Made Up Music Owns 25 Percent Of The Music Market It’s Easier Becoming an Infopreneur

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It’s Easier Becoming an Infopreneur

Entrepreneurs thrive in times of rapid change, and we’re living in one right now. The good news is that the faster the change, the greater the opportunities for entrepreneurs.

The explosion of new technologies has created an unprecedented time in economic history in terms of entrepreneurial opportunities: cheap computers, new software, and digital networks, such as the Internet, are powerful tools available to anyone who wants to achieve financial independence and improve their lifestyle. is.

Money game

I’ve been a business student ever since I started my career as a venture capitalist on Wall Street. Over the years, I decided to become an entrepreneur myself and raised millions of dollars to fund many entrepreneurs and startups until I funded my own companies in the broadcasting, alternative energy, software, and telecommunications industries. In 1990, I was the CEO of a company that built the first digital network in Moscow and launched one of the first B2B Internet service providers.

From this perspective, I see great business opportunities opening up. Nowhere is this more evident than in the world of communications and information.

Since information and communication are fundamental components of human interaction and business transactions, new means of communication such as the electric wire, telephone, radio, and television have had a successively greater impact on the world, creating great fortunes for those who ride each wave. . of change. The Internet will be the most important wave.

Internet

The Internet has made it possible to connect with almost anyone anywhere in the world in seconds and for a few cents. But the fact that computers can convert all traditional analog forms of information (songs, sounds, printed words, images, data) into a common digital medium for transmission over the Internet makes it even more important. This capability is revolutionizing existing businesses and creating vast opportunities for entrepreneurship.

The Internet is affecting businesses in every industry, but it will have the greatest impact on products and services in the information industry. Imagine some of the biggest businesses in the world. Think entertainment (music, movies), broadcasting (news, information, entertainment), publishing (books, magazines), and the biggest one is training and education (books, courses, continuing education).

To see the potential impact of the Internet, let’s look at one small, well-established medium: books.

Analog economy

Physical books require woodworking to convey stories and information through a printing press. Then it takes many hands and a lot of energy to move the book from the factory to the retail store and finally to the consumer. This process is resource, labor and capital intensive.

To see how this works financially, consider your book author.

In the analog world, he writes his books and receives 10 percent of each sale, or $2.50 from the sale of a $25 book. The remaining $22.50 is retained by the publisher for production, distribution and marketing costs. Further, let’s assume that his publisher has sold 25,000 copies in one year, which is enough for the offline publishing world. Our writer will then receive $62,500 (2.50 x 25,000 percent) for his creative efforts.

Digital economy

The same book can be produced and packaged in a digital form known as an “e-book” and delivered anywhere in the world in seconds at 1/100th the cost and with no environmental impact.

Let’s say our author wrote that very book, but decided to become an entrepreneur in the digital world by starting his own small web business and selling his e-book online, over the Internet, to the global market. For this example, let’s say he sells the same number of books at the same price.

If you look at the cost of doing this, it will cost you $2,500 per year to build the website, $4,000 per month for a part-time webmaster, and $150 to host the website (which sells and collects money 24 hours a day). seven days a week), and an additional $10,000 a month to buy pay-per-click ads from Google to get traffic to his site.

At the end of one year, his expenses ($2,500 for construction, $48,000 for the webmaster, $1,800 for hosting, and $120,000 for advertising) will total $172,300. On the income side, his earnings ($25 per share x 25,000 shares) total $625,000. Subtracting his expenses from his income leaves $452,700. Inexpensive digital tools and access to the Internet give him the incentive to do less work…but make more money. He will never be able to achieve this in the offline world.

This simple example shows the incredible leverage of becoming an entrepreneur and selling information products in the new digital world. In the physical world, our writer earns 10 percent of his income ($62,500), while in the digital world he earns about 70 percent, or $452,700, or seven times as much.

New capital

This new digital world shifts advantage from those with or access to financial capital to those with intellectual capital. It’s exciting.

In the analog world of physical publishing, creating a system for producing, storing, shipping, distributing, and retailing books requires a lot of financial capital. Must build factories and offices to store equipment, manpower, and inventory. A truck must be purchased to deliver the book to the stores that must be opened to sell it. As a result, entrepreneurs had to start almost any business by first raising a large amount of financial capital known as venture capital.

Again, the Internet changes all that.

In the digital world, business infrastructure is built on computers and networks, and increasingly intelligent software replaces most of the manual and clerical functions essential to any business. Building a digital business requires intellectual capital but relatively little financial capital. In this way, power shifts from those with money to those with the ideas and intellect to recognize, use, and leverage new information technologies.

An economic tsunami

We’ve already seen 30-year-olds start with little or nothing on the Internet and become multi-millionaires (and some billionaires) as big companies run to court to try to quell the tsunami of these new technologies and fast-moving economies. – smart entrepreneurs.

We’ve seen first hand how the digital world is affecting the music industry; Now it’s affecting Hollywood’s monopoly on film and video distribution, and soon we’ll see it affect publishing and education. Faster, lower-cost digital systems are replacing traditional, slower physical production and distribution systems.

Countless jobs and careers are being lost as old physical systems collapse under the new technology economy. We see long-term employment disappearing; on track to retire; wages are not what they used to be. And this comes at a time when the cost of living continues to rise. As a result, we all need to start thinking more about being entrepreneurs – understanding and taking advantage of these new digital technologies by creating new information products and services that leverage our skills and expertise.

Traditionally, entrepreneurs not only needed the ability to imagine new things, but also needed to raise capital and create complex organizations to support their new products and services, and then needed the skills to lead, coordinate, and manage them.

Infopreneurs

What makes Internet and publishing businesses so exciting is that they don’t require traditional fundraising, organizational development, or management skills to start or build. This opens new financial doors to a larger group of potential entrepreneurs.

Entrepreneurs who use new areas of digital information publishing are called infopreneurs. They think differently.

Infopreneurs are new business owners who envision ways to use new information technologies and systems to meet market needs and wants. They can see and create new economic models. They don’t need to raise funds; instead, they create it. They don’t run large organizations; they manage a small team. They don’t work in corporate office complexes, they work in bedrooms across America. They don’t have on-site employees, they have contractors spread across cyberspace. And they make a lot of money. This is a new breed.

The businesses they build are also different.

Virtual businesses

Infopreneurs are creating entirely new opportunities called virtual businesses. Virtual businesses exist almost entirely on computers and networks. Most business functions that are handled by teams of people in the offline world are now embedded in software applications. A virtual business is an automated collection of hardware and software connected to its customers through a digital network. They operate 24/7, selling and delivering information products to global markets with minimal involvement.

Virtual businesses receive customers over the Internet and respond with automated product introductions and virtual salespeople. Automated e-commerce engines process transactions and ship and deliver products electronically. Software systems provide monitoring, control and management.

Virtual businesses today started on a shoestring. However, they serve the same number of customers and earn the same amount of profit as venture firms with multi-million dollar investments and large investments in plant and equipment. There are virtual businesses that operate from bedrooms that are more than companies with hundreds of employees. This is truly the pinnacle of entrepreneurs.

Benefits of becoming an infopreneur

If you have always thought about becoming an entrepreneur, or if you are shaking and shaking in your current economic world, if you no longer see a bright future in a large organization, if you are worried about your financial situation, if you want something different or more profitable, infopreneur think about it.

Becoming an infopreneur has many benefits.

· You will be your own boss. Working for yourself brings the freedom to work on what you want, when you want.

· You can work anywhere. All your activities are networked, so you can be anywhere in the world… on a beach in Hawaii, in a chalet in the Alps, or in a Starbucks in Manhattan.

· You don’t need a lot of capital. A data business can be run as a transaction and dispose of capital instead of spending it. The only important asset you need is the intellectual capital you build by learning how to use these new technologies.

· You can start at your leisure and at your own pace. You can start slowly, continue your nine-to-five gig, learn the ropes to take the big leap to independence, and build your confidence and income.

· No need for workers. All the specialized talent, skills and help you need can be hired through the network. No strain or burn to keep you up at night. You don’t even need real management skills.

· You can earn a lot of money. I personally know infopreneurs who make millions every year and employ only a few outside contractors. One has nine employees and is making more than $8 million in profit after covering expenses. This is the leverage of virtual companies.

Internet publishing is the most accessible business opportunity you will ever see in your lifetime. It is the easiest, fastest and least risky way to achieve financial independence and build wealth. Best of all, you can do it on your own terms, no venture capitalists or shareholders telling you what to do.

Maybe you should consider becoming an infopreneur.

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