Did you know that you can literally make money while you are catching some z's? There is nothing more rewarding than opening up your email program in the morning and hearing all the email come in filled with sales from around the world. You have worked hard to master your expertise and now it is time to turn it into products that not only provide a ton of value to your customers, but also provide you with another stream of revenue.

It's true -- building a passive income is your key to earning more money without working harder. Here are some ideas for how you can build an automatic income source for your online business in less than one week.

I once heard someone say "If you know how to: fix something , find something , save something, do something more quickly, do it better, do it more efficiently, do a greater amount of it, do it with greater quality, do it less expensively, do it more easily, do it more often, be happier doing it, do it automatically, or more effectively, take existing knowledge and apply to a new situation then you have a subject to create an information product about!"

There are two reasons to create an information product:

1. To create a system you can provide to your clients to eliminate the repetitive work that you dole out time and again.

As an example, I have many people hire me to help them create more profit through promotions. I found I was telling them the same information over and over that they could easily do themselves with the right information. I was sending the same worksheets and giving them the same resources. So one day, I decided to put it all into a home study program. This program is packed full of everything my coaching clients needed to effectively promote their business. Now when I have a coaching strategy session with them, we truly get to focus on the strategies, rather than the tactics. It is a win-win for both of us!

2. To create an alternative source of income.

Using this home study program, as an example, I have now "bottled my brain" and am able to offer a highly comprehensive solution to my clients promotional woes for a fraction of the cost. When companies would hire me to come in and do it for them, I would charge a minimum of $5K per month. I am now giving people all over the world access to my consulting for under $150.00. These sales add up too! If I sell 10 in a day that is $1500.00 I didn't have before.

I bet you are raring to get started now! I recommend that if you get this accomplished in less than 7 Days, you will play to your strengths. Are you a writer? Do you have connections with other people in your industry you want to partner with on a project? Do you love to speak publicly?

I want to give you three product ideas you can EASILY create almost instantly.

Idea #1: Host a 60-90 minute Teleclass with another well known expert and turn it into a product.

Simply set up a bridge-line that allows recording, invite the guest and host the interview. Once the interview is complete you can offer it as a download on your site as well as in a product box in the back of the room.

Here are a few winning product tips:

Always offer audio combined with written work. As an example, send the MP3 file to a transcriptionist and have her transcribe it into a word document. Add a cover page and PDF it. It highly increases the value and also appeals to both auditory and visual learners. Take the same product, burn it to a CD and put it in a DVD Box with the PDF in a booklet form. With DVD boxes you have much more space to write marketing text and it looks so much better than a CD case. Set your pricing generally between $27 and $47. Use greatteleseminars.com for an easy one stop shop solution. They record it, burn it to MP3 , disk and send you a transcript via email. It is a great service. info@greatteleseminars.com Tell Dan I sent you! Idea #2 Write an e-book and turn it into a printed special report

If you aren't a writer, don't worry! You can go to www.guru.com and hire a writer. An e-Book is generally more than 25 pages.

Here are a few winning product tips:

Use a shopping cart like www.oneshoppingcart.com and it will host your e-book and let people automatically download it. The money will just show up in your account. Make sure you have your product professionally proofread. Boy did I learn that one the hard way! Take the e-book to Kinko's or CopyMax and have them spiral bind it for you. You can then take it to conferences or tradeshows and sell them. e-Books generally sell (depending on length and subject) for around $17 - $27. Once it is printed, you can sell it for $27-47 to cover your costs. Idea #3 Hire a Videographer to Tape your Next Speech and Turn it into a DVD. LIVE!

If you like to speak and do it regularly, this is a great product idea. I recently recorded a 4 hour marketing workshop I did and I am turning it into a DVD. You are going to be there delivering it anyway, so you might as well turn it into a product!

Here are a few winning product tips:

Make sure you ask the audience if anyone objects being filmed. If they do, they can sit in the back of the class out of the cameras way. If you are really concerned, ask everyone in advance to sign a model release form and acknowledge that they know how you will be using the product. DVDs are the way to go today. VHS is about as popular as cassette tapes so keep that in consideration when you are choosing the format. Depending on how many DVDs are in your set , you can sell them for anywhere from $47 – 147. Products are a great way to create extra passive income and to create systems for your clients to use. I have created killer products in a matter of hours before that fly off the shelves.

So…what is your secret to success? Success sells, and if you have your own personal method to getting there, others will pay to hear it. That's why e-books on how to succeed and make more money are topping the sales charts. Ask yourself, "What you know that is special, unique , and could help others?" The answer to that will make a successful InfoProduct and create the Cha Ching! Cha Ching! Cha Ching! in your inbox in the morning.