The method for creating a product is simple.  In theory, of course.

I understand that creating a product is easier said than done . . . especially when you haven’t grown up with or been taught that mindset.  I’ve had a tough time myself, but I’m forced myself to come around and adapt my brain with more creative juices.  Everyone has it in them.

The best way to get started with creating a product is to use your own knowledge as the template.  I’m talking about informational products.  These products that teach someone how to do something or inform people about a particular subject.  We are all good at something, but what we don’t realize is that we can take our knowledge and skill and create a product out of it.

Here are 10 reasons why you should be focused on creating informational products to jumpstart your quest for financial freedom.  

Informational Products graphic 11) Inherent Creative Process.  The biggest challenge to creating a product is, understandably, coming up with a product.  But you already have numerous products in your arsenal.  You have, in your mind, knowledge about your interests, your passions, your skills.  You may be a great tennis player.  Or you might be good at sewing, fencing, or scrap-booking.  Are you a good cook?  Do you have a folder full of recipes you’ve tweaked over the years?  Perhaps you’re an expert in scuba-diving, or lobstering, or fishing.  Maybe you know how to clean a boat better than anyone else.

You get the picture.  Everyone has talents.  Find your greatest talent or skill (or several talents or skills), and that is your source for a how-to product.  If you know how to do something (e.g., cooking, fishing, sewing, etc.) better than most people, then you can explain and teach others how to perform that something via an informational product like an ebook or a report.

2) Low Production Costs.  Often, a hefty obstacle to creating a product is the cost of doing so.  If you have a great idea for a new type of invention or a protein supplement, it might cost you a few thousand bucks to get a prototype.  With an informational product, however, your only production cost is TIME.  Your time, to be exact.

The time it takes you to create your informational ebook, newsletter, report, etc., is the extent of your costs.  Moreover, because the product is digital, it doesn’t cost you anything to duplicate it (unlike the time and expense it takes to duplicate tangible products).Informational Products graphic 2 

3) Zero Start-up Costs.  This point is very much related to no. 2.  You don’t need a warehouse or any sort of machinery to create your informational product.  You don’t need inventory.  You don’t need employees, outsourcing, research, development, etc.  You just need your very own computer and an Internet connection . . . which you most likely already have.

4) You Can “Borrow” Information.  Let’s say you can’t find something you can teach others.  Well, you can always borrow some information.  Seriously.  Go out and read the top 3 books in any niche field, and you will automatically know more than, say, 95% of the population on that subject.  Now you can go and create your informational product with that newly-acquired knowledge. 

5) You Can ”Repurpose” Old Information.  (Be sure to consult an intellectual property attorney before re-purposing someone else’s material.)  There are thousands of works of literature that are in what’s called the “public domain.”  That means there is no legal restriction (as in copyright restrictions) on their use.  Project Gutenberg is my favorite site in this are: it lists over 15,000 literary works that are in the public domain. 

6) It’s Unique.  Your informational product is based on your own knowledge and/or skill and, thus, is unique.  That sets it apart from the rest of the products on the market and makes it more attractive to your targeted niche.

7) It Can’t Be Duplicated Or Copied.  An ebook, newsletter, report, or any other informational product in print form can’t be copied and re-sold.  That’s one of the biggest upsides with these types of products.  If you decide to drop-ship a particular product, unless you obtain an exclusive-rights arrangement, sooner or later, other drop-shippers will jump in and erode your profit margin.  Moreover, if you create your own tangible product, unless it’s a very unique and patentable invention, others will copy your product and put out duplicates in due time (again, eroding your profit margin).

Informational products don’t have this problem.  Because it’s your own intellectual work, you have intellectual property laws to protect it.

8) HUGE Profit Margins.  Because you’re not investing anything other than your own time, and because it doesn’t cost you anything to duplicate your product, you’re keeping 100% of your profit.

Informational Products graphic 39) Time And Geographic Mobility.  Since all you need is a computer and an Internet connection, you can create and duplicate your informational products at any time you want and from anywhere in the world.  You can work on your product in the morning, during lunch, in the afternoon, in the evening, or in the middle of the night.  You can work on your product in your study, at the library, at your local Starbucks, at the beach, or in an airport. 

10) Ever-Expanding Online Market.  More and more individuals are spending money on ebooks, newsletters, reports online.  The days of heading to your local bookstore for a how-to guide on a particular subject are fading fast.  The number of online users is growing rapidly. 

I hope these 10 reasons persuade you to jump into this very profitable area of product creation.

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