Knowing something has always had value. Today there is an entire industry around dealing in information. People who create a business out of information are known as infopreneurs.
But what exactly is an infopreneur, specifically a digital infopreneur, and how do they turn knowledge into a lucrative venture?
Imagine. . .
John is looking to repair the alternator on his car. He just got the estimate from the local repair garage and found that it is going to cost $465!
He goes home and decides to look up the alternator online at the big box auto part retailer. John finds the part cost is $165. He then goes to YouTube and finds a video on how to change it. After watching the video John calls his brother and asks to borrow some tools to get the part changed.
Armed with the part, tools and information John is able to do the job in 3 hours. John makes $25 at his job so if you consider the time to do the job, learn from the video and collect the tools and parts he would have paid himself about $150 (3 for repair and an additional 3 hours for education and preparation).
If John had the repair garage do it the cost would have been an additional 6 hours of his life (actually more due to income taxes).
So, in this scenario imagine you were the person who created the video on YouTube. You provided useful information to help someone transform their lives. Not only did John save money but he learned something in the process to add to his personal skill set.
How did you profit?
- YouTube ads
- Affiliate marketing through links for the parts and tools needed
- Option to opt-in to an email list for future marketing
In the remainder of this post we’ll cover the basics of what it means to be an infopreneur. What one is, how one makes money, the challenges, and how you can get started today!
What is an Infopreneur?
An infopreneur, a mash-up of “information” and “entrepreneur,” is someone who creates and sells information products. These products can take various forms, such as videos, blogs, ebooks, online courses, webinars, podcasts, or even consultancy services.
The Infopreneur’s Toolkit
Infopreneurs use a number of tools to get to the goal!
Market Research – Just because you know something doesn’t mean someone else wants to know it. Make sure you find out if someone wants to know. The way you do this is through market research. Find out if there are enough people interested in the subject before you start creating.
Online Presence – Once you have figured out if people want the info you have to offer you need to establish a platform. The three most common items you’ll need to create is a website, active social media profile, and an email list for communication.
Content Creation – Now that you have set up the tools to create your presence you need to create content. The total purpose of the content must be to help people get to their goal.
Digital Marketing – You have info people want, a place to showcase and some inventory (information). Ok, it’s time to tell the world. But not everyone in the world just the people that are most likely to be your audience.
Sales Funnel – Fantastic! People are coming to your platform. It’s time to make money by directing them down the growth path of knowledge development and the development of your income!
How Do Infopreneurs Make Money?
Now that we know what an infopreneur is and what tools they use, let’s explore how they turn their knowledge into income.
Advertising
YouTube’s partner program is the best example of advertising revenue. You create a helpful video and people will watch it. YouTube will run ads and share in the revenue. With this model you focus mostly on over-the-top engaging content. The longer someone stays on your video the more opportunities you have to show them an ad.
Affiliate Marketing
Infopreneurs promote products or services related to their teachings. In most cases these products are tools, services or additional trainings that help move the audience to their goal.
Product Sales
Creating a info product is the next level. They create and market information products in their niche. These can be in the form of ebooks, video courses, or other digital content.
Consulting and Coaching
Infopreneurs often monetize their expertise by offering consulting or coaching services. Clients pay for one-on-one guidance, advice, or personalized solutions. This is particularly common in niches like business, health, and personal development.
4 Keys to Being Successful
Building Trust and Authority
Establishing trust and authority within a niche is crucial for the success of infopreneurs. Here’s how they do it:
Content Quality – Your content has to be transformative! If someone consumes your content and has not gained something it’s not a quality product. Just know content quality, be it video or text, is not high level or elegant presentations. It is something your audience can grow on.
Transparency – Sharing personal experiences and insights creates a connection with the audience. In short be a real person!
Social Proof – People like getting other people’s opinions. Social proof is nothing more than that! An example of this would be a positive comment on a YouTube video that help accomplish something.
Consistency – Regularly producing content and engaging with the audience keeps them coming back for more.
Challenges and Risks
While the life of an infopreneur can be rewarding, it’s not without its challenges and risks. These include:
Market Saturation – Too many people in a market and there is not enough dollars to go around. The key to combat this is to resonate with an audience.
Changing Algorithms – “The Google” is going to change. The best way to handle this is not to vest too deeply in any one avenue of customer aquisition and to build a customer database through email!
Content Updates – If you were in the CB radio business in the 1970s you had customers. Today not so much. The way to combat this as much as possible is to have content that is as evergreen as you can make it.
Customer Expectations – Meeting customer expectations and providing value is a continuous challenge. The key to this is fully explain what you are providing and deliver it at a price that is makes sense. See John explanation above. John’s cost of the info was zero and he learned and saved money!
Bar None, the BEST Tip I Ever Learned!
You have decided to become an infopreneur. You are going to create an online learning hub where you become an influencer to monetize your knowledge.
Right?
But what if you don’t know anything that is sought after?
Listen, an infopreneur is an entrepreneur not necessarily a knowledgeable resource. Therefore, you are creating an infopreneur business. The keyword there is business.
So here it is. . .
YOU DON’T HAVE TO KNOW ANYTHING, YOU CAN GET YOUR INFORMATION FROM SOME ELSE!
Becoming a successful infopreneur is about leveraging knowledge and passion into a sustainable business. By creating valuable information products, building trust with your audience, and adapting to industry changes, you can turn anyone’s expertise into a lucrative venture.
In the world of infopreneurship, it’s not just about what you know, but how effectively you can share it with the world.
How You Can Get Started Today
Check out my journey. As described in my story page, I have been in the information biz, doing different things, for quite some time.
While I have built many websites, starting in the mid 90’s, I have never built a BLOG. I’ve set up quite a few but never built one out.
In this BLOG I am going to share methods, tips and tricks to build and market information.
In the process I am going to share how this BLOG is performing.
So become an insider and get email notifications of new information!