Monetizing Your Knowledge: How To Turn Your Knowledge Into An Online Business
Wondering how to turn your knowledge into an online business? In this video, I'll be sharing the different ways you can go about monetizing your knowledge so that you can start an online business and make money online. If becoming an entrepreneur and earning passive income is your dream, stay tuned until the end of this video to learn about ways to make money online by sharing your knowledge.
To figure out the best way to monetize your knowledge, spend some time filling out this quadrant: things you're good at and you enjoy, things you're good at but don't enjoy, things you're not good at but you enjoy, and things you're not good at and don't enjoy. The things you added to the top left quadrant, the things you're good at and the things you enjoy, are how you'll turn your knowledge into an online business.
Once you've selected one of those things, and want to make money online, abandon the 9-5 and transform your side-hustle into a full-time business without spending a dime, you should follow this free sales funnel. A sales funnel is the step-by-step process that someone has to follow to go from visitor to subscriber to customer. This free sales funnel on monetizing your knowledge is made up of 6 steps: 1 create free content, 2 edit your YouTube videos, 3 grow your email list, 4 create a landing page, 5 welcome email sequence, and 6 make money online.
Steps 1 and 2: create free content and edit your YouTube videos. The best place to create free content is on YouTube. Unlike a website or blog, which you need to pay for hosting and for a domain, you can start and grow a YouTube channel with $0 in startup costs. In order for your YouTube videos to become binge-worthy, so that you can grow your audience on the platform, you need to know how to create and edit said YouTube videos.
For step-by-step tutorials on how to start and grow a YouTube channel, make sure to check out my YouTube tips playlist. I'll leave the link to it in the description box below.
Step 3: grow your email list. Your email list is the most important resource in your online business, since you own your email subscribers unlike your followers on social media platforms. You'll mention an opt-in incentive in all of your YouTube videos and add a link to it in your YouTube video description box.
This opt-in incentive can be a worksheet, cheat sheet, checklist, guide, spreadsheet or something else that you can offer to your viewers in exchange for their email. You connect said opt-in incentive to an email marketing platform.
I recommend ConvertKit, which is free up to 1000 subscribers. Although you'll need to upgrade to ConvertKit's cheapest plan which costs $29 / month to gain automation features, you can try it out for free by clicking on the link in the description box below, and manually add your subscribers to sequences until you're ready to upgrade.
Step 4: create a landing page. There are two types of landing pages you need to create: one to house the email opt-in form and another which will act as a tripwire.
A tripwire is an offer you make to someone as soon as they sign up to your email list. This should be a one-time, fast action and high value offer at an oh-my-goodness-I-can't-believe-how-cheap-this-is price, to get your new subscriber to make the transition to paying customer as soon as possible.
You can create the landing page to house the email opt-in form in Wix, which has a free forever plan until you decide to upgrade. You can create the tripwire landing page in Wix as well, though I recommend creating it in Leadpages, which has a free 14-day trial.
The best part is that you can add a countdown timer to your landing page in Leadpages which automatically starts when someone signs up to your email list if you have them be automatically redirected to this tripwire page, so you don't need to do any extra work after you set up the automations (how’s that for passive income?).
Step 5: welcome email sequence. After you've transformed your viewer into a subscriber, it's time to nurture said subscriber with a welcome email sequence.
This welcome email sequence should introduce yourself and your business, and can either be used to promote a higher-priced product or get your subscribers to sign up for a live or evergreen webinar where you promote a higher-priced product during the webinar, as well as with a follow-up email sequence. I recommend the latter since it converts better.
Step 6: make money online. There are a number of ways you can make money online, including affiliate marketing, creating workbook or printables, creating templates, creating tech training tutorials, and creating online courses. You should choose one of these ways to use in your webinar to make sales.
For more details on monetizing your knowledge with these ways to make money online, make sure to watch my video on 'Digital Products to Sell Online for Passive Income as a Beginner'. I'll leave the link to it in the description box below.
If you plan on creating your own product or service rather than promoting someone else's, I recommend using Teachable to house said product or service. Teachable has a free plan, which you can try out for free by clicking on the link in the description box below, which is great, since after you've sold your product or service, you'll definitely have over $39, which is what you need to upgrade to Teachable's basic plan, making your startup cost $0.
For detailed, step-by-step tutorials on how to turn your knowledge into an online business, make sure to check out my Jumpstart Your Sales training. If you:
Don't know the next steps to take in your business to generate tons of leads
Are struggling to hit that next income level to skyrocket your sales
Are frustrated with the time it's taking you to grow so you can finally abandon your 9-5
Want to get your audience to take action so you get more webinar registrants and attendees
Want to build a loyal fan base so you can sell more products and services fast
Then you need to get Jumpstart Your Sales because, among other things, it reveals how you can earn over 5 figures / month while spending $0 in the process, so you can make money online, abandon the 9-5 and transform your side-hustle into a full-time business - all without spending a dime. I'll leave the link to it in the description box below.
If you're serious about monetizing your skills and monetizing your knowledge, make sure to check out our make money online playlist for even more monetization tips and tricks, as well as our FREE cheat sheet with brilliant tools that you should use below this video to learn more about how to save time and boost your productivity in your online business.
Leave a comment below and let me know if you'll be turning your knowledge into an online business, or if you'll keep working at your 9-5. If you liked this video, make sure you give it a thumbs up and subscribe to my channel so that you can navigate the tech side of your online business with ease, and stay tuned for our next video which is about how to sell a product with ConvertKit. As you wait for my next video to go live, check out these two videos I have right here, and I'll see you in my next video.
Wondering how to turn your knowledge into an online business? In this video, I'll be sharing the different ways you can go about monetizing your knowledge so that you can start an online business and make money online. If becoming an entrepreneur and earning passive income is your dream, stay tuned until the end of this video to learn about ways to make money online by sharing your knowledge. So let's get right into how to sell courses online and how to start an online coaching business.
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