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. |
