7 Ways to Monetize Your Skills

I am passionate about helping entrepreneurs build profitable brands online and can go long stretches of hours teaching, sharing and helping entrepreneurs build the type of brands others will truly be proud of. As much as I love doing this and devoting my time, it wouldn’t make so much sense if I wasn’t monetizing my skills in one way or the other. That’s what seals the fulfillment that comes with helping others doing what you love while also getting paid.

Most people want to monetize their skills but have failed to do so because they do not know how to go about it. Monetizing your skills is not rocket science and even though it may seem daunting at first, the most important thing is to start. Once you start everything else begins to fall in place. Below are 7 ways you can monetize your skills without breaking the bank.

1. Create and sell online courses: If you have a skill and you know that others will greatly benefit, it’s time for you to start thinking about how to create and sell online courses. Some people have said, they don’t have a platform and here’s me saying you do not need a platform to start selling online courses. It does not matter the type of skill you have – makeup, writing, event planning, relationship counseling, life coaching, catering, graphic designing etc., you can create your course and start selling on Amazon in a day.

[Related: How to Start and Launch an Online Business]

2. Become a freelancer: The internet is the saving grace of the 21st-century entrepreneur and with third-party sites like Fiverr.com, Upwork.com, Hiremymom.com, you can start monetizing your skills at the click of a button without the stress of setting up your own business. You can decide when and where you want to work and decide how much you want to make.  These are great options for you to monetize your skills while also having the freedom to choose when and where you want to work.

3. Start a blog (and register with companies as an affiliate): Have you ever wondered how Bloggers make money? Wonder no more! Bloggers make money from multiple sources but the easiest way they monetize is through to affiliate marketing. For this to work, your blog must be self-hosted focused on a niche or target audience and must have great content that keeps your readers coming back. I started my brand through blogging and I cannot begin to describe the amazing opportunities blogging has brought my way. If you’ll like to start blogging, Bluehost is the hosting platform I recommend because of its one-click WordPress set-up. Other than opportunities that blogging will bring your way, if set up right, your blog can pay for itself and even pay your bills when you monetize it by registering as an affiliate with brands that are related to your subject matter.

[Related: How to Start a Self-hosted WordPress Blog]

4. Start a membership site: This is a fast-growing concept whereby you build a membership site where you can teach your skills to members of the site in exchange for being paid. You do not need a website to start a membership site. You can start using Facebook Groups and transition into a website as you grow.

5. Write a book: This is one of the greatest ways you can impact others while also making a living out of it. Writing a book is not as complicated as it sounds, however, I’ll say it involves a lot of work and dedication to be able to pull this through. Also, before you write your book, it’s always better if you have a thriving social media platform or network where you are already adding value.

[Related: 10 Things You Can Do to Drive Traffic to your Website]

6. Start a coaching business: This is one of the ways I currently monetize my own skills and nothing stops you from doing that as well. To become a coach, you need a deep understanding of your subject matter gained by experience or education or a combination of both and the ability to help your clients get the results they truly desire.

7. Vlogging: There are many people who have built profitable brands by vlogging and in case you do not know, vlogging is sharing your knowledge or teaching others through videos. The most popular channel to vlog is Youtube and you can earn money based on views. Of course, the more valuable the content you share with your audience, the more followers, and views you’ll get. It’s the content that keeps people attracted to your brand and it makes them keep coming back.

As you can see, none of these 7 ways of monetizing your skill involves rocket science. All you need to do is to start where you are doing what you love and work your way up the ladder. Remember, the goal is not to implement all these ideas at once but take one idea, implement it successfully and then move on to the next. If you are diligent, you’ll become financially-independent faster than you ever dreamed or imagined.

Thanks for reading! Do you currently monetize your skills? Which of the seven ways appeal to you the most? Please leave a comment below and remember to share this post with a friend.