22 Ways to Monetize Your Expertise Without Selling Your Time

Of course, everything worthwhile requires time to create initially. What we describe here are monetization channels which, after the initial investment of time, will:

  1. Generate passive income, or
  2. Generate returns far greater than their effort (e.g. five-figure speaking engagements, six, even seven-figure podcasts), or
  3. Generate attractive returns with minimal ongoing effort.

22 Ways to Monetize Your Know-How

How can you monetize your know-how to free yourself from selling your time and allow you to build a passive-income freedom business to support your lifestyle? Let us count the ways…

  1. Create an online course.
  2. Create an information product, e.g. a downloadable guide, report, solution to a problem.
  3. Start a blog. (Use a blog as an audience-building tool rather than trying to monetize GoogleAds, say. Once you have a large audience, selling your own products or affiliate offers can be extremely lucrative.)
  4. Write a book
  5. Start a podcast
  6. Start a video channel on YouTube or Vimeo
  7. Build an online store selling your products
  8. Produce a video training series.
  9. Start a digital magazine
  10. Build a membership website
  11. Syndicate your expert content
  12. Build an app
  13. Create software
  14. Organise an event
  15. Offer coaching
  16. Build a web service
  17. Create and sell WordPress themes
  18. Build an authority website
  19. Create an industry body
  20. Speak at events
  21. Run webinars
  22. Outsource your service

Takeaway points

  1. If you want financial independence, stop selling your time. However good your hourly rate may be you will reach a limit of what you can earn.
  2. It makes more sense to leverage the tools and opportunities the Internet gives us to create assets that generate a a passive-income.
  3. Find ways to replace selling your time with creating assets that generate a passive income. (You’re having to work anyway, so work on developing time-independent revenue streams).

Action steps

  1. Commission a WordPress website with an opt-in form. You can have one built from $100 on Upwork.
  2. Choose one monetization channel to work on and start creating your product in that medium.
  3. Promote your offer to your target demographic using Facebook. Direct them to your website where they can download your product (paid or free, you decide) in return for their email address. The goal here is to start building your audience.

Photo credit: Images_of_Money via Foter.com / CC BY

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