Understand Product Creation and Planning

Once your seed has grown into your own online business kingdom you will be set for life and never have to worry about finances ever again. It all starts with your first tiny Internet marketing seed... your first product, so give it careful consideration. Identify some of the common problems that people in your selected niches have, then develop solutions for them in the form of products, scripts, software, or services. Your products dont have to be elaborate, but they have to be effective. Once you have the initial concept developed, you can outsource the production of your product through Fiverr.com, Elance.com, Odesk.com, the Warrior Forum, and similar outlets. You may have to test and tweak your first one before you launch it, but once you have done your first one, the process gets easier. One product will lead to another and before long; you will have amassed a huge collection of income producing products that will serve you well the rest of your life.

Your first product launch will hopefully be followed by many others as you develop your online business into a virtual empire of digital products. For example, if you are bilingual, you might start out by creating a set of online videos that instruct students in various techniques needed to speak proper English using a basic vocabulary. This market is known as ESL (English as a second language). Your target market would be foreign adults who choose to learn English at home via instructional videos versus classroom attendance. Videos provide this market with time flexibility, convenience, cost savings, elimination of travel, the ability to review lessons as often as necessary, and to share them with other family members. Future products will have to appeal to these basic requirements as well if they are to be successful.

One potential follow-up product might consist of brief audio-video presentations that are composed of voice over tracks on MS PowerPoint slide shows. These could be done on various subjects such as travel guides or instructional courses on subjects like personal finance, knitting, fashion, etiquette, meetings, sales techniques, preparing tax returns, auto maintenance, and an endless list of similar videos subjects.

In order to expand into other markets, you will need to create a unique new product and launch it so that other affiliates will sell it for you. This is the fastest way to earn huge profits and to gain recognition. Your goal is to acquire a list of satisfied buyers of your initial product who will also buy your future products. To do this, you have to deliver a quality product, prove that you are trustworthy, and make sure you maintain open channels of communication with your market to answer inquiries and process refunds. Your first product is more or less a seed that, once planted; it will continue to grow year after year to generate a consistent cash flow and revenue stream. If you build a trusting relationship with your market from the very beginning, it will generate revenue well into the future like a miniature oil well.

One instructional course, in particular, would be very popular as a follow-up product, and that would be a series of videos teaching cooking, accompanied by a PDF cookbook on disk, of common recipes for popular American cuisine such as hamburgers, barbecued meats, etc. A corollary to this product would be to produce ESL instructional videos and a cookbook of favorite recipes in the native language and culture of the targeted ethnicity, so foreign adults could instruct American friends and relatives how to prepare meals that appeal to their pallets. The cookbook could be sold as a stand-alone product to other ESL students online. Expanding even further, a cooking forum could be established for each language and ethnicity as well as an online cooking class taught by graduates of the ESL video cooking courses. In this scenario, the online ESL videos seed grew into a cookbook, an online cooking classroom, and a native cooking forum. Can you see how this illustration shows how one little product seed can develop into a series of related projects that have enormous potential to produce large revenue streams? Internet marketing is a numbers game and the larger the market you address with your products, the better are your chances of dominating the competition and surviving the slowdown in the economy.