How Extremely Savvy Entrepreneurs Make Money In The Information Business Without A Product!

Please follow and like us:

How Extremely Savvy Entrepreneurs Make Money In The Information Business Without A Product!

Have you ever watched any of the world’s top illusionist, seemingly pull the proverbial rabbit out of a hat?

You know, icons such as David Copperfield and or Chris Angel.

They seem to defy all logic and your eyes simply can’t believe what they’re witnessing, correct?

And so it would appear, when some of the most savvy entrepreneurs among us, they can literally make money, (sometimes) lots of it.

Even though when they initially started out, they actually had no (physical) and or digital information products whatsoever!

I’ll give you a major hint right up front, so as to clear up the mystery. Before we actually get into the main meat & potatoes of the matter.

They initially relied heavily ,on offering various services like, extremely lucrative, (high end), one on one hourly, and or pricey group consulting packages.(Many still do!  😀 )

And that’s the main reason, they didn’t initially need any physical products, like books and or home study courses etc.

But still in all, let’s take a closer look at how some of them routinely scaled their services, until they could begin creating some reliable, passive income, by creating, (both) physical and or digital information products or services in various forms.

So How Did Some Extremely Savvy Entrepreneurs Initially Make Big Money In The Information Business!

(Even Though They Initially Didn’t Have Any Physical Information Products To Sell!)

As previously mentioned in the above paragraph, these extremely savvy entrepreneurs, didn’t let the fact, that early on, even though they initially didn’t have any traditional information products.

That minor inconvenience, didn’t prevent them from cashing in big time, in the information business!

Case in point, (what) a ton of them, so often did, like Internet marketing expert, Connie Ragen Green, just to use a real world example.As they steadily built their stock pile of real world (experiences), both on and offline.

Long Term Small Business Success Is Definitely A Gradual Thing!

And as they started to become more knowledgeable in various related, highly in demand niche subjects.

And they initially started speaking (for free), on the (local) offline circuit, in order to build, (both) credibility and some much needed local name recognition.

So they routinely accepted small speaking engagements initially, from the likes of the Rotary club, various entrepreneurial clubs and various small business groups, like the Board of Realtors or the Chamber of Commerce etc.

And as their talks got better and their demand started to grow, soon (either) they or the group that invited them, began (to both) audio and or video record their 60- 90 minute talks/workshops. And sell them later on, after they had been professionally edited of course! 😎

Really Effective Small Business Marketing can Lead To Some Extremely Profitable Paydays!(Don’t You Agree?)

So here’s where one of their very first (semi major) aha moments, initially occurred. Since they were starting to gain some traction and notoriety on the local talk circuit.

(And just for hypothetical) illustration purposes only. Let’s say their current (one on one) consultant rates were $200 dollars per hour with (the customary) two hour minimum.

Any time they were speaking, and they had a paying crowd of 40 participants or more. They would routinely “raffle” one of their two hour minimum, (one on one) consulting packages, which retailed for $400 dollars, (or x.)

And they would have a one time entry fee of just $75 (or X amount of) dollars each.And at that super discounted price, they would normally at least have 25 takers.

Are You Starting To Appreciate Some Of The Hidden Profit Centers In Your Small Business And Or Service!

So twenty five people would leap at the chance to pay a one time “raffle” fee of $75 dollars, (or X), for a chance to win two hours of one on one coaching,that they knew, normally retailed for $400 dollars, (or X.)

So the extremely marketing savvy speaker just grossed $1,875 dollars, in the (so called) information business!

Even though they didn’t currently have any physical or digital information products yet!(25 people times a one time raffle entry fee of just $75 dollars = $1,875 dollars in gross front end profits only.) Not too bad for a 60-90 minute talk, correct?  😀

Savvy Entrepreneurs Consistently Find Unconventional Ways To Make Big Money In Conventional Ways!

Seems like a fancy play on words, but it’s not. Case in point; another extremely lucrative unconventional marketing tactic, that tons of these extremely savvy entrepreneurs, consistently use to cash in big time, in the information business.

As they started to move up the “Public Speaking” food chain, and they start (routinely) getting invited, to some of the major annual events, both in and outside of their particular niche.

Let’s say they were one of the 5-15 featured expert guest speakers, at one of the extremely popular three day events.They might hold , (both) a pre event, 90 minute, No holds barred, “break out” Q & A session.

So How Many Potential Ways Can Your Small Business Potentially Profitable From The How To Information Business Model!

And charge each attendee $75 dollars, but any two could attend for just $100 dollars. And of course these sessions were, (both) audio and video recorded.

And the audio sessions automatically included physical transcripts, that got mailed to the participants later on.And typically they would split the revenue 50/50, with the group that sponsored the events!

And they would also routinely sell, $5,000 to $10,000 dollar a year, (high end) mentoring programs, done over the phone, X number of minutes per week, for one year.

There Are More Than Enough Extremely Valid Entrepreneurial Ideas For You And I To Profit From!(Don’t You Agree?)

And of course,they got to keep 100% of the revenue generated from any of those programs sold!And if by chance, there were any mid sized corporate presidents in attendance at these rather pricey events.

Every once and a while, they also sold, some extremely lucrative monthly consulting services to them, that routinely netted, $5,000 to $25,000 dollars per month!(Granted, they didn’t land those higher end major corporate clients too often!)

Especially in the early stages of their budding speaking career.

But it did happen often enough, that these extremely savvy entrepreneurs, were actually able to create, yet another, extremely lucrative income stream!

So Would Modeling Certain Parts Of The How To Problem Solving Information Business Model Help Your Semi Resourced Challenged Small Business Grow!

Any ideas, on what it was? 😎 Well, in that case, I guess we’ll just have to reveal it in part two!Don’t you agree? Now as is customary during this part of our show.

Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!

As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!

And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by as much as 25% in the next 90 days or less.

And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)It’s a $97 dollar value and it’s free!