In the last AwesomeWeb Series post, we talked about what we’d do if we absolutely had to get an extra sale today. The main takeaway, aside from the importance of understanding your target audience in order to make sales at will was that email marketing is still VERY much a way to earn substantial profits online.
This week I asked the group what type of product they’d create and sell first if they had to start all over again. Obviously selling a product (whether it be a book, ebook, membership site, consulting, coaching etc) has the potential to make you money.
The cool thing about it is that you’re not splitting revenue with a 3rd party or a JV partner you’re promoting with. Any quality product gives you another thing to list as the creator of adds weight to your authority and brand credibility.
If We Had To Start Over Again, These Are The 7 Products We’d Create First:
Contributed by Brian Moran
If I started over again, I would sell digital products. They’re the easiest to create and the cheapest to produce. There’s no financial risk involved and it allows you to get something out into the marketplace quickly.
Contributed by Tom Lambert
A digital book. With a digital book you can setup a proper funnel that acts as a lead and revenue generating machine and costs less than a few hundred dollars to setup. Selling a digital book on the Internet has practically no overhead and can help you quickly prove your idea or that there’s a market for the information you’re trying to sell.
If you go full-bore and create an entire business with print books, a membership site, software, etc. based on a problem you think people have but don’t, you’re going to waste a lot of time and money.
A simple digital book will help you quickly & easily prove that the problem you’re trying to solve or the pain you’re trying to alleviate are real issues people area facing. Not all of your ideas will be as good as they seem at first so I highly recommend testing the waters and learning what your target demographic really wants before making any massive investments.
If your product is good and you take the time to setup your funnel to capture leads (emails) you now have a rapid list of buyers that you know need your help and will buy your other products when you’re ready to expand the business.
Create A Service
Contributed By Nick Tart
I would still start with a service. If you have a talent that people value, there’s no reason you can’t make an extra $ 2,000-3,000 in the first month. You don’t even need an audience.
With a product, it might take a month or two to develop. Then you have to build an audience or convince someone else with an audience to promote your product. It could be a year or more before you see the fruits of that work.
When you’re freelancing, you generally get paid for every hour you put in. You learn how to work with people, figure out what people want, and slowly build a network of people that you’ve made happy.
Refining your skill through offering it as a service is the perfect lead-in towards delivering a product that you can scale. If you don’t have skills or a strong understanding of your market, it’s next to impossible to create a product that people want.
Create And Launch FREE Mobile Apps
Contributed by David Aston
It’s no secret that the web is in somewhat of a “mobile” transition. Nearly 20% of US adult cell phone users prefer using the smartphones to view content and interact with others online. That being said, there’s been a boom in self made millionaire app developers.
Free apps in many instances seem to be more profitable than paid apps in the long run. If you create something that people enjoy it’s much easier to get them in the door and hit them with paid upgrades, expose them to advertisers, and earn with CPI programs.
Create My First Guide Again – Sooner
Contributed by Josh Dunlop
If I were to start all over again, I’d create the same beginner’s guide to photography, but I would create it right away, instead of waiting for a year when my competitors were reaching the same market.
I would also continue creating video information products as they work well with my audience, and compliment the front end product nicely. There was ultimately nothing wrong with the first product I created, but the execution left much to be desired.
The biggest difference I think I’d do, would be to hire a copywriter from day one.
Video Course With Product Launch
Contributed by Dainis Graveris
If I had to start over again, I would definitely start quicker with creating products in the first place. Starting with blogging is a super long term commitment and I spent several years promoting other products without even thinking about my own products. As for type of product – I would start with a video course and nice product launch.
It would be one time sale course, with lots of preparation before and big launch date. Creating a quality video course is still a long term strategy, but it’s a solid one. The same way as people suggest to create email list from whole beginning, you also need to start thinking about what you can sell to your audience as fast as possible.
Software As A Service App (SAAS)
Contributed by Michael Dunlop
I would definitely create software. Software takes longer to create and often can cost a lot more money to produce.
When we launched PopUp Domination, we sold around 1000 copies the first month. It took us 11 days to create that first version.
I didn’t pay for any development or design work either.
I came up with a good idea.
That is where you start. It is much easier to make money from selling something that solves a problem then to create something for the soul purpose of making money and expecting to make money from it.
Once I had my idea, I found a digital agency that would do all the development and design work in exchange for 50% of the business and profits.
I gave them a big share but it was worth it. Because without them, it was just an idea.
In 2014, I wouldn’t create WordPress plugins. WordPress is great and you can create the best plugins but you will always have thousands of other plugins that are badly coded that negatively effected the functionality of the plugin.
Right now I’m creating an SAAS app (Software as a Service).
Better control of what you are building. More freedom to create. Happiest of customers. Recurring revenue. Low support.
7 Products To Create Right Now To Make Money Online
1. Create and sell several digital products. They’re the easiest to create and the cheapest to produce.
2. Create and sell a digital book in order to capitalize on a cleverly executed sales funnel. Selling a digital book on the Internet has practically no overhead and can help you quickly prove your idea or that there’s a market for the information you’re trying to sell.
3. Create and offer a service with recurring billing. Refining your skill through offering it as a service is the perfect lead-in towards delivering a product that you can scale.
4. Create and launch FREE mobile apps. In many instances they appear to be more profitable than paid apps in the long run.
5. Create my first guide again – sooner. Let go of fear and create it right away, instead of waiting for a year when your competitors are reaching the same market.
6. Create a video course to go with a product launch. Creating a quality video course is still a long term strategy, but it’s a solid one.
7. Create a software as a service app. Passive income. Less support.