Secrets of Successful Infopreneursan interview with Shirley Frazierby Jennifer Tribe Shirley Frazier, a New Jersey businesswoman who founded GiftBasketBusiness.com in 1990, started infopreneuring with a single manual in 1995. Since then, she has expanded her product suite to include more than a dozen top sellers, from books to videos. ---- Shirley, tell us the story of your very first product. What was it, where did you get the idea, how did you develop it, how did you market it? My first product was a self-published manual titled “Gift Baskets and Beyond.” It was a guidebook that shared little-known secrets about starting and marketing a gift basket business. It also included forms to help business owners control their inventory and financial accountability. In 1995, such forms were non-existent in the gift basket industry. At the same time, I began speaking at gift basket conventions, and attendees asked me to develop printed information. That’s how the idea evolved. I used my word processor to write and complete each chapter, fastened the manual together with a spiral comb, and marketed it through gift industry publications and at gift basket conferences. ---- If you could do things over again, would you still start with that product? Why or why not? Absolutely. Although my writing style was unpolished, the project convinced me to pursue journalism classes at New York University to develop my writing style. I also made another smart move – applying for an ISBN number. This allowed my manual to not only sell through gift channels but also be ordered by major bookstores nationwide on a non-returnable basis. ---- How much do your information products generate in revenue for you? Or, how many units do you sell? My company sells between 300-400 units per month. My products have expanded to include books, videotapes, audiotapes, booklets, and industry directories. ----- Which product formats do you like the best (e-books, teleclasses, videos, etc) and why? There’s no preference because I’m happy to create content in whatever form my audience wants. I don’t consider any of the formats more difficult to create than another. Videos may take longer because of production and packaging, but certain audiences crave the visual medium rather than text, and they are willing to pay for it. ----- How has selling information products changed your business and your life? It has increased my business more than I could have imagined. The products allow my ideas and knowledge to reach thousands of people worldwide, and I am honored when I receive feedback, which helps me to make decisions about new opportunities. ----- Did you (or do you) have an information product mentor? Who are they and how have they helped you? Everyone on the Internet selling products and services is my mentor. Web participants show you how to position your products, forge partnerships, and sell through your own store or by other means. I don’t copy anyone’s methods outright, but I do take their ideas and turn it into winning opportunities for my business. ----- What advice would you give to people just starting out, or thinking about getting started, with information products? Schedule a meeting with yourself (if self-employed) or with staff members to brainstorm all of the products that will benefit your customers. Separate the items that you can do fairly quickly (such as booklets and tip sheets) from others that take more steps to develop (audio and video products). Create a timetable, and launch the product. Try not to do everything on your list, just the projects you believe are winners. ----- What advice would you give to people who are established with information products and want to go to the next level? Before developing additional products, review your financial records to see which items have sold best over time. Consider an advanced technique or ‘part two’ product that piggybacks off the first. You should also survey your customers to learn what type of information they would like you to develop. ----- What’s the biggest mistake you have made in your information product career? I used a lot of money to create my first audiotape. It wasn’t a bad mistake but it definitely was a project that didn’t require the use of the same audio facility where the Harry Potter audiotapes were produced. ----- What’s your philosophy, in business or in life? Just do it. ----- Who do you admire and why? My dad, an aunt, and great-grandmother. All of them owned businesses and took risks that molded me into the person I’ve become. ----- What is your biggest pet peeve when it comes to information products? Products that don’t live up to the publisher’s hype. Individuals make buying decisions according to what they read, and they should receive what’s expected and maybe a dash more to whet their appetites for the next installment. ----- What’s your favorite business book and why? Live Your Dreams by Les Brown. I have the book and audiotape. It empowers you to move forward and accomplish your goals, no matter what obstacles are ahead. ----- What’s your favorite web site and why? I’m guilty of favoring my own web site. It continuously educates and encourages aspiring entrepreneurs and industry veterans to create profitable businesses in any economy. ---- Shirley’s sites: http://www.GiftBasketBusiness.com http://www.ShirleyFrazier.com © 2004-2007 Jennifer Tribe Jennifer Tribe is a principal at Highspot Inc. Want to self-publish a book, produce an audio program, launch a seminar? Highspot can help transform your great ideas into lasting knowledge products. 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