“Let me pick your brain” – This is an idiom that implies asking for someone’s advice about a subject the person knows a lot about.
You can actually stop picking someone’s brain and monetize yours. When you talk about monetizing your knowledge, it means creating wealth from the product and services you have created as a solution to a critical problem in the market place.
You have acquired this knowledge either through education, exposure or experience. So, monetize it using the following steps;
- Discover and Develop Your Knowledge (Be Skilled): Being a professional in a particular field entails discover what your strength and ability is. This goes a long way to unravel your unique talents, passion and abilities. When you have discovered that, taking professional development courses goes a long way to sharpen and expand your skillset.
- Discover your Target Audience: Analyze your product and services and figure out the benefits they offer. When the benefits have been figured out, list them out and know how the benefits are useful to your intending audience. By doing that, it gives you a clearer picture of who your right audience is, either through gender, age, income, education or localization.
- Discover the Problem of the People: When you have discovered your target audience, it’s now time to find out the problem these people are going through. Find out their problems through storytelling. Tell your story, surprisingly, you will be wowed at how many of them are currently going through what is in your story or they have been through that in the past. By telling your story, it allows them to also tell their story. When their stories have been told, their problems have been figured out. It is now up to you to coach them and solve their problem through your product or service you are going to render.
- Develop Product and Services: This is the solution to the problem. Create a digital product or service that will solve the problem of your audience. Create a book, a broadcast, a video, organize paid webinar sessions do virtual classes/training, put a report together and sell it, collaborate with speakers to speak at a different event, organize coaching session, do email marketing to sell to people.
- Design the Package (Branding): Your product and your brand work side by side. Invest in your brand. Developed countries are concerned about your content while developing countries like Nigeria, are concerned about your packaging. So, it is very important for your packaging to align with the content for you to be able to sell well.
- Determine Your Platforms/Promotion: One platform that allows you to sell your knowledge online is social media. The platform gives individuals the ability to set up courses online to share their knowledge and monetize it as well.
- Determine Your Price: This is the most difficult part for most people. Pricing has to do with lots of indicators in order to determine why you are costing at a particular price.
Transform your learning into execution. Learn it, do it and then sell it.