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3 Tips For Turning Your Knowledge and Expertise Into A Lucrative Online Business

April 15, 2021

You could be an expert at anything. Whether you know how to speak so that people listen, cook food that people love or you’re the go-to person for creative advice.  A lot of us have talents, skills and knowledge that we are more passionate about than our 9-5 jobs.

Many of us just let our expertise wither as a hobby and nothing more. But the internet has made it possible to turn your skills into a legitimate source of income. 

There are countless ways to take advantage of the reach that the internet has provided us with. You can’t even imagine how many people are in need of your services and knowledge. But with so many possibilities, solopreneurs often get confused and never start. But you just need to choose the right channels and methods to find the right fit for your personality and business niche.

1. Launch a Blog, Podcast or YouTube channel

You need to somehow showcase your expertise and build an audience for it. Blogging, podcasting and YouTube channels are all proven methods for gaining followers and building an audience. 

If you are successful in achieving a larger audience then these channels can become quite lucrative. Promotions, advertising partnerships, sponsorships and affiliate links, all these methods can set you up for making money. 

Of course, you can’t expect to start making big bucks right away. As you grow your audience by publishing great content, the potential revenue will grow exponentially. 

Another great way is to utilize these channels as content marketing tools to drive traffic/leads to your business/website. Every valuable piece of content you write will keep delivering value to your business long after you've written it.

2. Make Your Expertise Available As a Consultant

If you want a more personal or “person-to-person” interaction with your audience, working as a consultant could be the perfect fit.

A consultant knows their stuff and can apply their knowledge to individual situations. This is what I do as well - talking to business owners and diving deep into their business to learn about their problems and figuring out their opportunities. 

If you are confident in your skill/knowledge/ability and can get quality results for your clients, then you shouldn’t have any trouble charging a handsome amount for your services. People buy your services if they trust your expertise, see you as an authority in your field and know that you can help them with their problems.

Whether you want to be a fitness consultant, design consultant or a communication coach, the internet has made it easy to expand our reach beyond borders. 

The only prerequisite is that you need to have a digital presence. So people can learn about your services and book it online. No one wants to inquire about it by calling or emailing you. You need to make it easy for your audience to reach out to you. This can be done by hiring an expert to create a website for you (Why your business website is more important than ever in a pandemic world) or having a social media presence. 

3. Create A Course To Leverage Your Knowledge

No matter which stage of business you are currently at, it’s no secret that entrepreneurship is a lot of constant hard work. If you are more interested in a passive income or “set it and forget it” approach, then creating a course could be the perfect route for you.

There are a lot of services such as Teachable and Kajabi and many more similar platforms that let you create and publish courses. Of course, your course needs to provide real and exclusive value that can’t be found online for free. Consider what your target audience wants and how you can make it as enticing as possible. Then price it according to the value it provides.

Although creating a course seems like a lot of work upfront, but once you set it up, it can pretty much run on auto-pilot and you’ll be making money while sleeping. 

Just like content, a course can also be leveraged to attract leads towards your business/site. It can be used as a lead product to bring customers into your business and after completing it you can then upsell them with bigger and more profitable services. 

Ready to turn your knowledge into your career?

No matter which path you choose, remember that it takes time to build an audience. More than that, it takes hard work and persistence to keep doing it consistently. But one thing is clear, the internet can be a pathway to financial freedom.
If you feel like you are stuck in a job you hate, you can start this as a side hustle and eventually make it into your main career. Yup, you can really make money doing something you love and enjoy.

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