How to Monetize Your Knowledge – A Complete Beginner’s Guide
If you are wondering whether you can sell your knowledge, the short answer is yes you can.
Thanks to the Internet, it has become increasingly easy for anyone to monetize their skills.
In this comprehensive guide, I will walk you through:
- The most common questions people ask about Monetizing their knowledge
- How to package your knowledge into a profitable digital product
- How to sell your expertise
- The step-by-step process of monetization
- Plus mistakes you must avoid when you want to monetize your know
and so much more.
Let’s jump in.
Can knowledge be sold?
Yes, your knowledge can be sold, and very easily too if you do it right. Every day, people are online asking questions and needing help in just about any area of life.
It doesn’t matter what knowledge you have right now, there is someone somewhere in the world looking for you. The question is what are you doing to ensure when people search for you they find you?
Your knowledge can be sold in many different formats online.
You can package your knowledge into eBooks, digital courses, classes, workshops, coaching, group coaching, webinars, audio presentation, and even in-person classes.
If people are asking for your help with something specific, it may be because they are convinced you to have the knowledge and expertise.
This is the sign you need to start asking people to pay you for your knowledge.
This is why more and more people are beginning to monetize their knowledge.
What does it mean to monetize a skill?
To monetize a skill means to charge money for that skill and get paid for it.
No matter what skills you have right now, if someone needs your help and you can help them, then you can monetize that skill.
For example, if you know how to manage and grow a social media account, that is a skill you can charge for.
A skill is essentially anything you have mastered for yourself that can bring value and utility to others.
You have to understand what people are asking for and position yourself to provide the value they need. Skills can be obvious like selling, marketing, singing, baking, etc. Or they can be a little less obvious like communication, empathy, listening, and intuitive guidance.
Oftentimes a skill is something you have taught yourself through self-imposed practice, repetition, and experience.
So do not underestimate the power of what you have learned and the value in what you know right now. You can easily monetize your skills online by asking people to pay you for them.
How do I sell my expertise?
If you are ready to sell your expertise, you are embarking on one of the most lucrative forms of business online today.
First, you have to consider how you enjoy sharing your expertise.
Do you love to teach? Speak? Write? To sell your expertise you’ll need to package it into an offer or product that people can easily pay for.
If you love to write, you can sell your expertise in eBook formats. If you love to teach, you can easily create a profitable digital course that people can access anytime.
If you are someone who loves to speak, you can create audio classes that people can have access to.
Selling your expertise online is easier when you have an engaged audience listening to you.
This is why social media platforms are so powerful for business. On social media, you can attract a group of people who are interested in what you teach.
Imagine having an Instagram page with 5000 engaged followers.
If you create an ebook to monetize your knowledge and price it at $10, all you need is 100 people to buy it to earn $1000 online.
Or let’s say you decide to sell your expertise in the form of a digital course.
A digital course is usually priced higher than eBooks and you could easily charge anywhere from $50 – $2000 for a digital course.
If you package your expertise into a digital course priced at $500 and 20 people buy your course, you will earn $10,000 in course sales.
Of course, these are just estimated projections but you can easily see what’s possible.
If you want to monetize your knowledge online, read this.
This will be a simple process for most people.
What is the process to monetize your knowledge?
The process to monetize your knowledge is simple, but you have to be willing to do the work to make it work. To monetize your knowledge means getting people to pay you for what you know.
And if you want people to pay for your knowledge, you have to know how to sell.
This means you need people you can sell to if you want to monetize your knowledge. Selling is easier when you are selling to people who already know you, listen to you, like you and trust what you are saying.
Once that is in place, you can then begin to make offers to your audience and ask them to pay you.
Let’s go through the most important steps to monetize your knowledge online.
1. Grow an online audience
If you want to monetize your knowledge online, you need an audience you can sell to.
Having your audience means that you have the opportunity to earn money for a long time to come.
Pick a Platform you prefer.
The platform of choice will depend on how you like to create content online.
If you enjoy being on video, you may want to consider starting a Youtube channel. If you enjoy writing, you may want to start a blog or write on platforms like Twitter and Instagram.
I recommend starting an Instagram page because it can be generally easier to grow on Instagram. But don’t focus on the money in the beginning.
Instead, focus on creating consistent content on your platform of choice. If you choose Instagram, you can grow your first 5000 followers fast in the first three months.
It will take longer to grow a blog or a Youtube channel. This is why most people start on social media and transition to more long-form content after a while.
I suggest you start growing an Instagram page and get your first 5000 followers on Instagram before you monetize.
2. Create consistent content
Creating content online is how you attract an audience to your brand. If you don’t post the right content, you won’t attract a high-quality audience.
Do not skip this part.
Having a quality audience is key if you want to monetize your knowledge and expertise eventually.
Most people just want a lot of followers and will do anything to get followers.
But you must focus on getting quality followers.
The only way to attract quality followers is by posting quality content.
- Choose 3-5 topics in your niche that you can consistently talk about
- Rotate your content on these topics and become known as the go-to expert in your niche
- Choose a posting schedule that works for you. Your posting schedule on social media also depends on what platform you choose.
If you are on Youtube, aim for 1 video per week.
On Instagram, aim for at least 1 post per day
On Twitter, aim for 3 tweets daily and 1 thread weekly.
Whatever posting schedule you choose, try as much as possible to stick with it consistently.
The first 90 days on any platform and crucial and you want to maintain consistency if you want to grow.
3. Find out what people need help with
The only way people will pay you is if you can help them. It is crucial to your success that you pay attention to the questions people always ask you.
Before you monetize, you want to be clear on what people need help with in your niche.
So how do you find out what people need so you can provide a product they can pay for?
Here are some simple ways:
- Look in your comments
- Pay attention to your DMs
- Observe the comments on your competition pages
- Ask your audience directly
- Observe which of your content topics get the most engagement
4. Decide what skills you want to monetize
Now that you know what your audience is asking about, the next step is to align your skills with the problems people are having. Which of your skills is most needed in the marketplace?
Creators get it wrong most times because they want to create what they feel like.
If you want to make money online, however, you must create what people need. So which of your skills, or what aspect of your knowledge will be most profitable?
Once you decide what you want to teach and get paid for, the next step is to ensure people know you have this skill.
And the way you do that is with your content.
5. Drive demand for your skills with your content
Your content is what you’d use to let people know that you can help them. You want to make sure you are creating content in a way that drives demand for your skills and expertise. If you want to create content that drives demand, your content must make people feel:
- Educated /Informed
- Ready to take action
You must also let people know that you can help them and make an invitation to have them work with you.
How do you know you are ready to Monetize Your Knowledge?
Imagine this for a moment.
Imagine that right now there is a simple money-generating idea sitting in your head.
Or you are sitting on it.
All this time you’ve been wondering how to improve your life, earn more money, and have more freedom, yet there is so much wealth potential in your head just waiting to be unleashed into the world.
But you are sitting on it!
Long before I started monetizing my knowledge with digital products, I was broke and depressed and unhappy with my life.
My unhappiness at the time was also compounded by the fact that I knew I was good for it. I knew I was gifted, I knew I had the brains and potential, I just didn’t know how to turn all this into money.
Is that you?
Do you feel like you are so good at a certain skill that you wish others will pay you for?
Have you imagined the possibility of teaching others your information and getting paid for it?
We live in the most exciting time of our lives and the opportunities to earn are endless. Selling digital products online was the key to unlocking the shackles of poverty and despair that I experienced.
Today, I want to gift you the keys and a step-by-step blueprint to turn what you already know into a digital product that people want to buy. I wish someone shared all of this when I began, it would have saved me hours and months of trial and error.
Read this carefully, you might stumble upon the very tiny idea that will unlock the money you already have in your mind. Let’s dive in.
STEP 1: Uncover Your Gift, Chase Your Curiosity
The very first step is finding out what you already naturally love and aspire towards. You don’t want to become somebody else. One of my fav quotes by Alan Watts says “Find a way to get paid for playing.”
Think about the freedom in that.
Imagine doing what you already enjoy and getting people to pay you to keep on enjoying and having fun. This is the future of work. This is the present reality of making money and how it should be.
You do not have to slave away at a nine-to-five that you detest. You do not have to exchange your valuable time and hours for peanuts.
So my question to you is what do you currently enjoy doing? Best believe, there are millions of people just like you who enjoy what you enjoy.
When I started creating content online, my curiosity was content.
Specifically how to create content and grow communities on Instagram. I started a new Instagram page to teach others how to create content and grow on Instagram.
That single curiosity has led me to other curiosities and now I have added a fleet of high-value skills to my arsenal, one of them being an expert Sales Funnel Builder.
So what’s your present-day curiosity?
Don’t wait to know more than you know now. Start with what you know and love now.
STEP 2: Share Your Knowledge, Grow Your Audience
Now that you’ve uncovered what you are wildly curious about, the next step is to share your knowledge about this subject.
Yes, we have Google to answer our questions but we are still humans and humans are still social animals.
Social media thrives because of our inherent nature to be social and connect.
People can find the answers from Google if they want, but they also love to follow someone.
We all need someone to show us the way.
Sharing your knowledge through content online will immediately position you as a leader in that space and you can begin to grow your tribe.
Seth Godin says we are all leaders in today’s digital world.
The minute you start sharing your thoughts and ideas on the internet, you slowly start carving out your own little country of people who look to you to guide them and support them.
You don’t need to be an expert either. You just need to be one step ahead of us and lead us through what you have done to get to where you are now.
The good part is the more you share and teach the stuff you already know, the better you know and the more your audience grows. It’s a win-win however you look at it.
Choose any two platforms and start spreading your message!
STEP 3: Invite Your Audience, Grow Your Community
Now you have a nice little group of people following you on your platform.
You are creating content consistently just sharing your ideas, knowledge, and opinions on your topic of choice. More people are beginning to listen to you. They are leaving questions in your comments and DMs, they have begun to ask you for more.
Your following on social media is growing and you are having fun with it. This step is very crucial. You have to begin to invite your audience into your private communities.
This means asking them to join your email list, your Whatsapp groups, Telegram channels, Discord, or wherever else you want to serve your audience privately.
Think of it this way, social media gives you the platform to reach a lot of people. When this people notice you, you have to take them off social media and grow your platforms.
This is yours, no one can take it away from you.
You want to continue to use your content to generate leads for your business. Let’s get to the business.
STEP 4: Ask Your Audience, Give them What They Want
Business is really simple. Find a problem in a hungry market, provide the solution and ask to get paid.
Problem + Market + Solution = Money
You already have a passion and acquired knowledge in a specific market, but people do not necessarily just throw money at what you know. They throw money at the solutions your knowledge can provide for them.
Now you have an audience listening to you and engaging with your content. You want to start paying attention to the questions they are asking and the content they are interacting with the most.
You also want to consistently ask your audience directly what they need help with so you can uncover the most profitable ideas for your offers and digital products.
Don’t make the mistake of assuming you know what your audience wants. This is the fastest way to create digital products and offers no one wants to buy.
Start finding out how people need your help.
STEP 5: Get Paid For Helping 1:1
You make money when you ask to get paid.
Do not let fear stop you from putting a price on your knowledge and expertise. This is where a lot of people get hung up, the money part.
Once you are clear on what people most need help with, it doesn’t matter how basic it is, offer help and get paid. You’ll be surprised to find out that what your audience need help with are the simplest things.
I used to make the mistake of sitting in my ego, knowing too much, and wanting to show that I knew a lot.
I got my audience overwhelmed and confused and it cost me money.
No matter how far ahead you get in your journey, you must always come back to the basics and provide help where it is most needed.
The easiest way to make money with your knowledge is to offer one-to-one support. Start with one person, then two, and grow from there.
Once you encounter a problem that comes up a lot for most people, then you know you have a potential winning digital product in your hands.
STEP 6: Create a Digital Product, Get Paid While You Sleep
I love digital products because they help you reach people at scale. There is only one of you and you can only go so far with helping people one-to-one.
The goal is to eventually create a digital product that many people can buy at once.
My first digital product was a comprehensive eBook guide teaching people how to use Hashtags to get more followers on Instagram. I only created this eBook after solving hashtag-related problems for several people.
Doing this one-to-one soon got increasingly frustrating because I was answering the same questions to different people.
So I did what any smarty pants would do and I created an eBook. That eBook earned me my first $5,000 on Instagram.
If many people are asking you for help with the same problem, then it may be time to expand by creating a digital product to solve that problem.
Making money with what you already know and have is as simple as following these six steps. If you already have step one which I am sure you do, all you have to do is follow through.
Do not get hung up on any step either.
Don’t wait to get to 10,000 followers before you start asking to get paid for your knowledge and support.
You can start right now even with 200 followers.
If people are already following you, it is a sign that they like you and want more of you. It is also proof that they need your help.
If you want to make money, you have to focus on generating Leads, no matter how small your audience is. I teach you the surefire way to generate high-quality leads here, using a lead generation funnel.
Watch the Funnel in a Day Masterclass now and start generating leads in your business all on autopilot!
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