The last set that passed out motivated this post. In case you don’t know, after service, companies are not waiting one side for you to come and join them. You have to even pray to get called for an interview in some instances. The thing is while waiting for that job to click, you can still get started with something.
While it might sound great and easy for you to work from home online, after some time you might realize that it’s a bit hard to grow the business when you’re already stuck trading time for money. Which means that the amount of income you earn is tied to the number of hours you can work at home.
The good thing that will keep you running without having to go cashless at some point will be to look into other ways in which you can make money online from being an expert in your field. And this can be done when you monetize your knowledge. It’s also called diversifying your income.
How To Make Money From Your Knowledge
Everyone has a strength they can capitalize on, but many believe they have to be the foremost in their field in order to be considered an expert. The thing is, people who are seeking knowledge or guidance in any field are not experts and would appreciate and value the little you know and willing to share. In this sense, we could all stand to understand our expertise and find ways to monetize it.
Now the question is, how can one monetize their expertise?
One of the biggest things that I encourage people to do, as a way of establishing themselves and getting themselves known is to get involved in CONTENT CREATION.
The thing is that other people will never know if your ideas are any good if they don’t know what your ideas are. You have to find a way of putting them out there. Whatever the means is, could be blogging, podcasting, videos, speeches etc. Whatever your thing is, you have to convey them somehow to an audience.
Now, if your follow-up question is what if I don’t know what to get involved in? Simply pick an area that you are at least reasonably interested in, and interview a bunch of people in the field that you’re interested in. You’ll definitely learn a lot and that will serve as an inspiration for you to kick off with.
However, it is important to reinvent yourself as it’s essential once you are in that industry to stand out, to get noticed and to differentiate yourself from the competition.
7 Profitable Ways To Monetize Your Knowledge Online
While there are so many ways to throw your knowledge online and get people tapping into it, you don’t want to waste your time sharing hard-earned information and getting almost nothing in return.
You definitely should be on the lookout for PROFITABLE ways you can share your knowledge online and make money in return for the value you offer. I’ll be sharing with you some simple yet profitable ways you can monetize your knowledge online:
1. Blogging: For starters, an obvious first choice is blogging. Why? Blogging is a fantastic way for one to make money from their knowledge and share their expertise with a much larger audience. Your blog can be a great asset for you to show off your knowledge to potential new clients. But, more than that, your blog can also be monetized and help you earn good money without having to stick to an hourly rate.
If you are asking just how exactly you can monetize your knowledge and make money from blogging, let me put you through.
a) Choose a niche you can comfortably share your knowledge on. Make research on what people are searching concerning what you share and write contents based on that to share with your audience.
b) Create a blog using a paid or free host and create a posting schedule for your posts. You can always make research whenever you run out of ideas so that you can have fresh content to share with your audience.
c) Target the right people, encourage them to subscribe and share your content. With time you could start running paid ads on your blog or selling eBooks or offering courses.
2. eBooks:If you’ve got a lot of things on your head you can share and be sure people will be interested in, I recommend starting out with an eBook selling your expertise.
An eBook is a great way to package your specific knowledge and expertise and sell it to your audience. Here’s how to begin:
a) First, you have to be sure your audience already know and value your expertise, this way they are likely to purchase an eBook that helps them out even further
For example, if you are a web developer, you could create an eBook on how to create a WordPress website with ease. Or, as a social media marketer, you could write an eBook about how to generate website traffic or leads through social media.
There are opportunities available to you to enable you to create an eBook around a topic you know so well, thus allowing you share your passions or your expertise with an audience ready to pay for your knowledge.
b) With topic in mind, start putting your knowledge into writing to start making sales. Make sure your words are clear and to the point. You don’t want to have your readers come back to ask for their money back! Use images when necessary to illustrate and drive home your point clearly. Make research if you have to as this will make your work more enjoyable and useful.
c) Get your audience excited for the day you will release it by running a countdown and attaching a discount for early birds. Or simply ask them to tell their friends about the release and get a few free pages. You can also drop snippets of your work to get them to have an insight as to how richly packed your work is and what they stand to gain.
d) Be creative before, during and after the release day to get more people interested in purchasing your eBook. There’s no point having a good book and no one is interested in buying it.
3. Online Courses:Some think online courses are getting overblown because so many people are doing them. In our world today everybody has these online courses, it’s become a thing. In the early days, if you were among the first to create an online course, you could probably do a really bad job and still make people buy it. Today, you need to add a twist to yours to stand out. You have to have high quality now because there is competition. Even with the competition, the world has not fully tapped into online courses. This is going to be the way that people will be educated in the future. There’s just such a vast potential. As long as you have great stuff and as long as you have an audience of people that trusts you then they’ going to want to buy your courses.
Creating an online course to monetize your knowledge will pay you greatly. In fact, you can create an eBook and then expand on the same topic in your online course. It is a great way to really go deep into a topic and help your audience learn new skills.
For example, you’re a graphic designer who specializes in an aspect of design, you could create an awesome online course on how to do eye-catching design from scratch. And even how to think up designs to fit into any setting.
You could be an advertiser and create a course teaching people how to set up their first campaign and monitor it to ensure it converts.
There are a lot of skills set to choose from and what you are most proficient in can be a good idea for you to sell.
For starters, here’s what you should have in mind:
a) Consider if there is a demand for other people wanting to acquire the same skill. If so, that would be a great topic for an online course.
b) Leverage on its popularity as this is a great way to make money from your knowledge. Once you create the course, you have a product that you can sell for years down the track. Additionally, you can make some serious money with the courses.
c) Use social media to get people to participate in the courses and give them something for their referrals. You can give discounts on some special days and get people to help spread the word for a discount.
4. Advertising: You can accept to place advertisements on your site, social media accounts or email lists when you finally have a good following. You already have your knowledge you share on these platforms, it will pay you more when you get a sponsored post related to what you offer and share with your audience. Here are a few ways to get advertising gig:
a) You can use the most popular and easiest advertising option for sites – Google Adsense. This is an advertising platform operated by Google where you allow Google to place ads on your blog and you earn a commission.
b) Another profitable way is to find private advertisers in your niche and negotiate a rate for them to advertise a banner on your site or make a sponsored post on your social media pages. This is a great way to make additional income while monetizing your knowledge online. To make it work, you need a site or a page with a lot of traffic or following. So focus on building your audience first before jumping into advertising.
5. Affiliate Marketing: There’s a misconception that you must have a website or blog to be an affiliate marketer. That’s not entirely true. With any social media platform, you can be a successful affiliate marketer and make good money.
This is a great way to go if you have good knowledge of the product you want to market. It doesn’t require you to have any products of your own as your knowledge is enough to get you to bring people to buy what you are marketing and earn your commission. The things involved in affiliate marketing include:
a) You promote other people’s products and services with your knowledge of what you know about it. When someone makes a purchase based on your recommendation, You will receive a commission for it. Here you don’t need much work or a directory to store and manage physical products. All you need is to understand what you are marketing and build a good description around it to get people to buy.
Once your audience sees you as an expert in your field of work, they will trust your opinion and will be more likely to buy based on your recommendation.
b) Do your affiliate marketing based on what you have knowledge about or something related to what you already share. For instance, as a web or graphic designer you might have an affiliate product that will help people in this area. You can do design tutorials showcasing the product and how it can be helpful to people and share with your audience. If someone reads your post or watches the video and clicks the link to your product recommendation and buys, then you make a commission on that sale.
6. Vlogging:This is just like blogging but will involve you doing more of videos than written contents. This one is becoming very popular as a lot of people now prefer to watch instead of reading stuff. If your knowledge or expertise is something you can monetize, use videos to share and sell them. Platforms like YouTube can help you monetize your videos. Here’s something to get you started:
a) Get your idea off the ground by starting with an introductory video to share. Start with educative or entertaining videos based on the kind of audience you are targeting. Run ads, encourage engagements and leave call-to-actions for viewers to share your videos to help you grow your fan base.
b) Do how-to and short informative videos that have tendencies to go viral fast. Ask your viewers what they want to see and work on creating such. If you are using a platform like YouTube, you can get to run ads on your videos at some point and that is a good way to monetize your knowledge. You can also choose to accept sponsored videos that your viewers will find useful too.
7. Coaching: This is becoming very profitable as people are ready and willing to pay to have others mentor them on a particular field they are interested in. Once you know something and have someone interested in learning such, you don’t even need to meet face to face to carry out the coaching. You deliver and share your knowledge and get paid in return for the value offered.
For instance, as a fitness coach that has someone willing to be coached in that aspect, you can have a plan for that person and follow up to ensure he or she meets their target which is usually a fitness goal. You could share videos, lessons or diet plans with such a person.
This can pay you long term when it’s a knowledge that requires more information or changes each day. If you want to try this, here’s what to have in mind:
a) Have a good knowledge of the topic at hand and research continuously to keep up with the trend and be sure you are delivering real value to the people you have taken up to coach. This will place you in a position of authority and have them see you as an expert who is worth every penny they spend on the coaching sessions.
b) The good thing about this is that with time, you’ll get to be invited to share your knowledge with more people and still get paid for that. As long as you ensure that the people you coach online are receiving good value for their money, you’ll always get referrals and even invites to share your knowledge with a wider audience.
So there you have it, seven profitable ways for you to monetize your knowledge online and have an extra stream of income. They are quite excellent and simple ways for you to engage in so you can pick one you are comfortable with and get started.
If you noticed, they all involved you creating contents at one point or the other so you need to have this skill set to help you in your quest to monetize your knowledge. Remember, good quality and useful content for your audience and then move on to the next step which is knowledge monetization.