12 Essential Mindsets You Need to Monetize Your Knowledge

Have you noticed how it’s often the smartest people who have the most self-doubt? Their thoughts prevent them answering their calling to create something valuable to share with the world. That’s a tragedy. To succeed as an information entrepreneur you need to have the correct mindset. The good news? Old, unhelpful thinking can be overcome and a new, more helpful mindset can be planted in its place.

What thoughts are stopping you creating?

  1. “It won’t work”.
  2. “Other people are already doing it”.
  3. “I’m no expert/other people know more than me/I’m nobody”.
  4. “I could never do it as well/be as good as X”.
  5. “I need to learn more before I can start”.

Guess what? All these reasons come down to one thing: fear.

Overcoming obstacles and developing a success mindset

  1. Tell yourself it’s possible. Do you find yourself saying, “This won’t work”? Assuming you’ve done your research and can identify a market for your idea, this is fear, laziness and/or lack of motivation talking. Fear can be overcome by taking action; laziness and low motivation means you’re working on the wrong thing and need to find something else. Don’t settle. This isn’t a touchy-feely plea but a practical reality: unless you enjoy what you’re doing, you’re not going to produce the quality or quantity necessary to succeed in this business.
  2. Create something the market wants. You can remove all the fear and uncertainty if you create something you know the market is hungry for. A lot of stress and frustration comes from uncertainty (“Will people buy this? What if they don’t?”) and trying to persuade the market to buy something they never wanted. This business isn’t about creating needs but fulfilling them.
  3. Competition is a good thing. Other people are doing what you want to do? That’s great news, really. Competition shows there is money to be made. You should be concerned if you find no one doing what you want to do. We like what information entrepreneur David Siteman Garland has to say about this, “There are lots of cookbooks and lots of chefs”.
  4. You can always learn new things. It’s sad how many people believe they cannot change. You don’t have to stick with an industry or a market or even a life you have no interest in. You have the ability and, through the Internet, the resources to reinvent yourself and do something that resonates with you. If you find yourself on a path you hate, stop. Make a new path. Thousands before you in similar or worse situations have done it and are doing it.
  5. Take consistent action. Keep moving forward. If you stay still too long, fear will find you. You will start to doubt your ability and your goals. A negative thought will start to take hold urging you to quit and stay small in your comfort zone. Stop. Start taking massive action. Build momentum. Set small hourly goals so you can see you’re making progress. You’ll be amazed at what consistent, determined action will accomplish. It’s how multi-million dollar businesses are built. It’s a superpower available to all of us. “Dream big. Start small. Act now” – Robin Sharma.
  6. Accept your mood. Don’t follow your mood down the rabbit hole. Your mood is like the weather: some days it’s grey skies and rain; other days it’s brilliant sunshine. On grey days there’s nothing to be understood, nothing to be analysed, nothing to be solved – it just is. And like the weather it will pass. In the meantime put your mood in a box to one side and keep creating.
  7. Learn to be mindful. Mindfulness is in vogue and for good reason. It works. In fact, it works wonders. If you feel sad, lost or worried; if it feels like you’re constantly fighting your thoughts, struggling to find peace, we encourage you to learn more about it. Mindfulness is a practical, secular practice and a hugely useful life skill.
  8. Get things into perspective. Marketing and monetising your know-how is supposed to be fun and rewarding. And it is! If it’s making you miserable, you need to find a new topic, a new market or a new industry. Don’t throw the baby out with the bathwater – regroup; choose a new area you would enjoy; learn something new and try again.
  9. Make more mistakes. Ask successful people how many mistakes they have made and they will say too numerous to count. Mistakes are a sign you’re trying to make things happen. It’s been said that the secret to success is to increase the number of mistakes you make. So your course does not sell – use it as a bonus; no one buys your dress, design a different one not many people attend your course, give yourself more time to sell out the next one. Learn from your failures and move on.
  10. Create more than you consume. Incidentally, this is also the recipe to a happier life, a life that “works”. Spend 80% of your time creating your own products – books, courses, art, cakes, dresses, beer, websites, software; 20% consuming other people’s. Don’t be an info-junkie, collecting useful information but never applying what you’ve learned.
  11. I’m expert enough. “Other people know more than me”, “I’m nobody”, “I could never do it as well as…” and so on. Every expert you see today, every A-lister, every “guru”, started somewhere. You don’t have to know more than the top expert, you just have to know more than the people you’re helping. If you can teach someone who knows less than you, that’s more than enough. And the more you do this, the more your expertise will grow and the more people you can teach.
  12. Forget the haters. Success attracts attention and criticism. If you approach your work from an honest place; if you have the mentality that you will serve others to the best of your ability; if you create with the attitude “I could charge for this” (but don’t) then ignore the critics, you’re doing everything right. Let them live their lives out in front of the TV, achieving nothing but telling others what they’re doing wrong. Pathetic, right? Don’t give these people power over you. In the words of Elbert Hubbard, “To avoid criticism, say nothing, do nothing, be nothing“. We hope that’s not how you will live your life.

Takeaway points

  1. Behind every objection you have lies fear.
  2. Action trumps fear. If you are full of doubt, if you don’t think it’s possible, if you don’t think you can do it take action anyway.
  3. Create more, consume less. Make more things and share them with the world.

Action steps

  1. What content can you start creating that will transform your business? Can you create a course? A one-day workshop? Write a bestseller? Build a portfolio? Interview an expert? Start working on that. See it through to the end. Then repeat the process. The secret to success is that there is no secret. Just work your plan.
  2. Identify something that you have been putting off. What needs to be done? Do you need to build a website? Write copy? Design a landing page? What’s the bottleneck? Instead of overwhelming yourself with the distance of your goal just concentrate on doing the next thing well. Then the next. Then the next…
  3. Today, spend just five minutes working on your product.

Photo credit: Courtney Dirks via Foter.com / CC BY

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