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I'm in a mastermind group of self-employed entrepreneurs who want to make more money, have more fun, and give more back — all while sharing our brilliance with the world.
We all come from different backgrounds. I'm a copywriter and marketing consultant. There are life and business coaches. Trainers for executives. Marketing consultants for big companies. Hypnotherapists, golf coaches, designers, business management consultants and all other manner of experts and authorities.
Yet one of the basic teachings in that group is the same for all of us: “productize yourself.” That is, put your expertise in a product, package it up and offer it to your market.
If you're currently offering your expertise in the form of services and are doing pretty well, then you may wonder why you would want to create products in the first place.
Wouldn't your clients buy your products instead of hiring you?
Some would. And that would be a GOOD thing. Here's why:
1. You cannot possibly serve everyone.
Even if you work long days, you'll never be able to take all the clients you can attract. Why turn them away forever? Offer them your products instead.
2. You don't want to keep trading hours for dollars.
Products are a good way to earn passive income. You create it once, set up a marketing and fulfillment system, and the income pretty much comes in automatically.
If you've never experienced it, then you don't know the thrill of waking up, opening your email and seeing “Notification – Sale”! Makes me want to go right back to sleep, LOL!
And even though my humble infoproducts sell for under $30 each, I was pleasantly surprised to see that they added an extra four figures to my bottom line in 2009. Not bad for a few hours work at all!
3. You'll reach more people
By creating products, you'll be able to reach more people: those who can't afford your services. Those who can't fit into your schedule. Those who aren't ready to commit to hiring you.
Without a product, your income will be limited by your capacity to serve your customers or clients personally.
And, even if you never sold a single copy of your product, having one boosts your credibility. Imagine being able to write that you're “the author of XYZ…” It just sounds so much more impressive to be the author, creator or founder of something that's out there being sold in exchange for money.
For freelancers and consultants like me, having an information product is a good way of actually attracting clients. My special reports, for example, give my prospects a taste of what I know and can do.
That said, creating your own product isn't as easy as it may seem — even for writers like me.
And creating it is just the beginning. The more challenging part comes after the product is completed, when you put it up for sale and actually find buyers.
If you're interested in creating your own information products and making them profitable (might as sell a few if you're going through all the trouble), then I invite you to join me in a free teleclass called Rapid Product Formula.
In this call, you'll discover:
Click here to sign up for the teleclass.
The presenters will be Nicole Dean and Ronnie Nijmeh, two of my best clients.
Not only do Nik and Ron make six-figure incomes through their online businesses. They're also really nice people. Both are kind, funny (you should hear Nik laugh), generous with their knowledge, and full of integrity.
If you're interested in learning how you too can create passive income by selling Your Own Stuff, then join me in this call on April 14, 2010, 1 pm EST. And if you can't make it to the call, sign up to make sure you get a recording.
I look forward to seeing you there!
PS: Yes, Ron and Nik are offering this call as a preview to a product they'll be launching soon. However, the call is completely free and there's no obligation to buy Their Stuff whatsoever. So take advantage of the free wisdom they offer.
PPS: In case you're wondering, yes, I'm an affiliate and happy to be one! Nik and Ron offer some of the best, most affordable products I've seen out there. If you don't know Nik and Ron yet, you should. They give Internet Marketing a good name.
photo credit: Design Packaging
Lexi Rodrigo is a communication and marketing professional for multimillion-dollar businesses, co-author of Blog Post Ideas: 21 Proven Ways to Create Compelling Content and Kiss Writer's Block Goodbye, and host of "Marketing Insights LIVE!." Connect with Lexi on Twitter, Facebook, or LinkedIn.
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For a very long time in the beginning of my service based business offering I did not think I needed products to sell … mine or affiliate products. After all, the pay was good.
Then my husband became very ill and was hospitalized and I didn’t work for weeks. The only money coming in during that two weeks was extra money from another service I had recommended using an affiliate link.
A light bulb went off in my head and I knew what I needed and wanted to do to grow my business.
That’s so true, Loretta! We need to be able to keep earning even when we’re not actively working. I know I’ll probably write until I die (I enjoy it too much), but I still want to build passive income streams.
I hope to see you on the call then, Loretta!