How to create your own lane as an “Infopreneur” earning six figures
How valuable is information and knowledge these days? Priceless.
Information is vital to one’s personal growth and business development. Access to information leads to empowering, life changing decisions that can impact people’s lives for the betterment of their future.
Think back on the number of times you were grateful for the sound piece of advice from a mentor. Or the motivational book you read while on your personal spiritual journey. The information may have helped you adopt an incredible profound, spiritual awareness that changed your trajectory. When knowledge is used effectively it can truly empower those in need.
I am a firm believer that the greatest asset you can ever possess, is the ability to hone in on your skills and talents. We must understand what that skill set is, once we do, we can find ways to monetize them.
Did you know, that you can turn your “knack” for knowledge into a side hustle, or a full time business as an “Infopreneur”?
What exactly does an “Infopreneur” do?
An “Infopreneur”, creates target specific information, products and or services, relevant to their expertise.
Serial entrepreneur Tara Reid, decided that she wanted to build an app for her startup Kellecto, an art recommendation app. Having no prior experience is coding, She taught herself how to code. With the knowledge she learned, Tara began teaching entrepreneurs to code thus, the birth of her new company Apps without Code.
The benefits of being an infopreneur
You already have the knowledge, so you don’t have to research extensively nor spend a great deal of time and money acquiring what you already know.
The costs associated with building an infopreneur business is significantly less expensive than starting a company.
The information that you have is valuable and should be shared with people.
You can charge however much you want, it’s your knowledge! You don’t need to worry about pricing competitively to “keep up with the market”.
There are several ways in which you can package and sell your expertise, you don’t have to commit to one.
I’m going to give you 10 ways to package your expertise and turn those ideas into a legitimate business or side hustle.
Identify your expertise
I think it’s important to understand the value of your knowledge and how best to use it. Create a list of topics you feel confident in sharing. Focus on information that someone would find useful. One way to test out your business idea is to create a survey and send it out to a list of prospects who may be interested in learning more about what you have to offer.
Use Facebook groups or online Forums
Search Facebook Groups or online forums where your target audience may be and start a conversation pertaining to a topic. The best way to introduce your brand is by answering questions that the group may have. Compile a list of questions and see if you can create an informational resource using the feedback from the group. Use online forums to encourage users take your survey or to promote your products and services once you narrow down your business idea.
Questions to think about when identifying your expertise
What am I best known for?
What do people say I’m good at?
What information do I feel strongly and or passionate about teaching?
Start by making a list of 5 things and or experiences that you’ve learned and feel comfortable with teaching.
Identify your target market
Now it’s time to narrow down your target market, including your audience. Who would benefit from your knowledge? What are their ages? Is your audience Male? Female? Organizations?
Here is where I want to you to think about how you want to build your personal brand as an industry expert. I think it’s important to create a personal brand based on your level of expertise because you aren’t necessarily building an organization that offers a product. You’re building a brand based on who you are including your expertise.
Here are a few questions to consider when creating a personal brand as an infopreneur:
What do you want to best be known for?
What is the first thing that should come to mind when people hear your name?
What reputation do you want to be known for as an industry expert?
Make a list
Make a list of topics or subjects in which you want to provide informative insight for your target audience.
Choose how to package the information
Choose the best way you feel comfortable with sharing your knowledge, whether that’s public speaking, in a newsletter or a blog.
Ideas for packaging and selling your expertise
“Oh God, not another ‘blogger”! Umm yeah, did you know that today’s top bloggers have earned upwards of seven figures by building a reputation from their knowledge? From Beauty Bloggers to Gamers, there’s an audience out there that will appreciate your knowledge.
Find an area of expertise you feel confident in sharing. Create a list of topics you wish to discuss, write, record and upload the information to your blog site. Promote and market your brand and watch your audience grow including sales. You can even charge a membership or subscriber fee for accessing your site.
Podcasting is a great way to build your brand as an industry expert while growing your audience. Starting a podcast is relatively inexpensive other than the equipment. If you chose to video record each of the segments that would add to the ongoing expenses of operating a Podcast.
One way to monetize your Podcast, is by charging a monthly subscription fee for viewers to access your content. Sponsorships are another way to monetize your Podcast. Podcasts may be ideal for the following experts:
Real Estate Professionals
Rather than opting for a blog you can create a monthly Newsletter. You can create DIY tutorials or any informative content your audience may feel is valuable. Have subscribers sign up via your website to receive the monthly newsletter. Market and promote your newsletter on social media.
YouTube is now the world’s 2nd largest search engine. An estimated 1.8 billion people who are registered on the site watches about 5 billion videos daily. You can learn just about anything from YouTube. The video sharing platform is a great way to build your brand, grow your audience, and an excellent source for uploading your content.
Online Course Creator
Online courses are great for those who want to educate their audience in a more formal online training setting. Creating courses are a lot of work up front, however, when done right, the earning potential is incredible! There are several sites such as Udemy and Course Craft that allow entrepreneurs to have their own online schools. There are costs associated with utilizing these platforms. Most of them are user friendly and easy to set up, so you don’t have to be a “techie” to figure out how to use them.
I personally like the idea of hosting workshops, as it gives you the opportunity to connect with your audience face-to-face, which helps create a more personable experience. If you’re on a tight budget and looking for venues to rent, try your local co-working space. There are a few co-working spaces that allow non-members to rent conference rooms. You can also try peerspace for affordable options. Another alternative, partner with a local café, restaurant or a space that often hosts events.
A Research consultant provides data from credible sources, to companies. The best way to start your consulting business, is to choose an industry or a profession. Explore a Niche area of expertise. Niche services are advantageous, especially in an area in which you’re passionate or extremely knowledgeable in.
Self-publishing a book is lot easier to achieve today than 25 years ago. Authors can easily find inexpensive ghostwriters, copywriters, and even book designers for book covers. Social media has given authors the ability to promote and market their work for little to no cost. Selling platforms such as Amazon have given authors both access to consumers and a marketplace to sell their books.
Public Speakers earn their living by engaging with their audience on subjects related to their expertise. Specialized and Professional public speakers can share information, give feedback or opinions on topics as a panelist.
As a consultant, you can leverage your expertise, and focus on a specialized area. Choose a target market. Set a goal for the number of clients you wish to take on, companies you want to work with and the rates you want to charge. Get certified if necessary for your field. Start your consulting business as a side hustle first, then transition into the role full time when you have a solid customer base and network.
As an Infopreneur, you only need your expertise to get started. You’re already equipped with the tools you need to have both a side hustle and a full-time business. The startup costs associated with starting your brand are relatively lower than launching a company selling products. Lastly, the earning potential is endless, as you aren’t competing with a saturated market, or pricing a product to sell. Think about what information you think is valuable that can be taught and how you wish to package that info.