EP 228: How Do You Value Information?
Talking about the economics of knowledge might sound like a geeky topic for a podcast episode, but if you’re building a knowledge business, this is an important concept to understand.
Over the next few episodes, we’re going to continue our discussion of what it takes to build a knowledge-based business. If you haven’t listened to episode 226, be sure to take a listen so you can understand the big picture of what we’re covering in this (unofficial) series.
What You'll Learn in Today's Episode
- How to assess your business in light of traditional product businesses when it comes to valuing what you sell
- Why information loses its worth as it is more widely available
- What things can devalue your knowledge products
- Why the barriers to entry in the information product space are low and why this leads to competition
- Why you need to think of ways to create barriers to entry in your own business
- How to position the value of your skills if you’re a service-based business