I truly believe that selling digital information online is as close to “the perfect business” model as there is for the home based business entrepreneur.
Digital information is simply info that has been “digitized” so that it can be presented, sold, and accessed online.
Now it doesn’t really matter what kind of information you have . . . the steps and process of selling it to others via the Internet will be mostly the same.
Remember, in a previous post we talked about the reason why people come to the Internet, surf from site to site, and search for products and services . . . they are seeking information of one kind or another.
Information is by far the most important reason that your info business has a chance of being successful . . . it’s the fact that you are offering what everyone else online is looking for – information! But, of course, not just any information will do. It must be high quality information, original or unique information, not just a re-hash of what can already easily be found online.
I’ll tell you exactly why this business model is such a “perfect business.”
You see, there are a ton of advantages and very few disadvantages to selling digital information products and services.
Information can be created and delivered online in the form of reports, newsletters, tutorials, ebooks, graphics, downloadable music, videos, the written word (like a text document), software, scripts, e-greeting cards, and on and on.
Information can also be delivered, not as a product, but as a service.
Services can be sold online through regular purchase, subscription, member-only web sites, as mentoring, digital transfer of expertise and proprietary offerings or systems, databases, email, varied other applications, and so on.
Information business developed, promoted, operated, sold, and delivered on the Internet is “the perfect business” when the following conditions exist:
- the owner can operate the business almost totally online,
- new products can be developed and packaged online,
- old products can be updated and reissued very easily,
- no physical inventory or delivery is required,
- the product is one that the owner has a keen knowledge about, experience with, skill in, or a burning passion for.
Besides these advantages we just mentioned, there are a few other reasons why information publishing is the perfect business:
- the costs of starting a new business are very minimal
- there is very little overhead or ongoing operating cost
- the products can justifiably have a high markup or margin
- every product or service created can be unique
- product creation and development can be as often as needed
- products are easily modified, repurposed, or updated as needed
- distribution of products can be controlled for security purposes
- all aspects (or nearly so) of the business operation can be automated
Now I want to give you a very important key to your business success: the perfect business for you is one that is unique to your talents and strengths as the owner.
Let me explain a little further.
I truly believe that everyone, that includes you, regardless of background or education, has a million dollar business idea locked away in the mind or person.
The subject of that idea will most likely be planted there as the result of who you are, the experiences in life you have had, your education, training, favorite hobby, or simply your passion in life.
In order to discover that idea, you must ponder and search for the things that make you different, unique, interesting, fun, knowledgeable, skilled, educated, or passionate. Your best idea for a profitable Internet business will likely come about because of who you are and what gets you excited!
You see, there are plenty of folks all over the world that will want to share in your enthusiasm, your experience, or your knowledge. And they will pay you for it!
To help you identify your possible business niche, ask yourself:
- What do you do that others might want to try?
- What do you know that others would like to also know?
- What skills do you possess that others would like to have?
- Where have you been that others might like to visit?
- What expertise or training do you possess that others don’t?
- I’m convinced that everyone is good at something. Even if you don’t feel qualified to teach others, you can still learn about an interest you have so that you can become a qualified expert.
- Did you know there are people creating successful businesses every day online because they are willing to explore and learn and even tap into the expertise of others? Really.
- Some of the top Internet business minds have simply taken a common product or service and presented it in a new light, organized it in an appealing way, or packaged it differently so that it sells.
- I can’t tell you the subject of the business that is right for you. You, and you alone, have to decide that.
- But I can tell you that if you pick a subject that you have no interest in or passion for, you will most definitely fail. Often, especially early on in the business development stage, it is passion and love of the subject that carries an entrepreneur through the lean months or years until profits begin to come.
- Hopefully, you will be encouraged to start your own business, whatever it may be. But give careful consideration to selling information. It’s as close to “the perfect business” as there is!
With so many advantages, it makes online business a no-brainer for many people that lack the time, resources, and expertise to go about starting up a brick and mortar business. The “old way” of opening a physical shop in order to do business can’t compare to online business in terms of speed of creation, ease of start-up, and cost savings.
A word of caution before you set out to make your business idea a reality: be sure to do your market research (for your business idea) prior to getting down the business creation path very far. You want to prove the profit potential of your idea. You want to make sure that prospects are looking to purchase what you are going to offer.
Sadly, the Internet landscape is littered with lots of products and services that no one want to buy! Don’t let that happen to you.
To your online business success,