I consider the information product business one of the best small business opportunities today. Why? You will be selling to an unlimited, worldwide market. Don’t limit your thinking to the locale where you live now. You’ll have people from all over the world who will be interested in what you have to say.
Starting an information selling business is requires very little startup funds. Even if you don’t have a computer at the moment, you can do the majority of your work with a pen and paper.
In the information business, there’s a high-perceived value in specialty information products, products that can’t be found in bookstores, libraries, or databases. As a result, there’s high markup. Pricing is not as strict as traditional printing and publishing because there’s no middle man. You’re the one who determines the price. And, from my own experiences, the higher the product price, the higher the perceived value.
But most importantly, writing and selling information is fun. It’s fun to watch as visitors come to your Website. It’s fun to know that anyone, anywhere in the world can create something from “out of this air” and sell it, all within a few weeks or days!
The following are four reasons why the information business is still an opportunity worth pursuing today.
1. No inventory.
When you hear the phrase “self-publishing” you shouldn’t associate it with what I’ve described as information selling. In self-publishing, you write your material, send it to a printer, they print several hundred–or thousand–copies which you store and sell. This method is only cost effective if you print thousands of copies in a single print run. Unfortunately, now you have thousands of books stuffed in closets, garages, and basements. I don’t know about you, but my motivation for pounding the pavement to try and sell my book using this method is nil.
2. No print or design costs.
The information you’ll be selling doesn’t require extensive graphic design or layout expertise. In most cases, you can buy graphics or photos that will suit your audience just fine. In today’s Web enabled society, the value is in the information itself, not the design.
3. No shipping or handling costs.
You won’t be shipping your information products. Your customers will either download the information or you’ll send it via email. Good news considering the escalating costs of shipping.
4. Virtual storefront.
You’re not in business to sit around and wait for customers to walk through your front door. Your information is delivered in real-time, as demand increases. Now you can mind your marketing instead of the store.
In the information business, you have the freedom to write about the ideas only you know about. If you have the guts and determination, you can turn a small information business into a full time endeavor.