Can you make money while you sleep?

new_business_next_stepsAfter our hangout a couple of weeks ago, Ann Hawkins asked me to guest post on her new blog, New Business, Next Steps.

‘New Business, Next Steps: The All-in-One Guide to Managing, Marketing and Growing Your Small Business’ is also the name of Ann and her co-writer Ed Goodman’s new book, released just a couple of weeks ago, so congratulations to Ann and Ed!

Here’s a taster of my guest post, click the link at the bottom to read the full article:

Can you make money while you sleep?

Have you heard that you can create information products and sell them twenty-four hours a day, even when you’re asleep?

This is absolutely true but it’s a bit more complicated than many experts suggest! It’s a brilliant business model though, and one that almost anyone can try. So why not give it a go?
Here are the top three questions that I’m asked about creating information products:

What should my product be about?

There are thousands of digital products out there on subjects from marketing your business to growing your own mushrooms! So what should your product be about?

Beware of creating a product on a subject where there are currently very few information products because this may mean there’s little demand for it.

It’s best to pick a subject you know something about as it’s far easier to promote a product when you feel confident about what you’ve created. You don’t necessarily need qualifications though, you could have learned your subject through experience instead. Enthusiasm for the subject is very helpful too, as the more interested you are in the subject, the more likely you are to complete the product and to make it engaging to use. Many information products are created to position the creator as an expert in their subject, so maybe you’ve already got a good idea of your general subject area?
Now you need to find a niche subject or angle within that broader subject. One of the best ways to do this is to find a single problem and solve it. For example, write an e-book on how to help toddlers sleep better rather than a more general book on bringing up toddlers. Research the books and information products already out there and see if you can find a gap that you could fill.

What’s the best type of product to start with?

There’s a wide range of formats to choose from, from e-books and workbooks to video e-courses. You can also make products with a combination of different formats, for example a video e-course with a transcript and a PDF workbook.

Read the rest of the article here

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