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What's The Best Product To Sell Online?
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By Tim Knox
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I wish I had a dime for every time I've been asked, "Tim, what'sthe best product to sell online?" I also wish I had a nickel forevery blank stare I received when I answered: "That's simple:information." I'd have enough money to finance another startupor two.
As more and more entrepreneurs move to the Internet seekingtheir fortunes, "What's the best product to sell online," hasbecome the number one business question of the decade.
The next question is always: "Why information?" Again, theanswer is simple: because no other type of product is easier tocreate, faster to bring to market, easier to distribute, andpotentially more profitable.
Many info products net as much as 75% to 95% profit on theinitial sale after all costs have been deducted. And residualsales to established customers can offer 100% profit.
Informational products come in many forms. An info product canbe a digital book (e-book" is the accepted term), a digitalreport or white paper, a piece of software, a website, anewsletter, etc. Any product that is informational orinformative in nature can be considered an info product.
Here's why information is the best product to sell online:
Fast to create, fast to market Forget a product developmentcycle that is years in the making. Forget an intense design andcostly manufacturing process. I have literally created infoproducts in as little as two hours and had them generatingrevenue shortly thereafter. If you have an appealing topic and acomputer, you have all the tools you need to create an infoproduct.
No inventory to stock Forget filling your garage with boxes ofcheap watches and cases of mega vitamins that you will neversell. When you sell information there is no inventory to stock.Your product is digital (I like to call it electronic air) andrequires no space in your garage, just a little space on yourcomputer. One of my most successful info products is a 30kbe-book that requires almost no space at all.
Low startup costs When you sell information you can literallycreate a product for next to nothing. If your product is ane-book the only investment required will be in the time it takesto put words to digital paper. If you become an affiliatemarketer of someone else's info product your investment can bezero.
You can automate the sales and delivery process. Thanks tointernet technology you can sell info products 24 hours a day, 7days a week, and never lift a finger. In fact, you don't evenhave to be awake or at home to make money with an info product.I know many successful info entrepreneurs who are getting richdespite the fact that they work as little as an hour a day.
They check the website and their email, then go play golf orhang with the kids for the rest of the day. You can completelyautomate the sales and delivery process so your website doeseverything for you.
An automated website can give a potential customer your salespitch, take the order and process the payment, deliver theproduct by email, and even follow up in a few days to make surethe customer is satisfied and offer to sell them additionalproducts.
You can offer immediate access or delivery Online consumers arean inpatient lot. They want things NOW! These are people whostand in front of the microwave impatiently tapping their footand frowning at their watch. Selling information is the best wayto give your customers immediate satisfaction. As mentionedearlier, an automated website can process the order and payment,then immediately email the download link for the product to yourcustomer.
There's no shipping and handling One of the things I never likedabout selling hard goods was the manual process of taking theorder, running the credit card, placing the order with adropshipper or filling the order of my stock. I hated finding abox and packing peanuts and printing the label and taping it allup and lugging it to the post office. Every minute I spentfilling orders was time that I was not being compensated for,therefore, my profit grew less and less with every minute spenton shipping and handling. Informational products require noshipping and handling. Most are delivered by email. In the timeit takes you to click your mouse, you can deliver an infoproduct.
What if you don't have your own info product to sell? This isone of the most appealing aspects of selling information. If youdon't have an info product, creating or finding one is mucheasier than you think.
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