7 Reasons Why Selling Information Might Be the Best Business in the World
Reason #1: You have no competition. Everything you sell is copyright protected so you can’t be “knocked off”.
Reason #2: Incredibly huge profit margins. People aren’t paying for bits and bytes, a bunch of CDs or paper & ink they are paying you for the value of the information. In fact, with a digitally delivered or ‘downloadable’ product your profit margin is nearly 100%. (Compare that to any giant online retailer who can only compete on price and eeks out a slim single digit profit margin.) Or with a physical information product you can easily 10-to-1 margins or more.
Reason #3: You can work from anywhere you wish. It doesn’t matter if you’re playing beach volleyball in Aruba or skiing in the
Reason #4: You can set up your business so it works on complete autopilot That’s how my web sites work right now with about 90% of the ‘hard work’ handled automatically. (Of course, a real person still needs to jump in every once in awhile but once you get your system down it really is only a few hours a week to keep it all going.)
Reason #5: No need for employees. I have absolutely zero employees (it’s just Missy and I running the whole show) and I couldn’t be happier not to deal with all those headaches and hassles. We do have 2 virtual assistants and one ‘tech’ guy on retainer but no real employees.
Reason #6: Incredibly low start up costs. You don’t need a factory or even a store front because you can run your business in any spare space a computer fits. I actually started from the corner of our living room in our 1-bedroom apartment with $800. Today you can get going for way less! Your biggest costs will probably be finding a good web designer. (Don’t worry — I’m a total “techno dunce” and I’ll give you some of my go-to-guys to help you!)
Reason #7: You get paid over and over again for work you do one time. Once you create your information product you can keep selling it over and over again. The work is done one time and you repeatedly profit from it. That’s incredible leverage so your income isn’t tied to the number of hours you work.
