First Things First – Create Your Own Product
Piece of my History
I blog since 2006. I started using blogspot.com. Somewhere in late 2007, I started blogging using wordpress.org. I have purchased countless ebooks and guides. I went to seminars and trainings. I am not sure nor do I am aware how many thousands of dollars I have spent to learn this and that as well to purchase numerous softwares. Most of the ebooks or guides that I purchased, I will read and then took no further action. That’s really a pity. While I can say the majority of investments I made ended zero, there were some which were quite OK.
I recalled attending a smart blogging seminar where I learned how to make money online in a more advance way using niche blogs. I made quite a handful of money after that. Other than that one, I don’t remember implementing seriously what I’ve learn from my investments.
Too Many Digital Products Purchased, But No Serious Action
In 2009, I explored Warrior Forum (WF) and Digital Point Forum (DP). Those two forums are very important to those who want to make money online because lots of things are discussed, revealed and shared. In WF, a section called Warrior Forum Offer (WFO)(See WFO listing offer here) is available. It is a great place for internet marketer to promote and sell their product creations at such a low price (I personally called it knock-out price). The price pretty much depends on the marketer. The price can be as low as $7. Sometimes it can be lower than that. However, most of the marketers love to start selling it from $7, and the price slowly rises. That’s the MAIN PROBLEM. The products which are always enticing, promising great end results or high income will end up ended on my hard disc. Yes, I read them, listen or watch all of them, but unfortunately I did not seriously practice it. If I even attempted to do what the ebook or guide asked me to do, I tried for a maximum of 1 or 2 weeks, and then should there be no result, I then ignored the gist of new knowledge/technique that I just learned. What a pity. Pity to myself. These marketers are very good at persuading mediocre or newbies to purchase their products via a systematic effective convincing sales letter.
Last & Final Digital Product Purchase
In 2012 or 2013, I purchased the last ebook/guide from WFO. It has been one year already and I believe I have not purchased another one since that last one. The one important message that I gained is that the author asked us to stop purchasing ebooks/guides. He said that most of the Internet marketers make most money from selling ebooks/guides. Hence, the author said that it is time for us to create our own product and sell it. We need to identify the sort of field or niche where we are best at and start creating the product. That piece of information made me aware. I realized that all this while, I have been deceived by purchasing countless products from WSO and other places. I am not saying that WSO is at fault or guilty on this matter. WSO are just there as a platform for marketer to sell their product at a knock-out price. It is us who keeps on buying without practicing what we learned.
What that author conveyed really struck me. I then realized that I have not attempted to create my own product and sell it. I need to do it. I did created an ebook in my mother tongue language in 2008 about How I Made Passive Decent Monthly Income From my Blogs. That ebook was given away for me to build my email list. After that, I have never created any product. Perhaps that time, my mind was fully occupied for my PhD. Well, now that I have completed it, I need to think of a product to create, get it done, publish it, market it, sell it.
OK, I need to create a product, but what product?
It is quite tough initially to think of what topic and what kind of product to create. I have this feeling that I am not good enough to create a product. I don’t have the confidence. I believe most of the people out there may feel the same thing as well.
OK, let’s be honest here. Who I am to share you all this information while I personally have not create a product to sell. I am a nobody so far, for the time being. But here I am. Sharing ONE PIECE of CRUCIAL information to you – CREATE YOUR OWN PRODUCT. Yes. I share this information because I strongly believe this is one of the easy and effective ways on making active/passive income from the internet.
It is pretty much straight forward. You have a product, you sell it, you get profit. You sell other people’s product, you get commission and that’s your profit. Can you see it? Do you notice something?
OK, let’s look at it again, together.
Scenario A: You create a product called “ABC Ebook”. You sell the product. You then register your with an online marketplace that provides affiliate, media, tracking service like Commission Junction (CJ), Click Bank (CB), PayDotCom (PDC), E-Junkies (EJ) and others (I will discuss on this in future post). You set a 50% commission to those who register and successfully sell your product. 50% commission is an attractive amount of pay. You are actually recruiting marketing agents to sell your product. Regardless who sell the products, you or your agent (affiliates), you get paid for your product. Instead of you alone selling your own product which is ABC Ebook, you may have up to 100 affiliates fighting to sell your product to earn that 50% commission.
Scenario B: You don’t have time (or desire) to create your own product. Hence, you don’t create your own product. However, you register with Commission Junction, Click Bank, PayDotCom, E-Junkies to sell a product called “XYZ Ebook” which gives out 50% commission. It seems reasonable because if XYZ Ebook is priced at $50, you will get $25 per sale. If you work very hard on your marketing (say perhaps Adwords, pay per click (PPC) (like Google Adwords, Bidvertiser) search engine optimization (SEO), banner in blog etc) and manage to sell 10 ebooks in a month, you will get $250 that month as your commission. But than, what will be the amount of time and hard work you committed on marketing the product? While you think you are making sells for yourself and earning commission, you are actually helping the product creator/manufacturer making more profit. You are one of his/her affiliate marketers/agent. You work, you market the product, you successfully convert it into a sale, you earn commission. You stop doing that, you don’t get anything.
Let’s compare and analyze both scenarios
Do you understand both scenarios? Can you see which one is more profitable? Which one is easier? To make things clearer, lets check out the comparison that I have made in Table 1 below:
Table 1: Comparison between Scenario A and B
|Scenario A||Scenario B|
||Initially difficult. Need to create the product, sales page, banners etc. May take typically 1 to 3 months or more depending the complexity of the product.||No need|
|Product creation||Investment: time, money, expertise. May need to outsource few things like design of sales page, copy writing of sales letter etc.||No need|
|Product marketing||Can market own product & invite affiliate to market it as well using the likes of CJ, CB, PDC, EJ etc. This is leverage marketing.||Market other people’s product via banner in websites/blogs/forums, PPC, SEO, email marketing, social network marketing, etc. This can be quite tough.|
||If using CJ, CB, PDC, EJ etc., it can be no cost because affiliates help to market the product. But, need to pay some amount of registration fee (normally one time payment) to enable to market product in CJ, CB, PDC, EJ etc.||If market own email list, own blog/site, own social network site can be no cost. However, if market using PPC, cost incurred but conversion can be high if done correctly.|
|Profit projection||If the product is promoted by more affiliates, chances of getting high profit is easy.||Profit depends on the success of your own marketing strategy and conversion.|
|Income status||If the product is an evergreen product, it can be a passive income as long as the product is continuously available for sale and updates are made for product improvement. If it is a seasonal product, a massive income can still be generated due to the affiliate helping out the marketing effort.||Active income. As long as you actively promote, you can earn commission if sales are made. Once you stop marketing it, no income will be generated.|
|Branding||Leverage the establishment of own brand. Credibility is being marketed. Create your own legacy.||Help to market other peoples product/brand.|
|Future perspective||Once you create a product, you get the feel of it. When you see the cash rushing in, you get excited. After deducting the commission, you still have plenty of net profit. You can then create the next product and just repeat the same thing. You can also JV with other marketers/people. You are a self-made entrepreneur and on your way to be a millionaire.||As long as you keep on promoting other people’s product, you remain a marketer not entrepreneur.|
From the table above, you can see that there are pro and cons between creating our own product and subsequently market it versus marketing other people’s product. I don’t think I need to explain more on this. You can personally decide which one is more suitable and profitable for you. You can decide which one is more practical for you.
I believe I have been clear in stating my point, which is to create our own product. On personal basis, I admit that I don’t have a product yet. I am in the process of creating my own product. I don’t want to be a person who says what to do but not doing what he says. I am just sharing what I have learned and read. I believe, by sharing such imperative information, I will add value to you. I would like us to grow and evolve together.
I end this article with a quote that I obtained from an old traditional business man that I met today, “Put business profit aside. Help your client first and when your client is happy, you’ll be happy. That’s the ultimate happiness”.
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