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How Experts Can Earn More Money From Their Knowledge

Tuesday, January 10, 2023

Are you a business owner or expert looking to earn more money? If so, you're in luck! One of the best ways to do this is by turning your existing intellectual property (IP) and knowledge into a variety of different offerings, such as courses, masterminds, events, guides, or coaching programs.

But why should you consider turning your IP into these types of offerings? For starters, by packaging your knowledge and expertise into an alternative product or service, you can charge more for it. For example, if you're an expert in your field and currently sell your time for money, you could create a digital course on that subject, charging hundreds of pounds instead of thousands for it, but highly leveraging your time and selling one to many instead of one to one.

The cost of delivery is considerably lower and you can scale and grow this model, without the limitation of only being available for a certain number of delivery hours per week, or month.

But where do you start? Firstly, think about what kind of knowledge and expertise you have that would be valuable to others. It could be a particular skill, technique, or process. It could be in a specific industry or market, or even a unique perspective or approach. Once you've identified your IP and you're really clear on what problem it helps to solve for people, you can start to package it into one of the following offerings:

Courses: A course is a structured program that teaches a specific subject or skill. It can be in the form of an online video course, a live webinar, or even a downloadable assets and resources. Creating a course can be a great way to share your knowledge and expertise with a wide audience.

Masterminds: A mastermind is a small group of like-minded individuals who meet regularly to discuss and brainstorm ideas related to a particular subject. If you're an expert in a specific area and enjoy facilitating discussion and collaboration, this could be the perfect format for you.

Events: An event is typically a live, in-person gathering of people. This could be a conference, workshop, or seminar. Events are a great way to connect with your customers at scale and share your knowledge in a more interactive and engaging way.

Guides: A guide is a comprehensive resource on a specific topic. It could be in the form of an e-book, PDF, or even a series of templates. If you're an expert in a particular field, creating a guide can be a great way to share your knowledge, that's easy to digest and reference.

Coaching Program: A coaching program provides personalised instruction and guidance, with the aim of accelerating the results for your customers. This is a great option if you enjoy working closely with a smaller group of people and helping them achieve specific goals.

Once you've chosen the type of offering that works best for you and your IP, it's time to start creating it! Remember that your course, mastermind, event, guide, or coaching program should be high-quality and provide real value to your audience. It's also important to market your offering effectively, to ensure that people know about it and are interested in purchasing it. 

When starting out, I recommend testing your offer with a small group of leads or customers to make sure that there is demand, BEFORE you create the supply. If you have an established business, successfully selling your time for money to similar customers, then this should give you extra confidence that demand exists and that it's time to leverage your time and knowledge to create additional streams of income.

In conclusion, turning your existing IP into courses, masterminds, events, guides, or coaching programs can be a great way to earn more money as a business owner or expert. It's an opportunity to package your knowledge and expertise into a tangible product or service that can be sold to a wider audience. With the right approach you can take your business to the next level, removing the limitations of selling your time for money. This is what we refer to as becoming an IP Rockstar.

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Hi, I'm
Adam Bonner

Co-Founder of Convertico

I am a customer journey strategist, sales funnel and marketing automation specialist. I bring together my knowledge of offer and asset creation, marketing and building out customer conversion systems, to help experts and business owners generate more income from their knowledge and to grow their businesses. 

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