My Beginner’s Guide to E-Product Development

Introduction

The internet is an elephant, so to speak. So how do you eat an elephant? One would say one piece at a time. Every internet guru has his own views about how to succeed in the internet or online, but like any other thing in life, there is no one perfect way, or one size fits all. Some say content is king. Some say begin with a list. Some say begin with 100% automation. Content, list, and automation all matter, but what about the person that is just beginning and doesn’t know his left from his right? I believe a beginner should start with a product to prove his credibility and from there move on to building a list while at the same time gradually working towards automating his website to work on autopilot.

A Caveat about Starting With a Product

Having said that it’s better to start with a product, I believe it’s appropriate to throw in this qualification by saying that at the highest levels, you can actually sell a product you have not yet developed to your list or followers, but as a beginner, you may not be able to employ that strategy. At its most basic, it involves telling your followers that you have a product that is coming out in say 90 days or 180 days time and any one among them that buys in advance would get it at 30 or 20 percent discount. Some may decide to buy and you can then use the cash to develop the product. This strategy is for already well known “brands” like Peter Diamandis, Brendon Burchard, Tim Ferriss and Tony Robbins to mention just four.

How to Develop Your First Product

This presentation focuses on how you can develop your first product. The truth is, in internet business, you don’t have to wait until you have a perfect product. Just begin and continue improving along the way. If you compare cars or any product for that matter made in the 1970s, 1980s and 1990s and 2000s, you notice that they keep getting better in terms of design, sleekness, and performance, to mention just three aspects. That should be your aim. Start, and keep improving day in and day out.

In this presentation, the focus is entirely on electronic products (eProducts), not the selling of physical products online, which is referred to as e-commerce. I’m assuming that you’re already an expert operating in six dimensions as an author, trainer, speaker, coach, consultant, seminar leader and now gunning for the seventh dimension, information marketing. If you don’t consider yourself an expert, don’t worry too much, we’ll come back to that and the scales will fall off from your eyes. Even if you’re not operating in any of the dimensions yet, say you’re just an employee, don’t worry, this presentation will open your eyes to the possibilities ahead. The author of the book Instant Income, Janet Switzer, listed over 52 eProducts one can develop in her Maverick Program but we’ll limit ourselves to just the simplest products as this is a beginner’s program.

Understanding or knowing which products to develop, the demand for those products and how to position your products are beyond the scope of this presentation. Also marketing, selling and launching your product are outside the scope of this presentation. Having covered those preliminaries, let’s dive in on your product development journey.

Products Suitable For E-Copies

The main products that you can easily convert to e-format are:

• Books

• Music

• Courses (seminars) – these are generally referred to as “How to Products.”

• Speeches

• Research findings

The Top 7 Most Lucrative “How to Products” Areas In the Expert Industry

According to Brendon Burchard, in his book The Expert Messenger, the seven most lucrative how to product areas are:

1. Motivation Advice

2. Leadership Advice

3. Financial Advice

4. Business Advice

5. Marketing Advice

6. Relationship Advice

7. Spiritual Advice

E-Product Formats

The main formats are:

• PDF

• E-pub

• Mobi

• Audio (MP3)

• Videos (MP4)

Sites For Uploading Your E-Products

Having made or created your product, the next thing to do is to launch. You can launch your products through a combination of channels, including:

• Your website

• Third-party websites

• YouTube

• Vimeo

• Stitcher

• iTunes

• SoundCloud

• CD Baby

• To your List through an e-marketing platform, example, Mailchimp.

The Various Product Formats In Detail

Let us now take the product formats one at a time in slightly more detail.

PDF (Portable Document Format)

One of the easiest ways to join the online business as an expert is to start with training course, workshop, seminar or a book. Your book in particular can and will open doors especially if you can write a New York Times best seller. For a beginner, that might be far-fetched so let’s just begin with a good book or a well thought out course. Having done your book or course (this applies too to seminars and workshops), you save in word or PowerPoint and convert it to PDF. PDF (portable document format) is a special format developed by Adobe and can be bought online or better still buy the CD and install in your laptop. Once converted to PDF, no one can amend or tinker with your product and you can upload it to your website and start selling. Sounds so simple? Yes! Technology simplifies things. Anybody with a laptop or smart-phone can buy your product and start enjoying it right away. Most new generation laptops and smart-phones have PDF reader pre-installed or you can simply download an app that enables you read the PDF document.

E-Pub

E-Pub (ePub) is short for electronic publication and is an eBook file format that the majority of devices, including iPad, android smartphones, tablets, computers, or e-readers can read. To convert your book to e-Pub requires a special software, which an average business centre can help you achieve. If you cannot get a business centre near you to convert your book to epub, you can do it online through a company by the name Allzone.

Mobi

Mobi is especially peculiar to Amazon Kindle as that is the only format that Kindle uses. Starting in 2011, some analysts projected that within five years there would be over 53million Kindles worldwide so if you want one of the Kindle users to buy your book, you have no choice but to have it in Mobi format. But there is good news. Amazon does not even require you to convert your book into Mobi before uploading to Amazon. You can upload to Amazon in Word format and Amazon KDP (Kindle Direct Publishing) will automatically convert it to Mobi for you.

MP4 and MP3

Just a few years ago we were using what was then known as CD (compact disc) before the mp3 format, which is an audio coding format for digital audio, was introduced. The mp3 (or MP3) format can store enormous amounts of sound so you don’t need hundreds of CDs as before. Your finished work can be converted to mp3 very easily to be listened to using digital devices including smartphones, iPads and laptops. Don’t worry about how to do this as an average sound or video editor would handle the technical aspects and help you uploaded your product to Stitcher, SoundCloud or CD Baby. Editing is not very expensive and goes for as low as $5 for a one hour episode depending on the editor and the fee keeps coming down as more and more people master the art of video editing.

Videos

Videos are what make the internet tick. Video engages more than any other medium so it’s a must you learn how to do video. And the good news is that it’s not as complex as you may imagine. You don’t even need any technical skills. Direct-to-camera video is the one you make with an ordinary camera or camcorder. Camera comes highly recommended compared to camcorder not only because cameras are generally smaller in size and cheaper, but because they develop less heat compared to camcorders. Initially, you may have to rent the camera but with time, you may decide to acquire your own. The most popular camera type is Canon, but you can also make videos with your smart phone however there is a slight drawback as you may not be able to edit or get audio or MP3 out of a smart phone so having a camera has advantages.

The other type of video is the one you make with a software. For Windows computer, you use a software called Camtasia and for Apple computers, you use what is called screenflow. You have to pre-install camtasia (or screenflow if you’re using Mac) in your computer to begin with. Let’s focus on Windows computers since that is the one I use. Having installed camtasia in your computer, the other processes are pretty straight forward. You first prepare your presentation in PowerPoint. When your slides are ready, you put on the earphone and plug in the voice converter or adapter and switch on camtasia. Once camtasia is on, you start speaking and as you finish with one slide, you move to the next one until your presentation is over. Once your presentation is done, you save what you have done for editing and viola your video is ready and you can upload it to your website, YouTube or Vimeo. Editing is not very expensive and it’s not something to worry about as an average business centre can handle it for you.

There is yet a third way of producing videos. This is different from camtasia video we just described above. In this case, there are actually companies that specialize in helping you make videos by providing you with prepared templates. One of them, which I use, is a company called Animoto. What you do is you sign on to Animoto and they give you the architecture to do a video complete with background music. You simply register with the company and once you log-in you just follow the straightforward instructions for preparing a video.

Animoto has free and paid versions of the service. The paid version starts at about $96 per annum. You don’t need any skills to do a video. The website provides all the needed headings, such as description of video, which you fill in and upload the pictures and provide a description of your video and viola, your video is ready. In the free and lower end paid versions, the company’s logo, Animoto, will appear on your video, but in the premium versions, nothing appears so no one would know you used Animoto. For the very high end versions, you can even customize by putting your name or company’s name and logo on the video. For the free version, you’ll be provided with a maximum of 6 place holders for just 1 minute video and no more. If you want longer videos then you have to go for the paid versions.

Conclusion

A journey of a thousand miles as the saying goes begins with one step. Internet or online expert business sounds and appears hard when you have no one to guide and show you the way. The fastest way to cut your learning curve is to get a coach and you’ll be up and running in no time. In our Expert Empire Program we guide you through how to develop e-Products.

10 Ways to Get Ideas For New Niche Info Products

Most likely you’ve been told that the key to making serious money online and building a legitimate, profitable business is to have your own products.

Let’s look at the greats in the niche of online marketing: John Reese, Mike Filsaime, Jeff Walker, Frank Kern etc.

What do they all have in common?

They ALL produce their own info products.

In fact, I encourage you to find one well known marketer who does NOT have their own product.

If you want success in your niche, if you want to brand your name, if you want to be the go-to-guy (or girl) in that niche – then you’ll need your own products.

This article will outline 10 quick ways to come up with ideas for your next info product.

1) Go to graphic design artists websites and look through their portfolio. You’ll see all the niche eCovers and minisites they’ve been creating. This is a great way to spy on what other marketers are doing in their niche markets.

2) Go to your favourite keyword research tool and type in phrases like “tips”, “secrets”, “how do i”, “how to” etc. Look at the results that come up.

3) Go to websites that have a lot of categories, such as EzineArticles.com. Go through those categories and if there’s anything that appeals to you, make a note of it. Perhaps you could create an info product in this category.

4) Similar to the above method, go to your local magazine store or Magazines.com and find topics that interest you.

5) Take a look at the best sellers list at Amazon.com These books are obviously in demand.

6) Simply create a product based on your passions and interests, or on topics that you’d like to learn about.

7) Use the power of ‘bullets’. You know, those bullet points you see in salesletters that highlight the features of the product.

8) Look around your immediate environment, I’m sure you can come up with some niche product ideas from that.

9) Go to Clickbank.com, go through the various categories and look at the best selling products. These are products that sell, and sell well.

10) Analyse the trends in the media. The media have a massive influence on our lives. Recently, the media reported that antioxidants had no health benefits at all. This caused massive controversy. If you’d of written a report about the health benefits of antioxidants, you’d of had a massive seller.

A few rules about info product creation before you go.

Rule #1

Focus on quality. Your product must be a quality product. That’s the most important thing.

Rule #2

Be market orientated, not product orientated. Many people create products because it’s on a topic that interests them, but this doesn’t mean the product will be a seller.

Rule #3

Create what already sells. Many believe that they’re onto a winner because they’ve created a product that no one else has ever created a product about. 99% of the time they fail. There’s a reason no one else sells that product, because it doesn’t sell!

The Truth About Kylie Jenner’s $800m Cosmetics Empire

Kylie Jenner’s cosmetics empire was recently featured on the cover of Forbes magazine – America’s most prolific business monthly.

Whilst much contention was raised about the claims that her wealth was “self-made” (which it wasn’t), the bigger question was how this actually happened – and the numbers behind it.

Jenner’s “Kylie Cosmetics” business has raked in an estimated $660m in sales during its 3 year lifespan, with $330m in 2017 alone.

Whilst the business is private, and thus its numbers are not publicly available, even if these estimates were 50% off, the figures would be staggering.

What’s more – the “company” only has 7 full time employees. Everything from packaging to PR is outsourced, and the only way that Jenner gets customers is by leveraging her 110m Instagram followers.

This article examines how it was done.

Social Midas

The core of Jenner’s success has been the 110m followers on Instagram.

The company doesn’t advertise outside of the platform, doesn’t have any shops or stockists and generally just peddles its products directly to its community.

Whilst this sounds like a marketer’s wet dream, the most important element was Jenner’s lips.

In 2017, precisely 2 years after registering the trademark for her brand, tabloids around the world started running reports on the size of them; with the help of fillers, she’d managed to almost quadruple their size.

The point here is not so much about what she looks like, but how she capitalized on the interest… she’d inadvertently uncovered one of the biggest “trends” of the modern West – women lusting over youthful, full lips.

To this end, putting $250k of her modelling money into 15,000 lip kits, she set up a page to sell them online. Almost instantaneously, they sold out.

Whilst this was a great step, the next process was Jenner’s omnipotent mother – Kris Kardashian – bringing in Shopify in February 2016 in order to make the business a fully fledged ecommerce operation.

A few months later, the company started selling with six shades of lip kit – all of which sold out very soon after launch.

Exponential Growth

Whilst the store did well immediately, what spurred continued interest was its maintained growth.

Rather than being a small blip – where girls go and buy the latest product because it’s on-trend – the business kept producing buyers at an alarming rate.

This could be handled thanks to the way in which it had been set up. It’s a quintessential “dropship” operation; all of the product development & sourcing was out-sourced to a company called Spatz cosmetics, who’re estimated to have made ~$180m from the venture.

This figure represents the COGS (Cost of Goods Sold) of the business; a little-known number which will help us actually determine the true value of what’s been developed.

You see, when it comes to money, 99.9% of people are generally wrong. This isn’t me being disrespectful; they’re just not experienced / level-headed enough to actually consider the facts from the hype.

Jenner’s “business” isn’t a real business. It’s a marketing company which trades in attention.

Like all things “Kardashian”, that attention comes from multiple sources – but is ALL directed towards the family. The matriarch (Kris) then turns this attention into money.

Unfortunately, a lot of people have conflated Jenner’s attention with the value of her business. They are mutually exclusive, and in the investment world, has lead the “price” of Jenner’s pull to be “overvalued” (people think it’s worth more than it actually is).

As mentioned, she doesn’t have a “business” because all the product creation is outsourced. She has a website that sells outsourced lip gloss etc.

This means that if you’re actually looking at what’s really going on, you have to be able to consider what the business actually is, and – ultimately – whether it can be sustained (no).

Worth / Value

When it comes to valuations of companies – the most important thing to consider is that almost the entire populace of the world is wrong about which ones will win in the long run.

And although I’m no sage on the topic, I’ve been around long enough to know which companies will sink and swim.

In the case of Jenner’s, I see a flash in the pan.

It has very little – if any – competitive advantage, and is primarily built around a persona which is false.

It’s my opinion that most of the current purchases (and yes, they are HUGE in volume) are predominantly impulse purchases.

Curious teenagers, and even mid-twenties women, are buying the products because of the promise of a richer, fuller pout. But without costly filler injections, this is just a dream.

My own estimation is that Jenner is probably worth ~$20m. Her “business” is worth about 1/5 of its profit (which is likely nearer to $100m than the $800 revenue reported by Forbes), and thus the whole thing just stinks of a marketing gimmick.

Further to this – actual metrics of the various products being sold by Jenner seem to indicate a slowing growth curve – just 7% in 2017 after a meteoric first year surge.

This is not to put shade onto her success. But to label her a “self made” success story is incorrect, as well as inflating the numbers in sales. With at least 50% of the revenue going to Spatz (who also work for L’Oreal), it’s my opinion that they are the real winners out of it all.

A Software Package for Business Change – Odoo ERP

Enterprise Resource Planning (ERP) is defined as an “information system package that integrates information and information based processes within and across functional areas in an organization”

Earlier applications were aimed at particular customers with restricted functionality and isolated from other applications. Whereas Odoo ERP is a business tool that sums up all the applications required by an organization and connects to other organizations. Today, ERP have added new functions such as product data management, electronic commerce, supply chain management and warehouse management.

Therefore, OdooERP makes the business competent.

The implementation of Odoo Enterprise Resource Planning to a project involves:

Project Planning

Business & Operational analysis including Gap analysis

Business Process Reengineering

Installation and configuration

Project team training

Business Requirement mapping

Module configuration

System interfaces

Data conversion

Custom Documentation

End user training

Acceptance testing

Post implementation/Audit support

There are a number of OdooERP systems available in the market which makes it difficult to choose the right one for a business. Odoo ERP selection is a difficult yet important task. There are a few guidelines to be followed while selecting the ERP:

Set up the need for Odoo ERP/CRM software.

Take the right ERP selection team.

Buy a customized ERP software.

Assess Odoo- ERP implementation Partner.

While selecting the Odoo ERP, you should go for a simple and refined one. Such solutions are easier to implement as well as for the employees to use.

Common mistakes when you go for building s/w are:

Including too many features.

Developing on multiple platforms in the initial stage.

Not focusing on the user experience.

No flexibility.

Lack in monetization planning.

Ignoring the importance of marketing.

Not using analytics services.

Avoiding mistakes will much likely help erp developers to succeed in their business; keeping the users engaged will improve the revenue of income. No doubt, the execution of the idea is equally important. Efforts are to be channelized in the right direction will help the developers to build applications that users love and achieve desired results.

ERP/CRM will help you to develop your customer base and keep them informed. You will be able to include offers on discounts and other information, which makes your customers realize that you consider them unique and specifically a customer that you want a relationship with rather than just treat them as a number. Through these softwares for business, you are able to communicate in a much extensive way as compared to emails, which might remain unread.