How to Transform Your Ideas

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How to Transform Your Ideas Into Non-Stop Cash Generators
4 Failure-Proof Ways of Creating a Cash-Flow System that Keeps Putting Money in Your Bank Account Even When You Are Sleeping!!! By Iyabo Oyawale www.startyourdreambiz.com ©2006 and Beyond. All Rights Reserved. Introduction
All fortunes start with an idea, a simple idea, most of the time. So, if you have been hoping to get rich without an idea, quit daydreaming; you can never get rich without an idea. Now that you know the importance of an idea, let‟s examine what an idea is.

What is an Idea?
An idea is simply a thought or plan or impression in the mind. Ideas are the beginning of every creative work. Before creation, this whole world and the people in it were just an impression on God‟s mind. Everything was sleeping quietly in an idea. This is a fundamental principle of wealth creation. Remember the Bible says in the beginning, God created the heavens and the earth. That means that God had completed creation already in His mind.

A great future awaits every one of us, but this future is waiting for the idea God will release into our minds. It is equally pertinent to appreciate the fact that God did not finish creation, but started it. He did not turn into reality all the ideas in His mind because He wanted to give man the privilege to be a co-creator. No wonder we were created in His image and likeness. That means we have the capacity to translate into physical reality the other things He would have created. Creation begins with ideas. And God has designed us with the capacity to produce thoughts and ideas as well as the ability to turn them to reality. Everything visible today was just an idea that existed first in the mind of somebody; e.g. cars, television, clothes, building, e.t.c Therefore, everything or business activities we see around us are products of ideas. In a similar vein, wealth creation is a direct product of idea. The wealth of this earth was created by the idea in the mind of God. Still on the story of creation, we saw that, even after God had created the heavens and the earth, there was a problem. This earth was without form and void and darkness was upon its‟ face. The identification of a problem is the necessity for the generation of an idea. The idea so generated, will always be the opposite of the reality of that problem. There was darkness but God saw light. Every great idea follows great problems. Business activities are human efforts designed to provide solutions to human problems. The product of these efforts creates economic values that attract wealth or riches. In order to get money (and ultimately be rich), somebody else must be prepared to give it to you. Unless he or she is a generous relative or friend, this is not likely to happen so easily. You first need to understand the real, underlying reason people will hand money over to you short of pointing a gun at them, that is. And here it is:

People (Customers) Will Give You Money Only As A Means of Getting Whatever It Is They Want
For you to be rich, you must understand what exactly people want. Note that this may sound particularly obvious and very simple. Yet, not understanding this apparently obvious principle is the prime reason most people do not make enough money. People will always pay you or enrich you if you closely meet their needs and desires or remove frustrations, fears, and concerns. What successful people do is use all their energy to know and understand what people need. They do this through their research, their experience and their understanding of people.

What People Pay For
People will enrich you if you can do the following better than anyone else: *Make or save them money *Save them time *Supply them food, shelter or clothing

*Provide them with security, safety or comfort *Offer them leisure or entertainment, affection, friendship or sense of belonging *Give them status, prestige or self respect *Add value to their lives

What then is a Business Opportunity?
Simple. It is the opportunity to fill those identified human needs that necessitate the setting up of businesses. So, look around you and ask yourself questions such as: can I offer a better, quicker, fresher, cheaper, hotter, colder, tastier, safer, warmer, smarter, more durable, more comfortable, more prestigious, more enjoyable, more relaxing, less stressful, healthier, improved, high quality (and so forth) product and service than anybody else? If you answered „yes‟ to any of these questions, this is how great opportunities are spotted and successful businesses are created. Create a better idea to satisfy peoples‟ need. This will be the cornerstone of your success.

10 Ways to Get New Product Ideas
by Anton Cheranev, www.atargetedvisitors.com. 1. Solve an existing problem for people. There are thousands of problems in the world. Create a product that can provide a solution to one of those problems. 2. Find out what's the current hot trend. You can find out what the new trends are by watching T.V, reading magazines and surfing the net. Just create a product that's related to the current hot trend. 3. Improve a product that is already on the market. You see products at home, in ads, at stores etc. Just take a product that's already out there and improve it. 4. Create a new niche for a current product. You can set yourself apart from your competition by creating a niche. Your product could be faster, bigger, smaller, or quicker than you competitor's product. 5. Add on to an existing product. You could package your current product with other related products. For example, you could package a football with a team jersey and football cards. 6. Reincarnate an older product. Maybe you have a book that's out of print and is no longer being sold. You could change the title, design a new front cover, and bring some of the old content up to date. 7. Ask your current customers. You could contact some of your existing customers by phone or e-mail

and ask them what kind of new products they would like to see on the market. 8. Combine two or more products together to create a new one. For example, you could take a brief case and add a thermos compartment inside to keep a drink hot or cold. 9. Survey the people who visit your web site. You could post a survey or questionnaire on your web site. Ask visitors what kind of products they would like to see on the market. 10. You could create a new market for your existing product. For example, if you're selling plastic bottles to a pop company, you could turn around and sell those bottles to a fruit drink company.

How to Come Up With Money-Making Ideas
Discovering Yourself Everyone is different with different skills and talents. Your ideas will be different from mine. In this e-book, you‟ll learn some standard means and methods for packaging your ideas in proven ways to not only earn the money you need, but also give the public what they want. Step 1: Take an Inventory It all starts with you assessing your resources. What talents, abilities, strengths and tools do you have? Are you good at sales? Do you communicate well with people? Can you write? Do you have a flair for the artistic? Do you have a unique skill or ability that others do not? Do you know how to sell things on eBay and Amazon? Write down all your skills and talents. Then write down all the physical resources you have. Do you own a computer? Do you have a color printer or a scanner or a digital camera? Can you burn CD‟s or DVD‟s? Do you have an unlimited long distance plan? Do you have one of those little gadgets that can record a phone call? Perhaps you have a cell phone? A parcel of land? A van? A pickup truck? Write it all down – write down anything of value that you have that could be used as a resource. Now, think about your friends and family. What do they possess that you have access to? Do you know someone who is a fantastic marketer? Do you know someone who is a copywriter? A lawyer? A mechanic? A chef? Everyone you know is a resource to you. You are not an island! You have access to the talents, skills and resources of everyone around you. You may have to give them something to gain access to what they have, but their knowledge, skills and resources are available to you. So as you assess your resources, look beyond yourself! When you think creatively, you make the pie bigger for you and those around you.

Step 2: Brainstorm Money-Making Ideas Now that you have your list of resources in front of you on a sheet of paper, read over them and start asking yourself: “How can I use these resources to make money?” “How can I bundle these talents, tools or things to create products or services that people want?” “Who needs what I have or know and how could I fulfil their need?” Brainstorm a list of at least ten ideas that have the potential for making money. Take some time if you need it. Carry this list around in your pocket or purse and as you think of ideas, add them to the list. Step 3: Evaluate Your List Now that you have the ten or more ideas listed, you‟ll want to select the one(s) that fit with your overall mission or theme. By now, you should have created a mission statement for your life. Whatever income streams you decide to implement, make sure they fit with your overall mission. Anytime you develop a new product or service, you should evaluate it against your mission to see if it fits. Sometimes, most entrepreneurs don‟t stop to consider this and run off in a direction that feels right without necessarily evaluating it against their mission. So, as you evaluate your ideas, open your mind a bit to the possibilities. Do try to stick with a theme, but evaluate things against who YOU are, not against what your BUSINESS is today. Your business may change, but who you are at the core – what your mission is – should expand and augment on a central unwavering theme. Step 4: Keep a Record of All Your Ideas Keep a log of the ideas you come up with. The timing may be off on some of them. You may not have the resources or connections you need to accomplish them. But that doesn‟t mean that they aren‟t inspired. Their perfect time may be a year or two from now. So keep a log of all your ideas, you‟ll find them resurfacing in the exact moment you need them. If you‟ve kept a log, it will be that much easier for you to jog your memory. Select one or two ideas and pick the one that is the most logical next step. Which one would be easiest for you to implement? Which one gets you the most excited? Which one feels the best and is most in line with your mission? Start with that one and move forward a step at a time. If there are things missing that you‟ll need, start with what you have and trust that what you need will come to you, as you need it. For further help in this regard, check out one of the e-books in your package titled, „The Ultimate Million Dollar Idea Generator.‟ You‟ll be glad you did. TIP: Listen to customer complaints. The propensity is to get defensive because your feelings have been hurt but instead of trying to explain to every complaining customer, start to seriously consider every complaint you receive. After all, if one person complains, then there could be hundreds who have the same problem who didn‟t take the time to say anything. Once you start doing this, some of your very best improvements, ideas and money-makers would start coming from listening to customer complaints.

Step 5: Don’t Be a One-Hit Wonder Once you‟ve created one product, immediately put into place back end products. For example, if you‟ve got a product that cleans the fuel system of a car like nothing else, then write an e-book on car care secrets. Something like, “Everything You Need to Know to Make Your Car Last 10 Years Longer.” You could sell it as an e-book. You could offer it as a seminar. You could create a car care video and demonstrate all the ways to self-repair and maintain your car so that it lasts 10 years longer. You could have a car care email newsletter that helps you stay in contact with new customers so you can announce new products and services as they‟re developed.

4 Failure-Proof Ways to Turn your Ideas into Non-Stop Cash Generators
1) Sell Your Idea 2) License your Idea 3) Convert Your Idea into a Business 4) Convert Your Idea(s) into an Information Product

1) How to Sell Your Idea for Money
You already know that ideas are money and I taught you how to come up with money-making ideas earlier in this manual, so, go ahead and get one. That is the seed that will make you a millionaire. Once you have a solid idea, the next thing is for you to know how to sow the idea so that you will reap cash in return. Now, there are several ways of selling your idea. You could approach a company with your idea and if they are interested in it, they will come up with your asking price and implement the idea to make profit in their business. For that to happen, however, your idea must either be able to save the company money or create ways for them to make more money. For more information on selling your ideas for money, check out the e-book titled: „Creating Wealth from Ideas.‟ It‟s one of the e-books in your package.

2) Licensing Your Idea for Money
Instead of out rightly selling your idea for a one-time payment, you can decide to licence it and ask for royalties. Each time your idea generates money; you get a cut of the revenue. For example, an American created a device for testing batteries. It is right there in each pack. The idea pulled in an estimated extra $100m sale the first year it was introduced. And an agreed percentage of that revenue went to the inventor

that year and every year since then. Using this same concept, a geeky computer nerd named Bill Gates and his fledging company, Microsoft paid $50,000 to buy the exclusive rights to a new computer program called DOS, the disk operating system for minicomputers. The year was 1979. It would turn out to be the deal of the millennium. Gates then licensed the nonexclusive rights for DOS to IBM to use in its very first minicomputer, the PC. Note, he didn‟t sell it to IBM, he licensed it to IBM. He also licensed it to manufacturers of IBM clones. That simple, shrewd decision is the reason the market value of Microsoft is greater than the market value of IBM, General Motors, and most of Fortune 500 companies. From zero to billions in about 10 years. Bill Gates is the richest human being on the planet. Enough of foreign examples. You can license your idea right here in Nigeria. If you are still in doubt, consider this example. Back in the late 80s, Cadbury‟s Bournvita had a program on television called Match of the Week. The program involved televising the top game in the Nigerian football league each week. What you probably didn‟t know was that a company created the concept and sold the idea to Cadbury not for a one-time payment but for an agreed royalty for as long as the program was running. In these examples, you have seen how ideas have been converted into cash without the creators lifting a finger. You can also do the same. It‟s just a matter of coming up with a creative idea that will make a company more money and introduce it them.

3) Converting Your Ideas Into a Business
First things first The very first thing you need to do, once you come up with a business idea is to research it. Is there a market for the product or service idea? How much are people willing to pay for the product or service, once created? Will it be profitable in the long run? Etc. If you take your time to thoroughly research your idea, you would save yourself the heartache and frustration of creating a service or product nobody is willing to buy. If you get to know through your research that your idea is not going to be profitable, simply drop it for another, God has given each and everyone of us a storehouse of ideas, so, if one does not work, switch to another. Now, how do you research your idea?

How to Research Your Business Idea
Behind every successful business you'll find at least one great idea. For most people, the definition of a successful business is one which is profitable, and a profitable business is built upon ideas that have been properly researched. Here are some steps you can take to research your idea and turn it into a profitable business:

1. Make a list of the reasons why you want to go into business for yourself. Look at your list critically. Does starting your own business help you realize these things? 2. Make a list of the things you like to do with your time. Success can be elusive if you're not truly excited about your business. What are your interests and hobbies? What are you good at? What do other people say you are good at? This list represents broad business models which will give you the greatest joy over time. Decide which item(s) on your list you would most like to develop into a business. 3. Focus on filling a niche. It is your expertise, uniquely practiced and applied within your business field, that creates your niche in the market. Throughout the research stage of your idea, pay close attention to how your business can fill a niche. 4. Talk to friends or family who own or work in a similar business. Get their input on your idea. What needs improved on? Why should it be improved and how? Talk to business owners in neighboring towns - so you won't be perceived as a competitor and get their input on your idea. These people will likely have insights you never considered. 5. Participate in discussion forums. This is a great way to take the pulse of your potential customers. You can also see trends, get feedback, and establish working relationships with like-minded people. 6. Evaluate the demand for your product or service. You need to understand the pace and direction of your industry. This understanding alerts you to shortcomings with your idea and helps you channel your energies correctly. It also helps you approach your business with innovation and vision. 7. Research businesses in your surrounding area in order to size up the competition. Look for ways you can gain a business advantage over your competitors. Ask yourself how your business will be better and different. 8. Visit your competitors online. 9. Define the operation of your business. Here are some key questions you should answer: What skills and experience do you bring into the business? What are your fixed costs and expenses? How long will it take to make a profit? What laws do you need to comply with? If you need financing where will you get it? Do you need insurance coverage specific to your business? 10. With the information gathered from the steps above, you now have the means to begin writing a comprehensive business and marketing plan. For help in this area, get my ‘Start Your Dream Biz Toolkit’. It will put you through fast and easily.

For further details on the toolkit, my list of 15 super bonuses as well as what you stand to gain from it, visit http://www.startyourdreambiz.com/toolkit. Don‟t delay one bit. At the root level, the small business owner has a burning desire to succeed, a "never quit" attitude, and the ability to attract and implement needed resources. All you have to do is throw your research and planning into the mix and you're well on your way to building a successful business.

How To Build a Successful Business
Building your business is like building a house. If you want a sturdy house, you must start with a solid foundation and then add robust walls and a protective roof. The Foundation: Residual Income In business, the most secure foundation you can have is one built around residual income. Residual income is something that keeps coming in, month-after-month and year-after-year. It‟s not like a job where you have to go to work every day in order to get paid. Residual income keeps coming in without you having to add more work – or at least it should take very little effort to maintain. It could come from a variety of sources. You could have one, two, three or more residual income streams. The more you have, the sounder your foundation. A very good example of this is the software I use for my email communication. Every month, I pay the owner for using it, so, instead of a one-off payment end up paying for as long as I want to use the service. For the owner of the software, this is good business because he created it once but he is profiting from it for as long as people want and use the service. Having this type of residual income insures that you can meet your monthly fixed costs associated with your business and your life. Without it, you are at the mercy of seasonal business fluctuations. Every business has peaks and valleys. For example, more toys are sold at Christmas than any other time of the year. More people take training classes between February and November every year than they do in the holidays or Christmas period. If all you have to depend upon are seasonal revenues to carry you through the lean months, then you better be good at saving for a rainy day. It‟s better to build a residual income that flows relatively consistently throughout the year. Let me give you an example to drive the point home faster. Let‟s say you own a carpet cleaning business. You could sell a carpet protection plan that your customers automatically pay for every month. Then when they get a horrible spill or stain, they could call you and you come out and take care of it. Yet another example is the monthly movie rental plan that Blockbuster has where you pay a flat $29/month and you can switch out any two movies anytime you want and take them back whenever you want. By having a consistent residual income, you can easily predict what your cash flow for the next month, six months or even year will be. You can plan better and when you get your residual high enough, then additional sales are like “icing on the cake.”

Another way to build a residual income is through commissions. Insurance agents have residual incomes from the people who constantly renew their auto, home or health insurance. Advert agents also get consistent commissions on any adverts they take to media houses. Network Marketing is another way to build a residual income. For example, if you have enough customers purchasing products each and every month, then you know you have a consistent income. When looking for a residual income stream, keep these things in mind: Look for ones that require the least amount of ongoing effort. Find ones that reward you for your efforts. If you have the time to put more effort in, make sure that you‟ll reap even more and increase your ongoing residual. Look for ones that are like a snowball kicked down a hill. They may start small, but they have the potential to continue to grow long term. If you‟ll be working with another company, make sure it is a reputable and wellestablished company with clear policies and procedures and consistently pays on time. The Walls: An Assortment of Products and Services The walls of your business are the various individual products and services you have to offer. Individual e-books, books, CD sets, videos, widgets, gadgets and services that are sold separately help to bring additional income on top of your residual income. Sales of these items could fluctuate throughout the year. For example, training classes might be held predominantly between February and November every year. Some books might have more appeal during a holiday like Christmas, Mother‟s Day or Father‟s Day. Other products and services might have appeal year round, but you can‟t count on them to sell a steady flow. Any income stream that brings in more than it costs you is worth adding to your collection. They can be virtual products, tangible products or simply services. For example, in your business as a computer trainer, you could branch out into programming. You‟d train someone on WordPerfect, and then she‟d get an office job and tell her employer about your training services. Then, the employer would hire you to train a few more of their people. Perhaps they would even hire you to come in and create a series of macros that would streamline their office tasks. Any of these services comprise the walls of your business. Now, if you‟re business-savvy, you could sell the office a support and training package where they would have kept you on retainer ship for a flat amount each month. Then they could call you for tech support at anytime and had you come out for X number of hours per month to help their staff with any problems, questions or program issues. That service would have been a residual income and a foundational income stream. The Roof: Product Bundles The roof in our analogy is product bundles. An example of a product bundle is when you combine a book, a workbook and a CD for one price that is less than what the person would pay separately for each individual product. Product bundles may be sold as memberships, subscriptions or packages. If you‟re an author, you can often tape interviews or seminars and put them on CD‟s and bundle them with your book. You

could either charge for the package or you could use them as incentives like “Buy the book and get the CD for free.” If you bundle your products and services correctly, you‟ll appeal to those who want “the best” and “the most” because bundles have a higher perceived value than individual products do alone. TIP: Never give people more than two to three bundle choices. If you give people too many choices, they‟ll get confused, and they‟ll leave without buying anything. Most likely, you‟ll start your business with one or two products or services. Then, you should ask yourself what else you could do to service your customers. Do they need training and support? Do they need complimentary products? If you‟re brand new in a business, the foundation you have could be your day job or your spouse‟ income. Then when you‟ve developed enough products and services, you can create residual income with memberships, subscriptions and service contracts. Or you might do some network marketing on the side to bring in a steady flow of residual income. Once you‟ve developed several products and services, sit down and brainstorm on ways you can bundle different products and services together to meet specific market needs. You can compile your bundles around market segments. For example, you might have a small business package, an Internet entrepreneur package, a bundle for women or a bundle for men, a bundle for animal lovers or health nuts. Brainstorm on ways you can repackage your products to meet different market segments. In summary, if we compare your business to a solid house, the foundation is comprised of residual income streams. These might be ongoing commissions or annuities you receive from some form of network marketing business or insurance sales or it could be subscription or membership renewals. Anything that smoothes out your cash flow and gives you something to cover ongoing fixed expenses with certainty is a foundation for your business. Next are the walls. The walls of your business are comprised of individual products and services – like pillars on the Parthenon holding it up. The more products and services you have, the more times a typical customer will come back to purchase from you. It costs money to acquire a new customer. Once obtained, the expense diminishes if you have more back-end products to offer. Lastly is the roof. The roof of your business is constructed of product bundles. These could be bundles for specific niche markets. If you sold gift baskets for instance, you might have a “New Baby” gift basket, a “Stressed Out Mom” gift basket, or a “Super Bowl Sunday” basket. Bundling collections of products in different ways to reach different markets comprises your roof. Put these three into place, and you have a business that is resilient against economic downturn, changes in marketing venues, and variations in technology. Granted, you‟ll have to continue to adapt. A business centred around horse shoes, buggy whips, buggy wheels and horses may have been a solid business in the 1800‟s, but it wouldn‟t be today. You still have to adapt and always be creating new products and services for today‟s market. But if you avoid stagnation, your business will always be evolving with your customers‟ needs, and you‟ll continue to succeed. Having considered the foundation, walls and roof of building a successful business, let‟s now look at what exactly you need to turn your ideas into a business.

How Do I Start a Business?
1) Understand the Business Look for books about your desired business and read them cover-to-cover. There are several books that profile different kinds of business, get them and read them thoroughly, educate yourself about the business you want to start. Meet other people doing the same kind of business; the Internet will help you find them quickly. You can also find similar businesses in non-competing areas, call them and ask the owners for advice. For example, if you want to start a dry-cleaning business in Nigeria, call a Lagos drycleaner to learn about the business. Once you‟ve got the business owner on the phone, you need to learn the basics of the business plus any hints about being a success. Ask the following questions: What things do you need to run the business? A restaurant, for instance, needs ovens, a stove, cookware, dishes, a storefront, tables and chairs. What kind of people do you need to run the business? A restaurant needs a waiter, a cashier, a cook, a dishwasher, a bartender, and so on. What are the business‟ major expenses? Most businesses pay rent, electricity, gas, and advertising. A restaurant also buys food, and drinks while a hardware store would nee to buy inventory. Where does the money come from? Restaurants make money from eat-in customers, take-away customers, delivery, catering, and bar sales. What are the stumbling blocks that cause new people in the industry to fail? What is absolutely necessary for success? 2) Prepare a Business Plan. This plan will guide your examination of potential expenses and income, and you may learn surprising things about your business. For example, you may find that some restaurants make nothing on food but all their profit comes from drinks. Other restaurants make all their money on catering. Once you have seen the range, you can decide which one is best for you. Don‟t copy a sample business plan‟s numbers directly, though. Change them to suit your area and market. Rent in Lagos is different from rent in Sokoto. Any business whose primary expense is rent will have to be run differently in the two cities. 3) Develop a backup plan. Many businesses today ail due to undercapitalization. Forecast the cash you need for both your business and your living expenses and have backup sources for money in case you get into a jam. Also, have a plan B in place, in case your entrepreneurial dreams hit the rock. This is life, you know and anything can happen, things may not work out the way you planned it, so it‟s necessary to have a plan B to fall back on. By all means follow this advice, don‟t treat it with kid gloves, it will save you a lot of heartache and frustration. 4) Don’t take the leap until you’re ready. Before you even think about quitting your day job, make sure you have everything in place: a solid business plan, enough capital to make the business successful, a savings account to cover

personal living expenses, insurance, (medical, dental, liability, and any other required policies) a thorough understanding of what you‟re in for, a backup plan if things don‟t go as expected, and the passion to make it succeed. Unfortunately, there are no guarantees in business. You could have a solid rock business plan but be hit with a natural disaster, new competition in your area, or other uncontrollable circumstances. As long as you don‟t invest more than you can afford to lose and your business is carefully planned, you can minimize many of the risks and increase your chances of success. 5) Start part-time. There are numerous advantages to starting your business part-time. If you can find a way to keep your day job while you launch your venture, you will have the opportunity to test your business model and make sure it is viable while you evaluate your passion for the business and determine if it‟s something you would truly enjoy on a full-time basis. 6) Make it happen. To make the business come alive, you nee to gather the people, raise the money, rent the building and buy the supplies. You‟ll be doing all these at once, but money will usually need to come first. There are many ways to raise money; some of them are treated at length in my „Start Your Dream Biz Toolkit.‟ You can get a copy by visiting: http://startyourdreambiz.com/toolkit. I want to however say you may not need to assemble a team, get an office, raise a lot of money for certain types of businesses, so, understand the business you want to start and get what you need accordingly. Some businesses today can be started with just a phone line and your email address. You will also want to talk to a lawyer who knows your kind of business. There may be some licensing or health requirements to be taken into account.

4: Transforming Your Ideas Into Highly Profitable Information Products
This is one area of transforming ideas into cash that I really enjoy talking about, I‟m passionate about it. Why? you may ask. It‟s the perfect and legal way to become a millionaire even I you think your ideas are worthless! To be sincere with you, information products are the ideal business to start if you are looking for an online business. They are easy to produce, simple to ship, and can enjoy high markups because people are not paying for the physical form the product is delivered in. They are paying for the valuable information contained within. Although most people only see reports and books when we speak of information products, I want you to see just how versatile this market can be. You could produce software, videos, audios, newsletters, secret sites, e-books, reports, seminars and more. The only limitations in this business are the ones you create yourself. But then, what are information products? Strictly speaking, information products include all books, reports etc. In the Internet context, the term refers to electronically deliverable, knowledge-based products.

Information products are also referred to as "digital goods" and "knowledge-based goods".If it delivers knowledge and you can e-mail it to the customer or offer it as a downloadable file, then it qualifies as an information product. As I earlier mentioned, the beauty of virtual and information products is that they have a high-perceived value and a high profit margin. They cost very little to produce, but you can sell them for what the marketplace will bear. The additional power of virtual products is that you can sell to a thousand people as easily as you can sell to one. You put a downloadable product on your Web site and then sell it as many times as you like with very little cost involved. In order to sell a virtual product, you mainly need some way of taking payments. You can use services like PayPal or ClickBank for this. Paypal will let you sell either real or virtual products while ClickBank is for virtual products only. Paypal will also keep track of recurring subscription payments for you whereas ClickBank does not. The main benefit to Clickbank is that people do not need a Paypal account to pay. They can use a regular credit card. Also, Clickbank has an affiliate program that automatically keeps track of people selling your virtual product and pays them for you. This payment method is for you if you are selling to the international market. If your target is the Nigerian market, all you need to collect your money is either your savings or current account in any Nigerian bank. Period. Virtual products utilize what I call the multiplier effect wherein you create once and sell many. For example, if you give a seminar, you can charge people to attend the class. You can record the class and make it available on CD or via download from your Web site. You can also transcribe the class into a book or e-book and sell it that way. You‟ve created the material once, but you‟re selling it many times, to many people in many ways. To build a bullet-proof business, you want to use the multiplier principle as many times as you can. As you continue reading this manual, I‟ll talk about ways to repackage the same information and distribute it to the public. I‟ll be discussing things that take some technical expertise to perform. Please note however that this is not intended to be a how-to technical manual on publishing or Web design. My intention here is to give you a cursory overview as to what is available to you. If you have a bit of technical savvy, then this information will point you in the right direction so that you can be off and running. For those who aren‟t technologically endowed, there are experts who can help you with the nitty-gritty details of programming or design. My purpose here is to tell you what‟s possible, so you‟ll know what direction to take and what questions to ask when you interact with a programmer or designer. Self-Publishing It may take some additional software or technology to make your books, CD‟s, videos and e-books look professional, but self-publishing is a great way to test new products and get them to market faster than going through traditional publishing channels. A traditional book publisher could take 6 to 18-months to release a book. If your information is time-sensitive, it could be obsolete by the time it gets to print. Also, traditional publishers pay only a small percentage to the author – around 9%-10%.

Self-publishing offers larger profit margins. The primary benefit to going with a traditional publisher is that they can get your book out to a larger audience through their distribution channels. They also may hire a publicist to help you get press coverage. But, you‟ll still have to do a lot of your own marketing. If your book doesn‟t take off within the first 90 days, they may cut their losses and spend no additional time or money on promoting it. If you decide to self-publish, you‟ll first want to determine the format – electronic or printed. E-books Electronic versions of your book have several benefits, which include: *They have very little cost associated with them. *Thousands are as simple to sell as one. *Fulfilment is instantaneous and doesn‟t require labour on your part. *There are no shipping costs. *You can literally make money while you sleep! The drawbacks to e-books include: *Not everyone is willing to read a book online or print it themselves, so you could miss out on sales by limiting yourself to only an electronic version. *There are several e-book formats, and you may need to learn to produce versions in Adobe, Palm Pilot and for other PDA‟s. Creation Assuming you‟ve got your e-book written, the next step is to save it into the format(s), which can be read by others. Adobe Reader is the format of choice for most desktop computer users. Microsoft Reader is common for PDA‟s and many people have Palm Pilots. Adobe Format To create an Adobe PDF file that can be read by Adobe Reader, you‟ll need the Adobe Writer software. This software costs in the $200 range, or you can go to the http://www.adobe.com site and click the link for Create Adobe PDF Online. They‟ll let you create 5 Adobe files for free and then they have a service available where you can pay $9.99/month to create as many as you want. If you‟ll be creating printed books or need more versatile desktop publishing features, consider purchasing Adobe PageMaker and the Acrobat Writer comes with it. Sometimes you can find individuals selling a PDF Creator for very low prices on EBay. So start there. A free e-book creation software however comes with my „Instant Info Millionaires‟ Secrets Package.‟ For details of this e-book creator and other super-duper bonuses, send blank email to [email protected]. You‟ll be missing a lot if you don‟t send for this report NOW! Don‟t say I did not warn you.

Delivery Assuming you use either Paypal or Clickbank to sell and deliver your e-book, the process is fairly simple. You‟ll store your e-book on your Web site and then set the Paypal or Clickbank “thank you” page to automatically take the customer to a Web page on your site where they can download your e-book in their format of choice. Make sure you give them links for where they can download the Adobe Reader, Microsoft Reader or Palm Pilot software. If you manually process orders, you can always have a standard email you send to people once their order is processed that tells them where to go to download the e-book. Or it could have the e-book attached. Printed Books Your first step when creating a printed book is to obtain a block of ISBN‟s. ISBN numbers are gotten from the national library or http://www.isbn.org. Once you assign an ISBN to a book, you‟ll need to add it to their online database. When you apply for your ISBN‟s, they‟ll give you a username and password for their site where you can add your book(s) to their database. Once your book is added, it will automatically be listed in Books In Print – a catalog that bookstores use to order books. This way, if someone goes into a bookstore and asks for your book, the average bookseller can look it up and order it. The next step is finding your printer. Traditionally, you would have to do a print run of several thousand copies, which would cost thousands of naira, but today, with print on demand, creating a paperback book is faster and cheaper than ever. You can print one, ten, twenty or hundreds of books quickly and without tying up all your money in inventory that may or may not sell. You can even go to a printer yourself to quote for you if you don‟t have a large budget. If you‟re on a tight budget, are in a hurry, or you just want to see how sales go before you invest thousands of naira, consider print on demand. Distribution The hardest thing for most self-publishers is getting their books in bookstores. Major publishers actually buy shelf space in bookstores, so little guys have little or no possibility of receiving shelf space in a traditional bookstore – much less prominent placement. But it is possible to obtain virtual shelf space on Amazon, Barnes & Noble and BooksAMillion‟s Web sites. Just submit your book and see how it goes. If that approach fails, move on to another distributor. You‟ll find one that will agree to sell your book. Interesting Note: Did you know that you could actually get on the New York Times Best Seller List without your book being in brick and mortar bookstores? Get enough publicity – radio, print and TV promotion – and send people to Amazon or BarnesandNoble Online and those sales will count toward the New York Times Best Seller list! Once you‟ve hit that, you know every bookstore in the world will want your book on their shelf – self-published or not! Honestly, there is a lot more about information products than I can reveal here. It‟s the perfect and legal way to become a millionaire without lifting a finger! Did I hear you say, eh? You had better believe it and quickly send for a 100% free report that shows you how to make N5,000 plus daily from information products as well as 101

hot ideas you can instantly convert into information products and sell for stupendous profit anywhere in Nigeria! This report is 100% Guaranteeed to change your finances forever. Email: [email protected] for your report Now! Limited copies available. My aim constantly is to see you succeed, so, when I say I‟m „passionately committed to your success‟, know that I mean it with all my heart and that‟s why I want to give you the following success manuals absolutely F-R-E-E.

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1) How to Successfully Start Your Dream Business in Nigeria with Little or No Money. Visit: www.startyourdreambiz.com for instant download. 2) 10 Sure-Fire Steps to Achieving the Wealth and Success You Have Always Desired!!! Visit: www.achievewealthandsuccess.com for instant download. 3) Fail Faster To Succeed - And Other Contrarian Business Success Secrets. Send blank email to: [email protected]. 4) 7 Low-Cost Start-Up, Highly Profitable Businesses You Can Do Anywhere In Nigeria Without Quitting Your Present Job! Visit: http://hotbusinesses.startyourdreambiz.com for instant download.

Last line-Take the Plunge Now!
If you ask me why I chose the above headline for my last line, I honestly don‟t know but something tells me that you need to act on whatever information you have been exposed to in this e-book. You see, what you know does not matter but what you do with what you know determines your success or otherwise in life. You have been exposed to 4 failure-proof ways of transforming your ideas into non-stop cash generators; for God‟s sake, implement them and see how your bank account goes through a never-before-seen transformation. Ok, you can‟t implement all the 4 ways at once, that‟s no problem, just pick the one you can implement quickly and do something, by all means do something, you‟ll be glad you did.

Thank You For Reading, May the Almighty God Bless You!

The End.

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