Creating an information product is low investment and can give you profitable return. The resources you ever needed are your life experiences, knowledge and effort to create it, and then the website systems to promote and distribute your information product to the customers. Once successful, you can make money as an infopreneur.
This is the definition of infopreneur; “…a person has to take information, package it into an information product, build a business around it, and sell the information. That is practice of infopreneur…”
Amongst the successful information product creator, Pat Flynn is one of them. Pat Flynn is being known as online entrepreneur and founder of website Smart Passive Income, but before the Smart Passive Income was launched he has already made his own success selling information product on the website call Green Exam Academy. But according to Pat’s story described in his Kindle E-Book “Let Go” he never had a plan to be an online entrepreneur nor infopreneur career at all. Things had come to him unexpectedly. It was interesting; here is the brief story of this case study.
Infopreneurship Starts with an End
Pat Flynn was an architect whom works for MBH Architects Company. He started off as a drafter and in order to get promote to Job Captain and earn decent salary he must possessed 8 years working experience and passed specific exam and internship, or another option is to go for LEED Accredited Professional (LEED AP)
LEED is stand for Leadership in Energy and Environment Design and the exam passing rate is only 35%. But this is the only way that Pat could boost his career path from Drafter to Job Captain so he decided to go for it. The study was difficult and he had a lot of hard time working it out, he adapted his new way of study by putting all the information into the blog so he could wrap up what he had learnt and also could do some revision on what he had wrote before the examination was taken place. Finally, all the effort he put into study was successful. He passed the exam and promoted to Job Captain.
In 2008, soon after Pat was promoted, USA economy was down and his company started to lay off staff. Pat was the one that also got laid off. He has only few months to clear the work. It was unexpected and he was struggling to find a new job but none of the firms in USA were willing to hire any architect at the time. Apparently, one day he was listening to Internet Business Mastery podcast during the way to the office and it was talking about making money online and website monetization. Long story short, Pat attended the mastermind group and got the advice to monetize his knowledge by creating an e-book.
At that time, his website that he shared all the unique and useful contents on LEED AP study guide was getting 5000-7000 visitors per day. He put all the effort under few months left before the lay-off day creating a 102 pages e-book The LEED AP Walkthrough by Pat Flynn and he launched it in October 2008 (the last month of his employed career). At the end of the month, he sold an e-book in total of $7906.55 which is far more than he had ever earned from his Job Captain position. After then, he had never been employee again and his e-book still sells well until today. According to his income report of April 2013, it earned $3,110.19.
Infopreneurship starts with an end. In fact, if Pat Flynn wasn’t laid off, he is probably still an employee of an architect firm until now. As mentioned in Kindle E-Book Let Go;
Keep your head high and thank your former employer for taking the chains off your potential
How Pat Became Very Successful with His Information Product and How You Can Apply the Techniques
Basically, it came from knowledge that Pat built up along while he studied LEED AP. By putting the unique and useful contents in form of blog posts, they ranked in Google search result pages (SERPs), then they attracted audience, get some backlinks and built authority on his own site for being an expert in LEED AP study guides. He monetized his information by putting the contents into an organized package of E-Book PDF File, uploaded it on E-Junkies.com and launched the sales page with Buy button which connected to Paypal.com. That all it was as a process of creating and selling E-Books, but there are more sophisticated story behind the curtain.
There is a question about who would buy an E-Book when people can read for free on the website. In fact, people are willing to buy a well-organized package of information product that ready to consume rather than searching around the SERPs, scrolling through ton of web pages and filtering for the only contents they need.
A package of information product like E-Book eliminates all the ground work mentioned above. When people need an information or solution to solve their problems, they need it immediately and E-Book does the job. That’s why a repackage of useful contents get bought by people over and over again. Another strange but nice thing was some people who read Green Exam Academy website earlier and passed the exam already before the distribution of E-Book came back to buy for the purpose to thanks Pat.
So the principle of becoming successful infopreneur you must have some authority over the contents you create. The best way is to run a website and put unique and useful contents that might help people feel good, solve their problems and give them solutions in certain area. Once people find you on the internet and start to follow your website, they become your readership and you are build up your authority on the website. These connections create trust and lead to potential sales when you release your own product in the future.
At this point, you might have realized that you have some experience within yourself. Something you are interested and spent a long time working on it and eventually became your area of knowledgeable or expertise that you talk about all they long. That the key to your information product. But first of all, you need to build your tribes. If you have something you love to share to people or help, guide, instruct or whatever you want to call, you can start a blog on that topic. I admit that building contents and tribes take long time. It does not happen overnight, and not even over month. May be 3-6 months before you start to get notice, but you must start now if you know it.
I have talked to some people that they wanted to have an authority site that sell their own information products and not have to stick to only Google AdSense, but they did not bother start a kind of blog because it takes time and effort to build the authority site, at least 6 months or more, they assumed. And when I asked how long they have been wishing to do have such as website, the answer was “a year ago”. Well, here is the interesting point. If they moved their butt and started-off a year ago, then they would had passed 6 months startup and become an authority blogger by now.
So, if you want to do something, do it now or as soon as possible. It only takes a single step to start what you want to do and the momentum will move you on the progress.