One of the keys to succeeding in information product creation is to break the process up into discrete steps. This frequently isn’t an instinctive reaction for the typical information marketer. Especially on the internet where small sized learning products are the norm.

However, it is extremely important to your ultimate success. In fact, I would go so far as to say that if you don’t do this you probably won’t succeed… even when you are starting out let alone as you move forward.

Your product creation system should do this for you if only to help you to understand the overall task.

But why?

In this article, I’m going to ignore chunking and focus on the practical aspects. That’s not to say that chunking isn’t important. It is. It’s important to understanding and to learning the process. But while you can use the same chunks as you move forward, long term your focus needs to be on the operation of the system not the understanding of it. Unless of course you are constantly training new people!

So why is chunking important to long term use of the product creation process? (Yes, I know systems design uses a different term for this process but I’m not teaching you systems design. So I’m going to use the word learning content designers use.)

The first reason that having individual discrete tasks is important is one of schedule estimation. Frequently it is very difficult to estimate how long the total task of creating a product will take. After all, the size and type of the products matters as does the number of products in your product funnel. And those are just the most obvious elements. However, estimating a discrete task is often much easier. The total can then be estimated as the total of the discrete tasks.

Secondly, scheduling a large task can be problematic. However, by segmenting the task into a number of discrete tasks, you gain a much greater flexibility in scheduling. Not only that but as your business begins to add people you are able to schedule multiple people to the product creation.

Finally, segmenting a large task into smaller discrete tasks allows you to have much better control over the product creation. This affects two different areas — status and quality.

By segmenting your process into discrete tasks you are able to schedule and record the progress at much more detailed level. As a result you are more in control of the status of the product creation. You know what everyone is doing. When they should complete it. And how much it should cost. You also know exactly what has been done.

You also improve your overall quality. Instead of waiting until everything is done you can check quality as you go. This allows you to immediate react to low quality products without absorbing their costs. This means that you have less rework and your rework costs less. And if the product is not going to meet its quality requirement you will know about it in time to stop the development, change the requirement or fix the product.

I have held a real estate license and been a full time agent in the state of Illinois for many years now and I love what I do. Yes, even in this down market, I still have fun. People still need places to live. With the market the way it is though, there are lots more rental and rent to own properties than there were a few years ago. And that is not likely to change any time soon. The market is ripe for anyone wanting to invest in real estate in what will turn out be the most lucrative time to buy in a very, very long time. But there are things to be cautious about, whether you’re a buyer or seller, or want to be an investor.

To the Buyer or Seller -

Caveat Emptor, let the buyer beware. There’s a good reason for that phrase, there’s a lot of truth in it. If you are a buyer or seller, you should be very careful when approached by someone saying they are an investor. They do not have your best interest at heart, no matter what they say. They are looking to make money on the buying and or selling or leasing of property. They are not an agent and answer to no regulating agency. They are not your AGENT and do not owe you any obligation other than to honor the contract they enter into with you, which may or may not be a good deal for you. Sure, if they’re engaging in licensed real estate activities without a license, they may be subject to penalties. But that won’t stop you from getting screwed. So beware. My advice is get someone to represent you, either a real estate broker or attorney, or both. You may or may not, by law, have to have a real estate attorney in your state. In my state, Illinois, it’s optional for buyers or sellers to have one. But also, in Illinois, real estate brokers can’t act as an attorney, only as an agent. So it’s recommended that you have an attorney, even though it’s not required.

To the Investor -

Periodically, I run across individuals who say they want to buy “wholesale”. They describe a process where they make an offer to purchase a peace of property. Then once under contract, they procure an “investor buyer” for their purchase contract. They make their money buy charging their buyer a finders fee.

There are a couple of things a would be investor should be wary of. Each state has licensing laws, and certain things require a professional license. Being a doctor, a lawyer, an accountant, a real estate broker are all fine examples of this.

Section 1-10 of The Illinois Real Estate License Act of 2000 defines several called licensed activities for a broker. Here are a few excerpts from Section 1-10:

“Broker” means an individual, partnership, LLC, corporation, or registered LLP who, whether in person or through any media or technology, for compensation, or with the intent of receiving compensation, either directly or indirectly:

Sells, exchanges, purchases, rents or leases real estate.

Offers to sell, exchange, purchase, rent or lease real estate.

Negotiates, offers, attempts, or agrees to negotiate the sale, exchange, purchase, rental or leasing of real estate.

Assists or directs in procuring or referring of leads or prospects, intended to result in the sale, exchange, lease or rental of real estate.

Now, I’m not a lawyer nor did I play one on TV, or did I stay in a Holiday Inn Express last night. But when an investor is looking for a buyer for that contract they have, they may be skirting the law in a very dangerous way. A slip of the tongue, say the wrong word, and it could be very costly for them.

People wanting to invest should do just that. They should buy it and hold it as a rental property, or buy it, fix it up, and sell it. I would not recommend buy/fix/sell though in the present market unless you’re getting the property incredibly cheap. Resale is hard, unless you’re well below market value. To be an investor, you don’t have to have an agent. It’s legal for an individual to represent themselves in a transaction without having a license. They just can’t represent someone else without one. For those folks who wanting to “wholesale” – sell real estate contracts, I recommend checking with your state regulating agency and finding out just how close you are to violating laws. And you might want to consider getting the appropriate license.