We live in a post-industrial age where information is essential to ways of online business. Knowledge is the most valuable asset that a business owns. For most businesses, that data exists for the most part in the heads of the people who work there. For entrepreneurs and homebased business owners, what’s in their head usually is the business. That’s both limiting and dangerous.
Let’s take the example of a successful home based business consultant. Drawing on his knowledge and experience, he’s able to hire himself out at a sizeable hourly rate. The trouble is, every time he wants to make some money he has to trade away some of his time.
What happens when he goes on vacation and is no longer putting in time? His income goes on vacation too. What happens when he’s sleeping, or when he gets sick, or when he wants to retire? As soon as he stops putting in time, he stops getting paid.
Even if he could work 24 hours a day, 7 days a week, there is still a limit to how much money he can make simply because he can’t create more time. When you trade time for money, you put an automatic cap on your income potential.
Something else also starts happening to our home based business consultant. The more successful he is, the more his services are in demand, the harder he works. Did you go into business to work long, hard hours for limited reward?
Information products create passive streams of revenue for the homebased business entrepreneur, that is, an opportunity that flows money to you whether you’re working at your desk, lazing on the beach, or snoozing on the couch. How? You create the products once and then sell them over and over again. You make an initial investment of time and money and then reap the benefits in multiple sales. You can’t do that with time; you can’t sell the same hour twice.
What exactly is an Information Product? Quite simply, an information product is any chunk of knowledge that has been recorded in some fashion – whether that be in a print format, an audio format, or a video format – so that it can now be passed on to others. There are dozens of ways to package and sell information. Some of the most common products are, print books and e-books, booklets and special reports, manuals and workbooks, audio cassettes, CDs, or downloadable audio files, videotapes and DVDs, recorded videoconferences, and even subscription-based web sites.
Marg Roukens
202-657-5874
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Tri Power Team
