Monetizing your knowledge simply means converting your knowledge, skills or experience into money. It is when you charge a fee for sharing information with others who are looking for solutions or answers. When this is done over the internet or digitally, it could yield massive financial rewards thereby making it a viable stream of income.
Why Do You Need to Monetize Your Knowledge?
There is an increasing demand and need for knowledge, solutions on any subject or endeavor all over the world. Africa alone, is a billion people market and you can sell outside your country to any part of the world. The opportunities are huge and COVID-19 just opened up a huge portal for us. You can either see COVID-19 as a problem or as a blessing in disguise, and be in a position where you’re saying thank God it happened. Remote learning and training are here to stay.
What Kind of Knowledge Can You Monetize?
Any knowledge. We live at a time when knowledge is at an increasing demand, making it the most valuable and acceptable currency anywhere in the world. You can monetize the knowledge you gained from your personal experience, your formal education, your work experience, your talents, your skills, or knowledge you acquired from a mentor.
Why Would People Pay You for Your Knowledge?
People would pay you because they want results and equally want to save time. They want to learn from someone they can access, who they believe is credible. There is so much on search engines like Google, Bing and it can be pretty confusing for a lot of people. Many people are not ready to keep scrolling on Google when they can get access to a ready-made, step-by-step solution to their problems.
How Exactly Can You Monetize Your Knowledge?
The best way you can monetize your knowledge is by creating and selling tangible products around your knowledge, or else people will keep picking your brain for free. This product can be physical or digital. Physical products include live events, seminars or masterclasses while digital products include eBooks, webinars, online courses, online consultations, etc. Personally, I prefer digital products because they are very profitable, less stress and unlimited in their delivery. That is, they can be delivered to an unlimited number of people via the internet, no matter the time or location.
Your Next Step
Seeing that you now know so much about how to monetize your knowledge, you will agree with me that if you set your mind to this, you can do it, right? You will also agree with me that there is still so much to learn if you want to do this successfully. Depending on the level you are on right now and how much you are willing to invest in creating your own digital product, you can begin your journey immediately. This can be as simple as an eBook or as full as an online course