Sometimes when you’re struggling to really make a go of your business, it’s tempting to look for the latest “money making” opportunity as a way to end the struggle. The hope is that your frustration, long hours and hard work will disappear and you’ll be able to relax while cashing in. Or you may be convinced of the opposite—that the only road to success is working ridiculously long hours and that just squeaking by is the price you need to pay.

In reality, neither is true. The truth is that if you develop a solid long term growth strategy and then focus on implementing it, you will work hard but the rewards will be great both in terms of the lifestyle you can create and the income you generate.

If you are an expert in any area, have special knowledge, are a virtual business owner, coach, consultant, author, trainer or service provided, then one crucial element of that equation is to create information products. Even if you have a bricks and mortar business, this is something you should seriously consider.

What kinds of information products really create income? You could consider e-books, home study programs or membership programs. Here are five ways that creating a small series of information products can transform your business from a struggling time-for-dollars model to a successful, lucrative business.

    1. You can earn money no matter where you are or what you’re doing

Once you’ve learned a proven system for marketing and selling your program and put much of it on autopilot you can be earning money while you’re spending time with your family, while you’re on vacation or while you’re working with higher paying clients.

    1. You can grow your current business to create a solid, sustainable 6-figure income

There are only so many hours in the day. Between providing client services by the project or hour, marketing your business, and running the business itself, you really have little time left and you have an income ceiling. Growing your business to the point where you have a great income, greater exposure and a steady stream of leads with less effort because of your information products will set you free. This is not a myth. It not only has happened in my business but I’ve helped many clients achieve this and you can too!

    1. You can do it for very little money

You can run a little marketing and sales engine for your home study or membership program for under $100 per month and you can use leverage that same “engine” by using it to increase sales in other parts of your business. Online marketing using social networking, blogging, article submissions, video, and teleclasses is virtually free. Never has selling information products been easier. Of course by investing a bit in pay per click ads or by paying a commission to joint venture partners and affiliates you can ramp up your sales even faster.

    1. You can turn your passion, knowledge or expertise into income

People are searching online, even clamoring for information products on even the most obscure topics. Of course some topics are in big demand so doing specific research to find out what people want before you create your product is key. However, if you have a message to share, specific knowledge of a popular subject or expertise, chances are you could profit from creating an information product, especially a home study or membership program.

    1. You can help and serve many more people and build your expert reputation.

If you’re running a local time-for-dollars business, chances are your reach is limited. Create an information product and follow a proven marketing system to drive targeted traffic to your product web page and you’ll be reaching, teaching and serving more people than you are now. Plus your expert reputation will grow and many more people will think of you as the go-to person in your niche.

If fear is holding you back now is the time to step forward and take action anyway. It’s time to take this important step toward creating the kind of income you deserve.

Janis Pettit is a small business coach; business strategy and marketing expert. The creator of the Home Study Income System which helped her clients dramatically increases their income. Learn to create and market a home study or membership program in 60 days or less at http://HomeStudyIncomeSystem.com