5 WAYS TO MONETIZE YOUR KNOWLEDGE
Did you know that investing in your education and knowledge may one of the most profitable investments in your life? Nowadays, I am making money running this wonderful blog. Do you know what is the most necessary thing to be able to launch some businesses like mine? You won’t be able to make the same business if you do not have any knowledge. People like comparing knowledge with money. Some people think that knowledge is more precious than money. Others have dissimilar opinions. I think that knowledge and money are very diverse concepts, and therefore, we are unable to compare them. It is like comparing a banana with a beer.
Usually, people question why so many smart and knowledgeable people do not get rich. I have already written a profound article on that theme and I won’t cover it again. The inability to monetize their own knowledge is one of the main reasons why so many intellectuals do not get wealthy.
I would not be able to launch this web resource if I didn’t have any knowledge. There was a time in my life when I was absolutely free and I was not able to make any business at that time. Do you guess how I was spending my time? I was reading a lot of books. The books were very dissimilar. I read books about history, geography, psychology, anthropology, ethnography, history of pirates, and other helpful books. At that time, I was not wondering about the benefits of reading. I knew that reading was the most appropriate and adequate activity that I could do when I was absolutely free. Today, I see the benefits of the knowledge I obtained at that time.
Nothing in this world happens immediately. Everything requires time and effort. Being knowledgeable never has made someone wealthy, unless that person made some efforts to monetize his information. With the come of the Internet, it may seem that no one needs your experience and knowledge. However, this thought is deceptive. There are thousands of people who successfully make money using their knowledge.
Do you want to monetize your knowledge? I guess you do. You would not be interested in these blog posts if you were not interested in making money by using your knowledge. I have prepared a list of activities that will definitely let you carry out a successful monetization of your knowledge.
WRITING A BOOK
This is one of the most profitable methods to monetize your knowledge. Some people think that this business is dying due to the common availability of free digital books. Those people who tell this, know nothing about this business. There are still thousands of people who make millions of dollars by selling their physical and digital books. Both physical and digital books can be successfully sold nowadays.
What do you need to write a book? You require nothing except your knowledge. You may be a professional in a particular specialty or you might have some precious experience that will resolve the problems of people. Use these advantages and write a helpful book. Your “golden mountain” is inside you. You do not need to search for it in remote areas. Your knowledge is your wealth. Sell your information and you will get rich.
Amazon and CreateSpace give potential writers the amazing opportunity to write and self-publish a book for absolutely free. I made my first money on the Internet by selling my own books. Writing a book is much easier than other ways of knowledge monetization. You will need to spend one or two months of writing. Self-publishing on Amazon will take you a few minutes. After you have done everything, you will need to promote and advertise your book. I have written several articles on how to write a great book and boost your sales. You may learn about them on my blog.
Writing a book is one of the most efficient tools that will let you monetize your knowledge in a short period of time. Additionally, it is absolutely free. Your knowledge is the most precious investment.
Blogging is used by people worldwide to monetize their knowledge and experience. It is very easy to start a blog. There are nearly 290 million blogs on the Internet. However, 98% of the beginning bloggers fail at the beginning of their enterprises. After some time blogging, they recognize that their knowledge is insufficient to continue writing. You may write hundreds or even thousands of articles, but one day you will be exhausted. If you do not enlarge your knowledge, you won’t be able to continue your blog. That is what I have learned after a few days of blogging.
Blogging is more difficult than writing a book. You spend a few months writing a book. Then you publish and promote it. If your book is enough good, you will receive your passive income every month. This type of business does not require you to spend hours of your daily time in front of your computer. Blogging is a more serious and time-consuming activity. I spend at least 7 hours a day blogging. Your readers will wait for your new posts every day. If they do not see anything new on your website for a long period of time, they will merely forget about your blog. Your blog is your life journal and you will need to update it every day. I have made some researches on the Internet and found out that famous bloggers write 1000 words every day. I write at least seven detailed blog posts every day. Each of them is not less than 1700 words long. I have written loads of articles that consist of more than 4000 words. For example, this article consists of 1 754 words. Let us count how many words I write every day. Each day I write approximately 12 500 words. My numbers are greater than the word counts of other bloggers. Nowadays, I have a lot of free time, and therefore, I consider myself to be a full-time blogger.
As you have already understood, blogging requires a lot of time and patience. No one will pay any attention if your blog duplicates the articles from other resources. You need to be unique and very original.
I want to mention the main idea of this paragraph. Blogging requires knowledge. There is no single blogger who writes without having any knowledge. Even baby blogs share with their readers some useful information and data. If you have some experience and knowledge, you may start blogging and share it with your readers.
When you have enough traffic and a large number of regular readers, you will easily find some ways to monetize your blog.
Blogging is good to monetize your knowledge. One of the disadvantages of this method is that it requires a lot of time, consistency, and effort.
Do you know how much money famous consultants earn? Let me give you some data. Have you ever heard about Harry Schultz? This man is the highest-paid investment and financial consultant. His consultations cost 3,500$/hour – 4,900$/hour. This information may be outdated, however, when we look at these digits, it becomes clear for us that consulting may be extremely profitable. I do not guarantee you that you will earn four digits per hour in the beginning of your career. Harry D. Schultz has built himself a good brand and authority in the financial world. These are the most important factors that let him earn so huge money by consulting. I strongly doubt that an average specialist will have the same income.
You read this post because you are very smart and informative, but you still couldn’t monetize your knowledge. I am sure that you won’t chase big money at the beginning of your consulting career. Further, you may achieve higher levels of success. It depends on the quality of the information you will provide to your clients. If it is really valuable and it solves their problems, you will have a regular income in this field.
Consulting may be a good way to monetize your knowledge. It requires nothing but your information, experience, and good communicative skills.
INVENT OR DEVELOP SOMETHING
Do you know why Bill Gates is so rich? This man invented the software that is very useful around the globe. He invented something that didn’t exist in the world. Bill Gates is the best example of a person who successfully monetized his knowledge. He is a great programmer and he could not make his invention if he didn’t have any knowledge of programming.
Millions of people around the globe make huge money by inventing and developing new products. Do you know how many people make good money on Envato Market? There are millions of different inventors, programmers, designers, musicians, and other specialists who invest nothing than their knowledge to make money in that market. Envato Market is the best web resource that lets people around the world monetize their professional knowledge. The market is not restricted by only one type of digital products available for sale. Professionals of all kinds may make business on Envato. You may sell your own music, 3D graphics, audio, designs, photos, themes, web templates, and many other digital goods on Envato Market.
The greatest fortunes are made by inventing something new. Invent something very helpful and you will surely monetize your knowledge.
Tutoring is not “a get rich” formula, however, it can help you to earn some money using your knowledge. Do people really need it? Are they ready to give you their money in order to learn something? Investing in new knowledge is a good way to spend your money. Loads of people have already understood it, and therefore, they are willing to pay for useful knowledge and information. Knowledge of foreign languages may be very useful in this situation. We need a foreign language while making global business.
The Internet gives you a large variety of diverse opportunities. You may tutor people online. There are thousands of people who offer their tutoring services on Fiverr and other freelance resources.
You may try tutoring because it may be a good method to monetize your knowledge.
Knowledge is greater than money. You should know how to use your knowledge properly. You have great potential that can make you rich. Use different ways to monetize your knowledge and you will get rich.