Where “entrepreneur” is an old word and people are quite familiar with it, “infopreneur” is a fairly new terminology for many. Infopreneur is a combination of two words from “entrepreneur” and “information”. Since technological advancement has occurred, it has created opportunities for infopreneurs who sell digital products or informational articles on the web. In fact, an infopreneur can fairly be said to be an entrepreneur who exploits the digital world by selling products like e-books, writing a book, creating websites, updating blogs, offering webinars, e-courses, and online classes.
Any entrepreneur can become an infopreneur since it depends on the skills of each one. Many infopreneurs make use of their skills while outsourcing those tasks they are not good at.
There are certain differences between entrepreneurs and infopreneurs when it comes to running the business. Online opportunities obviously differ from those of entrepreneurs who take the risk of owning the business through managerial competition. Infopreneurs take full advantage of market practices and are seen as adapting to a large number of customers compared to entrepreneurs. The reason lies in having access to numerous online platforms where infopreneurs meet more customers than is the case with brick-and-mortar businesses run by entrepreneurs.
However, both entrepreneurs and infopreneurs require similar core qualities of risk-taking, determination, and confidence. Even the objectives are similar to those of any other business, that is, to generate more income and continually incorporate new ideas.
A gradual movement from entrepreneurship to infopreneurship is observed due to the fact that less capital is required in this domain. Intellectual capital is considered necessary for innovation and creativity to take full advantage of technological advances. No time and energy is wasted hiring employees unless the work is outsourced and one has no established contacts. The risk is slightly higher for an infopreneur as it is difficult to take ideas and turn it into a successful business initially. Taking into account other risks, such as financial, legal and social risks, is the minimum for an infopreneur. Also, infopreneurs have more free time and flexibility compared to entrepreneurs.
An infopreneur usually does all the work himself, starting with publishing information in electronic format. With the help of a service provider that copies the information at minimum cost so that the infoentrepreneur can sell the final product to their clients. Infopreneurs are generally good at online marketing and that is the basic reason for their success. They know the fundamentals to generate traffic that would increase your online sales. They are also exceptional copywriters and this is the key skill they use to increase their profits.
In today’s era of technological expansion and progression, knowledge is of the utmost importance as infopreneurs are in the spotlight with the fastest speed to success both in sharing information and selling information on the Internet. Indeed, it is a new wave of running a business by matching the pace of technology and taking advantage of new opportunities.
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