about selling something you don’t have, but if you are just doing a test and refund 100% of whatever people paid, I wouldn’t think there would be complaints but be sure to check with your legal advisor first as I’m no lawyer.

9. REVISE YOUR OUTLINE

If it sells, or if you decide to do the product first, revise your outline to deliver on all the promises you made in your sales letter.

10. BREAK EACH CHAPTER DOWN INTO 4 - 5 SUBPOINTS

Then write 3 topics for each subpoint and then rephrase each of them as questions.

11. GET A DIGITAL RECORDER THAT CAN MAKE MP3 FILES

If you're creating an audio product have someone ask you all the questions along with any others than come up during the conversation. If you’re doing a printed product, ask the questions to yourself and answer them.

12. PICK AN ONLINE SERVICE TO TRANSCRIBE YOUR AUDIO

and have it transcribed. You can get this done for 1 to 1 ½ cents/word.

13. EDIT IT & YOU'RE DONE!

Consider selling several versions of your information. A printed report could be a $29 - $49 product and you could also offer a $199 or $249 audio version. I did exactly this with one of my products and included the transcript with the audio CD’s to add even more value.

The key point to all this is that you started by finding a proven market, picked a topic that is in demand in that market, researched all the available information on it, and finally prepared your information product from all this giving your customer something better than what’s available now.

I like this business because your cost of goods can be as low as 0% to 10% of your selling price. If delivered electronically, your cost of goods is 0. If sent by mail, costs are still very low.

If you get past the testing phase and have a winner, there are plenty of people who will finance the roll out for you. They will handle all the execution and fund the project as well. I can refer you to people to finance it for you once you get to that point.

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