How to Make Money Selling What You Know
Everyone is always searching for another way to make extra money at all times of the day. How do you make extra money selling information you already know? The best way to make money selling what you know is to create and sell online courses, freelance, and create and sell digital products. Any of these options will generate a steady extra monthly income.
Why is selling what you know so valuable
Selling what you know is so valuable because others want and are willing to pay for information you already know. Things that you consider to be common knowledge are not always necessarily known by everyone. People are always interested in learning new information and skills and if you possess them you’re able to make extra money selling that information.
Information and knowledge is power. The more you know the more you can earn. This is why people are always searching for as much valuable information as they can find.
Selling what you already know can also help grow an existing business. You can use your personal and professional experience to craft a variety of information products that will generate a steady extra income even when you’re sleeping. The best part of making money selling what you know is you already know the information so it doesn’t require as much research as something that you wouldn’t know as much about.
Ways to sell what you know
There are 3 proven ways to make money selling what you know.
- Create and sell online courses
- Create and sell digital products
All of these options provide different opportunities to generate additional income depending on how you use them.
What is an online course?
An online course Is an on-demand learning option that allows people to learn at their own pace when they choose. Online courses can be simple such as a PowerPoint presentation or an interactive course that tracks your progress including quizzes and tests. Online courses are perfect for individuals who are interested in learning more outside of a traditional classroom format because on-demand learning does not require meeting at a scheduled class time.
Why create an online course
Creating an online course is a good idea because you can sell information you already know to others in need by providing it in a format that’s easy to digest. You can create a course once and make money from it repeatedly versus having to make and sell an individual physical product over and over again.
Creating an online course allows you to train people how to use something that you may already sell. If you own an existing business, online courses can help support that existing business by showing your current and potential customers tips and tricks to use your product and also allow customers new opportunities to discover more your business has to provide.
One of the best features of making money with online courses is you can earn money even when you’re sleeping. it doesn’t require you to be available and online at a specific time anytime someone wants to purchase access to your course.
How to create an online course
When creating an online course there are a variety of things you need to do in order to ensure the course is going to contain information that is valuable and useful to your target audience. Remember, all information is not valuable. Only valuable information presented in a way that can be easily digested will be successful.
Think of a subject that you already know a lot about and use that as the target of your course. Once you’ve identified the subject, start to research that subject to obtain additional information that will set your course apart from all the others. Write an outline and create goals and objectives and use that information in order to create your final course content.
Once you’ve written some really good content for your course, then it’s time to identify a platform and a provider to make your course available to the masses. There are a variety of options available to you if you want to sell your information as a course online. Most of the platforms available allow you to list your courses for free and every time you make a sale you pay a small fee and keep the remaining balance of the transaction.
Providers such as Udemy, Teachable, and Thinkific are good platforms to sell your courses. Remember, once you create your course and add it to any platform the work does not stop there. You must market your course, why it is valuable, and why individuals should be interested in purchasing your course instead of your competition. Selling courses can be a very lucrative business however it’s also very competitive. You’re only as good as the information you provide.
Why should you freelance
Freelancing is the ability to work for yourself instead of working as an employee for a company. Freelancing is a great opportunity to use skills that you already know to make consistent extra money. It allows you to determine your worth by setting your own prices and terms of work. You can make money doing specialized or normal everyday tasks. You already have the skills to be a freelancer, you just have to know where to market those skills.
Types of freelance work
Writing is a great option for freelance work. Freelance writing can include writing blog posts for individuals or companies, copy editing, and even selling short stories. Individuals and businesses are always looking for people who can write well and are dependable.
Graphic design is also another great option for freelancers to make extra money. The internet has created a whole new breed of entrepreneurs who are always searching for unique and proprietary graphics they can use in their businesses. This means they’re always on the hunt looking for graphic artists. You can sell your graphics individually or as packages to those who may be interested.
A virtual assistant is someone who assists an individual or an organization remotely by answering telephone calls, preparing correspondence or doing other business-related functions in a virtual setting. Virtual assistants make great money and are also able to set their own prices and hours. In the world of digital technology people are always looking for professional individuals that can handle working in a remote environment while still delivering the same level of professionalism expected in traditional office environments.
Voice over artist is another option that many people don’t think about but is a great way to make extra money as a freelancer. People are always looking for someone with a good voice to speak and say words for a particular product, promotion, or some other project. You can set your own prices and determine what projects you will and will not take. This type of work could lead to a variety of future opportunities in voice work beyond what you’ve ever imagined.
How to start freelancing
The best way to get started as a freelancer is to create an account online through the multiple freelance websites available marketing your services or information for sale. Freelance sites such as Fiverr, Upwork, and Freelancer, are great platforms to provide your services. You’re able to set your own prices and even tier the pricing of the work product that you plan to deliver. The flexibility allows you to determine how successful you want to be.
What is a digital product
A digital product is anything that you can sell virtually. A digital product has no physical equivalent and can only be accessed online. Digital products are accessible through electronic devices like smartphones, tablets or laptops. Digital products are things that you come into contact with everyday. Your favorite game? That is a digital product.
Why sell and create digital products
Creating and selling digital products is one of the easier options to make money selling information you already know because digital products are easier to distribute than physical products. People can buy your digital product from anywhere in the world and you don’t have to worry about shipping it to them or keeping track of inventory. All you have to do is stay focused on creating really good content that is valuable to your audience and you can make money.
Digital products can be created at home on devices that you already own or require minimal investment to develop them. Once you create a digital product you never have to worry about running out of it. As long as you want to sell that product you will be able to if other people find that information valuable.
Types of digital products
Digital products come in many formats and sizes. Each audience has a preference for certain types of digital products. Examples of a digital product include e-books, podcasts, video, graphics, audio, and music.
E-books are a simple way to provide useful information in a simple and easy format for the creator and for the reader. An e-book is something you can do in a matter of a few hours and make it available online and start making money. It doesn’t require any expensive software nor does it require you to be an expert. As long as you possess valuable information you can create a course and provide it in a digital format such as a PDF or PowerPoint presentation for sale..
Podcasts allow you to record an audio or video about a specific subject and sell it. Podcasts can be priced whatever you choose. You could set up your podcast to be subscription-based to include an automatic recurring monthly payment from your subscribers for a new podcast every month. It’s a good way to have a recurring and consistent income while also having content that you can re-purpose and use to make money at any time.
“Once you create a digital product you never have to worry about running out of it. “
Videos and graphics are always in high demand due to the large amount of entrepreneurs online. Everyone is always looking for really good video and graphic material for their brands that set them apart from their competition. You can create videos and graphics you can sell to individuals and businesses on either an as needed or recurring basis.
Your personal knowledge and experiences can be very valuable to others and you should never assume that what you know has no importance. Life experiences and the information that we have gathered over time allows us to create unique digital products that others may want to buy. Use what you know to earn an extra consistent income. It’s one of the easiest and most obvious ways to make extra money.
When you begin to learn something new, use it as an opportunity to make money with your new knowledge and experiences. There is someone else out there that wants to learn what you just learned and your perspective and ability to teach it in another way may actually be very profitable for you. Everyday everything we learn is an opportunity to monetize and make money consistently.