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Watch the Journey
Monetize Your Knowledge Online
Your education and experiences can help someone else improve their life.
Like a wise mentor, you can pass along what you've learned from your life and hobbies to others. And turn it into a full-time business or side gig.
You don't need a college degree that declares you an expert in a particular field.
The "knowledge economy" or "knowledge commerce" has become a big industry thanks to the internet. Below, we discuss why and what interests make for good knowledge commerce.
Thirst for Knowledge
We're in an informational age. The internet has given us a thirst for knowledge. Never before in history have we so readily accessed answers to our burning questions.
Have you ever wondered what meal you could make from leftover ingredients in your fridge? You ask your smart device, and–boom–see (or hear) someone has published a recipe with your key ingredients.
You may have Googled information about a show you're watching as questions about it pop into your head.
And what about educational content like podcasts and TEDx talks? They're enjoyable and educational. What's more, the experts on stage aren't always mega-educated in the institutional sense. Their work experience, hobbies, or lives gave them the knowledge they're passing along.
Yes, instant online information has made us thirsty for more knowledge. And that thirst has led to the growing knowledge economy.
Do you have a particular set of skills, advice, or knowledge others would appreciate? If so, you can monetize it as your sole source or additional source of income. Let's discuss what types of knowledge make great online businesses.
Turning Your Passion into a Job
Anyone with the knowledge to give can become an unconventional teacher. Are you a professional educator, an enthusiast on a particular subject matter, or someone many turn to for advice? If so, you have the potential to create informative online courses.
The following skills make great online knowledge-based businesses. This is by no means an exhaustive list. Use it as a guide in figuring out how to monetize your website around your skillset.
- Academic Courses
- Arts and Crafts
- Animal Care
- Business Development
- Career Development
- Child Development
- Cooking/Baking
- Design
- Exercise
- Fashion and Beauty
- History
- Mental Health
- Personal Development
- Physical Health
- Sports and Hobbies
- Technology
- Wealth and Finance
- Videography and Photography
Pick Your Digital Product(s)
Your chosen field of expertise might lend itself to one medium over another. Conversely, many avenues might work (and give your audience many ways to reach your content). Consider the following seven ways to share your knowledge:
1. Website
A website is a must-have for every entrepreneur. Without one, you’re invisible. You don't need graphic design or coding skills when you pick a software or service with templates to get you started. You’ll need to decide if you want your website to contain your courses or if you’ll “park” that feature somewhere else and leave your website for testimonials, landing pages, and the like.
2. Podcasts
Run your online knowledge economy like an on-demand radio show. Your listeners can catch you live or replay you as they go about their daily tasks, from commuting to work to exercising.
3. Membership Sites
Customers pay a fee in exchange for access to your content. Unlike a blog, which is free for public discovery, this information digs deeper and lives behind a paywall.
4. Online Courses
A course is a series of materials that teach others how to do something. You can immediately release the entire course to a paying customer or in drips to control the pace. Additionally, a course could be videos, audio, written material, or tools (like a calculator). They can be any length.
5. Webinars
Webinars allow you to interact with your audience more as you livestream your presentation. You can have Q&A segments, capture leads, promote upcoming upgrades or events, and reward participation with prizes.
6. Whitepapers or e-Books
These abbreviated digital products have become the industry standard in generating leads–you offer this less in-depth knowledge in exchange for contact information. They increase your user’s thirst for knowledge and inspire them to sign up for more educational material from you.
7. Tutoring
Provide one-on-one customized virtual help to those hoping to learn a skill.
Your online business could morph into additional ways of making money, like guest blogging, offering in-person classes, or consulting.
Tools You’ll Need
You don't need a significant investment to start your knowledge-based online business. You'll need a computer or smartphone, an internet connection, a microphone for better sound quality (maybe), and a digital marketing platform for your website and content to live on.
Outline Your Content
Start a rough draft of your educational material. Arrange it in sequence as best you can.
Create Course Material
As an expert in your chosen subject, you likely know how best to share your knowledge. Your audience can read, watch, or listen to absorb the education you provide.
Add to Your Platform
Software can do the heavy lifting of creating online content for you through templates. You won't need to understand coding or programming. And you won't need to hire a professional coder or programmer.
Your digital marketing service of choice should allow you to build your online educational material to best suit you, your subject, and your audience.
Consider looking for a platform that lets you turn your website and pages into an online marketing or e-commerce marketing funnel–it lets you build and capture leads to grow your subscriber base. Additionally, find one that helps you create the following types of web pages: landing, lead magnet, sales, contact, testimonial, order forms, upsell pages, applications and more.
The Perks
If you have knowledge the world can benefit from, you can create a website to monetize that knowledge. You don't need another degree or a big investment to get started.
Teaching online is perfect for scaling a business–you can reach millions of people from anywhere at any time after creating educational content just once.
Today's learners are becoming accustomed to gaining knowledge on their own time and at their own pace from wherever they choose. They prefer on-demand content versus traveling to a set place at a specific time.
The internet has created a thirst for knowledge. When people can learn whatever they want in whatever way they choose, they readily devour information.
Teaching digital content provides you and your audience flexibility, making your content more accessible and enjoyable. There's never been a better time to capitalize on your skills and passions.
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