If you have expertise that others will find valuable, infopreneurship might be for you. This guide explains what infopreneurship is and how to get started in this lucrative field.
You are an expert.
Now I know what you’re thinking – “I’m no expert at anything. I mean, sure, I know how to do certain things, but I’m not a genius.”
Don’t underestimate yourself. You are an expert who excels at what you do. You’ve been doing it for so long, how could you not be? And rest assured, what seems simple to you is maddeningly difficult for others.
Realizing that your expertise is valuable raises an interesting question: could you monetize your knowledge? You could with the right approach.
It’s called infopreneurship, and you can make it a full-time profession or a lucrative side job. Here’s what infopreneurship is all about and how to start working for yourself and become an entrepreneur.
Presentation: what is an infopreneur?
The term “infopreneur” is a portmanteau between “information” and “entrepreneur”, referring to a type of entrepreneur who sells their knowledge or expertise as a source of income. This person gathers information from multiple sources or from their own life experience and then creates content that they can sell.
These sole proprietors or solopreneurs are entrepreneurial and often incorporate personal experiences and create a unique media product. Examples of this are podcasters like Joe Rogan, bloggers and e-book authors like Mark Manson, and niche media platforms like Drudge Report.
4 characteristics of infopreneurs
Not everyone is cut out to be an infopreneur. In general, you must possess the following four characteristics before embarking on this type of career.
1. An outgoing personality
Introverts will find it difficult to become an infopreneur, as an essential part of this lifestyle is to be outgoing and open with people. You have to expose your personality and your ideas, and a partnership with other experts and infopreneurs is necessary. You must explore new ideas and concepts and also be receptive to new forms of technology.
And if you’re afraid of failing or making mistakes, this might not be the career for you.
2. A curious state of mind
Anyone working in the field of knowledge must have an innate curiosity for the world, especially for their subject. Infopreneurs must be interested in all aspects of their field and be ready to adapt to new information.
They should live their lives by constantly searching and exploring, and be driven to use that curiosity to inspire their audience. An infopreneur likes to be challenged and has an inquisitive mind that seeks the truth at all times.
3. An adventurous spirit
Infopreneurs, like all entrepreneurs, must be willing to accept risk as part of their profession. They must be comfortable with challenging the status quo and be willing to embrace controversial ideas. They generally defy authority and are willing to risk public failure. However, they quickly learn from their mistakes and use those experiences to continue to grow their infopreneur brand.
4. A will to succeed
Infopreneurship is a subset of entrepreneurship, so you’ll need the fire that all successful entrepreneurs have to succeed. You need to be able to motivate yourself because no one else will push you. You should have a burning desire to become an expert and help others solve their problems.
7 Infopreneur Business Ideas to Explore
If infopreneurship intrigues you but you don’t know where to start, here are some ideas you could try.
Once a fringe hobby, podcasting for infopreneurs has entered the mainstream, and some of the biggest infopreneurs have their own podcasts. They use their podcasts to build a brand around a topic or idea with regular discussions around those concepts.
They have guests on their podcasts to network with, and they use low-cost platforms like YouTube or iTunes to host those shows. They build an audience over time and are eventually able to advertise products to monetize the show.
Vlogs, or video diaries, have become popular on platforms like YouTube and Instagram. These infopreneurs cultivate a brand using videos about a topic or idea, usually topics like travel, DIY, cooking, and toys – anything that lends itself well to video. Like podcasting, these vloggers gradually build an audience and can become influencers who can earn money by recommending products or hosting ads.
Examples of successful vloggers include the Vagabrothers — two brothers who vlog their travel experiences — and Sawyer Hartman, who vlogs about his life experiences.
3. Ebook Author
If you have in-depth knowledge that others would find useful, putting it into an e-book is a solid idea for infopreneur success. Like regular authors, e-book authors write and publish books on a subject in which they have expertise, but they take advantage of digital marketing and publishing tools to produce the book at a very low cost, keeping their fees down. generals low and their profits high while building a loyal following online.
It takes an investment of time and a willingness to dig deeper into a topic – and it can take a lot of research. They can sometimes partner with traditional publishers, but their daily bread is digital publishing.
4. Training Videos
Sometimes people just want to figure out how to do something. Maybe they’ve broken the grip on their treadmill and want to know how to fix it, so they search YouTube for help and come across a video of an infopreneur walking them through the process step-by-step. If you are, say, an expert mechanic or carpenter, why not share that expertise with a series of clear instructional videos on YouTube?
Or you could become a tech infopreneur and help people figure out how to use the latest gadgets. If you build enough of a library and gain subscribers, you might get a large enough audience to raise advertising money – a good side job to your current profession if you don’t want to become a full-time infopreneur.
5. Online courses
An online course is another infopreneur activity that involves selling your knowledge to the world, although in this case it is for those who are more serious about absorbing your knowledge on a subject.
If you are a mechanic who works on refurbishing old cars, you can offer an online course for others who want to get into this hobby and charge a fee for the training rather than opting for the model advertising like other infopreneur ideas.
If you want to interact directly with your audience, webinars are a great option to share your expertise and start a conversation. It’s great for building a brand, and you can make money either through advertising, subscription fees, or both.
This is a more personal infopreneurship method that involves having a client who pays a premium for your expertise. An example of this is a business consultant or personal trainer helping someone get in shape. With coaching, you still need to have a marketing plan to attract those high-budget clients, although you can only rely on networking if you’re connected enough.
Look for tools that can help you
Entrepreneurship in general is a challenge, and infopreneurship is no exception. Even if you want to do it all on your own and not hire help, the software will keep you organized and automate many things you don’t want to do.
E-commerce solutions for entrepreneurs can help you create an online store to sell your information products. Email marketing software will help you build a customer list. Project management software will help you create your next information product. There are plenty of other solutions that can help you solve just about any trading problem you’re having, so try out a few platforms to see how they might help you.