Creating products

Now that you know what kind of product offer your back-end customers are interested in, you now need to create that product.  There are three main ways you can go about doing this:

Doing the work yourself.
Outsourcing the work to freelancers.
Combining with JV partners to help you complete the work.

By doing the work yourself, you can keep all the profits for yourself, but you need to consider whether you have the time and the necessary skills to make the product as good as it can and should be.  For instance, if you plan on making a video product, do you have the necessary technical skill to work with video editing software to make it the highest-quality product it should be?  After all, if your customers don’t see the quality and value they are expecting to see, they likely won’t buy it, and you’ll have used up all that time, money, and resources for nothing.

You can outsource the work to freelancers instead, and often save time and money by hiring a freelancer who is quite able in the skills you require to complete your product offer.  For instance, the freelancer may be quite skilled at creating high-quality videos with video editing software; it would make more sense to hire him/her for a nominal one-time fee and create the product more ably and quickly than you trying to figure out how the video editing software works and making many mistakes while trying to create that high-quality product.  You will have to pay for the freelancer’s services, which will take some money away from your profits, plus you have to do some research into the freelancers you wish to hire to try to ensure that you are choosing a professional and responsible freelancer who can do the work you require and not someone who will either rob you or is incapable of doing the tasks at the level you are expecting them to be performed.

You can also utilize the ability of JV partners you join up with to help you create your product offer.  You’ll have to split the profits of your product offer with them, but they may have better technical skills to complete the tasks necessary to create your product offer, such as knowing how to create high-quality videos using video editing software, and will be able to make your product better in less time than if you attempted to do it yourself.

For more information on creating back-end product offers, read “Back-end Secrets Revealed.”