What is an Information Product?
Jennifer Tribe writing at her blog The Sideroad has written a post asking What is an Information Product?
Information products create passive streams of revenue, that is, money that flows to you whether you’re working at your desk, lazing on the beach, or snoozing on the couch. How? You create the products once and then sell them over and over again. You make an initial investment of time and money and then reap the benefits in multiples. You can’t do that with time; you can’t sell the same hour twice.
Quite true. And that’s the lure bringing many people into the information products publishing industry - the fact your business doesn’t have to rely on you 24/7.
She continues …
What Exactly is an Information Product?
Quite simply, an information product is any chunk of knowledge that has been recorded in some fashion - whether that be in a print format, an audio format, or a video format - so that it can now be passed on to others. There are dozens of ways to package and sell information.
When most people think of information products they automatically think of eBooks. Yes, eBooks are one way of packaging information. Then there’s audio, video, subscription sites and so much more.
The idea behind setting up a successful, long-term information publishing business is getting all the bits and pieces working together right from the beginning - a “roll up your sleeves” kind of attitude to get it right from the start goes a long way to ultimate success.
And in fact, a large part of an information publishing business can, and should, be systemized just like any other business.