Whether you’re a car salesman or a plumber, you have a body of knowledge that others will pay to have. Here’s how to start the process of packaging your expertise. It’s time to get paid to teach others what you know.
Value. Value. Value. That’s the Name of the Game.
As an expert in your field, you already have a wealth of knowledge, and your expertise is valuable.
Valuable and monetizable.
The secret is knowing what to monetize and what to give away for free. That’s what this article is really about.
After ghostwriting hundreds of articles and dozens of books for authors, public figures, and business people, I have learned there are three types of creators:
- The High-Value Creator who wants to give people as much value as possible, even if that means there’s nothing to monetize.
- The Reciprocity Guru is only interested in giving away enough information to justify asking people to buy in the immediate future… usually at a pretty steep price
- The Information Miser thinks you should pay for every drop of information he or she gives out
Let me make this crystal clear: I firmly believe your goal in teaching other people what you know should be adding value.Yeah, well if I give away all my knowledge, there won’t be anything for me to monetize.
I have two responses to that. First, most people are satisfied just consuming content. They aren’t going to actually execute, so giving away knowledge is not going to stop them from buying your product, too.
Second, If you really are an expert in your field, you will have so much experiential wisdom and knowledge to share that you can tell the whole world all there is to know about your business and still be able to monetize your actual strategies. In other words, give away give away the gold (the who, what, when, where and why) and sell the platinum (how to do it).
Always aim to give your audience far more value than they expect. Your reputation (brand) will earn you a shot at getting their attention. When you deliver on your promise to educate and entertain, you will be able to keep their attention.
How to Know What to Give Away and What To Sell
How can you freely share with your audience the gold nuggets of wisdom you have acquired from working in your business? Your gold nuggets of wisdom help people get things done.
For your own blog, free downloads and YouTube training videos, focus on providing your audience with a perpetual list of ideas and insights that fall into the what-to-do category: Do this if you want to increase conversions on your site. Do this if you want to boost your income as a hair stylist. Do this to get a shot at writing for a national magazine.
Then there’s the platinum-level information. That’s the premium content – the master’s secrets that you save for your paying customers. These are the deep insights and the turn-key systems that help people streamline the process of reaching their goals. Your premium content and your highest-value knowledge is what you sell.
The premium content you create for your paying customers can be step-by-step instructions on exactly how to do everything you have told them to do. If you told them to write a pitch in order to increase their chances of writing for a national magazine, your premium level content should include a step-by-step chronicle of exactly how to write a pitch, what to say in the pitch, what makes a pitch stand out, sample pitches that have worked for you and your colleagues in the past. Tell them how to contact the magazines, provide a list of magazines to contact, and links to their contact pages.
That is the difference between giving gold and platinum level information.
Here’s what you do next:
- Ask yourself: What do I know that I can organize and formalize into a training program?
- What problems do I solve for my clients (braiding hair, buying properties, potty-training kids) that I can teach through videos or written materials?
- Create a list of topics you know enough about to teach on for at least 90 minutes.
- From that list, identify the one topic you know the absolute most about and write down 5 to 10 points someone would have to know and understand to be able to do what it is you know how to do.
- Now, sweeten the pot by doing a little bit of research on the topic. So, if you are teaching a braiding class, maybe you can do some research to find out where the particular braid style came from or when it became popular. Maybe you can talk a bit about the best face shape or the best hair to use (or the hair that’s best-suited) for this particular style. People love a good backstory.
- Write down a few points about how you learned to do what you do. Who taught you? How long did it take you to learn? How many times have you done it. This is the information that qualifies you to teach others.
After that, there’s nothing left to do but teach. Talk about what you teach, then put a call out for people who want to learn.