The great thing about the internet is you can create one video or one report, put it online, and sell it over and over again. But the question is, how many products do you want to make to keep making money,
The answer is up to you. I find that if I really-really have to, I can make one new information product start to finish, including the website, membership site, sales letter, in about one week. When I first started I was not sure which of my ideas would sell the best, so every single week I made it a point to make a new information product, put it on the market and market it to make money. And then after a while I began developing larger and bigger and better information products.
When you’re leasing these products, you should ask yourself what makes you money based on what you’ve sold already. Should you create a new product or market an existing product, in which case it’s the best use of your time to either make something new or promote something that’s existing, and what are you doing every single day to build your list.
I think that you should get to the point where you can make at least a thousand dollars for every product that you create. This means that if you sell a product for ten dollars, you need to find a way to sell one hundred copies of that. That may mean that at first you have to partner with someone else who has an existing community, who has an existing list, but try to make at least $1,000 for every video or report you make, at least within the first month of launching it.
After you do this five, six or even ten times you’ll notice that some of your products sold quite well even in the thousands and thousands of dollars, and a few might have been duds, maybe those only made you a few hundred dollars, if anything at all.
Now you can figure out what the next product needs to be and if you’re time is better spent making something new or similar or the next logical step, or if you should just market your existing product.
Here is how money is made on the internet, you have products to sell and you have a list of email subscribers, and you bring traffic to your site. Now the thing is that making new products is one to make money but you’ll get tired very quickly. What you should also be on the lookout for is what do I have that is selling very-very well that my subscribers have not seen yet, or maybe some of my subscribers have seen them but not all the ones who would have eventually bought. And, it’s great to make money creating new products but it’s even better by doing less work, by getting more people to see your offer and not having to do all this work of creating videos, creating web pages – just get more people onto your list.
Now there’s a few great ways of getting people onto your list, including having an affiliate program, publishing articles, paying for ads on websites. But it’s great to make more money, it’s easy to make information products, but it’s even easier to get a lead traffic funnel coming to your business on automatic pilot and get people to see those new things you have for sale.
When you’re trying to decide how often to release information products look at what makes you money, can you market an existing product, and what are you doing every single day to build your email list of subscribers.