I’m conducting my own myth-busters scenario and the myth I want to tackle today is that of info products leading to a lucrative future where you create the product once and then pull your chair up by the ocean and watch the dollars from your smart phone just rolling in…
People often approach me wanting to create an info product – be it writing a book or creating a series and they imagine that from creating this passive revenue source, people flock en masse to purchase forever and ever.
Insert reality check here! Unfortunately for most people, info products are NOT big money makers, if they in fact bring in any money at all.
If you find yourself being lured down the path of “I want to create an info product,” I want you to be very aware of some things
#1 What do your clients want and expect from you?
Let’s say you’re an implementer of some kind or you do web design or copywriting. Most of the time people want to hire you to perform your services or do this type of work for them. They may not want to purchase and read your book telling them how to do it themselves.
Be very aware of your market. I stress this because if you create an info product and your current market doesn’t want it- 1 of 2 things are going to happen. First, you will have to find a new market to sell your info product to, which could result in an entire business shift altogether. Or second, and a little harder to swallow, you’re going to have poured all your heart, soul, time and energy into creating something that no one is interested in – and that is not only very costly, but very disheartening.
#2 What do you want yourself?
If you do not like writing or do not enjoy teaching, you will have a hard time creating an info product. If you don’t love the idea of formulating your expertise and filling up the space of a book, an info product is not likely going to be for you.
If you don’t enjoy speaking and teaching, an info product, again, is not for you. Because once you create that info product, your job becomes a marketer and you’ll continually be speaking about and marketing that product over and over.
Keep in mind also that the fastest way to cash for your business is an active revenue stream. If you find your business in need of that quick injection of money, an info product is not the way to go If you’re toying with the idea of creating an info product, make sure you’re going into it with eyes wide open, realistic expectations, a passion for writing and teaching and accepting that it may not be the easy and fast cash crop you’re fantasizing about.
(Image courtesy of adamr / FreeDigitalPhotos.net.)