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Harness the Power of Internet in Value Enhancement

Harness the Power of Internet in Value Enhancement

The key to success in business, profession or a career today is the ability to harness information and use it effectively to convert into wealth.  Information is available at the touch of a key.  All we need to know is how to find it, what the differentiators are in using this information and how to use it effectively.

Internet is the technological tool which drives the assembling and dissemination of information.

Let us first understand what makes this information valuable.

The ability to apply this information to specific work or activity is knowledge.  Knowledge does not come from books, degrees or attending endless training and seminars.  It does not come from an access to huge information resources available on the internet.   When the information is applied to derive value and create wealth it is knowledge. 

Knowledge is the most valuable asset a business owns.  Who had heard of KM a decade back?  And how many even today are aware of the term KM.  The key differentiator today is knowledge.  That is why we see companies using the same technology and in the same marketplace, using similar resources, one company is able to outperform others and becomes a market leader while another company on par in every aspect except in the ability to manage information and knowledge fails miserably.

So the key differentiator is conversion of information into knowledge.

This is achieved by using the information to add value to consumer, to the stakeholder, to the market place.  This applies to companies as well as individuals.  Companies have to add value to the marketplace while individuals have to add value to their job, work or profession.  More the value more will be the ability to create wealth.

We have now understood what information is and what knowledge is.

Let us see how internet as a technology can help everyone achieve bigger success and create wealth.   

Information converted to knowledge is bought and sold in various ways.  From an ordinary ‘How to....’ for an average consumer to an extensive knowledge management system for corporate.

Let’s take two examples applied to individuals and a business entity to understand the concept better.

Me as a normal person requires information on so many things to make life easy.  For instance I need to go on a holiday every year.  I need information about the different destinations in India.  I need information of international destinations.  But that is a huge amount of information and available to me through internet and other sources.

I don’t have the time, patience or ability to pour through all the information and put it together in a usable form -  to decide on a holiday destination with attendant hotel reservations, sight seeing bookings and hundred other nitty gritties to make my holiday pleasant, enjoyable and relaxing.

And Hey Presto.  Here is saleable product!  A Book on Holidaying.  But that is again a very broad area. So we come to another factor.

We need a product and segmentation strategy here.     Taking my own example, what does the average middle class spend on a holiday every year?  We have research data available what it is for a couple.  So we compile information on 100 holiday destinations within this budget.  It would give every information from hotel accommodation to sight seeing details, rates of taxis, transportation, different levels of accommodation, where you can dine and whatever else you think would add value to your prospect.  Your book could be called:

‘Budget Holidays in 100 Destinations’

How often you yourself might have looked for such a book. 

Now the traditional method is to write a book find a publisher and run after them to print it.  An information entrepreneur harnesses the various internet technologies available, produces the book himself, again uses the latest marketing techniques to market it through the internet.  You can give a free preview and price it so low that no body minds buying it, again online through a payment gateway all from his home.  The delivery is also instantaneous on confirmation the buyer gets to download the book from the website.  No overheads, no inventories, no staff, no hassles of delivery.  And once the product is written that is about the investment in time and a little effort of researching.  You keep selling it again and again for eternity with a little updating of information every now and then.  Permanent passive income while you may be lazing about on your own extended holidays.

Now here’s an example of how companies can convert information into knowledge.

Every business is creating their websites.  The statistics are that a million pages are added every day in the internet space.

That is about it.  It looks nice to put it on your visiting card and tell people that you too are part of the hep techno savvy crowd.

It is like putting a banner on the Sahara dessert.  The space even in Sahara is measurable.  Putting your website or should I say banner (a 4 page static website is nothing more than that) in web space where no one can find you even by accident unless you drive traffic to it.

That is possible only when you have something valuable there and people are made aware you have something of value for them not only once but every time they come there.  The moment value is added, it is like magic.  See how traffic builds up through a viral method. 

Value can be added in various ways.  A customer friendly online store, price comparisons, product demos, usage manuals, free related courses, online ordering system, ezines, free downloads..I can give an endless list of things that can make a website valuable.

Not only that a good online strategy with a well planned website can save you and earn you in millions in whatever business you are in.

That is how today an obscure search site like Google has become a giant with whom even the giants in the online business are not able to compete in that segment.

If you are interested in learning more you can download plenty of free stuff on the subject at http://venturelinks.tripod.com  

To sum up the principles in leveraging internet are very simple.

Step One:  Product

  • Create a product from all the information you have or you specialize in
  • Leverage your current product portfolio to create online product extensions
  • Acquire products for online promotion

Step Two:  Marketing

  • Leverage Technology
  • Learn everything that can make it available to people where they want it.
  • Use online promotions effectively and innovatively
  • Build strong relations with your customer
  • Exceed customer expectation

The opportunity for any average business or person to hit the big time converting information into knowledge products is awesome and the amazing thing about it is you don’t need big investments.  You can work local or global.  The investment and technology required is the same.  And the risk factor.  Negligible.  If you fail, re-strategize your course based on the feedback and get on the road to profits.

 

 

About the Author

R.G. Srinivasan is the Director of Born To Win Forum an organization dedicated to success training. He has an experience spanning two decades in sales & marketing and general management functions in India.  Please check out his profile and programs at http://borntowinforum.tripod.com.   He is now a professional trainer focused on personal effectiveness and motivational training.  He has recently launched his new seminars on information enterprise and internet marketing.   You can contact him for internet marketing strategies and training at b2wforum@yahoo.co.in