TMBA 040 (LBP40) – How to Create a 100 Dollar Information Product in 48 Hours

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TMBA 040 (LBP40) – How to Create a 100 Dollar Information Product in 48 Hours post image

Hello from Bali! I really like it here. So far Bali is proving to be charming, sophisticated, and beautiful. Certainly a nice break from the Philippines which be a bit rough around the edges. It was great to record a podcast in the same room as @AnythingIan ! We’ve been getting a lot of work done this week, both on our core business and on a brand new information product we are cooking up. We are going to walk our listeners through the process of starting an internet based business from the ground up. We are hoping you find it entertaining and perhaps even useful. We are also newbies at a lot of this stuff, so we are hoping to get some help from you guys as well!

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Call us with your questions or comments at 888-554-8428 .

Episode length: 30:04

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If you’ve found the podcast at all helpful or entertaining, we’d love if you could click over to our iTunes page and give us a positive review. This will help us to get more listeners and invest more in the podcast! If you know some ways we can make it better, please send us an email. Dan at lifestyle business podcast . com.

Ribs and Martinis at Naughty Nuris in Ubud, Best Ribs in Asia, Easy

Bali Deserves More Than My iPhone Pics

Listener, Photographer, and Bali Resident Tom Showed us Some Killer Spots

On the Road

 

Published on 09.09.10
  • http://twitter.com/AlanPerlman Alan Perlman

    Good to have you back guys!

  • http://www.thewaythatyouwander.com Nate

    Thanks for the shout out and link love!

    You guys make an excellent case for Bali. After my upcoming adventure I will probably be heading to that part of the world for a while and behind Thailand (which I have a borderline sick obsession with) it's one of the places I'm dying to see and possibly live for a while.

    I'm SO GLAD that you're giving us a behind the scenes look into a product your working on and growing. The product idea is phenomenal. You guys are already rockstars, but I think giving us listeners a close up view of something you're actually working on will take things to the next level here.

    Great episode and keep having fun there in Bali!

  • TropicalMBA

    Thanks Nate, I'm working up a Thailand vs. Bali post on my thoughts about the two places. Although I've got really limited experience, seems like to two are fighting for the same market of LD/internet marketer types. Thanks for the kind words!

  • TropicalMBA

    yeah buddy!

  • srinirao

    AS a surfer, can you be rest assured I”ll be heading there :)

  • TropicalMBA

    See you soon, then ;)

  • http://www.myeggnoodles.com Chris

    Great podcast guys! And agree Bali is an awesome place!

    Just re-read a post I wrote last year: Why now is the right time to build projects (and Bali is the perfect place to do it): http://www.myeggnoodles.com/why-now-is-the-right-time-to-build-projects.html Still true today.

    Are you guys going to the Mega Show in Hong Kong next month?

  • http://www.lifestylebusinesspodcast.com/ Ian

    Chris-

    I remember reading your post last year, now it's hitting a lot closer to home for me. Bali in my opinion combines a lot of the great things from the East and West into a great mix and as you said, in a magical way. Magic is also a great plate of food for $3-4. One of the most galvanizing moments for me was finding out the house which we were visiting was less than my monthly rent in California. In terms of architecture, the place was had 20 ft ceilings, many indoor/ outdoor rooms, a pool, and guest quarters. Apples to apples this place would be a 1/2 – 1 million dollar home in most urban parts of the US. It's truly amazing the quality of life that can be achieved in Bali for very little per month.

    No, skipping the Mega Show. I'd like to go sometime, never been. Would love to hear what you're up to at the show.

  • TropicalMBA

    Chris great post, I've been brainstorming some ideas about Bali vs. Thailand, I guess trying to figure out what my future direction might look like, I'll be really interested to hear your input on that when its finished :) Hope all is well!

  • http://twitter.com/LeverageSuccess Paul Serwin

    Another great show (but that's what I've come to expect) guys! I'll cosign about Tweet Adder, what a great piece of software (it's much better than Hummingbird). I'm very excited about your new project, keep up the good work!

  • http://www.heroicdestiny.com David Crandall

    Listened to this on the way in to work this morning. Was in need of a good fix of Dan & Ian!!!

    I'm super excited for you guys regarding your product! Thank you for being constant inspirations to actually DO business and not just dream or talk about it. I love that you guys are DOING and SHIPPING and that this isn't a theory site. The two of you were part of the inspiration for me having the confidence to ship earlier this week.

    I can't tell you how thankful I am for your podcast and how much it has helped me that I am insanely jealous of the lives you have carved out for yourselves!! I continue to be pumped every single time I hear your podcast. So glad to see people who are living the dream that so many of us are chasing!!!

    I could seriously go on for a while like this as a gushing fan, but I think I'll stop for now. ;)

  • http://www.nuageventures.com David

    Love you guys, and love the car-flipping niche idea! Plenty of fun and money there for sure… Down the road, one can imagine lots of backend products, and even a community where customers of the products are now members of a subscription-based club where they can connect online and buy/sell cars to each other!

    Couple of questions that might interest many in your audience:

    How would you say are good ways to find a good niche idea when our passions aren't necessarily “solving burning problems that people would pay for?”

    Also, how do Westerners stay years in the Philippines or Indonesia with regards to immigration/visa? Is setting up a company enough to get permanent residency?

    Thanks a lot guys, you are an inspiration to many of us!

  • TropicalMBA

    Heyoh David! Nice picture on your site. I think we are in particular interested in the back-end possibilities of this market, we are also very interested in autos so being able to interact professionally with fellow enthusiasts and investors should be awesome.

    Well to be honest most of the niches I'm involved in right now I don't have a particular passion for– I am very passionate about the process of building a business and a team, being strategic, and being the best offering in the market. I've found my shelf life on that might not be longer than 1 year for each particular market, so I've adjusted by hiring really great people to do that work and moved on to creating new things. I think this process would be a lot harder for a personality focused niche business which is what a lot of people talk about on the webs. No easy answer to that one :( The visa situations in the Philippines and Indo are pretty easy to manage and actually starting a business would be one of the more difficult ways to get residency– you can hang around as a tourist for a very long time and within a few months you'll get very good ideas about the range of options available to you.

  • TropicalMBA

    Yeah buddy your comment inspired a high five at the swanky wine bar last night. I really appreciate you taking the time to stop by and say nice things, really makes my day. In terms of doing, we gotta have something to talk about ! The older I get the better I get at actually doing shaz, when I was younger I did a lot of talking, complaining, and taste-making. Being in business for 6 years now has tough me to get down to it :)

  • TropicalMBA

    Thanks Paul! Glad I made the right choice there, I've never used Hummingbird myself. I'm almost inspired to get back on the Tweet Adder bandwagon but I remember it was time consuming to do it everyday. Hmm.

  • David

    Thanks Dan… You guys rock!

  • http://www.heroicdestiny.com David Crandall

    Totally stoked that I inspired a high five!!! (I made the cool kids high five…I am the shaz!)

    You'd probably be happy to know then, that I go back and listen to your older stuff somewhat frequently. The more I get in to this world, the more I pick up on your older stuff.

  • http://twitter.com/jordan_luke Jordan Luke Collier

    Great show guys, loved the tip on how to make the “intimidating” job of writing a long sales letter a bit easier ;)

    Thanks as well for the mention!! I never had my song played on the radio and never had my birthday announced on children's TV, so you guys really made up for lost time..

    p.s. if you can go the the Gili islands off Lombok, do it!

  • TropicalMBA

    hehe, with a last name like that you should get more action! Thanks for the tips we won't make it this time due to some work, but all the more reason to come back ;)!

  • http://twitter.com/NicheThinkTank Larry Clark

    I think I'm finding *My* Crowd finally. Love the podcasts, and the inspiration. Hoping I will be on the road soon. just had a baby girl so going to wait about 1-2 years before traveling. But I'm looking for my crowd to hang with when I do hit the road with the family. My day job as an IT consultant is taking a shit due to the economy and having had to make ends me, have started my life of Internet Businesses. I have had the last straw recently and have ended up taking my longest standing client and biggest one to small claims court. This pretty much makes me a 7/24 full on committed Internet Business person now. I have maybe 2 very small clients left but they don't really amount to nothing. Started my journey almost 1 year ago and was making almost 100$ per month, and am now making a consistent 2K per month, still not enough to make ends totally meet but working on it. Your podcasts are a great way of lifting my spiits when they get low. Thanks very much Dan and Ian. Larry

  • TropicalMBA

    Yep, I AM happy to know that. You are on fire.

  • TropicalMBA

    Hey Larry man thanks for the kind words… its great to hear comments we tend to put up with a lot of shit too but we don't talk much about that stuff on the podcast, its important to keep pumped up or else who would do this crazy shit? Thanks a lot for stopping by, and I LOVE your income reports man, that's super cool.

  • Deano

    Hi Dan, After 6 weeks or so in Palawan, I am now back in Thailand; Chiang mai. It is a shame the visas are such a pain here, but everything else is great, took about half a day to find a nice little pad for just under 7,000 a month, food is so good after the Philippines :-) Miss the beauty of Palawan though :-(

    Really managed to get things done in the last few weeks though, I seem to have a much better work ethic here, guess the lack of brown outs help! I discussed a few of my ideas when I met you in Manila, but I also have an idea for a membership site, I'll probably be listening even more closely to what you are upto :-)

  • TropicalMBA

    Deano so glad to hear an update from you! Too bad we didn't get to hang out in Palawan together a little more, perhaps we'll meet up in Thailand next year. How long do you plan to stay in Chang Mai?

  • http://www.facebook.com/weteachfb Troy

    Yes Sir. Had to listen to this one twice. Couldn't have come at a better time. Also anxious to see some resources for cheap housing in Bali. Keep it up!

  • TropicalMBA

    haha thanks Troy, hope your brain is okay! A two-time listen of LBP has been known to poison better business judgment.

  • Deano

    I'm thinking long term as there are a couple of projects that I want to work on that I think have potential.

    I like the pace of life up here a lot and I think it is a nice base, and hey, I've got Tesco nearby (though Feb/March gets smoggy so may be then will be time to travel).

  • http://www.tommyschultz.com/component/static/about.html Tommy Schultz

    hey guys, great to meet you here in bali, also thanks for the mention in your podcast. catch you next time you're back over here, will look forward to more shows in the meantime–keep up the great work!

  • TropicalMBA

    Thanks Tommy! Looking forward to catching up again soon :)

  • http://www.lifestylebusinesspodcast.com/ Ian

    Tommy, thanks for showing us an awesome time in Bali! I'll be back..

  • http://simplifiedecommerce.com Colin8ch

    Great podcast guys! I enjoyed your comments regarding information products being infinite in their content possibilities and knowing when you have a product thats ready to ship vs. spending more time and energy on more development. I think this is a real vital art/ science in selling these types of products.

    Once you've established traction your market and have a customer base that has purchased your product, do you think they would be a good potential target for marketing additional volumes, updates, data, resources, etc on an ongoing subscription based model?

  • TropicalMBA

    Hey Colin thanks a ton for listening. I think the products that Ian and I are most excited about in the auto niche are subscription-level services for serious investors…. it would be a lot of fun to create sophisticated market reports or software applications that create intelligent algos for buyers. In order to fund that stuff we'll need to get some customers on our beginner product.

  • http://joelrunyon.com/two3 Joel Runyon | [BIT]

    Dan,
    You know I love you & all, but I completely disagree. I just hate the idea behind tweetadder. I think the BEST aspect of it is “social proof” (i.e. 8000 people are following this guy, he must be good), but that's diluted if they see you're following 10,000/20,000 people yourself. Yes, it can drive traffic, but traffic doesn't always = readers/subscribers/sales

    I think that $100 could be better spent on a good Google Adwords book…

    That said…I still love you guys :) Thanks for the great podcast as always.

  • http://www.tommyschultz.com/component/static/about.html Tommy Schultz

    I think I know which house you're talking about, haha

  • http://www.tommyschultz.com/component/static/about.html Tommy Schultz

    No problem Ian, great to meet you guys and look forward to catching up with you when you're back over here!

  • http://www.tommyschultz.com/component/static/about.html Tommy Schultz

    Yep, me too, look forward to catching up with ya'll soon!

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