This is one of the biggest frustrations I hear when people want to start an online information product business. Many people get stuck trying to determine what and how much to give away. They see everyone giving things away and wonder how to create a sustainable business this way.

“But everyone is giving everything away for free on the internet, I can’t make any money doing that!”

This is actually not the case with people who are being successful with an online information business. Let’s take a closer look at how to let this misconception stop you before you even begin.

How to stop before you even start

Look around at online entrepreneurs in your niche and feel discouraged that they are giving everything away. Convince yourself that there is no future in starting and growing a successful website with your product ideas.

Go back to your job and feel resentful when you see another person being successful online.

Look back in 10 years and realize you had a golden opportunity to be the architect of your own destiny.

How to begin the right way

Successful online entrepreneurs are not giving everything away. They are only giving away part of their information. Here are three of the six important steps to creating your information product and where to find the part you do give away.

First, write out your story. This is your experience, your credentials (if any) and why you became interested in what you are teaching.

Second, write out your Why Outline. This is a list of 5 -10 reasons why your potential audience would want to learn what your product is about. This is where you get your free stuff that you give away to build your list community. This also becomes a sales tool because in it you’ll offer your prospect the whole How To Recipe.

Third, write out your actual How-To Recipe. This is your particular process, your step-by-step instruction and this is what you get paid for.

So begin with these 3 steps today to create an information product out of your information, knowledge and experiences.

Realize that there is effort involved. You don’t just put up a website and create a product and become an overnight success.

You grow an online business just like anything else, with persistent, daily actions and keeping your eyes open to the opportunities rather than the obstacles. As I sit here in my Pjs about to teach a class from the comfort of my own home, I can tell you the rewards are worth it.