Monday, March 16, 2009

Profiting with Private Label Rights

Private Label Rights (PLR) are used by some of the top internet entrepreneurs to quickly create products with very little investment of time or capital. Unfortunately, most internet entrepreneurs who have heard about PLR, make very little money with it. Instead of following a profitable plan, they run around in circles like a dog chasing its tail. Here’s why.

PLR products are completely customizable. Whether it’s an ebook, a piece of software, or a graphics package, you have complete control over the content. It’s the same as if I write an ebook for you and then give it to you and let you put your name on it and take all the credit for the content as if it’s yours. It’s fast, it’s simple and it’s completely legal.

So why doesn’t everyone do it? Because it takes some work, it’s a very minimal amount of work, but it is work. Most people are chasing get rich quick schemes so their impression of a successful PLR business is to buy lots of PLR products, stick them on a website and sell them to other people who do the same.

It doesn’t take very long until the market is saturated with the same PLR products on all the PLR websites. And then the average entrepreneur says, “PLR products don’t work.”

Meanwhile, the entrepreneurs who have actually opened the zip file that the PLR product came in are making money hand over fist, because they took the time to customize the product and introduce it to the market as their own.

Here are some simple ideas:

1. Edit the ebook and add some of your own content. Add your own personal style and charm to the product. Then add your name as the author or publisher
2. Personalize the graphics or have a graphic designer do it for you
3. Edit the sales letter and again add your own style and character to it

When you’ve got the product complete, you could

1. Publish it at your website and send traffic to it. So you could sell it as a stand alone product
2. If you embed affiliate links into it, you could give it away as a freebie. When your reader’s click on your affiliate links, you get paid
3. You could use them as a tool for your affiliates and allow them to re-brand the product with their affiliate links to your products
4. You could turn the written ebook into an audio and sell it as an audio ebook which adds value to the package
5. You could strip the content down and turn it into articles
6. You could add some workbooks to it and market it as a course

Now just for comparison, let’s look at what it would cost to have your own ebook
written.

Costs $400 - $800 for a good 50 page ebook
Graphics for a website including affiliate marketing banners and images $200 - $500
Sales letter copy - $500 - $2,000+

In real costs, you’re looking at $1,100 - $3,300. That’s still good because you save a huge amount of time and all the heavy lifting is done for you. You don’t have to take care of all the intricate details of writing and designing. And that is just for a 50 page ebook. If you want a 100 page or even a 200 pager then just double or triple the writing costs. Or spend the next 3 - 6 months writing it yourself. But what if you could get PLR products all done and ready for you at a fraction of the several thousand dollars or hundreds of hours it would cost you to make yourself?

And coming from someone who’s been on both sides of the table, I’d much rather pay someone to take my ideas and topics and do most of the writing and editing so I can focus on the marketing and sales side.

So…if you want more, please visit SureFireWealth