Information Products are the ideal business to start if you are looking for an online business...They are easy to produce, simple to ship, and can enjoy high markups because people are not paying for the physical form the product is delivered in. They are paying for the valuable information contained within.

Although most people only see reports and books when we speak of information products, I want you to see just how versatile this market can be. You could produce software, videos, audios, newsletters, secret sites, and more. The only limitations in this business are the ones you create yourself.

You may say to me, "But Terry, I just don't know how to do anything that people want!" Well, I have a solution for that problem. If you have found a market that wants a product of a certain nature, contact an expert and do an interview with them...then sell that tape! (Most experts will do the tape with you right over the phone for just the cost of consulting - Usually $100 - $1000).

If you do have knowledge that people want (Which I highly expect is true even if you won't admit it to me)...then you can do your own audio tape course.

Below I am going to give you a quick 6 step system for creating your own tapes...and then we will do a short overview on how to contact an expert and get them to do a tape with you.

Step 1 - Make a list of your hobbies, interests, and problems which you can solve.

Do people come to you often and ask for your advice on certain things? If so...there is a product idea! Design a product that solves their problems. Find a Problem or a Desire people have that you have overcome, and then the system you followed is the basis for your product.

Do you train dogs? There's a product.

Do You Build Model Airplanes? There's a product.

Do You Save Money through Auctions? There's a product.

Did you figure out how to set up a web site? There's a product.

Do you Get Top 10 Rankings on Search Engines? There's a product.

Do you write killer sales letters? There's a product.

Product ideas are all around you...There are probably at least half a dozen products inside you waiting for the chance to come out!

Step 2 - Research Your Targeted Market to Find Out What they are Interested in.

If you plan to sell your product online, make sure there is a market for it first before you ever create the product. Visit forums and newsgroups using http://www.forumone.com and http://www.dejanews.com and do some research. Prepare a short Questionnaire and give something away free to people who answer it for you.

Corporations spend millions of dollars a year in research...but as a small home business you can do your research for free online through contacting and networking through newsgroups, forums, and mailing lists.

Step 3 - Purchase the necessary equipment.

You don't have to go to a studio to record your tape unless you have an unlimited budget. If you can afford a studio, it will produce a little better tape, but for most people starting out that is just another undue expense.

Go down to your local Radio Shack and purchase high quality audio tapes and a dynamic microphone. A good one will probably cost you between $40 and $100...Ask one of the sales representatives to recommend a good one. If you need an adapter for your tape recorder, get one of those as well.

If you don't own a double cassette deck, you will probably want to get one of those...Why? You can also dub your first couple of tape sales right there in your home and wait to send it out to a duplicator until you know for sure it is a real hot seller...

Notice that you don't need expensive equipment to get started in this business...although you may upgrade later as you go on.

Step 4 - Make An Outline.

When you did your research in step 2, what were your potential customers interested in most? Now, create a product that gives a step-by-step training on how to overcome that problem or achieve that objective.

Rack your brain and come up with steps that will take your customers to their desired solution. You have to make it simple. This is probably the most difficult part of your product...You have to boil down all of your research, your experience, and come up with a simple system people can follow to achieve their objective.

Step 5 - Record your tapes.

Now, shut off the phones...and set-up your little recording studio. Make a time on your schedule to do your tape or your series and stick to it...because you will probably want to procrastinate the process into oblivion.

Sit down and record under 60 minutes for the tape (Note most tapes actually have 62 - 64 minutes on them). You have to be careful to stop way before the end of the tape so that there is room to record an intro or a "Please turn the tape over" message.

Step 6 - Start Marketing today.

How much is your tape worth? You can sell an individual audio tape for $9.95 - $29.95 depending on the subject OR you can produce a series of tapes...I have seen these sell for as much as $495 if they were on the right topic. You really have to test your price.

Any secretarial service can transcribe your tapes for you if you want to produce a higher priced product out of them. You do a little bit of editing to them, combine your new manual to the tapes, and you have a higher valued product to sell.

How to Get an Expert to Do the Work For You!

If you just can't come up with an idea of a decent product for yourself, find an expert to do one for you...

You would still have to do Step One, Two, and Three yourself coming up with the product idea, researching, and purchasing the equipment. Note that when you purchase the equipment for this you may need to buy a microphone which hooks into your telephone (Ask the friendly sales people at Radio Shack and they will have just what you need).

Then, contact the right experts for the mission. Find people who are experts in the areas you want to present to your customers and send them a letter telling them exactly what you want to do...Most experts will agree to this if you approach them correctly.

Show them the benefits they get out of this...

1) You are doing the market research to find a hot product...

2) You are paying them their regular consulting rate for the tape..

3) You will prepare the questions for them to answer and give them ahead of time unless they already have something ready.

4) You will give them Full Reprint rights to the tape so both you and them can sell it.

5) They will be able to present other products and services they have for sale on the backend of the tape...

It is definitely a Win-Win situation. They get all of those benefits and you have a new product to sell in your business.

Not the Only Way - But It is a Good Start for You

This is not the only way to create information products by any means, but it is enough to get you started. Are you going to make some mistakes...YES....but you will have started in the right direction. If you follow this process, you will have your own hot product to sell online for years to come. All you have left to do is write the ad...but that is a subject for another day.