What topic gets you excited? There’s something that you just can’t stop talking about. Someone mentions it and you’re off – enthusiastically sharing the wealth of knowledge you’ve accumulated on the topic. That’s the one I’m talking about. What if I told you there’s a way to monetize that passion and knowledge?
Meet your new business opportunity
There are some topics you’re passionate about that don’t lend themselves to being your new business venture. What we’re looking for are things you’re passionate about, have experience with, and are skilled at. If you’ve got professional credentials behind you, even better!
Let’s just say, as an example, that you love baking. Maybe you worked in a commercial bakery for a stretch of time or you’ve been nurturing a small catering business providing cakes and other delicious treats for a fee. Someone close to you has been diagnosed with an egg allergy and you’ve poured yourself into learning all you can about baking fantastic tasting food that’s free of that allergen. During the course of your research, you’ve created recipes free of the egg you set out to avoid, as well as recipes that are milk free, some that are gluten free, and so on. You’ve created more than just a repertoire of recipes you can bake and sell. You’ve created the basis of a business that can earn you money while you sleep.
An information product can take many forms, including: ebooks, audio programs, video courses, workshops, membership sites and more. Using our example above, you could compile all those scrumptious recipes into a cookbook and sell it. Alternatively, you could build a web site with a subscription based component. Your site might offer some free content in a blog and a subscription based, members only section that offers additional recipes, tutorial videos, and the opportunity to request customized recipes.
It works even if you’re not – sort of.
The beauty of an information product is that it can continue to generate income even when you’re asleep at night or away on vacation. You’re packaging your knowledge and selling it online. If your customers want to access your recipes at midnight, they can.
That’s not to say you can create, put it out there and never look back. As with any business, you need to spend time marketing your information product, managing the behind the scenes aspects of your business and creating the next big thing. Keep your eyes on our blog, because we’ll talk about how to market your information product next time! In fact, go ahead and sign-up to receive our newsletter and updates. You’ll find the sign-up form below this article.