Does the concept of earning money while you sleep capture your attention? Have you considered writing a book, creating information products, and finding new ways to leverage your expertise in the marketplace? After reading the success stories about professional service providers who turned their expertise into cash through the creation of information products, the idea of leveraging my expertise in this way became too intoxicating to ignore.
My public relations business had gotten to the point at which I couldn't trade any more time for dollars and still have time left to sleep.
Make money while I sleep? Sign me up! Since hiring employees or subcontractors to manage the workload are not my preferred methods to achieve business growth, I needed to create a way to deliver value to others in a one-to-many way that would return revenues to my company, and allow me to achieve better balance in my life.
In April of 2006, I put pen to paper to write the my first information product.
By July 12, 2006, the finished printed materials and downloadable versions were ready for sale.
Since then, I've created a host of other information products and training programs.
I've also launched a path as a professional speaker to make the most of the impact of delivering a message one-to-many.
Today, 2 ½ years after the creation of my first information product, the do-it-yourself (DIY) publicity division of my company contributes meaningfully to my company's revenue streams and profitability.
Now, I can serve fewer retainer clients, earn similar income, and look ahead to even better results to come.
Even my CPA is nodding his head in approval.
That is not to say I haven't struggled with moments of fear and self doubt or worried and wondered if the shift in emphasis from delivering professional services would somehow backfire as I shifted a good portion of my business to more of an online/retail model.
Here are the most humbling and useful lessons I've learned along my journey to becoming a profitable information product marketer.
These tips may prove useful as you consider taking a similar trip to potential prosperity.
1)The road to information product sales is not a get rich quick scheme.
2)In the beginning, it's easier and definitely more profitable to trade time for dollars than to develop and learn the systems for sustaining and promoting a line of information products.
3)Don't reinvent the wheel.
Engage experts to accelerate your journey.
4)Create a starter product, and add to the family as inspiration and opportunity strike.
5)Create products in printed and digital versions to appeal to customers with either preference.
6)Products that appeal to sight, sound, and experience sell better than those that appeal to one sense alone.
7)Workshops and public speaking have proven to be the single best ways to invite consistent and ongoing purchases of my information products.
8)Don't underestimate the appeal of a sassy event name.
9)Learn how to sell your products from the back of the room to make every speaking engagement - paid or not - pay back to your business for your investment of time, passion, and effort.
10) Buy a digital recorder, and learn how to use it 11) Receive the endorsements of those with the influence to carry your message far and wide, and return the favor.
12) Don't be afraid to ask for what you want.
13) The long sales letter you pay the expensive copywriter to craft is not necessarily better than the one you write yourself.
14) Just because you post the letter to your website or blog doesn't mean people will buy.
15) Branding matters.
16) Don't skimp on the packaging.
17) Promote products in a wide variety of ways consistently.
18) Nothing you do one time is enough to deliver ongoing results.
19) The learning never stops.
Be prepared to learn a new vocabulary of terms and tools to grow the information product division of your company.
20) It's overwhelming at times how much there is to learn and do.
Get over it.
21) The idea of "earning money while I sleep" is a myth so far.
Since creating my first information product, my mission has remained consistent and true.
It is to empower business owners everywhere with useful, time-tested, and proven tools and tips to help them get seen, heard, and celebrated in their own backyards ...
and beyond through the power and impact of free publicity.
As a consequence of supporting others along their journey to success, my own success has grown.
The "thank you" notes I receive every week from happy customers all over the USA demonstrate to me that I am delivering on my mission.
These notes are posted to bulletin boards in my office to fuel my enthusiasm to stay on this path.
Do I still provide fee-for-service public relations consulting? Absolutely! The fee-for-service work I do for quality organizations like Seattle Chocolate Company and others keeps me credible as a work-in-the-trenches publicist who knows what it take to earn "ink and air" in the traditional, online, and broadcast media.
This work also fuels compelling stories I can share that showcase how you can do the same for your growing company.
The revenues that flow from information products, training, and speaking now contribute meaningfully to my company's success, too.
This work provides a great deal of career and customer satisfaction, while making me less reliant on any single client to meet my obligations and achieve my goals for profitability.
Am I glad to ventured out on this journey? Absolutely.
Was it easy? Absolutely not.
Would I take this road again if I was starting today? You bet! Now that you know the most humbling and useful lessons I've learned so far, you can get to success faster along your own journey to information product prosperity.
The only thing left to do is strap on your rocket belt, hang on tight, and get to work.