Monetizing your knowledge, content and expertise is an important aspect of business. The successful businesses and entrepreneurs that I follow, and have been coached by, all have one thing in common. They create multiple streams of income, and these income streams are directly related to their knowledge and expertise.
The beauty of having multiple streams of income in your business is that if one part of business is slow, there are other sources of revenue keeping your business afloat. More importantly, passive income streams keep your business running smoothly.
What are examples of passive income?
There are many. Some businesses have created products as their passive income streams such as special reports, video series, how to ebooks and manuals, audio programs, home study classes, to name a few. Other businesses create expanded services as a passive source of income. And some create joint ventures or formal collaborations as a form of passive income.
How could you turn your knowledge, expertise and content into cash?
Check out the article I wrote that was published by Entrepreneur Mom Now Calgary... there are some great tips about how to do this:
http://www.entrepreneurmomnow.com/calgary/2013/content-into-cash-turn-what-you-know-into-a-book/
Great article!
ReplyDeleteThere is nothing better than reading about success stories when it comes to people profiting from their own skills and talents.