Creating Virtual Products & Services

You asked for it, so today I’m going to show you how to create your own virtual product and how you can quickly start selling it.

As I mentioned already, I started out selling virtual currencies for online games.

That said, I don’t recommend going this route because of the high competition and constant price wars. Not to mention the high risk of the actual business itself: lost accounts, fraud and more. The game companies don’t like virtual sellers so they shut down accounts, costing sellers A LOT of money.

This was my first eCommerce websites:

This website DOMINATED! I’ll break down the different pages of the website another time but know it dominated in it’s day.

Each page was perfectly crafted to funnel traffic to the checkout page; it was A LOT of fun optimizing that website and watching the results in real time. I’ll talk more about the website and how I optimized it later.

So we’re NOT selling virtual currencies for online games? Nope, it’s just not worth the headache.

I debated about this; creating and selling virtual items is a HUGE topic, so this is what I’m going to do. I’ll show you the easiest virtual product to create in this blog post and to get more information read the bonus section in SFB; that’s where I’ll cover more about creating software, membership websites, video courses and more. Today we’re talking about eBooks!

So let’s get started!

I’ve sold virtual currencies, eBooks, Software, Membership Services and general consulting services. Today we’re going to focus on information products or eBooks; they’re easy to create, automate and outsource. Once you have your product I’ll show you how to sell it; this is going to be fun!

Information Products (eBooks, Video Courses, Membership Sites)

I like information products because they’re generally easy to create, they have very low initial costs, and once they’re created you can sell them with almost no overhead.

The general idea (as in every product or service you provide) is to solve a common problem for a group of people. Read the PDF Document I sent earlier (it’s only 29-Pages long), it will detail the prefect niche idea for you to get started with.

The downside to information products is that depending on your niche, researching and creating content can take time and effort. However if you have learned anything from me so far you know it’s in your best interest to outsource the initial draft work of your information product idea to others.

Outsource A Mini-Guide

What I like to do is seek out experts in the niches I’m interested in and have them create the draft copy for a small fee. I will go to large niche forums, find the top posters who seem the most experienced and hire them to create a mini-guide. I’ll than expand on that guide and create a full blown product in a very short amount of time. This makes it VERY easy to create a product in just days to weeks.

Another option as far as information products goes is video. If you create video tutorials it’s great because video is valued higher than other content because it’s information that can be absorbed faster and generally you get more value out of video. It’s good to balance video with written content.

Tools That I Use

Microsoft Word: It’s what I use; I have tried free options but I always come back to good’o Microsoft Word. If you’re fine with another program use that. With Word, you can save documents in PDF format. It makes it dead easy to create “secure” PDF documents easily. Another options is Google Docs, but again I like Microsoft Word, it’s what I use.

(Go to File –> Save AS –> Save as Type –> PDF)

You’ll end up with the final product –>

Than you can do some fancy stuff like create an eBook book cover, logos and more. Once you have your PDF than you can utilize large marketplaces such as Clickbank, TrialPay, E-Junkie and other 3rd party payment processors to make it easy to sell your work.

1. Create the Mini-Guide (outsource to a niche expert)
2. Expand on that guide yourself or outsource to completion.
3. Save your document to PDF format.
4. Profit!

 
That’s a quick and dirty way to create a fast information product that you’re able to start selling today. Isn’t that easy? You outsource the mini-guide to a niche expert, you get that back and finalize the product and in just days to start making money.

It’s a bit more than that obviously so I’ll expand on this in another blog post as I know it’s something that a lot of members are interested in; it’s exciting stuff!

About Donald

I'm Donald, I have a passion for making money online and teaching others how to make money online. If you haven't read Six Figure Boss already, check it out. It's a complete step-by-step guide to to creating your own online business.