We all want to be the person everyone turns to when they need help with something, especially when it comes to our expertise. But what makes some individuals freelance experts in their field? The answer may surprise you! 

Expertise isn’t just about how much you know about your topic. But, how well you can communicate that knowledge and deliver results people appreciate and find useful. 

If you want to know how to monetize your assets as a well-known expert in your field, read this post. It reveals how you can monetize your expertise into your business strategy today!

Provide consultation

Though several perks come with being well known, experts are generally compensated for their time and expertise. So if you’re well known in your field, it may be worthwhile to consider starting a consulting business. 

Experts can charge anywhere from $200/hour depending on experience and reputation. But, more established experts tend to charge more. 

For example, well-known experts in Artificial intelligence or quantum computing like Ajay Malik charge as high as $1000/hour for a phone consultation. 

Also, if you’re well known in your field, it may be worthwhile to consider starting a coaching business. 

Coaching is similar to consulting, but coaches charge for individual sessions instead of charging by the hour. For example, suppose you’re a personal trainer looking to make money online. 

In that case, you might start an online personal training business. You can offer video consultations and exercise routines over Skype or Google Hangouts.

Offer Books or courses

While a well-known expert in your field can make money through one of these activities alone, most experts choose to combine several income streams. 

For example, James Altucher has built an impressive portfolio of business by combining his podcast with his courses. His podcast offers free content while he sells access to his courses (where he teaches more in-depth). 

Another example would be Ajay Malik. Malik does not only offer free and paid call consultation but is also he is also an author in his field with books on RTLS For Dummies, AI for Wireless Networking, and Augmented Reality for Dummies. 

It’s about creating multiple income streams with your assets as an expert. 

Have an Online Presence 

If you’re trying to make money as a well-known expert in your field, you first need to have an online presence. It doesn’t matter if it’s a website, a Twitter account, or an Instagram profile—having some form of internet presence will allow you to connect with others and be found by your target audience. 

This is especially important because having an online presence often makes someone credible enough to charge for their expertise. The better your reputation, the more likely people will pay for your services. 

That said, don’t expect that people will start paying attention right away just because you’ve started building a following on social media. 

You need content that can catch their eye and convince them that you can help them solve their problem or achieve their goal, which is why we recommend investing in a platform like 30mins.com to connect easily with experts.   

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