One of the benefits of selling information-based products, as opposed to tangible products, is that you can literally create a product out of thin air. It also means you can build a product that doesn’t cost much, other than some time and effort. This is great for those who sell knowledge (such as accountants and coaches) and want to add a passive income product to their suite of services.
To prove it’s possible, I’m going to outline the exact steps you need to take to build an information-based business using the tools of disruption we’ve already talked about — cloud, data, social and mobile, free or low-cost software and much more. There are some assumptions made, you may need some technical help and there will be some costs, but overall, you’ll find that it’s possible to build an online business without spending much money.
We will create three information-based products:
Our time starts now!
To begin, you need to get the basics sorted out:
Here’s a simple, step-by-step guide to building a website from scratch.