Sometimes we just need to take a look at the math to realize that a $100,000 a year, or even a month, is entirely possible.
Here are some examples:
Let’s say you create a $37 eBook.
$37 x 2703 sold = $100,011
If you break that down per month, then 2703 divided by 12 months = 225 eBooks sold per month, which is less than 10 per day.
Can you sell 10 ebooks per day?
Let’s look at it another way. Are there 10 people in the world that you can help each day with your knowledge?
Now let’s say you create a $297 Audio Program.
$297 x 337 sold = $100,089.
If you break that down per month, then 337 divided by 12 months = 28 programs per month.
That is less than 1 per day.
How do you make an audio program?
Record audio with your computer. You might need to buy a quality mic or a headset with mic built in. That will cost you maybe $50, give or take.
You can use a free audio program like Audacity.
Whatever your topic is, divide it into sections and talk for 30 minutes on each section. 12 to 15 sections and you’ve got a $297 audio program.
If you don’t know enough about your topic to make the program yourself, find an expert and either pay him to talk about the topics, or partner up and split the profits.
If you want to put the audio on actual CDs, you can use a company like Disc Makers.
The reason for making CDs instead of just downloadable audio is because the perceived value on downloadable audio is cheaper. You may be fighting an uphill battle though, as more and more consumers don't use CDs anymore.
An actual physical product that gets shipped to the customer has a higher perceived value. And a bonus for you is that refunds are reduced, because to get a refund they have to return the program.
Another option is to place the recordings on an inexpensive MP3 player and ship that to your customers. Be sure to include earbuds, too.
But wait… are you thinking you’re not ready to create a $297 audio program? Maybe you need to work up to it first?
Okay, let’s say you create a $47 Webinar instead.
$47 x 2128 sold = $100,016
If you break that down per month, that’s 2128 divided 12 months = 177 people a month.
You just need to get 177 people on your webinar each month.
If you develop and record multiple webinars to make them evergreen, you will be developing multiple streams of income to achieve that goal. Those recorded webinars can be repackaged and sold as a separate product.
But I can hear what you’re thinking right now…
“I can’t do this, I’m not an expert!”
That’s almost always the biggest hurdle for most people who are looking to create information products.
Here’s what you might not know: It’s not that hard to be an expert.
Have you solved a major problem?
Have you done something – anything – that other people would like to accomplish, too?
As long as you can solve someone else’s problem or pain, or give them the benefit they seek, or even help them with their passion, then you can create your own information products.
You don’t need to be the world class expert on a topic.
You’re not writing a thesis or giving a lecture at Harvard. You’re simply helping people to solve their problems and get what they want in life.
Do you remember what it was like to be in the shoes of someone who had the problem that you solved? Pretty darn difficult and scary, wasn’t it?
But you got through it. You survived, and even thrived, and now you can help others, too.
Remember, if you really, truly don’t want to be the expert yourself, then you can always partner with someone else who plays the part of the expert.
They create the product (with your help) and you do the marketing. Because after all, you do know marketing. In fact, you’re learning more and more about it each day.
If you’re not already, one day soon you’ll be an expert at marketing, too, and then you can teach what you’ve learned to others.
How you divide the profits with your expert is up to you and the expert. They have the knowledge to impart on your customers, but you’re the one who is making it all possible. Don’t sell yourself short; you deserve just as much profit, if not more, than your expert.
In fact, you could start a business in which you help experts get their knowledge to the people who need it by creating digital courses.
Imagine if you have not one $297 digital training course, but 10 of them, or 50 of them, all making sales.
How long would it take you to make $100,000 then, even with the profits split between you and your experts?
Not long. But it all starts with your first product.