How,Create,Your,Own,Product,Se business, insurance How To Create Your Own Product Or Service (Part 2&am

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In the first installment to this series, we looked at creatingand marketing your own info product. I gave several concreteexamples of info products I created with very little investmentof time or money which sell with tremendous success. If youmissed that article, it's posted online at:http://williecrawford.com/limitless22november02.html In thisinstallment let's look at creating and marketing your ownservices.When looking at marketing your own services you shouldthoroughly examine, brainstorm, and tear apart severalcritical issues. These issues are:- What services are you qualified to offer- Will offering this service provide a good return on yourinvestment of time and money- Is this service suitable for leveraging by offering throughan affiliate program- Is there sufficient market for this service to offer a steadystream of customers long term- Can you develop a line of back-end products to increase therevenue stream from offering this serviceLet's briefly look at these issues.Most of us possess some unique talent that we can use tocreate a service and earn an income from sharing this talentwith others. Talents that come to mind immediately are webdesign, graphic design, copywriting, programming, data entry,script writing or installation, legal research, websiteoptimization, website promotion, diet counseling, fitnesscoaching, personal coaching and counseling, proofreadingservices, ghost writing services, and too many otherpossibilities to list here.All of these services can be and are marketed successfully overthe internet. Develop a reputation for delivering quality inany of these areas and you will get a steady stream of customers.When looking at what service you might offer as your own"product" also consider services that allow you to leverageyourself more. To do this I generally think of services thatcan be provided semi-automatically and delivered in an almostendless quantity. The distinction between product and servicemay get a little blurred here but that's ok. What are"services" that might fall within this category:- Pay for subscriber/lead services- Pay for website traffic/visitor services- Website submission or promotion services- Website monitoring services- Website translation services- Website hosting services (very competitive)- Remote script hosting services- Custom content provider services- Article writing or distribution services- List management services- Providing custom diet plans- Providing custom fitness plans- Personal financial management services... you get the idea. Think of services that you can generateand provide with the aid of software so that you really do havean unlimited supply. Look at how you can improve on existingservices or come up with totally new services. Realize that ifyou don't design your service properly you severely limit itsgrowth potential and the potential to offer back-end or add-onproducts or services.I recommend services where there is less competition due todifficulty in delivering the service. Difficulty in productdelivery as a barrier-to-entry is a good thing. It means it willbe longer before someone encroaches on your market. This allowsyou to perhaps price differently at first and harvest "monopolyprofits." Sorry - my economics training is slipping through :-)Many services are so generic that it's difficult to distinguishyour service in the mind of your potential customers. This makesyour service a commodity and many customers will buy largelybased on price. Web hosting is a commodity service thatimmediately comes to mind. To many customers, one web host isjust the same as all others. If you can distinguish your genericproduct in the mind of your potential customer by becoming knownfor superior quality or customer service then you no longer offera commodity. However, that takes a lot of very hard work and time.If you can offer a service FIRST or where there are fewercompetitors then your task is easier.When thinking of your service (or product) think in terms ofincome stream. If you are forced to constantly search fornew customers so that you can make a one-time sale, youseverely limit your growth potential. If your system bringsin customers who use your services over and over again, thenyou build in repeat business and a revenue "stream." Leadgeneration and traffic generation services are examples thatcome to mind. If you deliver quality traffic or leads thenyour customers will buy from you again and again.Along the same lines... if you can offer a range of differentlevels of service you increase your revenue stream andback-end sales. An example of this is Lead Factory (a serviceoffered by my friend Marty Foley). You pay for subscribersto your list. His system generates subscribers by presentingyour ezine or list subscribe boxes displayed on high trafficwebsites. Lead Factory offers a product line in that youcan specify the quality and demographics of the leads. Youcan specify that you only want leads from certain countries,or certain other demographics. You can get single opt-inleads, or for a little more, you can get double opt-in leads.Just by giving customers a few choices, this service comprisesa range of products and thus a product line. Satisfied customers,such as myself, use the service over and over generating a niceresidual income for the provider. Check out this excellentexample: http://williecrawford.com/cgi-bin k.cgi?subsA service that can be offered in unlimited supply can generallybe priced and scaled so that you can also market it throughan affiliate program. A service where you manually do most ofthe work can't generally be marketed successfully through anaffiliate program. If you are just selling your time and effortthen you generally don't want to share the revenue. Offeringa finders' fee or commission is possible with a personalizedservice but it needs to be "high-end" enough to allow you tocharge a premium price. The limiting factor will be thenumber of hours that you can spend delivering the service.My personal experience with marketing services is that Ioffered website and ezine promotion services. I also offeredwebsite optimization services. I found all of the above toolabor intensive for my personal preference. I also noticed thatmany relative newbies entered the market and offered cut-ratefees. I priced my services based upon the value I placed uponmy time and expertise. I noticed many people enter and leavethe website promotion and optimization business - I suspectfor the same reasons. Don't get trapped offering a servicethat under-values your time, effort and expertise.A service which really can't be duplicated because you areoffering "you" is consulting or coaching. If you have, orif you can develop expertise in an area, then this may be theperfect service for you to market. It can be marketed in manydifferent ways depending upon how you define the service.For example, you can market your expert knowledge throughtelephone consultations, audio and video tapes, and eventele-seminars. As you go from personal consultation to recordedpresentations, you go from service back to product but theyall tie together. Marketed properly, one will set you up tooffer the other as a backend product. For example, shorttelephone consultations will often show the customer that theyneed your longer videotaped or audiotaped presentations.Sometimes listening to an audiotape or tele-seminar will showa customer that he need to set up a personal consultation todiscuss to his specific situation more in-depth. Your expertisein effect becomes an entire product line.Creating your own product or service is how you earn the bigincomes online... especially if you use the leverage of anaffiliate program. Hopefully, this short series gave you thebasics of creating your own product or service. You now have agood start for launching your own informational product orservice. If you find that you do need one-on-one consultations,I do offer telephone consultations. Details are available at:http://williecrawford.com/consultations.htmlYou can see that I'm not offering you a lot of theory. I'mshowing you exactly how I generate and market both productsand services :-) Use these examples to examine the feasibilityof your own ideasTo your success.Willie Crawford Article Tags: Services Website