I know, because it happened with me several times, as well.
What is it?
It's a fact that you can earn money on the Internet if you promote other people's product. You are getting commissions, more or less. That's nice. This goes on for a while. After a time you want to put your business to the next level. You want to build your own business instead of other's. Okay!
You are smart enough to realize how important it is to have your own product. To own a product can be achieved on different legal ways. I.e. you buy rights to a product of someone else and sell that as yours. Or, you create your own product, put your name on it proudly, and sell that online.
Taking the latter case, that's why the title of this post is: How Long Do You Create Your Product?
Your answer may be: as long as you need to create that product, just so the end-product turns out to be perfect.
Let's see, that answer is correct, at least first sight. But this also may be the biggest trap you may entered. You're making your own sellable product. Your name is on it, so it should be perfect. That's quite understandable, there's nothing wrong with it. However, we arrived to the before said trap.
You are researching, compiling it, trying to make it perfect. This is a process, like refine this... change that... otherwise that would be better... hmmm, maybe not... sleep on it... take it out next week... next month, etc. etc. The result: it is never perfect. What follows from this: You Never Release That Product! You Never Make A Red Cent From It!
Yet. You get started it. You are knowing something about it. You want to share your knowledge. You are passionated about it. Of course, you want to make it to be the best. The PERFECT one. Something that has shaken the IM world. You get excited on that...
So, you write the first 10 -15 pages in one impetus. And... after a while you feel it should be a better one. You get frustrated because of it's imperfectness. So, you refine that first 10 - 15 pages again and again. And you get tired. At last, you lost your interest, and put it aside.
Why is the frustration? Because you don't get the expected, IMMEDIATE result. You feel it's not perfect. Yet, you wanted to write an info product of 123 pages. You imagine, that your product appears in NYT. Maybe they'll nominate it for some literary prize?? Ahhh... how nice would that be...
Ehh, a familiar story? Is there a way out of this trap?
Yeah. Firstly, you need to understand that there is no PERFECT product. (If I look in the mirror, I can realize that, anyway.) Just observe the big gun's activity. How they do it? They publish the version 1 of a product. Then they upgrade to version 2, version 3, and so on. Version 2010, version 2011. They make a truckload of money from start, later they use that money to develop that product further, so they fix the broken things.
NO, I don't want anyone to urge to produce worthless crap. Far from it. But, your buyers want a solution to their problem. When it received, they'll overlook a grammar error. They'll forgive if something is imperfect in your info product. To them the essence, is your product meet their needs.
Can you solve their problem? Can you spare time or money to them? Can you make their lives better? Give them what they want, and you do not need to worry about some minor imperfectness. You just do not be misleading.
One more thing, please. To write a 123 page ebook may be overwhelming to most people. It's not for everyone. You'll realize that in the writing process, if not earlier. But everyone can write 10 - 20 page report. They are short. It don't take to the eternity to write. And is less difficult to produce that.
Some math. You are able to sell a 123 page ebook for ca. $37 - $67 (depending on quality). Writing takes to you about 4 weeks. Say, you sell 20 pieces for ca. $52 (average). You netted with ca. $1040. You can write one report per week - 4 per month easily. You sell them for ca. $17 per pieces. Selling 20 report you netted with ca. $1360.
Less pain, more money. What do you think about that?
All the best,