Product Creation -Why?
Product creation is absolutely essential if you are serious about making real money online. It is literally the key to a successful Internet Business..
That's not to say there aren't exceptions of course, but if you look at those who have had success and made fortunes on the internet, a majority of them made it because they bit the bullet, and created their own product, and sold it for profits.
You’re Product, You Have Control…
Creating your OWN product gives you control, you are the owner and have the ability to:
- run the show
- decide how, when, where to use the product
- control the sales process
- make any changes you want
- control the price
- control the marketing
- control product development
- sales copy
- design sales page
- deign landing page
- design squeeze page
- add to the product
- improve the product
- offer rights to you product such as PLR,
- in fact you can do anything with it, it’s yours.
Have Knowledge of your subject
If you have knowledge of a particular subject you have the basis to develop a product relating to that subject.
It is really important when you develop a product that you provide something that will benefit the people in your niche market, therefore you do require knowledge of your subject, the longevity and your ability to provide a service to your customers requires that you have a good knowledge of your subject.
It does not mean necessarily you have to be an expert initially, but you will find that by developing your knowledge further you will be in a position where you are able to produce more products and provide better information to a point that you can be considered an expert.
Building your knowledge
One of the great things about the internet is that there is information on just about any subject, and this gives you the ability to improve your knowledge exponentially for virtually no cost, so if you have found your subject/niche then search the information available and learn.
This can give you four things,
- It will increase your knowledge of your subject
- It will give you an insight into the subject and open potential markets for you to explore within your subject
- It will give you potential material to use to form your products
- It will enable you to explore others involved in your market
Warning; Do not copy other peoples work, use it to learn only, write your own version of your subject in your own words. You can be sued for copyright infringement.
So, what products can be developed?
- Training programs
- Video course
- Audio series
- How to article series
- Membership sites
- Coaching programs
- Almost anything you want to do.
Even create a package that include several of the above, it is important that you give value to your customers to be able to get them to part with their hard earned cash and to keep them interested.
Selling The Rights To Your Product
You can sell:
- resell rights,
- master resell rights,
- private label rights
For your own products, you can sell the rights as above to your customers to resell to their customers or even give them the rights to change the product and call it their own.
This gives your product a much greater perceived value to your customer, and without really doing anything you can turn one product into four!!!
You have the product itself, then the resell rights, then the master resell rights, and the private label rights, and all of these can be offered at a different price entry to your product.
The beauty with this is that you can sell the rights at a far greater price than the original single price offered for the product.
What does this all mean to you?
The difference between these rights can be a little confusing and the terms appear similar however, they aren’t. Look at the differences below:
Resell Rights (RR)
If you purchase a product that comes with resell rights, you have the right to resell the product ‘as is' in conjunction with the terms and conditions of the license that came with the product.
Usually this means that you are not allowed to alter, edit, or in any way change the product, and you may not claim it as being your own.
However be sure to check the license, there may be some specific rule in your license as they are not all the same. For example, some products are not allowed to be given away or offered for free on membership websites to entice people to join, others may say that you can do whatever you want so be careful and stick within the rules, it can get expensive if you don’t.
Master Resell Rights(MRR)
There is one big difference between resell rights and master resell rights. While resell rights allow you the right to resell the product, master resell rights allow you to resell the product along with the resell rights. This is powerful combination for potential buyers who also make a living selling to others. Because with master rights, they can use your product for themselves plus they can include it in their product line to generate extra income. And just as with resell rights, make sure to look closer at the license that comes with the product. There may be limitations about where you can sell and not be allowed to add unlimited products to a membership site
Private Label Rights (PLR)
This is considered the top level of all “Product Rights”
Known as PLR, you have the rights to:
- change the product as you like
- claim authorship,
- adding your own name or company name on the product
- claim authorship or originator,
- change paragraph order,
- sentence structure,
- insert other paragraphs,
- change graphics,
- Change ads,
- do whatever you want to the product.
- break the product down into several different products,
- change sales materials,
- Don’t do anything and promote it purely as your own.
Private Label Rights can save a lot of time, money, energy and hard work creating new products, hence great value for other people to use.
Private Label Rights products usually come with marketing materials that you can change to suit your needs, and they often come with a fully functional website, sales copy, articles and autoresponder series, but is not essential.
This is by far the best package for re-users to get hold of, but should be offered at a much higher price than the original product, and other rights products.
In all instances there will be a restriction with selling the PLR rights, you have the rights to sell the resell rights and the master resell rights but not the private label rights.
You need to ensure that you supply an easily understood license document with your download when you sell the rights to any of your products.
There is another level and this is targeted at the developer who can use the product to enhance their customers businesses.
This is generally called Developer Rights and usually allows the developer to add a product to a clients business site, for example a plugin developed for some kind of website enhancement maybe purchased by a developer and used on their clients websites.
Having your own product is by far the best option for any internet business, consider this option carefully and act if you can. It does not matter if you have a digital product of a physical product, an eBook or a washing machine, if you have a product to sell you are in the box seat, so think it through and act now.