If you are ready to turn what you know into a profitable business, you’re on the right path. It may not feel like you are, but just by reading this information, you are taking the first step. And believe it or not, every step or milestone is indeed progressing. This post is designed to help you brainstorm ways to turn your knowledge and expertise into a profitable business that not only offers good income but if you work smart, time and freedom too.
If you want to be able to work from home and spend more time with your family, start a side hustle, or you just don’t want to work in the corporate world any longer, using your expertise – the knowledge you have already – is the fastest way to get started. One thing that you are soon going to realize is that you don’t have to know everything, so don’t let the word “expert” frighten you.
You do not need to be the foremost expert in the world (or even your state) on the niche to be prosperous. The truth is you only need to know just a couple of levels up about the topic than your audience knows in order to create a thriving business with a long life.
Your First Steps
Here are the first steps required to figure out your expertise, find your audience, and create products and services that will thrill your target audience and provide you with an income for as long as you’re willing to keep going.
1.Make a Big List – Get some paper and just start writing down your skills. What have you done in the past at work, as a volunteer, and so forth in your life that you really enjoyed doing and are good at doing that other people might want to know how to do?
2. Ask the Right Questions – Even if you are good at something, you might actually hate it and not want to do it. Therefore, it’s imperative that you ask yourself the right questions so that you know you really want to do that thing for a long time before you get started. For example, if you are currently a bookkeeper, but you dislike it, don’t try to be a bookkeeper for someone else. Instead, you might want to teach others how to find the perfect bookkeeper, or you can still show how to start a bookkeeping business even if you don’t want one.
3. Ask Your Friends & Family – If you’re not sure what you are good at, ask friends and family what they think you’re good at. Be sure to ask supportive family and friends and not your haters, which can even be your friends and family. You want positive feedback – no haters allowed.
4. Take a Personality Test – While many people don’t believe personality tests are really accurate anymore, the truth is, they can still help give you ideas about what you might like to do. Take a test and then use it as part of your decision-making process.
5. Hire a Life Coach – One way to get a bigger picture of your expertise is to find a coach that specializes in helping someone figure out how to use their skillsets to create multiple income streams (like me – here’s an application for a free consultation). This is likely one of the fastest ways to figure it out.
6. Know Your Strengths & Weaknesses – Don’t be too hard on yourself, but it’s always good to be honest with yourself about your strengths and weaknesses. Oftentimes, it can be difficult to point out our weaknesses. We all have flaws, and it’s okay. Likewise, it is okay to be good at something and admit it, or even shout it from the rooftops. We have to get better at being able to do that.
7. Narrow Down Your List – Once you have a working list, start marking off things you don’t like or don’t want to do. Sometimes it can help narrow down the list to take the topic and quickly write down a few money-making ideas associated with it that you can envision before making a choice.
This exercise will get you to where you need to be as someone who is just starting out and exploring options. When you understand the truth about yourself, what you can do, what you don’t want to do, and what you need help with, you’ll do much better at serving your audience with honesty and transparency because you realize you do not have to know everything. Just enough for your audience to learn something and be successful – that’s the start of a successful business venture. You’ve got this… Keep going.