An information business is a business where your primary marketable “good” is information. This can be information teaching someone how to do something you know how to do well, information teaching about something, or information teaching how someone else does something. The bottom line is, an information business sells . . . information.
Before I dig into some of the different ways that you can sell your knowledge or information, I want to give some personal insight on the business of information marketing.
You see, it is easy to get into information marketing with the pure concept of just wanting to make money. And I think that is okay as an initial driver, and as a long-term goal. However, if making money remains the only driver over time, I have discovered with my clients that long term success becomes elusive.
The reason for that is that when your long term focus is simply generating money, the products you create, the emails you write, and the relationships you build, reflect that focus. And because of that, people tend to now want to invest as much with you. In short, they don’t want to spend as much money with you. And this means that when you focus on making money as the ultimate goal, you actually make less money.
Contrast that with genuinely wanting to help people. When you genuinely want to help people by teaching them, giving them information, and guiding them to success or mastery in whatever it is that you teach, they respond by choosing to spend more money with you, by choosing to invest more with you, and by choosing to buy more products and training and coaching. As a result, you make more money as a result of focusing on your clients and their needs rather than focusing on money as a driver.
In fact, not only will your clients tend to invest more when you genuinely want to help them rather than just take their money, you will also be more efficiently impacted to do the kinds of things that lead to making more money in the long run, simply as a function of choosing to help people first.
What if you had that level of drive to help others? What if you were driven, not by the desire to make some level of money, but instead by the desire to change the world? What if you could change the world by teaching people what you know?
Would that excite you? Would that drive you to excellence? It should!
And by having that kind of an attitude towards your business, instead of one that is just purely driven by money, you will help many more people. And by helping many more people, you will make more money (as long as you charge a fair price for your help). I’m not suggesting helping people for nothing (although I believe there is a place for offering a percentage of your time or training for a reduced price to those who are financially incapable of making your standard investment or paying your normal price.) What I am suggesting is doing all in your power to help others, place a fair price on your help, and help as many people as possible.
Perhaps right now you are thinking, “ but I do have an income goal.” And that’s okay. And it’s okay to want to be in business itself for the purpose of making money. Let’s face it, most people work because they have to. But some enjoy the work they do. And others don’t. Why? I believe it is because some people truly enjoy doing what they do and others don’t. Two people might make the same amount of money, but one is happy with his work and one is not.
So I believe you can go into information marketing because you want a second income, or because you want to make more money, or because you want to be independently wealthy. But that is only the reason why you have a business in the first place. But in the daily operation of your business, your goal is helping people. Your focus is on helping people. Your focus is on changing lives. The money will follow.