Earning Online Without Producing Your Own Product

Understanding Reprint Rights

Reprint Rights, a concept I first encountered in Ken Evoy's "Make Your Knowledge Sell", is a brilliant way to start an online business without having to create a product. Essentially, you purchase the resell rights to someone else's work and start selling it as your own, keeping 100% of the profits without having to pay any royalties or report your sales figures.

Starting an information selling company using this method has a relatively low start-up cost. The key is to choose a product that aligns with your interests, is of high quality, and is in demand. Your success will then depend on your determination and persistence.

How to Profit from a Product with Reprint Rights

Many people purchase the rights to a product but fail to make it profitable. To succeed, you must treat it as your own product. Here are some steps to follow:

• Choose a quality product that fits your interests or your existing website theme.
• Ensure you are impressed with the product so you can write a compelling ad copy.
• Create a simple website using an easy-to-use web editor.
• Find a way to accept payments online. Services like ClickBank, iBill, and OrderButton are popular choices.
• Promote your product. Subscribe to free marketing e-zines and experiment to find the most effective ways to advertise it.

While you don't have to create a product, you still have to promote it to sell. There are numerous free publications and forums on the internet that can teach you how to do this.

The Cost of Reprint Rights

The cost of reprint rights can vary significantly. While cheaper rights are more affordable and thus accessible to more people, this also means more competition. On the other hand, more expensive rights may deter some people, reducing competition and potentially increasing your profits.

Finding Products with Reprint Rights

Many authors, particularly new ones, may not have considered offering resell rights to their products. If you find a product you like and want to resell, contact the author and make an offer. Alternatively, you can use a search engine to find products on a subject you're interested in and approach low-traffic websites that may be willing to sell reprint rights at a lower cost.

Questions to Ask Before Purchasing Reprint Rights

Before purchasing reprint rights, it's important to ask the following questions:

• How many other people will be allowed to sell this product?
• How many copies of this product have been sold?
• Are you allowed to modify the product and/or reproduce it in a different format?
• Can you sell the reprint rights to this book?
• Will the author/seller offer you technical and marketing support?

Once you've purchased the rights to a product, don't waste any time setting up your website and starting to sell it. If you act quickly, you could make your first sale within hours of purchasing the rights.