The term "Infopreneur" is a relatively new industry buzz word that is making waves because it opens doors for entrepreneurs to generate new streams of income. Simply put, an infopreneur sells information.
Information products are offered in a variety of formats including books, e-books, special reports, audio formats, videos, workbooks, tips booklets, and virtually any method in which you can deliver information. Many successful entrepreneurs have been doing this for years. Here are some examples:
*Joan Stewart is a publicity expert and operates www.PublicityHound.com. With over 100 special reports and audio recordings of the teleconferences she hosts, Joan is a master infopreneur.
*Dottie Walters is the author of "Speak and Grow Rich" and several other books, and the founder of www.SpeakandGrowRich.com. In addition to her published books, Dottie sells audio programs, subscriptions to "Sharing Ideas," her magazine for speakers, and weekend-long seminars.
*Dan Poynter is the author of "The Self-Publishing Manual" and other books. This savvy infopreneur has built his enterprise based on his expertise in several areas: publishing, parachuting, serving as an expert witness, and cats. Dan sells dozens of special reports and mailing lists through his website: www.parapublishing.com.
Benefits of Info Products
Aside from the additional revenue stream info products generate, there are numerous hidden benefits. For example, many authors treat their books like a business card, using them to open doors to new business opportunities. A book gives you more credibility and makes you more interesting to the media. With the right spin on your topic, media exposure could bring you a windfall of new Business. Just look at any author who has made it onto the Today Show or Oprah. Even an article in a local newspaper can prompt hundreds of readers to buy your book.
As you add more info products to your line, you spin a web of opportunity. Each product may appeal to each customer differently. Some may buy one product, others may buy another product, and ideally, most customers will return to purchase multiple products.
Each product provides the opportunity to reach new markets with your advertising efforts. You automatically create a new reason to send a press release when you announce a new product. You can also promote the new product to your newsletter subscribers and to other Businesses that compliment yours. These target marketing opportunities could change with each new product introduced since each could appeal to a different audience.
Giveaways are another fantastic use for info products. For example, you could reward new subscribers to your e-zine by giving away a free e-book. Or you could send your e-book to other Business owners and allow them to distribute it for free, provided all of your contact information remains intact. This strategy will ultimately bring you new customers and that all important exposure to your audience.
You can also negotiate rights to resell your content. Paulette Ensign creates bound tips booklets and has sold them by the thousands to Businesses who use them as giveaways for their own customers and employees. Not only does she make money selling the reprint rights to the booklets, but she reaches thousands of potential new customers.
What to Write About
Everybody is an expert at something. If you run a successful Business, that makes you an expert in your industry. Or perhaps you are an expert at a hobby, sport, or other special skill. Here are some tips for coming up with product ideas:
*Conduct a survey with your customers and ask them what information they need or would like to know.
*Teach people how to do something.
*Create a directory. Do you have a list of 50 or more resources that people in your industry need? Sell it!
*Read books from your field of interest. Is there a book that covers an important piece of information in one chapter that deserves to be expanded upon? Could you write a
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