Creating info products is the way?

Agree. If its long term revenue that you are looking for, you need have quality products that last long (which rarely happens coz IM world is so fast changing)

Willie speaks from experience, after the dismal of his step-by-step nostril hair trimming guide. He was sure everyone would flock to buy it, especially with all the beautiful up-nostril pictures. Alas, it was not to be. If you do a reverse popularity search on CB, you can find it at number one - right next to Paul Myers' guide for rednecks and table manners.

Having your own products gives you certain advantages in terms
of positioning and leverage.

Product creation is a good exercise. You wouldn't expect to master
any skill the first time you gave it a go, but with practice anybody
will improve.

It's also important, if undertaking a major project, to make sure there
is a good market for it you can reach and compete in.

That said, there's a lot to be said for just doin' it so so you some
chops in info-product creation. Your first efforts probably won't
be grand slams, but in selling them you'll get valuable feedback
from the marketplace that will help you make more informed choices
in the future.

As in most areas of business, and life, discernment comes from
experience and education. As your own develops you'll perceive
opportunities you did not see before and also, due to your experience,
have the skills and confidence to exploit those opportunities.

Having your own product gives you control. If you are purely selling affiliate products, you are under the control of the product vendors.

Actually I don't completely agree. Product creation is an excellent thing. There is no subject new under the sun. There have been products created for everything. Just because someone has written an ebook on something in the IM niche, doesn't mean someone else can't write a valuable ebook on the same subject with a different take on it. I might not like your style but enjoy reading someone elses style on the same subject.

Creating a business that fulfills an unmet need or desire in an identifiable and reachable group is the way...

Information is definitely a great business because...

1. Increasingly we see information, knowledge, experience as the new currency in today's society, so it stands to reason that offering people information is certainly in demand

2. The barrier to entry into the business is extremely low. It is fast to test or put together a product, it is often inexpensive given how accessible technology is to anyone at home these days (computers, software, internet connection are about all you need).

3. The internet means that marketing and distribution of information products is extremely low cost which means as long as you understand the key to increasing the value associated with your infoproduct, your profits can be massive

4. Partnership models and tracking...one of the excellent aspects of running a business on the internet selling a product of your own is that you can easily (with a Clickbank account for example) offer major authority players in your market the ability to promote your product in return for a share of the profits. This is powerful - you leverage existing internet marketing power & build an army of sales people virtually working for you

5. Sky is the limit...my favorite part of being in the information product business is that each product brings customers who will actually TELL YOU what additional products and services they need or want.

I started out selling 1 ebook, after getting many of the same questions I wrote a second and conducted a series of audio interview which became a $97 course - after getting requests for ongoing help I started a membership site and then a 1:1 and group coaching program - suddenly you can have multiple products ranging from $27 ebooks to $10K coaching programs - pretty awesome!

All of that said, you MUST pay attention to some very strict rules:

1. You MUST understand your market & know what they want
2. You MUST test or research that they are willing to pay for your solution
3. You MUST offer information that gets results NOT just general information or you will not make very much money
4. You MUST commit to learn the principles of marketing - that will help understand how to pick your markets, choose your topics, construct your value proposition and get your word out to the market better than your competition
5. You MUST have the passion, marketing mindset and self-confidence to consistently try new things and redirect until you hit success

For me, there is no EASY way to make money, but what is great about infoproducts is that when you get it right, they will sell for months and years into the future - so you leverage weeks of your time now for years of profit.

Jeff

Something else to think about - once you have your own infoproduct and have some initial momentum, your product "brands" you an expert in your field which suddenly makes you more credible as someone who recommends other products (in other words, affiliate marketing becomes easier) and new revenue opportuntiies emerge such as offering ongoing subscription services, consulting services, seminars, etc...

Having your own product (assuming you do a good job of getting your market's attention & have a decent product) is a great catalyst to opening new opportunities and profit.

Jeff