Infopreneur (information entrepreneur) is a relatively new buzz word. Good news if you’re in the online publishing business.
So what does it mean? Basically, an infopreneur sells information and information products such as, but not limited to:
- Special Reports
- Audio Products
- Live, Tele & Web Seminars
- Mailing Lists
Not so long ago, you could write a book, find a publisher and go to print. Then, eagerly await the arrival of your new release at the local bookstore and hope for great sales.
Fast forward to today, you can write that same book, self-publish it online to an international audience and have record sales. You’re on the fast track to becoming an infopreneur.
What we found interesting in “From Entrepreneur to Infopreneur: Make Money with books, E-Books and Information Products” by Stephanie Chandler were the profiles of successful infopreneurs.
Many credited their website sales for most of their revenue with minimal costs. They are making money while they sleep and Chandler explains how.
A carefully designed online publishing strategy will get the result you desire. Chandler makes a good point regarding the benefits of online publishing for infopreneurs.
“Perhaps one of the most compelling reasons to sell information products is the opportunity to generate passive income. Passive income is money that is generated without extensive ongoing effort by the business owner. Rental property income is the most traditional example of passive income. Once an information product is created and the distribution is automated, sales can occur with little additional effort.”
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Chandler also has some excellent recommendations about producing high quality information products and building your reputation. Since the customer cannot touch and feel your product, keep these points in mind.
Quality – Make sure whatever you produce is of the highest quality and professionally edited.
Expertise – Demonstrate any credential you have in your field: education, awards, achievements, etc.
Value – Check to see how competitors are pricing their products. Your product should meet or exceed the customers expectation.
Delivery – Be efficient and timely. If possible, use an automated delivery system.
Marketing – A solid marketing plan is essential. Be open to new ideas.
Development – Be current and up to date. Keep your staples or legacy product (think Big Mac) while introducing new items a few times a year.
For more about this book, read From Entrepreneur to Infopreneur: Make Money with books, E-Books and Information Products.