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Everyone has something they are good at, including you. By packaging your skills, strengths, and expertise together you can escape the rat race and build the financial freedom you deeply desire.

If you’re waiting around waiting for a million dollar business idea to fall on your lap... you might be waiting forever. You don't need to over think it because you are the million dollar idea you've been looking for. Take an inventory of yourself and narrow down on the key attributes that set you apart and confirm your mastery. Within you encompasses the tools, knowledge, and experiences you need to kick start your success.


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Thanks to social media you don't have to be a celebrity to be known. The way social proof is built has drastically changed over the years, making it easier for your expertise to be easily discovered. To make money through your expertise you must establish your personal brand, build trust with the audience you are trying to reach, and promote it effectively.



Trust is a cornerstone of which authentic business relationships are established. People buy from people they trust! Your personal brand is your identity and credibility. It's the impressions people have of you both in person and online, that will determine whether or not they trust you for the transformation they need.

Once you've discovered your expertise, built your personal brand, and established trust… you are ready to sell!

Here are 4 ways you can monetize your expertise:

Podcasting

You don't have to be the best writer to thrive in the new age of online business. Podcasting is an innovative way to pull in listeners who want to feel connected to an authentic speaker as they assimilate information. Podcasting has been around for some time, but as of recent years they've become increasingly popular. Listeners love podcasts because it serves as entertainment and they can learn so much from just one episode. Digital audio is not going anywhere.


Create a Digital Product

Years back, becoming an author was a long and intensive process that could take 2-5 years. From writing the material, finding an agent, to getting it published…the amount of time and capital required was substantial. Nowadays, there's an abundance of information online to teach people how to sell their own content and self-publish books for much less. You can sell ebooks, online courses, and downloadable prints. There's a lot more options of digital products you can sell without dealing with inventory and pricy overhead fees.


Build an Online Community

Facebook groups, membership subscriptions, and online community platforms are on the rise. The goal of these online communities is to serve a intimate group of individuals who have similar goals, interests, and journeys. Your online community should have a defined purpose, rules, and be a place for transparency. Irrespective of which platform you choose, as the expert in the community your members are leaning on you to learn, grow, and be inspired. It’s also a great space to answer questions, try out different teaching methods, and earn the loyalty of your members.


Speaking Engagements

For many, just the thought of public speaking makes them cringe, but if you embody the boldness and skill set, you can make significant impact through speaking engagements. In the beginning of your speaking journey you might need to pitch yourself to virtual seminars, workshops, conferences and such to gain exposure. You must be willing to put yourself out there, tell your story, and confidently articulate your material. Storytelling is a great technique for making your material relatable and relevant. Most importantly, be cognizant of what topics your audience wants to hear and learn about.

Now is a great time to explore the many ways you can build your brand as a recognized expert. Regardless of what industry and career path you find yourself, these monetization strategies can be the bridging point between you and financial freedom!



Regardless of where you are on your entrepreneurial journey, this post remains valid. These seven things you must do as an entrepreneur are universal truths that you need to know and act upon.

Let's get to it!


1. Conduct Research Consistently

Before getting into any industry it is imperative that you do in-depth research so you know what you’re getting yourself into. Many entrepreneurs bypass research because they don't understand its value, neither do they realize its part of investing into yourself. Well…research doesn't end in the beginning phases of business development. To be acknowledged as a knowledgeable entrepreneur, you must be up-to-date with business trends, innovations, growth opportunities, and how they impact your business.


Learn today.

Learn tomorrow.

Lifelong learning will help with positioning you as an expert.


2. Familiarize Yourself With Business Terminology

You can't hang if you don't know the lingo. There are basic terms that every entrepreneur should be familiar with because it improves communication and enriches your understanding. Prepare yourself in advance for complex dialogue by incorporating business vocabulary into your day to day activities.


This is the part where I tell you, if you can’t incorporate business terminology in the conversations you're having with friends… it might be time you focused on connecting with people who are also developing their business acumen.


POP QUIZ - what is net profit?


3. Create a Business Plan

I think I've said this a billion times, but I'll never stop! Business plans are the driving force of your decisions and the foundation of everything you want to do. Having a business plan proves that you're committed to reaching the milestones you've set in place.


At least start with a draft.


Many entrepreneurs struggle with writing a business plan because it forces them to think critically and analytically. It puts you in a position where you have to answer questions you might not have answers for. I get why that might be overwhelming or intimidating, but that's why there are resources out there for your use and benefit. Whether it's an editor to ensure your writing technique reflects your vision or a financial expert to perfect your projections; the support you need is out there. If you're serious about having a sustainable and profitable business, you'll write your business plan.


4. Nail Your Pitch

Sometimes executing a business idea requires funding. In circumstances where you'll need to raise funding through the support of investors, you'll need to captivate the attention of the investor through purposeful pitching. Part of knowing how to properly pitch is recognizing the value of your business idea and being able to communicate the value persuasively.


After hearing your pitch, an investor should be convinced and interested. As your formulating your script make sure it covers the main takeaways you want your audience to remember. There are tons of examples on the internet of what should be incorporated into your pitch, but remember to execute it in a way that aligns with who you are.


The last thing you want is to sound like you're reading a script. YIKES!


5. Know Your Numbers

This is an absolute must! Knowing where your business stands financially demonstrates whether or not you know your business thoroughly. No one should care about your business more than you. You can display that uttermost care by monitoring your business operations intimately.

As you're tracking your financials, don't forget to measure other meaningful metrics such as retention, customer growth, etc. Indeed, you'll be capable of identifying issues early on and make wise decisions.


6. Get a Coach

The best investments always circle back to the ones you make in yourself. Seek out professional support from a coach who can identify areas of self development and business advancement. A coach should be an accountability partner who monitors your progress while bridging any gaps between where you are now and where you aspire to be. Save valuable time and limit the mistakes you make, by leveraging your coach's experiences. Be mindful of the expectations you set because working with a coach does not mean all of your problems and weaknesses will magically go away. You still have to do the work. You should be leaving your coaching sessions empowered to accelerate your business success.


7. Network

In the world of business, you must be intentional about networking. For some it comes natural, but for others it's a skill that requires extra attention. To build a solid network you'll need to connect with people whose values align with yours. As you're making new connections guard the relationships you choose to open yourself to. The beauty of networking is access. You'll gain access to opportunities, partnerships, and resources.


Diversify your network with established entrepreneurs in the industries you’re trying to tap into and others who are also on the journey to entrepreneurial success.



Which one of these will you get started on today?

Every year when the holidays come around, we tend to focus most of our attention on the gifts and festivities. Holiday season goes beyond that because it's also the best time to reflect, disconnect, and refresh. Your business survived a pandemic and you need to admire that.


Don't be the grinch who kills the holiday spirit and cheer because of a few hiccups. Business culture starts with you; remember that whenever you notice your team morale sinking like a stone. Acknowledge your teams' hard work this past year and encourage them to take time off to spend with their friends and family during the holidays.



REFLECT

Successful leaders take time to reflect on themselves and their business. The holidays are an opportunity to do just that. Think about your business practices, habits, operations flow, and what areas need improvement. Reflect on the business goals you were not able to achieve and how you can tackle them in the new year. As you reflect on your wins and loses from 2020, recognize that you didn't get through it alone.


RECOGNIZE

Recognition is important because it reminds your team that the roles they play is essential to your business success. How you recognize their tireless efforts can come in the form of gifts, notes, kind gestures, and more. Be specific when mentioning the reasons why you appreciate their hard work and contribution to this year's accomplishments.

As you recognize your team and their ability find evolving solutions in the face of a global pandemic, don't overlook the importance of rest.

DISCONNECT

Empower your team to disconnect from low-priority work obligations and relax. Get those "out of office" emails in place and don't let work stress ruin the holidays. Use the down time to mentally prepare for the new year. Your team cannot thrive if they are miserable or burnt-out, that's why you must exemplify rest and encourage it.

Now that you've finished reading this blog post, grab some hot chocolate and go cuddle up with your loved ones.


Chao!

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