Internet Marketing Success Tips – How to Always Show a Profit in Your Information Product Business

Are you fully aware of all the assets you have in your possession at this very moment? Most people have no idea of the astounding number of assets and resources readily available to them right now that could be used to quickly build and grow an information product business.

When I first ask clients to tell me what their assets are, I typically get a very short list of only five or ten items… money, equipment, products, education and the like. But an asset is much more than what those kinds of things represent.

By definition, an asset is a useful or valuable quality, person, or thing; an advantage or resource. If you’re unaware of all the valuable assets currently at your disposal, then how can you use or tap into them, much less fully leverage them?

Let’s take a look at a just a handful of the many powerful business-building assets you already have at your disposal… key assets that will enable you to not only survive, but thrive in your information product business.

Personal and Professional Assets Mini Inventory

Contacts

Make a list of ALL of your contacts and their relationship to you. Include business associates; past or present coworkers; networking acquaintances; current and past bosses and supervisors; vendors and suppliers.

Remember to include personal and business service providers; relatives; blogging or other social networking contacts; mastermind partners; media and PR contacts; and so on. Don’t overlook anyone. Sometimes it’s the people you least expect who turn out to be your most valuable connections.

List Assets

Record any contact lists you currently have or could easily gain access to. Include your own or others’ prospect and customer list; personal and professional association, membership, club, church or other group lists.

Be sure to include any lists that you’d like to gain access to. Take a few minutes to brainstorm or research how you could gain access to them.

Personal Assets

Make a detailed list of your core strengths, education, experience, skills and any specialized training you’ve had. Consider all areas of your life… relationships, parenting, finances, and health and fitness.

Don’t forget to include things like volunteering, musical and foreign language training and experience. You’ll be amazed at how quickly your list of assets will grow when you take every area and facet of your life into account.

Content Assets

List any content you’ve ever created, even if it’s raw, unpolished material. Include things such as business, association or club newsletters and articles; white papers and reports; interviews; coaching or consulting emails or other communications.

Case studies and testimonials; newspaper columns; product, service, book or other reviews; press releases; pamphlets or brochures; and instructional charts, graphs or blueprints are all content assets that could be reframed for use in your Internet business.

Physical and Virtual Assets

Look around your home and office and make a list of your computer hardware; electronics / equipment (iPod, digital camera / video camera, microphones, VCR or DVD player / recorder, cell phones, headsets, etc.).

Take stock of your software programs or applications; web hosting, broadband Internet access, phone line access / service, etc. Be sure to include service providers such as a bookkeeper, webmaster, programmer, web designer and others.

Financial and Other Liquid Assets

Make a list of your cash assets including credit lines, savings, 401Ks and other retirement accounts or funds. Record anything else that could be sold or otherwise immediately converted to a cash asset.

Consider real estate and other investments and any other potentially cash-generating assets such as any products or product inventory, rental properties, intellectual property (with a sales process in place), and anything else that currently generates or could easily be set up to generate an income.

“If you count all your assets, you always show a profit.” -Robert Quillen

When you take time to take stock of the countless assets and resources readily available to you, you’ll discover it’s far easier to start and build a profitable Internet business than you may have been thinking.

How To Turn Any Info Product Business Into A Massive Empire

Let’s talk about 5 ways to boost the profits of your info product business.

Go Physical. The biggest way to make more money in an info product business and eventually crush your competition is by creating a physical product. This you can do by turning your software or info product into physical form. One benefit of creating a physical product is that you can charge more for the physical form of your product. For example, instead of charging $67 for an e-book you can now charge $147 for the complete program. Another benefit is that you can now pay your affiliates more commission which will create more enthusiasm within your affiliate network resulting in more sales, profits, and market domination in many instances.

Add a Membership Site. Consider adding some kind of recurring income with a web-based service by charging a monthly membership fee. This does not necessarily have to be an online membership site. It could be some sort of service that allows people to go online and keep track of their activities. It’s much easier to make income on a recurring basis as long as you keep your customers happy, rather than having to develop new courses or programs all the time

Increase Affiliate Offers. You can do this in two ways:

On The Front-End. You can offer other companies’ products in your sequential emails following an email mini-course. You will just keep adding more emails to your sequence, offering more and more products as time goes.

On The Back-End. After someone buys your product you’ve gained their trust. So if you tell them of related tools and resources, there’s a very good chance they will order.

Add An Up-sell. You can increase the overall value of a sale by adding an up-sell. For example you could have an up-sell on your e-book order page that offers a related product at a special discount. Typically you can do an up-sell of up to 50% of the original price, and anything higher than that should be used as a back-end product.

Add Back-End Products. After someone buys your lower-priced product you want to go back and offer them something else at a later time. Most back-end products are more expensive than the original product. There are many related products your customer would be interested in that you can offer them after the original sale.

Digital Vs Physical Product Business – Which Do You Prefer?

There are good and bad to Both Digital and Conventional based Products & Businesses so I hope through reading this you can understand which you would prefer to do Business in. Starting with Conventional Products (Physical Products); firstly the customer receives something physically for the purchase and could in this way value a physical product, a customer may see the exchange of money for material as a fair trade even if the product itself does nothing but sit in the corner of a room, a physical product could solve an active problem in your daily routine and maybe can not go by without it, we all use and purchase physical products and need them in our lives. They keep us Entertained, Informed, Managed, Alive and in Business, without physical products life would be different in a big way.

Physical Products are always getting improved on and therefore always satisfying a new need so as Manufacturers are starting to sell their new product another better version is already on their minds or somebody else’s. The competition for Manufacturers of physical products is very high and in the International Market it is very cut-throat so to say as Fastly developing countries find cheaper faster and more efficient ways in Manufacturing Physical products. Physical products unfortunately have a life span that is dependent on the quality and the type of product how often it is used. A physical product takes up room in your life very differently. These things have to be calculated before the purchase in turn to minimise the scatter of your unused items. Physical products have been notorious for putting us at risk; electronics, power tools, chemicals-toxins, vehicles, machinery but are all unfortunately necessary evils which we use to facilitate our lives in one way or another.

Physical products lose monetary value after purchase and can be hard to sell for the same amount you bought it for after opening the packaging. Physical products tend to get more affordable over time as the market is saturated with Manufacturers competing on the similar type of product for sale. Unfortunately for physical products there is always a cost to pay in manufacturing it. There is always a percentage of the amount it was sold for at cost to the manufacturer, A manufacturing of a product could consist of needing components and materials for the product to be made, machinery to prepare the material used for the product, employee’s to operate the machinery, a facility or factory with overheads including; insurance, maintenance, wages, materials, power and counsel rates, Legal start up costs such as Patenting for ex, security management systems, OH&S Liability. A product producing Business is a Slave to the economic times and social trends of people and Lifestyles and the advance of technology.

Digital Product Business; what are the trends?

A digital product business can be either very tech complicated to manage or very simple to do. Either way there is a lot of researching and testing to do. A digital based business has the benefit of being stored in a computer’s memory somewhere and does not require such expensive rates of rent for your business. Looking at it this way a business can pay as little as $25 a year rent if all you want is minimum costs and benefits but on average you can pay around $10/month for unlimited access plans. On the down side Computers sometimes go down and your business is instantly turned off, but this is also manageable by purchasing a reliable dedicated server that will keep your business on line 24/7. A digital Product needs a niche market, with your research done you should pick a target market with little competition for the information or software you are trying to sell.

The eBook businesses that are sure to advance in their venture are Businesses with outsourced jobs, it is not a good idea to do all the work yourself as your knowledge and time is limited with other things such as customer enquiries and support of team members, it is a good idea to make your business plan to include employee’s with experience in the areas of work you are not confident with, Article writing, Search engine optimization, Publishing and ebook, building the web site and getting it ready to accept orders on auto-pilot. The benefits of a digitally made product is that it will cost you only once to make, it is then stored on your computer you can then sell this product over and over millions of times and not have to pay an employee for the manufacture or dispatch of the product to your customer it is all done automatically.

The down side of digital products is that the refund requests are higher than with physical products, but like everything you can manage numbers if you dedicate research or continue to better your game. The burden of Digital based business is that you often need to be in the game to test things out first and then after managing your plan and strategies you will begin to see results. Results are not Instant they are gradual. Some can claim that they have a secret strategy that will work wonders but more often than not this is a strategy that has worked for a few and will not necessarily work for you. But I’m not saying don’t believe what you read on the web I am saying that with experiences under your belt you will eventually come across a winning formula to your success “with out action we get no where”.

Video Production Business Tip – Making Better and Wiser Decisions

People say all the time to face your fears and to not let fear get in the way of what you want to achieve in life.

I agree for the most part but I also want to add that I think a little bit of fear is healthy.

Should fear keep you from trying something new? Not necessarily.

Should it keep you from doing something stupid? Absolutely!

Early in my career as a video business owner, I had NO FEAR which helped me grow the company very fast. However, it also helped me drive the company into the ground when the economy tanked and we lost our two biggest clients within a few weeks of each other. It was a tough situation to be in and it was one of the challenging phases of my video business.

For almost two years, I had close to $60,000 in revenue per month from these two clients. Then, with a blink of an eye, it was reduced down to less than $2,000 in monthly revenue.

Fear would have convinced me to start letting people go so I could preserve the cash flow of the company. (I kept everyone on way too long.)

Fear would have helped me realize that it wasn’t healthy to drain my personal cash reserves so that we could keep running the video production business as if nothing ever happened.

It wasn’t until I came dangerously close to losing my marriage back in 2009 that fear helped me realize I needed to shut my first company down so I no longer had to answer to my business partner and so that I could start making decisions that were best for my family… not for everyone else.

My current company has been more profitable with just one full-time employee than my previous company (with 8 full timers) ever was.

Of course, I learned a lot from my previous failure which makes it even easier to succeed this time around. However, I also believe I’m more successful now because I run the business with the fear of knowing what can happen to a company (and a family) if you don’t run it properly. It’s one of the driving forces that helped me maker wiser and better decisions.

Does fear get in the way sometimes of me accomplishing more, faster? Sure. Based on my personal experiences, I’ve learned that slow and steady will keep me in business indefinitely and that getting in a hurry has the potential to cost me everything.