Hear what my mentor, Bruce Batchelor, says which i totally agree…change the publishing business model and all parties can benefit

Change the publishing business model – abolish returnables/ no consignments….all parties can benefit from this …read more

 

Creating Wealth from Infopreneurship

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We discussed whether if we can make money from what we know…and briefly explained what is infopreneurship. However to be able to make money from it, you need to put what you know into something that you can sell.

So what kind of products or format that you can turn your information into?

The idea is to be able to convert these information into a format that you can share, distribute and thus create income from them.

Examples of the different types of products that you can convert to and make money from:
- Books, Workbooks, Booklets, Audio & Video CDs
- E-books, E-zines, E-learning, Online Reports
- Teleseminars, Training, Teaching, Workshops, Coaching, Public Speaking, Mentoring, Computer –Based Learning Systems, etc.
- Articles, Special Reports, Magazines, Games and many more

Creating Wealth from Infopreneurship

To make millions from being an infopreneur, you need to turn it into a Money-Making-Machine (M.M.M.). Making money and creating wealth is very different. Most of us are making money but not necessarily creating wealth. To make money is easy but to create wealth needs a totally different mindset. You need to work smart and one of the best ways to create wealth is to create these M.M.M.

You will probably need to spend some time and effort initially to build this machine and once it is built well, it will produce long term revenue for you even when you stop working on the machine. For example, if you are selling e-products, you can easily automate the system so that you can be sleeping and making money at the same time!

Infopreneurship can be a good M.M.M. as it fulfills the criteria. Compile your information once and turn them into a product, then convert them into many other formats that can generate more income.

The System
Many people are already successful infopreneurs although they may not know it. You probably can name a few, especially world-class speakers who not only speak, train and teach, but also sells a whole range of products in all different formats. Sound familiar? Yes you can do it too. As I said in the beginning, all of us have some stories within us or around us… so learn to leverage on it to create new income.

I am working and sharing with others on a simple system that i have created to help those who are keen to start their infopreneurship….will share more in my next blog…

Meanwhile….hope to get some feedback and sharings especially from those who have done it…

Cheers
Shum FP

 

Can you make money from your knowledge, experience and expertise?

 

I believe the reply is YES….  All of us have a story within… and it is through your years of experience that you may have a kind of expertise, knowledge or know-how that others may want to know about. These can be information that you may wish to share or it may even be something that may benefit others so that they can learn from what you have gone through. We often share these with our friends, family members or close associates but have you not considered that maybe we can actually convert this information into a format or product that we can sell and make some money from? For example, you may have worked for many years in a certain industry or in certain type of work and have built up your expertise in the area. At work, sometimes you train new colleagues or your protégé, coaching them on the work process, mistakes to avoid, how best to get the work done, etc. There may be others out there in the market place who is keen to leverage from your expertise in the area, or who are keen to engage your services to coach or train them. What are your potential sources of information You will be surprised at how or where you can get your sources of information. Ideally these information can be derived from your own learning, work or life experience. Or information  can be gleaned from your own passions, hobbies, interests, or talents. When you have such passion or interest in a subject matter, you tend to collect and compile information on these hobbies or talents of yours, consciously or unconsciously. At times, you may not realise the high pile of information that you have collected over the years, whether physically or mentally. Dig for them and you will be surprised! Your amount of knowledge on these areas can be of great interest to other people with similar interest or passion.  Even if you do not have the above information to share, you may have heard of some interesting stories, or dreamt of some crazy ideas, or have knowledge of some information that are not available publicly. Remember these may not necessarily be your own information but can be derived from somebody’s expertise, experience or knowledge. So can you be an infopreneur and make some money from it? That brings us to how you can make money from using this information. This is what we term as “infopreneurship”. Infopreneurs can be business person who collects information from several sources, and combines it into novel ways to serve the readers’ needs and making some money from it in the process. According to H. Skip Weitzen (author of the book ‘Infopreneur’), he describes an infopreneur as  ”a person who gathers, organizes, and disseminates information as a business venture or as a value-added service.” So it is basically “information” + entrepreneurs” = infopreneurs; or in simple terms, information marketing. Will People Buy? People will want to pay for expert advice. People will want to pay for a good story or idea. People will want to pay for information and knowledge and people want to pay to learn from others. It can all start with a good idea or a core expertise. What do you know that people do not. Even if you do not have a core expertise, if you know what the market needs, you can find the information to feed market needs and fill the gaps. You can look for undermarketed experts and take his or her idea to the market place. Basically as infopreneur…you need to also put on the “entrepreneur” hat and think what sells! Once you have decided what core information or expertise, or what the market needs…crack the codes! Test and test until you know how and what irresistible baits to use to make the sale.  I hope to share more information on infopreneurship in my next article….and in the meantime, if you have any comments, experience as infopreneurs or any advice, please do share with us…. Cheers Shum

 

How long have you been sitting on your book ideas?

When I give talks on self-publishing…I often ask this question and you will be surprised at some of the answers I get… So recently I did a research  on LinkedIn Polls and asked this same question…one of the results is 16% sat on their ideas for over 10 years and did nothing about it!…Is that sad or what?

You can view that poll results from here.

Well I started the same post here at my blog…Please join my poll at the sidebar.

I guess there are thousands and one reasons why we sit on our ideas and not do anything about them…Why we do not believe that we can write and author a book. Some of the reasons I can think of includes:

-Fear of unknown

-Fear of failure

-Fear of consequences

-Concern if you can do it

-Don’t know how to do it

-Not sure if this is the option

-Lastly….pure laziness or lack of focus

I believe these are just excuses and if you really have the passion and determination and you know what you want (what is your objectives or what you want to achieve)… you can make it possible. What we fear and concern about can be taken care of if we can learn to conquer those fears and face the concerns or challenges. For example we can educate ourselves, do more research, learn or work with others and what we can or cannot do is not a challenge at all. If you cannot do it, get help or outsource or work in partnerships. Or learn to do it yourself. 

Just as there can be thousand and one reasons, there can be thousand and two solutions. With determination, passion, commitment and a strong objective…nothing can stop you if you wish to write and author a book.

Any thoughts or feedback on this? Anyone manage to take action and want to share their experience. Would love to hear your stories.

Cheers

ShumFP

Author, Publish It Yourself    

About the Book, Publish It Yourself

Authorworks – Publishing Services

Recommended Infopreneur Application Tool

 

 

 

 

 

Hello Book Lovers

Hello…Welcome to my new blog on books….and anything related to it..be it about books that i have read, or how to become an author or how to get your books published…or even marketing tips, especially using social media marketing tools.

Would also love to share any ideas or offers related to books…and would love to hear from others:
- who wants to share or comments on books that they have read, especially business books;
- from writers, authors, infopreneurs, self-publishers who want to share their experience, learnings and success stories;
- anyone who knows of where to get best discounted books or any tips on how to market books etc

Looking forward to writing more and to hear from others

ShumFP

Author, Publish It Yourself

About the Book, Publish It Yourself

Authorworks – Publishing Services

Recommended Infopreneur Application Tool