How to Make Money From Your Knowledge
Knowledge is power, is what they say, but it’s also a way to make a living. The more you know on one subject, the more likely it is that you convince other people to directly or indirectly give you money for that information. Though there are some specialized subjects that really won’t lead to gainful employment (let’s say, knowing everything about…one particular episode of Friends), most knowledge can be put to good use. That’s all good and well in theory, but how does it look in practice? We take a look at a few ways below.
Become a Consultant: If you have experience in an industry or in one particular aspect of business, then you can offer your services to companies who first, need the information that you have, and second, don’t have a need to hire someone full-time to do the job. The consultancy field is large. You can advise companies on how best they can grow, for example, or you can fix a particular problem they’re having. For example, this could involve assessing and then offering guidance on how to improve their IT setup, or marketing strategy. Studies have shown that consultants earn more than regular employees and have more flexibility, too. You will need to have many years of experience before taking the plunge with this career-move, however.
Online Learning: One of the more exciting aspects of the digital world is how it’s changing how people consume information and learn. If you’re an expert in one particular subject, then you can look at creating an e-learning course. It doesn’t really matter what the subject is (everything from agriculture to how to create a business is fine), so long as you create a valuable course that people trust. For useful tips on creating an online course, try checking out sites like Udemy, Coursera or visit Simplero, where you can find helpful pieces of advice on creating and managing an e-learning course.
Once the course has been written (by you or someone else), it’ll be all about marketing. You’ll want to work with a company that offers pop up ads for eLearning companies, and also develop a social media marketing strategy. Once the course is out, it’ll generate a passive income.
Writing Books: Again, another celebration for the internet: it has made the publishing game for equal. Now, you don’t need to wait for a publishing house to get your knowledge out there in book form. You can simply write the book, and release it yourself. If you have enough expertise and knowledge, and you’re writing about a subject that people care about, then you’ll see plenty of downloads — and the bulk of the revenue will go into your pocket, too. If you write one successful book, you can have a sizeable passive income.
Own it in Interviews: Finally, remember that you don’t need to do your own thing in order to make your knowledge work for you. It’s possible to make the most of what you know and be a regular employee. The key thing is to make sure that your employer knows what you’re bringing to the table by using it in the negotiation stages of a job interview. Own what you know!
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