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How To Stop Selling Time For Money

Tuesday, January 10, 2023

As a business owner or expert, it's easy to get caught in the trap of selling your time for money. But there's a way to break free from this cycle, and it's by turning your existing intellectual property (IP) into a variety of different offerings, such as courses, masterminds, events, guides, or coaching programs.

By packaging your knowledge and expertise into a tangible product or service, you can charge more for it. Instead of trading time for money, you can create a course or program that can be sold over and over again, providing you with a source of recurring income. Additionally, by creating these types of offerings, you can leverage your time and remove the bottleneck in your business. Instead of working one-on-one with clients, you can reach a larger audience and make more money by selling your course or program to multiple people at once.

But before you can start creating these income-generating assets, it's important to understand what kind of intellectual property you have that would be valuable to others. Take a moment to reflect on your skills, knowledge, and experience.

What is it that sets you apart from others in your industry?

What are you particularly passionate about?

And what are some of the common questions or struggles that you help your clients or customers overcome?

These are the areas that you should focus on when creating your course, mastermind, event, guide or coaching program.

Once you have a good understanding of your IP, 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 guides and templates. Creating a course is a great way to share your knowledge and expertise with a wide audience, and it can be sold over and over again.

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. Masterminds are also a great way to build a community of supporters around your expertise and to get feedback on your ideas.

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 others in your industry or field, build your personal brand, 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 blog posts. If you're an expert in a particular field, creating a guide can be a great way to share your knowledge in a way that's easy to digest and reference. Guides can be sold or used as a lead magnet to attract potential clients and customers.

Coaching Program: A coaching program is a one-on-one or small-group program that provides personalised instruction and guidance. This is a great option if you enjoy working closely with people and helping them achieve specific goals. A coaching program can be a high-income generator if you can reach a large audience, and it also allows you to provide more customised support.

In summary, turning your existing IP into courses, masterminds, events, guides, or coaching programs is a great way for business owners and experts to stop selling their time for money. By creating these income-generating assets, you can leverage your time and remove the bottleneck in your business, allowing you to reach a larger audience and make more 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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