“Knowledge is of no value unless you put it into practice”
– Anton Chekhov
What are you an expert in?
As an entrepreneur, it’s easy to take your expertise and skills for granted. But did you know that your expertise has a value and that you can sell it? Everyone has a strength or a skill they can capitalise on — it can be parenting, coaching, creative design — the list goes on and on.
So let’s talk about how you can seize the opportunity, and monetise your expertise to empower your audience to do what you do.
Finding your zone of genius
One of the problems entrepreneurs face is identifying the areas they’re already an expert in, and figuring out how to position themselves. To overcome this, make a list of all the things you’re knowledgeable about. Then narrow it down and consider which of these areas might be valuable to others, but also, how motivated you are in teaching it.
Let’s face it. Unless you’re working in a very specific niche area (in which case your audience is small), there are going to be people out there who have the same niche and expertise as you, and are bound to end up as your competitors.
Think about how you want to present your business and yourself in a way that’s fresh, unique, and different. Something that makes you stand out and make people want to choose you among others.
Know your target market
Now on to the audience.
Before executing your product or service, it’s important to know who your target audience is. Who are they? Where are you most likely to find them? Identifying who your target audience is vital because it will influence how you position yourself, what kind of online presence you want to create, and which platforms to be on.
We live in the information age where if you have knowledge, you are valuable.
Monetizing your expertise can be done in several ways, but getting started means understanding the value of your skills and expertise. Who is willing to pay for what you know? What are they willing to pay?
Developing a one-person consulting business is not for everyone, but it is one way to turn your knowledge into profitable assets. This blog has given you a place to start in developing an action plan that will give you the greatest chance at success.