Robert Kiyoski (author of the Rich Dad Poor Dad series) explains what differentiates rich and poor people. He explains that rich people accumulate assets. His definition of an asset is something that produces income.
Information products are virtually free to create. By Sitting in front of your computer transferring your knowledge and ideas to words in a word processing program you can produce an information product. This can be done in a matter of days or hours. Traditional products can take months or years to create. Once you know the process of creating an information product it can be done again and again. Once the information product be it an ebook, an audio product or video is uploaded to a hosting account it becomes an asset that you own.
An asset is something that produces income. The information product can be purchased in unlimited numbers from the website it is stored on. The product can be purchased 24 hours a day 365 days a year. You can make money even while you sleep! Other businesses must produce additional stock once products are sold. Your website with information product loaded has infinite inventory because the product can be continually downloaded. It is an asset that can continually produce income with much lower costs compared to traditional businesses.
Once the first product is produced additional content in the form of new ebooks, courses or other information products will see increased sales. It is a general principle that increased content equals increased sales. Sometimes adding new content will not increase sales or even reduce sales. Because the product is online this can be quickly modified and changed. Adding new content can be as can as simple as modifying a sales page or adding content to existing product. By adding content you are increasing the amount of assets you control.
We are in the information age. Internet marketing is the most exciting opportunity in the history of entrepreneurship. Information can be developed into a tremendous asset producing income for you. As you add content by creating new products or additional content on existing products you increase the size of your assets. The opportunity is enormous. Action + Passion are the keys to success!