Information Publisher's 5-Year Wealth Strategy
Strategy can sometimes be seen as a bad word to fast-moving,
agile entrepreneurs, but is often what separates the top 5% of
businesses in any given market.
Same goes for your information publishing business.
It is quite possible for anyone with some information to be
shared toward a market with some decent timing to generate some
promising success with a first course, workshop, ebook or audio
program.
As we cover in the Ultimate Information Entrepreneur's Success
Package (http://www.infoproductcreator.com), once you understand
the steps to discovering hot markets, uncovering hidden
opportunities and practicing rapid product development
techniques, releasing your first successful product is NOT the
real obstacle - following it up with a well thought out program
taking advantage of your early success is the real challenge.
While many information publishers struggle to get their $17 or
$27 ebook released, having dreams of quitting their job and
placing all of their bets on this one single product - the
giants in the industry that quietly bring in 5 and 6-figure
monthly incomes focus 1-2 products ahead.
In other words, for the information product marketer thinking
strategically, their $27 ebook may simply be a stepping stone
toward achieving much higher sales through other back-end
products, partnerships, services or other business models.
Which leads us to the silver bullet for earning the BIG payday
for information product developers.
"SILVER BULLET" TO MASSIVE SUCCESS
Momentum and timing are critical factors to any businesses
success. There is nothing more powerful in your business than
the single point in time when you have the highest attention of
your market.
In the weeks and months following your successful product
launch, you have a golden opportunity to begin
immediately introducing your market to your next steps, branding
your business 1-year out rather than just marketing your single
product.
Unfortunately, 99% of information product publishers are focused
entirely on their first (or next) product. They have given very
little thought to what's next.
Here are 5 factors to help you strategically grow your
information publising business:
- think multiple products/services - create project plan for
product deliveries - define low price products to generate leads
- define mid-price product as stepping stone - create high-end,
back-end products
Looking at this list, by far the most challenging task for
information publishers is creating high-end products.
It is true, there is more work to putting together a $1,000
product than a $27 ebook, however it is not to the degree that
most believe.
Trick is to work smart.
Turning the content of an ebook into several teleconferences
that are recorded, an interactive coaching session, a 1-day
seminar, a series of interviews are all ways that you can turn
out a high value back-end product in a matter of weeks.
Stop thinking about strategy as a bad word, something that slows
you down.
Instead, well thought out strategy is really the sliver bullet
that separates information product publishers on a 5-year wealth
plan from those that are putting all of their hopes in one
low-price product.
I'll definitely be touching more on this in coming weeks, stay
tuned to the Information Product Developer's Blog over at:
http://www.highertrustmarketing.com/blog/ for new updates.