"Knowledge is the new currency" He said. I could not agree more.
He was making over a million dollars every week, by implementing the strategies he was teaching. He was the living proof of it.
Last year, I spent a lot of time to observe and learn from multi-millionaire mentors I met, like Russell Brunson, Tony Robbins and T Harv Eker.
I saw the fact is absolutely true.
There was one common trait in all of these people. They all were Knowledge-preneurs.
As someone who is living with the dream of teaching others and making money online, I badly wanted to learn this.
That was the time when I was facing many challenges
- I was confused what exactly I want to do
- What will be the right business model to pick as there were many gurus giving confusing advice
- How to make consistent income online with the skills which I already have.
But one thing is clear. Once used in the right way, your knowledge is one of the most powerful assets you have.
In this article, you will discover the step-by-step path to become a "Knowledge Entrepreneur". You will also find how I personally implemented these strategies and became a location independent within six months.
If you are a business owner, trainer, consultant or freelancer, the following guide to Knowledge Business can be your one ticket to a wealth and prosparity.
I have been in the knowledge industry for the last five years as an affiliate to other products, blogger, and now as a coach.
One of the biggest mistakes which most people who are starting do, is to spend huge money on learning from highly successful people. The problem is, even though, their advertisement is effective, everyone talks about how they changed their life. In reality, they don't have time to help you in person.
Instead, the smartest way to grow faster is to build a mastermind together with the person who is just before you. He has the willingness and time to genuinely help you to grow and succeed.
Now, let me walk you through some of the ways to make use of your knowledge for business:
4 Ideas to Start Your Business from Your Knowledge
If you are interested in selling Kindle books, here I have found a great course from my friend Stefen. Use this link to start
If you want to leverage the power of online courses, I am organizing an invite-only workshop for my subscribers. You can join the invite-list and get notified when I go LIVE.
How to Start Your Knowledge Business
The very first step of starting your knowledge business is, finding out a niche.
Imagine this! If you are offering advice to others or you are writing about something on your blog, you are already doing a knowledge business. But the problem is, you do NOT have a revenue model which can make it a business.
Think about, how had you helped someone to solve a problem. It can be a life problem, or business problem. Or maybe communication issue... Or anything. We all have something we can share with the world.
While building the Funnel Mantra, This was my goal. I wanted to help people to create a backbone.
But it all starts with finding out a highly targeted market AKA Niche market.
To understand, how to find your niche for this "information business", you need to understand the idea of Laser-targeting.
Laser-Targeting Your Niche
For example, you are good at digital marketing. You can say, "I will target every business owner because they all need my service".
But to get more success, you should go a little narrow. So, instead of saying, I am a digital marketer, you can say, I am a "Digital Advertising" expert in Real-estate industry.
Now... Even though you will not get enough traffic as you are in a highly targeted niche, you will have two certain benefits.
- You will see more conversions happening. That means you will make more money out of your coaching or consulting business.
- Second thing, It will be easier for you to establish in this market as you will not have the high crowd.
In this old video from 2019, you can understand the system to find your knowledge business niche.
Once you go beyond niche selection unlike many, the next step is to build a system.
As a knowledge-preneur, you need three kinds of systems in place.
Three Critical Systems for Success
As I always say, trust is your invisible transaction. Your customers love to spend money, but they are afraid to buy "from you" because they don't know if you are the right coach or not.
So, you need to develop a system to build trust.
One good way to build trust is by starting your own blog.
You can get an instant complete blog from A2Hosting and start writing. For example, this is my blog. Here I build trust and let other people know about what I do.
It's different from writing on social media because you don't own social media channels. They can change any time without your will.
As you will build your trust, you also need to have a conversion system in place. That means a system to make your readers and viewers your prospects. So, you can approach them later.
You can use Email services like Getresponse (link here) to ask for people's email addresses.
Cool part! They provide free training for a lead generation once you sign up with the above link.
As it will take time for your readers to learn more about your brand, it is a critical step for building your Knowledge Business.
You can invite people for your session, send them emails regarding your new products and connect at a deeper level once you get their email address. This is the strategy we also implement inside our Digital Tribe.
As your business grows, you also want to create a monetization system to generate ROI. i.e. Return on investment.
You can monetize your skills and passion with the help of your own digital products. It's simple and easy to follow.
You can create your "Online courses", "sell kindle eBooks" and sell your high-ticket coaching to monetize your knowledge.
Once you decide on how you will monetize, you will see that every effort you are putting in your business is becoming a "money generating" activity.
As they say, there are two types of activities in business.
- Activities which are important but not money generating
- Activities which generate money
Marketing and sales are the only two activities which bring money. This is critical to make a business that helps you to leave a better lifestyle.
Creating a Facebook page, website and other things are also important but you can work on slowly.
What to Do If I Don't Have A Product Right Now
One of the best things about starting your knowledge business is, you don't really need any product in the beginning.
So, let's say, you have an expertise or skill but you are not sure whether you are confident about creating your products or not, there is a better way to do it.
And that is... by selling other people's product.
You can go to places like Clickbank and Four percent where you can find hundreds of courses to promote.
I personally went through many programs inside Fourpercent and I was blown away with the quality of their quality.
Special sign up link for Four percent (It's free)
You can take your own skills to the next level, master everything you need to learn about Internet Business and start promoting their courses as well.
Inside the platform, you can find programs related to Wealth, leadership, Affiliate Marketing and what not.
Vick, the founder of four percent was the guy who helped me to shift my money thermostat. I saw major difference in my personal and professional life after going through Success Challenge from Four Percent (FREE Masterclass).
The Next Step
You have the power to change everything around you. You may be going through a little bit hard phase in life, but you are the one who has read this article till the end. You are someone who is in 2% of people who really take things to the end. You deserve to be successful.
The only thing you need is the right strategy and right environment.
Knowledge is the new currency. Use it to change your life and the lives of people around you. You don't know whom you can help with your expertise.