When you have spent years practising your profession and honing your skills, it’s easy to just take them for granted. After all, this is what you do day in and day out, so it must be simple, right?
Actually, no! You have dedicated a lot of time to mastering your craft to become an expert at what you do.
As an expert in your field, it’s important to know that a lot of your activities — the things you say, what you write, what you think up and create — can all be monetised.
Your expertise is a skill mastered by years of experience, immersion, and practice, and regardless of what field you’re in, your expertise has value. Your ideas, systems, and processes can be of great value to other people in your industry.
For example, as a business owner and a marketing coach, I have been able to take the strategies that I use to grow my own business and turn them into valuable products for other people to grow their own successful businesses.
This is something you can do as well. Packaging your knowledge into viable products and services in different ways and form that an audience will find immense value.
You just have to make it available to them. From ebooks to courses, there are many different ways that you can monetise your expertise. However, one of the first stumbling blocks I see course creators and educators come across is not knowing what they know, what to teach, and where to start.
So as part of our Course Creation Resources, I have developed the Monetise Your Knowledge Worksheet as a simple exercise and how-to guide with targeted questions to help you discover and be confident about your expertise and the ways you can monetise it.
Questions to ask yourself when you want to monetise your knowledge:
- What is your competitive advantage? What separates you from other experts in your field? Think of what makes people want to work with you, like your approach or experience. There is no badge for shyness.
- What do people ask you for? These questions are the foundation for your ebook, course, workshop, or class. Tap into those questions and use your knowledge.
- What comes second nature to you? You’ve spent years learning your skills. And if you’ve learned it, you can teach it to someone else.
- Who needs your expertise? Are these people beginners just starting out in the industry? Or are they looking for someone to help them get to the next level?
- What challenges and pain points can you address? And what are the tools that you know can help them?
These questions are the starting point of your monetisation. Every question, challenge, pain point, frustration can be converted into an ebook, tutorial, class, or consultation service.
Once you’ve identified which ones to focus on, you can start putting together the topics and solutions into different delivery formats, be it an ebook that they can read through, a workshop they can join, or a one-on-one consultation with you.
So as a conclusion, I want to share with you some tools that will help you in Monetising Your Knowledge. I love these tools myself and I use them in my own businesses as well.
- Thinkific is where I teach and a place for my educational library. All my ebooks, courses, and workshops are there. You can create, market and sell your expertise with a single platform that gives you total control of your brand and business.
- Designrr is a tool I use to turn my blogs, articles, and other evergreen content into an ebook that can be published on Amazon directly.
- Canva is my favourite design tool. You can create logos, social media content, documents, prints, and basically other designs that can be made on Canva easily.
- MeetEdgar is a platform that allows you to schedule promotional content for your products and services as well as share other valuable information for your audience.
There you have it, an easy and simple exercise you can do to help you monetise your knowledge. I hope you got some valuable information and tips from this video.
Now go ahead, it’s time for you to do the work. If you haven’t already, download the Monetise Your Knowledge Worksheet, and go through the exercises and questions on the video.
If I can leave with some simple advice, it’s that all you really need is to observe and listen. This in essence is the nature of how you can monetise your knowledge. By using your expertise to help and empower others on their journey, you can also create a thriving business for yourself.