5 reliable ways to make money on your knowledge

1. Counsel others as a mentor

If you have already gone through some experience, you can become a mentor for a person who is just embarking on this path. For example, a startup mentor tells an entrepreneur how to develop a development strategy, assemble a team and attract investors. To the help of mentors resort even successful people. For example, Silicon Valley entrepreneurs Ali and Hadi Partovi mentored Dropbox founders Drew Houston and Arash Ferdowsi. And Mark Zuckerberg called Steve Jobs his mentor.

You can try yourself as a consultant. Unlike a mentor, who cooperates with a person for a long time and leads to a result, a consultant works with a specific request. For example, it helps to write a business plan or develop an advertising campaign. It is not necessary to consult in a professional field. If you are an avid traveler, you will be able to select convenient and inexpensive tickets for clients, draw up a travel program, and explain the intricacies of obtaining visas.

2. Start a podcast

The popularity of podcasts in Russia grows: by 2024, according to experts, 18 million people will listen to them. This is a great opportunity to launch your own audio show and talk about a topic you understand. First, you should look at similar podcasts in the top Apple Podcasts and Yandex Music and figure out what will distinguish you from your competitors. It is important to understand that the broadest topic does not guarantee the largest audience reach. It is better to formulate the area more precisely: not "Podcast about painting", but "How to learn to understand contemporary art."

When you get a permanent audience, you can start monetizing. Some podcasters register on Patreon and offer listeners to reward their work with money. People themselves set the amount of donations - it can be either $1 or $100 per month. Audio ads are suitable for podcasters who have already won the favor of users. It is better to choose ads related to the topic of the podcast. For example, if you broadcast about the history of fashion, it would be appropriate to present new clothing brands to listeners.

3. Open a mastermind group

Mastermind groups gather like-minded people who support each other in personal and professional matters. Each participant talks about their successes and difficulties, asks to share experiences or recommend useful books and courses. For example, entrepreneurs in such a group may discuss problems that slow down business. And people who want to change their profession - drawing up a resume and an interview. It is said that even Benjamin Franklin attended the mastermind group (although it was not called that at the time). He organized Junto Club of 12 people who met on Fridays and discussed issues of morality, politics and philosophy.

A mastermind group usually consists of five to eight people with similar life orientations. The composition does not change from meeting to meeting - it is important to create a trusting relationship in the group. Participants must not compete with each other for projects or clients. Organizes meetings and monitors the atmosphere in the group moderator. If you take on this role, you will be able to charge members a monthly or annual membership fee. Additionally, you can offer paid webinars and other content.

4. Start a blog

An expert blog will help you establish yourself as an authority in the industry. As a result, subscribers will turn into customers, and it will be easier for you to promote other products, such as online courses.

The blog can be run as a standalone site on WordPress or Tilda. There you can create an individual design and publish any content, not limited to the requirements of social networks. But it will take time and money to launch and maintain the site in a decent form. In order for the blog to be found by the audience, it has to be promoted in the search results. The results of SEO-optimization are not quick - they can be assessed in 5-6 months.

Another option is social media. You can start an Instagram page or a YouTube channel in at least one day, and you won’t have to pay for it. But it has its own algorithms for displaying content, so investments in advertising and blog promotion cannot be avoided either. In addition, the sites have their own rules and restrictions: if you publish a post on a sensitive topic, there is a risk of being blocked.

5. Create an online course

It costs money to develop an online course, but then you can earn money even in your sleep. The main thing is to start not with the preparation of the lessons themselves, but with studying the needs of the audience. The course should not just be interesting, but be in demand on the market. Form a focus group and ask the participants what they expect from the training, and then define the profile of your audience. It may be very different from your assumptions. A series of trial webinars will help you get started. They will show how the audience perceives the product, and preparation will cost less than a full online course.

Once the customer feedback has been gathered, the course script can be written, topics and format thought out. Record video tutorials or host live webinars, and give participants exercises and tests to reinforce the material. Place finished content on popular online platforms. To attract buyers, you can offer a free introductory webinar or trial lesson.