If you want to know how to invest in private label rights then you have to understand a few things very well. It’s not so much about spending money on PLR. Instead, it’s all about planning and smart execution.Let’s explore this…
First, I always tell our coaching students to pay very close attention to how they spend money. You must know why you want to buy private label rights articles or ebooks. You need to have a business need for the PLR you’re buying. If you’re just grabbing PLR because it’s a “steal” you’re burning cash. It’s unlikely you will ever use that content.
Second, you need to know how to buy private label rights and resale rights products. In addition to matching the right products to the right business goal, you need to have a specific set of “filters” to decide if the PLR is a good investment for you, or not. It’s very easy to buy PLR… but it’s very hard to buy PLR that you can exploit within 24 hours and make cash.
Third, you need to change your thinking about private labels so that each product you buy becomes another asset. Specifically, you need to buy your PLR thinking that it is an actual investment and that it can be converted into cash in the short term. If you think it’s going to magically generate cash in 3-4 months when you have time, you’re foolin’ yourself.
Finally, you need to have clear “transformation goals” before buying or investing in private label rights. What I mean is pretty simple. You must know how to take your PLR and convert it before you buy it. Are you going to convert an ebook into an audio file? Are you going to take the audio PLR and convert it into text content? It’s essential to answer this ahead of time. Or, once again, you’ll just burn cash in the hope of future profits from a product you’ll never update or sell.
If you do these things you can make hundreds of dollars per PLR report. And to recap, here’s what I said. I want to be clear:
- Be sure to have a clear business need ahead of time; don’t get sucked in by a “deal”
- Be sure to filter out any noise and have clear business objectives (profit goals) ahead of time
- Think of PLR as an asset and don’t buy unless you have an immediate return on your investment
- Be sure to have a clear process in mind for exploiting and transforming your PLR ahead of time
If you follow these “rules” then you’ll be able to make $32.78 or more from each and every PLR article like I am able to do. I’ll explain more about that crazy profit trick in the near future.
6 Comments
Great advice John.
I wonder how many newbies , like myself, have hundreds,
if not thousands, of dollars worth of untouched PLR ‘Bargains’ on their desktops.
I even bought a package just yesterday,without the faintest idea of what to do with it.
As you say,it’s so easy to fool oneself into thinking that it will come in useful
’someday’.
‘Pig in a poke’ comes to mind!
Thanks John.
Good tip John. I’m beginning to delete quite a bit of plr and mrr products that have been cluttering my hard-drive because no matter how much I try to convince myself otherwise, I know I’ll never use them.
At one point I’ve even considered setting up a quick website to sell them at $5 a piece to anyone who wants them…it’s about Dennis’s $5 bucks a day:) plan. But you’re right, if you don’t have a use other than they are a ‘bargain’, buying them isn’t worth the hassle.
You are right right right! I purchased lots of “good deals” B/C I thought to myself, “…good, I’ll have them when I know what to do with them.” Oh how I have fooled myself…
Nice post John!
As I was reading though, I wondered what your take was on PLR memberships?
Most of them give you fairly unique products that are good quality, but you can’t specify just what PLR product you’ll get each month. It’s a hit or miss thing where you get whatever the person running the membership decides to give you.
So do you think these types of memberships are worth anything? Or are most of them just a waste of our hard earned money?
Thanks for your input!
-Mark
John,
Great article! I’m new here and just playing around with ideas.
As I work as a cartoonist, would it be a good idea or not to purchase a PLR ebook and then illustrate it with cartoons thus making it quite different to the original? Or is this unnecessary work?(I would of course create a new cover.)
I still have some searching around this site to do – but where do I get premium quality PLR products?
Your thoughts please,
Richard
http://www.motivationalcartoons.co.uk
Yessir!
What you need is the planning. Unfortunately no elementary school ever teach this subject. So nobody aware the problem until he/she get beaten up because of un-planning things.
Well, but you don’t have teacher for that, right?
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