21. An Info Product
One of the ideal products for entrepreneurs without very much startup money is an information product. That’s simply because of the ease and low cost of production and virtually zero cost of distribution in the digital era. All you need in many cases is a reasonably good laptop computer and you can put together and market an info product. There’s a man who owned a storage facility and decided to make an instructional DVD on how to set up security cameras for your storage facility and sell it to other storage facility owners like him. He made half a million dollars that way and his startup costs were well under $5000. Other businesses are working with big companies such as Amazon to display their products.
You will provide all the information on particular products. The strategy is to get as many clients buying that product on Amazon or other online retail shops. And then you are paid a certain percentage when that product is bought. You are also paid when related products to the product being promoted are bought. The secret is to keep as few products as possible at the beginning. Too many products will just confuse the customers. You can have a blog as well where you discuss the details of a specific product. Invite the clients to comment on that product and give your views regarding the same. This product review initiative will drive many customers to buy the product from the retailer. As long as people are buying the products, you will get a payment for that. The start-up costs are very little and will need more of your time to ensure that clients are being attended to.