With the current state of the world with COVID 19 and the country literally shutting down, it has shown me more than ever the importance of multiple streams of income. Anyone that knows me will tell you I wholeheartedly believe in multiple streams of income. More times than not we completely overlook life experiences, skills and expertise we already have that can be used for income generation. There are many ways to generate an additional stream of income with what you have right now.
We all have areas of experience and expertise. Everyone has an area they can use if they’d like, but many believe they have to be in the forefront of their field to monetize their knowledge. Many who seek knowledge or guidance are “ordinary” people looking to understand, seek help and oftentimes looking for another “ordinary” person--one they can identify with. Expertise can also be defined as your life experiences.
Think about the skills/areas of expertise you may have, things you enjoy doing and many times do with little effort.
Do you find yourself always being asked for advice on a certain topic?
Are you a strong writer? Or great at computer software?
Do you have strong administrative skills? Or love cleaning, cooking, lawn care or fashion?
If you answer yes to one of these questions, you can monetize it!
A great way to test your ideas is to simply start talking about them. Share your idea on social media, talk to friends and coworkers, listen to people’s problems, then create the solution.
Here are a few ways you can monetize your experience and expertise.
Consult offering your services.
Host webinar sharing your take on a topic.
Create an eBook with information.
Start a blog or write a book outlining your knowledge.
Start a specialty service business.
It only takes three things to get started! Of course there’s major work needed to generate and maintain a consistent stream of income.
Determine the advice, experience or expertise you want to monetize.
Identify the problem(s) you want to solve, as well as the services you can offer.
Determine your target audience.
People want solutions, convenience and the best quality of life possible. If you can provide one of those by solving a problem, people will pay you to help make their lives better.
Need help determining the area you want to monetize? Let’s talk. Schedule a consultation and get ready to generate that additional stream of income!