Working as an Infopreneur: A U.K. Perspective
By Penny Crossland
As I sit at my desk preparing to Skype a client with whom I was due to meet today in central London, but who cancelled due to the bizarre Covid-19 reality we are currently facing, I realize how fortunate independent workers are to be able to carry on their business regardless of what is going on outside. We have well-established home offices, with all the technology we require to make us professional and efficient, and years of practice have made us disciplined in how we manage our working hours.
After working in business research for consultancies for 17 years, I began my solo business in 2001 when my son started school, which gave me most of the day to work while avoiding the headache of finding quality childcare and paying the prohibitive costs involved.
19 years later, having combined my research practice with a number of part-time positions at companies and a university over the years, I am now back to working full-time from my home office, since I need the flexibility of self-employment to care for my elderly mother. So, what started as a lifestyle choice has ended up as one as well.
I started my infopreneur career as a market and industry intelligence researcher, working for management and market research consultancies, before switching my service offering to open source intelligence (OSINT) and due diligence research. This was in response to an increased interest in due diligence-related work from companies after the 2008 economic crash, which led to more stringent regulatory requirements for compliance. Since then, I have rarely had a lull in work. Know-Your-Customer, due diligence and pre-employment background research are important areas of work required by companies involved in client onboarding or M&A work, and in London there are plenty of customers for this kind of work. This is fortunate, since the market for OSINT researchers in London is very competitive – there are numerous self-employed researchers with experience in corporate intelligence.
As many AIIP members have commented on our email discussion list, the world of a solo researcher can be lonely and there have been times when I have missed the company of colleagues and of learning from working in a team. Over the years, to combat the feeling of isolation I have taken on part-time research positions in organisations, which have provided me with insights into current working practices and technologies, as well as into new sources, which have been valuable to my own research business. In addition, some of the positions I have had, such as in the advancement department of one of the London universities, have led to new lines of work. I now provide due diligence reports for a major museum as a result of my experience in advancement.
Continuing professional development is important for infopreneurs. Attending workshops, conferences, and webinars, such as those provided by AIIP are essential in our line of work, wherever you are based.
However, the one thing that has made the biggest difference in the success of my business has been networking. In addition to AIIP, I am a member of the Association of Certified Anti-Money Laundering Specialists (ACAMS) and am involved in the London Information Knowledge Exchange (LIKE) which organises CPD and social events in central London.
Above all, getting out of the office and connecting and learning from workers in similar industries is essential for every infopreneur, no matter where you’re from. It is the best way to meet new clients and grow your business.
Penny Crossland is the owner of CH Business Research Ltd, a London-based investigative research consultancy specialising in due diligence, know your customer research and open source intelligence. Her customers include corporate intelligence consultancies, investment brokers and non-profit organisations.
