Infopreneur FAQs
By Melanie Jordan
The Expert At Making Money From What YOU Know!
What is an Infopreneur?
Generally, the term infopreneur can
refer to any entrepreneur who earns
money by selling information via the
internet. However, infopreneuring
did not start with the internet boom,
as early infopreneurs were able to
sell information via such “old school”
methods as audio tapes/CDs, video
tapes (yes I know, how quaint)
printed booklets and manuals and
in-person live events.
Today, being an Infopreneur has never
had more potential, because you can
inexpensively reach a nationwide, and
in many cases, worldwide audience
with your information. Plus, the ways
that you can distribute information are
usually very innovative and inexpensive,
since you can take advantage of all the
delivery mechanisms the internet has
to deliver information electronically and
virtually, in addition to “classic” offline
delivery methods.
A VERY lucrative aspect of infopreneuring also involves information services based on the infopreneur’s areas of expertise, such as coaching, consulting, training, or simply doing what you do well for others.
Some people will use the term infopreneur to refer to someone who markets their own information, as well as someone who simply re-sells the information others have produced for a piece of the pie. I personally focus on Infopreneuring where the creation of individual original work is the focus, and offer the works of others on a select basis where either I personally have reviewed or use the information product, or have had some involvement in the project, like when I was a “ghost writer” and given a co-author credit on one of my client's projects..
To just re-sell any old thing that comes down the pike for a cut doesn’t make sense in my opinion, as there is A LOT of junk that untalented people throw together with little value just to have “an information product”. That’s not going to establish your reputation for quality, creativity and innovation as a trusted information source that the fan base you build up over time will rave about, or buy from you time and time again.
What kinds of products do Infopreneurs create?
Infopreneurs can create all kinds of information products developed as:
• freebies that are used to induce people to opt-in to lists
• upsell prospects to paid products and services
• as a bonus packaged with paid products or services to enhance the overall perceived value (in other words, you can charge more :)
• or as paid information products available for purchase on their own. If your information is believed to have value by consumers and businesses, the ways that it can be delivered online and offline are pretty much limited only by your imagination.
An information product, for example, can be a special report, an e-book, e-course, an audio or video podcast, a transcript or a subscription service, just to name a few. An information service is training (teleseminars, webinars, in-person seminars), coaching and the work you do for others in your field of expertise.
If people want your information, they will pay for it delivered in a variety of ways—even the same information delivered via another method. For example, someone may buy a book/e-book or training manual, and then decide they would love to also be able to listen to it during their daily commute, so they will buy the same Info Product in audio format. So you make more money off this same, or slightly modified information!
What is the advantage of being an Infopreneur as compared to other types of businesses I could spend my time on?
The advantages of Infopreneuring over other businesses are huge because:
You potentially have an unlimited source of information products and information services inside
you, as anything you know something about, or are willing to learn something about, can be turned
into saleable products and services.
It is open to anyone, young or old—no one can ever force you into retirement. Plus, it is great way
for those with physical challenges or caretaker responsibilities for other family members or kids,
who must find a way to be home-based, to make money.
Each product you create, can have many related spin-off products on other topics of interest, and
more detailed levels of information to the same audience. So one idea leads to many viable
offerings.
The same information creates multiple information products and information services because they
can be delivered in multiple ways. For example, I developed an information product line and
strategy for one of my clients that stunned him since I was able to brainstorm 99 information
products and services from that one idea!
You don’t have a fixed geographic location, so there’s no retail space costs and overhead, and
you’re not stuck doing business from a particular location. You can reach customers throughout
the United States, and throughout the world if you so desire!
Every information product and service you create can generate revenue for you FOREVER! You just may need to do some updating every now and then.
Your information products and services can be created in hours, days or weeks depending on the
detail and complexity. And they can be made available for sale IMMEDIATELY! You could see
the first dollars from a new information product or service within days, or even minutes or hours!
Your expenses to create and deliver information products via electronic or virtual delivery are very
low, and some can even be done at no cost!
Your profit margins can be amazing, especially for electronically or virtually delivered information products and services—in fact, most products will result in an unheard of 90-95% profit, with your greatest cost being acceptance of a credit card or e-check via an online payment provider like PayPal™ or your shopping cart and merchant account.
Your income potential is unlimited, because there is no limit to the number of information products
and services you can create. And the more you have, the more income you can expect!
It’s a perfect work-at-home business! Or for that matter, a “work anywhere at anytime” business
like I mentioned above. You can create an information product or service, and manage your
business anywhere that you have online access.
It’s a perfect side business or “second job”! There’s no need to give up your day job until you are
ready! Or you can keep it and just have a lucrative second source of income that keeps coming in even while you are at work! The same holds true as an easy add-on revenue stream to just about any existing business.
It’s a recession-proof business! There is always demand for quality information about topics
people are passionate about, and that help them improve themselves or their finances. Depending
upon your topic, perhaps you'll even do better in tough economic times. You can prosper in good
economic times, bad times and every time in-between.
There are no set work hours—work on your information products and services as much or as little
as you like each day. And if you do your best work at 3 a.m., so be it!
You have a 24/7 business—it is never closed, and it is one of those businesses you have heard of
where you can literally make money while you are sleeping, or at the gym, or playing with your
kids, or on vacation! It’s absolutely true--I'm living proof!
Do I have to have certain credentials to create an information product?
Absolutely not! Although if you create a product where many people would either expect a certain credential, or your audience will tend to have such a credential, it could be helpful. Or having one, in certain cases could make it easier to establish your credibility. Foe example, if you are a doctor or lawyer and writing about a related topic, that could certainly help. However, don’t feel you have to have a certain credential to create an information product or service. You just need to have proper disclosures so as not to mislead anyone.
For example, I wrote my book Have Your Cheeseburger And Keep Your Health Too! as a lay person in the field of nutrition and healthy living, and was careful to let people know that. However, since I had a lot of expertise from my own experiences, and was well-versed in the topics from experts and authoritative sources, there was no reason that I could not present my information in my own unique style, and from my personal experience in the hope of helping others to lead healthier lives.
Do I have to be good with technology to create information products and services?
Absolutely not! There are many products and services that have been created for people who are not technically inclined that still allow them to deliver information products and services that are just as good as those that are created using more “techie” methods. It helps if you know the basics of e-mail, using web sites and can use “WYSIWYG” (What You See Is What You Get) online tools. I’ve created several web sites, and I have absolutely no html capabilities, nor do I care to have them.
And if technology in any shape or form is not your thing, you can get a computer-literate family member or friend, or inexpensive local talent through your local college or a freelancer to help you out if need be, although I doubt it will be necessary with the user-friendly, tested and trusted Infopreneur Resources I direct you to at InfoToolsForYou.com to help you save time, hassle and money!
How much can I make with my information product or information services?
While I can’t make any guarantees, in theory, the sky’s the limit between how much you can make per offering, how many different offerings you have, your profit margin and the fact that each information product or information service can make you money (with some updating now and then) forever!
Suppose someone steals or shares my work?
It’s true that this can be the dark side of being an Infopreneur. There are always those unimaginative, lazy, gutless lowlifes who will try to steal your work no matter what kind of security and steps you take to try and protect it. There are many ways to deal with this, but for starters you always should document the full preservation of your rights, and the fact that your work is copyrighted in every information product you create and familiarize yourself with intellectual property laws as they apply to the internet.
I have a lot of ideas, but I don’t have a lot of time to create information products and information services, so what can I do?
There are two answers to this. The first is that an information product or service doesn’t have to take much time to create. And once you do, except for maybe some updates or re-packaging, you’ve got a product to sell forever. I am sure that somewhere in your day or week, you can spare time here and there to bring your information products and services to life.
Isn’t the potential of having a 24/7 home-based business either part-time or full-time, that can create income for yourself and your loved ones ongoing for the rest of your lives worth a bit of your time? Or if you're already an entrepreneur or content provider, isn't an easily added additional revenue stream from the same knowledge you are using to run your business and develop your content worthwhile?
Second, if you’ve got money, but no time, like many busy professionals I know, I am available to ghostwrite your information products and services through my Infopreneur Coaching Services.
Get the answers to 14 more infopreneur FAQs by getting a copy of my free e-book The Treasury Of Infopreneur FAQs CLICK HERE
If you're ready to cut to the chase and get started in infopreneuring the right way, get your copy 24/7 of:
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Earnings And Liability Disclaimer: We cannot guarantee you will make money with your Info Products, nor can specific outcomes be guaranteed from any project efforts, suggestions or advice. Results will vary and ultimately depend upon your effort to grow your business, your talents and abilities, quality, pricing, competition and the market for your Info Products, among other things. SunLover Publishing and its employees offer information and guidance on this subject matter, but it is not intended to substitute for legal or other professional advice. Users of this web site and the company's services should consult with a professional whenever expert advice is needed especially in regard to legal, tax and compliance matters. SunLover Publishing and its employees assume no responsibility or liability with respect to any loss or damage casued, or alleged to be caused, by the application of any information on this web site, in its materials, or offered in its consulting and coaching services.
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What Is An Infopreneur?
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