Step # 1: Identify your target market and topic
One of the biggest mistakes people make is creating a product first and then wondering who they will sell it to. Don’t do that. Before you create an information product, you need to pick a target market. Find out what your target market is already buying and find out how much they spend for different information products in different formats. Focus on their wants, not their needs. Unless you sell toilet paper, you will struggle to make money selling people what they need.
Step # 2: Pick a format
Once you have a target market picked out, pick a format for your product. I highly recommend audio. I recommend audio because most people can speak 200 words per minute. That means a 60 minute audio is about (60 x 200) 12,000 words. If you were to sit down and try to write 12,000 words, that would take a week or more (for most people). If you can create a 3-4 hour long audio program, that is nearly 36k to 48k words, enough words for a big book. If you don’t want to do audio, consider a DVD format instead.
Step # 3: Brainstorm titles
Once you have a format to work with, you need to spend some time coming up with a great title. You need a title BEFORE you create your product. Your title should discuss the key benefit of your product. You want it to be catchy and tell your target market what your product will do for them.
Step # 4: Create a sales letter
Once you have a format picked out and you have a title selected, you need to create your sales letter before you create your product. Don’t underestimate the importance of doing this before you create your information product. You want to write, edit, and finalize your sales letter before you create your product. Your sales letter will discuss the benefits and key features of your product. It must be well written and persuasive. You can add testimonials and graphics after your product is finished.
Step # 5: Set a deadline
Your next step is to set a deadline to create your new information product. Shorter deadlines are better. Give yourself no more than 7 days to create your product. If you drag it out, you’ll still be working on your product in a year from now.
Step # 6: Create your product
Now you’re ready to create your information product. Remember that good enough is good enough. If you are a perfectionist, you might struggle with this step. Create a quality product, but don’t worry about it being perfect. It never will be perfect. If you choose the audio program like I discussed, simply create a table of contents or make a list of questions and answer them on the audio program. For an hour long audio program, you need about 20 questions that take you three minutes each to answer. Create your product quickly and then spend a day or two editing it. If you need someone to help you edit it, pay them to do it and get it finished.
Step # 7: Market your product
The final and most important step in the process is to market your product. You must (1) create a written marketing plan to promote your product, (2) you must be willing to commit at least one year to actively market your product and (3) you must be willing to spend some of your money to market your product. You can’t just put it on your website and expect it to magically sell. If you aren’t willing to spend time and money marketing your product, do not create a product. Products don’t sell themselves, even if they are high quality.