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Monday, April 04, 2011

Information Millionaire: The New Era of Wealth | THE FOUNDERS DEN

Many young entrepreneurs are turning to the web in an effort to build a business around the perfect product: information. Think about it; what other product can be made for very little money (free if you create your own), is intangible so you don’t have to stock any inventory, and is almost pure profit from the get go? Exactly. Information products can turn you into a millionaire, with very little, if any, risk. Of course, it is not just a matter of creating an eBook, throwing up a link to your payment page, and waiting for the money to start rolling in. Actually, creating and marketing information products often requires more man hours than traditional products, but the money that can be made is staggering and limitless.

Regardless of what website you like better, or who has the best web browser, everyone can agree that the web has created a thirst for information that seems like it can never be quenched. The more access people around the world get to information, the more they want. Google is so popular because it is constantly improving and creating new ways to find and absorb information. Facebook and Twitter are so popular because they connect people in an intimate way, so they can share information. Yes, this is definitely the information age.

All successful Internet millionaires who make their living through information products follow a very clear-cut creation and marketing plan, just like you would in any other business. They won’t write one eBook and sell it. They’ll instead write an eBook, create a set of videos, create a DVD/CD, and write short reports that they give away for free in exchange for your email address. The really smart ones, when you leave their site after a transaction, will have at least your email address if nothing else. They then collect these email addresses into a mailing list.

That mailing list, if created properly, can be just like your own personal ATM. If you ask any one of the successful Internet marketers how profitable their list is, their response would amaze you. Having a list of people who you know are interested in a specific niche could be your only source of income if you wanted it to be. Some web entrepreneurs spend all of their time building a list, and working on their next information product. Then, when they are done with the product, they will send out their email campaign to their existing list members (who have been told way ahead of time that this new product is coming out soon) and sit back to collect the profits.

That list of customers you have, there is no form of advertising that can be more targeted and fruitful as that. You are selling products to customers of yours who not only have a proven interest in that niche, but have already purchased your products in the past. The most profitable information products are ones that solve problems, specific problems that people can’t get the solution to for free just by searching in Google. If you have the information that solves that problem, you would be surprised at how willing people are to pay money for that information, sometimes A LOT of money too.

The web has made it possible for a regular person, with no business or products, to create a product, and have it available for sale to anyone in the world inside of 24 hours time. So if you ever wanted to be a millionaire, now is the time to do it. The new age marketer is really the new age problem solver.

By Eric Rice

LWI and The Founders Den

The Founders Den

The Founders Den is a collaborative group of successful entrepreneurs, attorneys, investors, tax professionals, and advisors who are committed to sharing their knowledge, expertise, and resources to improve the environment for rising startup businesses. The Founders Den Members come from a variety of professional backgrounds and business sectors, and are focused on leveraging their wisdom and experience to offer advice to young companies, and in select cases the Den serves as an incubator for promising ventures who are in need of support to turn their plans into reality.

Eric Rice is a successful entrepreneur and has built a number of businesses in sectors ranging from financial services to gaming. He is currently the CEO of LWI, a non-traditional marketing firm specializing in social media and online branding.

Eric Rice

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Martin Waters

Eric Donsky

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Owner, Principal Consultant

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Business Litigator
Gaston & Gaston, APLC

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