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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
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