Knowledge is Wealth (if you sell information products)

Selling products or services isn't the only way to make money online. What you know can earn you a nice income. People are always looking for information to help with a problem, to educate them, or to entertain them. There is big money in information products on the Internet. The potential for huge profits are great because you have low startup costs and no inventory.

The most common information product is an eBook. An eBook is simply information in an electronic rather than paper format. Other information products include:

streaming video viewed on a web page
audio files on tape or CD
pod casts
access to web pages where info is stored
printed books, CDs, DVDs sent to buyers.

Computer + Topic = Information Product

Big money in information products happens because the process is very easy to create. Choose an interesting topic, put fingers to keyboard and in a little while you've created an info product. If the topic is really hot, you may start earning income hours later. Internet technology provides 24/7 sales and delivery of product. Automate your site so you can sell the product, process the payment, deliver the item via email, and follow up with the buyer later to check on customer satisfaction (and sell more stuff!).

What makes a good information product?

Practically any subject can net big money in information products. How to start a business, self-improvement techniques, career advice - if you can think of a topic, there are probably people willing to buy the information product you put together.

Use your interests and expertise for subject ideas. Search online forums to locate people who might be interested in your information product. Offer to send them a free copy of your info product. This will spark sales and lead to referrals for you.

No writing experience needed.

You don't have to be Pulitzer Prize material to create information products. There are millions of works in the public domain that you can republish and sell. These include non written items such as art, photos, old films, and historical speeches. You can even hook up with a talented writer to help you create an information product and pay him a flat fee or percentage of the profits.

You could make a video of yourself or another person demonstrating a skill (cooking, crafts). Budding musicians can record their songs and sell them as an mp3 download. There's even a guy who records himself reading nursery rhymes and sells the CD to parents with small children.

Product Promotion

A lot of fledgling book authors and musicians sell their books and CDs from the back of their car trunk. For online information products, your web site is your car trunk. Create a site specifically for selling your information products. Participate in affiliate programs to increase site traffic and sales for your items.

Sources

"The Best Product to Sell Online," (entrepreneur.com)
"Selling a Product on the Internet," (2createawebsite.com)
"What is The Perfect eBay Product???," (skipmcgrath.com)