We've all heard stories of people making boatloads of money online by selling information products. Yet for most people making their first $100 would make them very happy. You see, once you make your first $100 the next $100 is much easier.

One of the best ways to develop your first information product is write a report. The best part of all is you can charge anywhere from $5 - $25 for the report! In some cases, even more.

Before I get into more on reports I want to explain what information products are. Information products include books, CDs, MP3s, white papers, reports, teleseminars, webinars, Podcasts, etc. In the Internet context, the term refers to electronically deliverable, knowledge-based products.

Anything that contains knowledge and you can deliver it electronically is considered an information product.

One of the easiest (and quickest to create) information products around is a report. And yet, many people have no idea where to start, how to market and how to turn their information into profits. Let's start at the beginning.

There are ample benefits to creating low priced reports. Nowadays, many consumers would rather pay a few dollars for a fast solution to their problem than have to search around for the information (even if it's free).

It doesn't matter what topic, market or industry, reports are a great way to provide solutions to readers and generate great revenue with very little work.

Reports are also a great way to build your opt-in subscriber list. Most people have heard, "The gold is in the list." This is so true. With a good opt-in list of subscribers you can literally make money at the press of a button.

Reports are so easy to create that you can often do so with little or no money out of pocket. Sure, there is time involved, but when you consider that you can generate hundreds (and even thousands) of dollars in revenue from a 10 - 20 page plus report, the time invested is worth it.

Because your reports will be delivered electronically, there are no storage costs. With physical products you have to keep inventory on hand, find a place to store them and often watch them collect dust. This won't happen with online reports.

After the initial costs of developing your report, there are literally no additional costs to continue selling them.

With the right systems in place you can generate excellent revenues fast, easy and with what seems like the press of a button.

Author's Bio: 

Discover success insights from experts around the globe who are out there making a difference and making a great living in the process. Kathleen Gage interviews the best of the best with Power Up for Profits Podcast. http://www.powerupforprofitspodcast.com