“The Most Profitable Product In
by Craig Garber
The World You Can Ever Sell!”
Thank goodness, the most profitable product in the world you can ever sell... also happens to be the easiest product to create.
Can you guess what I'm talking about?
Well, that product is...
Let me give you some examples of what I mean: Most information is sold either through written words (books, e-books, magazines and newspapers)... pictures (DVD's and VHS tapes)... or through computer programs (like software).
And can you guess how much it costs to burn a DVD once your product is made? Or what it costs to assemble a book?
The exciting truth is, in most situations it costs literally less than $2 dollars. And... if you're selling stuff online, it gets even better, because...
Your disribution costs are even less!
Because if you're selling information that can be downloaded online by your buyer, outside of a few pennies on the dollar for your merchant account and maybe $25 to $35 dollars a month to keep your website going, your costs are virtually "ZERO"!
That's why selling "information" is the most profitable product in the world, you can ever sell.
Plus, the amount of money you can make selling information isn't limited to your store hours... your billable hours... or your inventory.
Just look at Microsoft. Last year they did over $32 Million Dollars in gross annual sales. Not a big deal, other companies are bigger. But... there are few (if any) companies this size, that also have over $49 Million Dollars of cash on-hand, and only a hair more than $1 Million Dollars in long-term liabilities.
I don't know how familiar you are with asset-to-liability ratios, but this is virtually unheardof.
It's because of how much cash their products generate and how little it costs them to make it. Just think about it: It costs you $199.99 to buy the new Windows XP Home system at Office Max. How much do you think it cost Microsoft to burn a few CD's and toss in a manual or 2?
Maybe $10 bucks?
Not bad, hey?
How can you use this to make money in your business?
Well, let's say you sell software. Most software isn't very easy to use, right out-of-the-box. And most of the manuals that come with software programs are horrible.
So how about if you produce an e-book or a DVD showing your customers how to use the software? Even if you only sold the book for $19.95 each, at almost 100% profit, it sure doesn't take long for this project to start lining your pockets with some serious extra cash, right?
And it's not like you need to do research to write the book or produce the DVD either. That's the beauty of this.
What if you're a massage therapist?
A book about "Top 10 Ways To Keep Your Back Nimble And Pain-Free" surely would be something your customers would want.
Maybe you could couple it with "5 Ways To Make Sure Your Golfing Game Doesn't Cost You More Than A Day Out: How To Eliminate Back Pain While Golfing"
Collect flowers as a hobby? How about a book identifying different flowers in different areas of the world? Or maybe you can reveal "The Secret Locations Of Rare Wild Flowers!"
What if you sell industrial-sized turbine motors? I bet a good VHS or DVD showing your customers how to use those motors, and how to keep them running maintenance-free, would be a big hit.
Maybe this is the way to go with it: "3 Ways To Avoid Costly Repairs To Your Turbine And How To Extend Its Life By As Much As 7 Years!"
You can pretty much come up with a related product for almost any business you have.
What's that you say -- you've got a land-based dry cleaners so you can't use this idea?
How about a book that explains how to remove certain stains from a variety of materials and carpeting, or maybe a video that explains the caring and storage of high-end wedding dresses.
Or even better, how about a book along with some software, for the dry-cleaning industry about how to increase profits and streamline losses, directed at other people who own dry-cleaning businesses?
You see, the possibilities are endless.
And remember, nothing is ever set in stone. Even if you can't sell your products, you can definitely give them away as premiums to your customers, to enhance the value of your goods and services.
For example, don't you think if you owned a pet shop, you'd have a better chance of selling your kitty litter if you gave away a FREE report along with every single purchase, called "7 Ways To Eliminate Cat Odor!"
Or, let's say you're an accountant -- wouldn't your clients love to know "How To Beat The IRS At Their Own Game!"
You could even use this technique if you're doing something that really makes everyone's hair stand up on the end of their arms: Like... what if you sell cemetery plots?
I bet you're customers would love to know, "Everything You Must Know, About Buying Cemetery Plots"
So before we wrap up, let's recap what you learned today:
First, the most profitable product to sell is information.
Second, you can sell information directly or indirectly related to what you do, to your customers and to new prospects.
And lastly, another thing you can do with information products is to start using them as premiums or bonuses to either entice new people into doing business with you, or to bundle along with your "real" products, enhancing their perceived value. This gives you the "edge" in selling for higher prices than you are now.
P.S. There's also no "limit" on what people will pay for information. And the truth is, the more "niched" your information is... the more it'll be worth!