In this post, I will be showing you exactly how to tap into the most cost effective and easiest (in my opinion) online business to get into.
I will share my personal experience as someone who makes over $30k/month as an infopreneur and also share a Forbes interview with a multi-millionaire entrepreneur that solidifies infopreneurship as a business model to take advantage of.
This will be an in-depth post with a lot of nuggets and practical advice.
Lets get started.
So, there are different routes to entrepreneurship.
Some entrepreneurs create and sell great products, some provide unique services, some come up with incredible ideas, and some build upon an existing idea.
At the end of the day, the sole purpose of entrepreneurship and business is supplying a demand.
But there is a new style of entrepreneurship that is way more cost effective and is more inline with the digital world we are in now.
This is the called “Infopreneurship”
An infopreneur is an entrepreneur who makes money by collecting, organizing and selling information mainly in a niche market.
The term “infopreneur” is a combination of the words information and entrepreneur.
So, in simple terms – An infopreneur is an entrepreneur who builds a business based on information products. Instead of selling physical items, products or services, they sell information and knowledge on various topics.
Quick example: If I know that there are thousands of people who are looking to learn how to create a website without writing lines of code, then I can create an eBook or a video guide on how to do that and then I can market that “solution” (information) to those set of people.
This way, I am not selling a physical product or trying to create a unique idea, instead – I am supplying a demand (information).
Money making is all about supplying a demand.
Guess what? Its a WIN-WIN.
You get to make money and the people who need that information, get to gain the information and knowledge they need.
So, its a win-win! Its a business model that adds value to people.
Anyone with a computer and an internet connection can start an infopreneurship business by providing valid knowledge and information regarding a particular niche or topic.
As someone who makes over $30,000 a month as an InfoPreneuer, I’m here to help!
In this post, I will share a TON of tips on how you can become a successful Infopreneur – and this is not from “what I have read” or “heard”, this is derived from my own personal experience and from helping 100s of people do the same in various niches.
Okay, lets start with this.
Advantages of being an Infopreneur.
1. Low Overheads.
So, one of the things that holds people back from starting their own business is always capital and money required to setup the business.
For an infopreneur, this is removed because all your business and product is – is basically “information” and this is an intangible product a.k.a its a Digital product.
This also means that once created, the work is for the product is done and it can be sold to 100, 1000 or 10,000 people without having to re-create anything or having to adjust the product.
Do the work once and it can be sold countless times over and over again.
2. Can be done from anywhere in the world.
The internet has really broken the barrier involved or needed for business and commerce.
As an infopreneur, you can be based anywhere in the world and sell to anyone in the world (but my expert advice is to always sell to people who are local to you, because you understand them more).
Even at that, you can be in your room and be able to sell to thousands and millions of people without having to step a foot outside the door.
This is what makes infopreneurship an ideal business model for the modern day hustler and entrepreneur.
3. Can Be Outsourced Fully.
Okay, lets assume you do not want to do any work at all because you are busy or you just don’t like to put in the work (lazy you), you can outsource the entire digital info product creation process to someone who is more skilled in putting digital info products together.
You pay them to create it and then it’s yours to sell and re-sell as many times as you want.
This becomes an asset to you and your business.
Let’s assume that worst case scenario – you pay someone $100 to create your info product. This is now your asset and let’s assume you sell your digital product for $37, You only have to sell 3 copies and you have made back your investment and from then on, you can sell it to 100s of people over and over and over again!
So, you have just turned a $100 investment into a real serious business that brings you daily / monthly income.
I know you are thinking to yourself like “How do I make sales”, well – I will show you in the coming section.
I got you.
4. There’s a HUGE Demand.
Let’s take Nigeria for example because I am Nigerian and a handful of my readers and audience are Nigerians.
Nigeria has a population of over 200million people and as a Nigerian, I know that almost everyone and their dog has a smartphone and uses the internet and this is the same for other African countries and of-course – European countries as well.
What I am trying to say is that the world has gone digital and everyone is on their phones and on the internet looking to consume content and information.
We are now in the information and knowledge economy where people will pay you more for “what you know” (information/knowledge) than “what you do” (manual labor)
With a culture of instant gratification and shorter attention spans, people are increasingly looking for information to teach them the RIGHT strategies and methods in an organized manner.
If you don’t supply the demand, someone else will.
How The Famous “Akin Alabi” started as an InfoPreneur. (Forbes)
In an interview with Forbes in 2018, Akin Alabi – the Nigerian politician, entrepreneur, author and philanthropist spoke about his beginnings as an InfoPreneur.
Read the excerpts from the interview below:
The entrepreneur-investor likes to spend his days identifying specific gaps in the market and providing solutions to address them.
Over the years, he has identified many ‘starving crowds’. He found the first one just after completing a diploma in business administration in 2001. At the time, there was a growing desire for Nigerian youth to travel abroad, especially to Canada, in search of greener pastures.
According to data from the Canadian immigration service, as many as 27,625 immigrants from Nigeria were residing in Canada by 2011.
Alabi tried his luck too.
In 2001, after his visa got rejected, he decided to collate his experiences navigating the complicated visa application process and sell that knowledge online to first-time applicants.
“So anything I learned, I created the information pack and I put it online and sold it,”
“I started downloading information tutorials and videos about the Canadian application process. I put all the information together and said some people will be interested in this so let me put it out there for sale.
So in January 2003, I launched my first business, which was selling information products, and the first information product was this Canadian visa package,” says Alabi.
The guide was an instant hit. Alabi was selling it at N10,000 ($28) per copy and over 100 copies later, he knew he had struck a gold mine.
It was time to find other crowds. Alabi decided to share his experiences making money online through his new startup in another how-to guide, which also found demand. After the success of the two digital products, Alabi decided to register his company at the Nigerian Corporate Affairs Commission (CAC).
“I went there myself and I did everything myself and I was surprised I didn’t need a lawyer. So I created another information product – how to register your business with the CAC without a lawyer in 21 days or less. I put that out and people were buying. So anything I learned, I created the information pack and I put it online and sold it,” says Alabi.
He had stumbled on a booming industry.
According to Stratistics MRC, the global e-learning market accounted for $165.21 billion in 2015 and is expected to reach $275.10 billion by 2022 growing at a CAGR of 7.5% during the forecast period. The flexible learning, low cost and easy accessibility of the market bolstered by the increasing proliferation in the internet during the dotcom boom, presented Alabi with a hungry market eager to grab anything offered online.
After the success of his digital offerings, business began to slow down, but Alabi wanted more growth. He decided he would venture out of Nigeria to the land of milk and honey, in search of that elusive wealth.
“I got to the UK and wanted to work. I looked at the potential of what I could make and after four months, reality dawned on me. I didn’t want to become an illegal immigrant and felt I was better off doing what I was doing in Nigeria. So I said ‘I had something going for me, it might not be big but there was potential’. I said ‘let me go back and make it bigger’. I was not investing in the business so it was time to do it properly.”
But before leaving the UK, a chance encounter with the bookers would lead to the serial entrepreneur’s most lucrative venture yet. His brother called him from London while he was in the town of Milton Keynes to make a bet in an online sports shop for a football game so they could win some money.
“So I played and I made some money and then I played again and I lost and I played again and I won. And I said ‘wow, anybody can do this and people in Nigeria will love it’.
So I wrote down on paper, how to make money from football betting. It was just 14 pages and I put it online and I called my friend in Nigeria to help me go and run an advert in the local newspapers,” says Alabi.
He invested N200,000 ($555) in the advert and made N450,000 ($1,248). That demand was going to progress from online content to a new customer base wanting a platform to bet on sports.
(These were the days before Facebook Ads or Youtube Ads became so easy that anyone can use it)
Now, Back to my post.
How to Become an Infopreneur.
#1. Choose A Niche.
So, the key to a successful info product business is the niche.
What is a niche you might ask?
There are a lot of definitions for what a niche is but I always describe a niche as a need to be filled.
Why I define niches this way is to help my students and people generally understand that niches are not just segments of people or a market but rather a niche is a segment of people who have a need that needs to be met.
If you think of niches this way, you will not be stuck in the circle of trying to “find a niche”
Example of niches:
People interested in solving an health issue (there are 100s of different health issues which means millions of people searching for information daily)
People interested in traveling (the travel niche is worldwide hot niche with different verticals which means 10s of millions of people searching daily)
People interested in learning a particular skill (there are 100s of different skills and knowledge people are trying to learn which means 10s of millions of people searching daily)
People interested in achieving particular goals (so many people have different types of goals that they want to achieve, which means millions of people searching daily)
The list goes on.
But in order to pick the right niche to create an info product for, there are some tools that can be used for “market research”.
Some of these tools are free and some are paid.
These tools allow you to ensure that before you even decide to create your info product, you already validate the market and see that people are indeed searching for this with an intent to learn.
The “intent” is key because you do not want to create an info digital product around something you “think” will work or something you “like”, you always want to create a product and business around a niche that has an intent to learn and willingness to pay for the information.
You can use free tools like GooglTrends and Google Keyword Planner for your market research.
#2. Choose The Format.
There are various formats a digital info product can come in and as an infopreneur, you have the power to choose whatever format you prefer and feel the information you have to share will connect most with your targeted niche.
The most common (and most money making) niches are:
- Ebooks – An ebook is a lengthy text that provides thorough information on a subject that interests your audience and aims to solve their need. An eBook is basically just a word document converted to PDF. How crazy is that a PDF file can be the sole product of your online business? Crazy right?
- Tutorials – Tutorials provide step-by-step instructions on how to do something. They’re often videos, but can also be thorough eBooks that includes specific instructions and helpful screenshots.
- Videos/Courses – Sometimes videos are tutorials, but not always. Informational videos are used when the topic or information you intend to share with your audience requires more than just text and requires them to see and hear what you have to say in order to get the information.
I personally do all three (3) of them.
Some of my info products are in eBook formats and some are in tutorial videos.
Its important to know that eBooks are the most simplest to create and most info products are in eBook formats.
Professional Hint: Start with an eBook.
#3. Get A Landing Page.
This is important.
In order for people to buy your digital info product, they need to be able to do so with ease.
So, there is a need for a website – not a big website that costs a lot of money to create but just a simple one-page website (also called Landing page) that explains what the product is about and has a button for them to buy.
Unlike other types of businesses, an info product business does not need a fancy website.
You can make use WordPress landing page builders like Elementor or Thrive Architect. (This will save a lot of money compared to using platforms like Clickfunnel or other monthly paid platforms)
If you need cheap website hosting, then you can make use of this one here that costs just $1.99 for 3 months.
So, get yourself a landing page!.
#4. Send “Targeted Traffic” to Landing Page.
I do not believe in “luck” or “waiting for people to find me”
I believe in putting myself and my products infront of people by spending on paid ads.
Most people wait for people to find their products or business. (do not be like them)
Instead, you should leverage cheap and targeted traffic. Platforms like Facebook, Instagram, Google and Youtube have made running ads to people very simple. (you can be in your room wearing a boxer and run an ad to target 100,000 people in another part of the country)
So, you should take advantage of that.
Its important to point out that in order to actually create ads that will connect with people and bring them to your landing page to ultimately buy your infoproduct, you need learn how to run ads the right way.
You can choose to learn online for free or you can take a course by an expert who teaches it, the choice is yours.
Whatever you do, make sure you send traffic to your info product landing page.
The 4 Big Mistakes Infopreneurs Make.
As someone who makes over $30k per month from my Info product business and teach 100s of people on how to start their own Digital Info Product business, I know one or two things about mistakes most people make when they decide to enter into the Info Product business.
Here are 4 mistakes that you want to avoid as an infopreneur.
Mistake 1: Thinking that you have nothing to offer
It is easy to think, “Oh – I don’t really have anything in particular that I am good enough at to teach someone else”.
This is the first issue or fear most people have and its a justified fear.
Why do I say it’s justified? Because the whole purpose of an info product business is packaging information that helps people and making money from it, so that fear of not having something to “offer or teach people” is a legit one.
So, most people who teach online business advice or even Info Product business advice always ask people to create products around things they are passionate about, things they know, their hobby or things they have experience in.
This is where the problem lies.
Not everyone has things they are passionate about or knowledge worth sharing and most importantly – except what you are passionate about has a huge market demand, following the advice of creating a product around what you are passionate about is a flawed advice (in my opinion)
Instead, what I do and what I teach is that people should create info products around what other people are looking for and willing to learn.
You see the difference?
Everyone might not be able to create digital products around what they are passionate about and what they know but almost anyone can do some research and create a product around what people are looking to learn and are willing to pay to learn.
This was the game changer for me.
This breaks the fear of “I have nothing to teach or offer” and then makes almost anyone empowered enough to create a digital product just by spending a day or a week after picking a niche.
Guess what? No one cares about your passion, your hobby or your experience, they only care about what they want to know or learn and who can give them that information or knowledge.
Mistake 2: Getting scared by the techy stuff, so you don’t start
This is one of the emails I get from people.
The email goes like this “Daniel, I want to learn how to do this Digital Product business BUT I am not that techy and I don’t know all these techy stuffs”
Firstly, in 2020 – if you are still hiding behind this excuse, then you are not ready to make money or make a change in your life.
Life is now way more easier.
Just some years ago, creating a website or buying a domain was a huge deal (both in money needed and steps required)
But today, you can buy a hosting account and have your website live within 1 hour or less for as low as $3.99.
And you do not have to write any code, you can leverage tools like WordPress and import landing page templates for your info product website.
And if you do not want to do anything, you can use platforms like Teachable, they will help you host your info product and make it available for people to buy on their platform.
If you want to EARN, then you must be open to LEARN.
Do not let small things that you can learn within minutes hold you back from starting a business that has the potential to make you passive income with less stress.
Mistake 3: Thinking Online Business is Magic!
One of the things I have to deal with when it comes to newbies or people generally who start an online business (regardless of the type of online business) is the fact that – they have no patience.
They complain a lot and feel entitled.
Most people treat an online business like its not a real business and they expect results same day.
You will hear things like “I have done everything but I have not made any sale on my first day”
I get some who say things like “I have not seen any sale in 3hours after launching my ad”
Building a business is not an overnight thing. Any business worth having and building will take some time and testing.
Let’s assume you create an Infoproduct and after launching, you did not get sales.
What do you do?
Do you say – Oh! this does not work! OR do you go back to the drawing board and ask yourself these questions:
Maybe the product is not the right product and people are not interested in it?
Maybe my Ad targeting is not spot-on and I need to learn more on how to ensure that I am putting this product infront of the right people?
Maybe I should create a new InfoProduct or maybe create 3 more and test them to see which one connects more and starts making sale?
Maybe I need to be patient and let my product breath, let it run for a week or more before I give up?
Creating a successful business whether online or offline is not magic and its not going to happen overnight.
You need to learn and un-learn the things you think you know and you need to always be willing to go back to the drawing board to KEEP TESTING.
Never stop TESTING.
Mistake 4: Relying on “Organic Traffic”
Never do this.
Never follow this strategy of “If your product is good, people will find it”
That is the most stupid business or life advice you can ever get or follow. It makes no business sense.
This is another mistake most people make.
If you want to make money, you need to be willing to spend on Paid Ads in order to put your info product infront of people who are going to buy.
If you do not accept this or follow this rule. DO NOT START ANY BUSINESS (whether online or offline)
Big brands like Coke, MTN, GLO, Amazon or any other big brands that you know of never stop promoting and spending on marketing and ads even though they are worth billions and can get millions of customers for years without spending a dime on promotion but hey keep spending and keep putting their videos, marketing, and messages infront of you.
SO WHY ON EARTH WOULD YOU AS A BEGINNER, ENTREPRENEUR, SMALL BUSINESS OWNER OR SOMEONE WHO IS NOT MAKING THE TYPE OF MONEY YOU WANT NOT RUN ADS OR DO PAID MARKETING?
You see how I put that in all caps?
Well because it pisses me off when people think there is such a thing as “too much marketing”. That is an ideology of someone who does not know business or makes money.
Platforms like Facebook, Youtube, Google and the likes allow you to spend as little as $5 or more to put your message, video, product or whatever you have infront of tens of thousands of people without stepping a foot out the door.
Why would you not take advantage of this?
Marketing and advertising is good. Why? Because in order for people to get the products, information or help they need, business and entrepreneurs like you and I have to put our products, videos, or message infront of them.
I get SO MANY emails from people saying – “I am so happy I saw your ad”
Why? Because if I did not spend a token in ads to put my product or information I have in front of them, they will have never gotten that information.
Mistake 5: Not Having Guidance
As long as you are starting a business (any type of business), you will need guidance.
Whether its books, courses, coaches, or consultants, make sure you educate yourself.
Make sure you learn from someone who has experience and is an expert in what you are trying to do!
If you have toothache, you go to the dentist.
If you have law issues, you go to a Lawyer.
If you need your toilet fixed, you go to a plumber.
You get the gist.
Do not ever think you know anything. The best way to learn is to assume you know nothing and learn from the experts.
This will shorten your learning curve.
By the way, you can decide to fix your teeth issues yourself, or defend yourself in the courtroom or fix your pipes and toilet yourself. You do not need an expert, its a choice you have to make.
However, what will happen if you are an infopreneur?
In this post – I have shared my 2 cents on Infopreneurship and how you can take advantage of this business model and start today.
So many people see opportunities but they let it slide because of their un-willingness to either learn or un-learn what they already know or take advise from experts.
If you want to learn How to become an Infopreneur and watch as I take you on my shoulder and show you how to start this business from start to finish, then I have an in-depth training for you.
Click the PLAY button below to watch the video if this is of interest to you. (its not for everyone)
Let me know in the comments section what your thoughts are or challenges you are facing, lets have a convo!