How to Make Money with Your Skills and Knowledge

Chances are that you know something, or that you have a particular skill. If this is the case, why not monetize it and make extra money?.

Whether you want to make a little extra money on the weekend or start a full-fledged home business, what you know, and what you can do can earn you money.

Identify Something Others Will Pay For

Your first step to making money with your skills and knowledge is to figure out what you have that others will pay for. Do you have some knowledge that others might want? Are you good at something that others might want to be good at?

Think about your talents, and what you know. If you are a good musician, there are likely others who would pay you to share your knowledge of how to play an instrument. If you have good woodworking skills, someone might pay you to build a piece of furniture (we recently paid a local woodworker to build us a custom bedroom set).

Consider what you have, whether it’s a knowledge of web design, an ability to knit beautifully, or the ability to tutor others in difficult math concepts. Think about what you can offer. Chances are that someone is willing to pay for what you know — in one form or another.

Deliver Your Product or Service to Others

Once you know what you have to offer, it’s time to deliver your product or service to others. The great thing about selling your skills and knowledge is that there are a number of ways that you can convey what you have to others. Here are some ideas for effectively selling your skills and knowledge:

  • Teach lessons or classes: You can offer lessons to individuals, or even teach on a class level. You can put out fliers or use word of mouth to let others know that you provide one-on-one lessons. If your town has a community education program, you can offer classes to small groups of interested students. Offer seminars or workshops as well.
  • money makingConsulting services: Act as a consultant to local companies or others. If you have a green thumb, offer yourself as a garden consultant. My husband has acted as a survey design consultant, as well as a statistics and analysis consultant. You might be surprised at what others need consulting help with, from public relations to social media to web design. Along with this is the idea of freelancing. If you are involved in something that you can sell as a service to others, consider freelancing on the side.
  • Write a book: Share your knowledge in a book. If you can present information in a compelling way, you could earn money from the sales of your book. You can receive royalties if the book is published by a more traditional company, or you can self-publish an ebook or self-publish to Amazon and keep more of your money.
  • Start a web site and/or blog: If you want to share your insights and knowledge with a wider audience, you can start up a web site or blog (or have both). You can share tutorials with those who want to learn how to do something you are good at, or share your expertise on a subject. As your traffic grows, and as you are seen as a trusted resource, you can earn money from advertising and affiliate programs. If you are interested in starting your own blog check out our sister site How I Make Money Online for tips and register for the free course.
  • Sell what you make: If your skills are more focused on making things, you can sell what you make. Set up an online store, and then sell your wares. Your skillfully made product might be worth a lot more than you think to some people. If you want to start your own online store, check out Steve’s course on Running A Profitable Online Business.

It’s important to understand that setting up a way to make money from what your skills and knowledge doesn’t happen overnight. None of these paths are particularly easy to follow. You have to dedicate time and effort if you want to be successful at making money with your skills and knowledge. With the right plan, and some persistence, though, it’s possible to make monetize what you know.

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Comments

  1. says

    I have been racking my brain trying to figure out what I can actually do other than what I do at work and it is entirely possible that I can’t do anything. Let’s hope Tim Horton’s will let me pour coffee for my extra income.

    • says

      ahah we all have a skill that can earn us a bit of $$….just need to be creative.

  2. says

    These are all great ways to make money online. I’ve been actually thinking about opening an online boutique, but there is so much to learn with that!

    • says

      The other option is to focus on doing what you do best, and improve it if it adds value to your clients. Get other people with skills on web design and marketing online to do those jobs for you. If you have great ideas, there is help available to make those ideas a reality. Websites like elanace.com, odesk.com and vworker.com have skilled people with good track record that you can hire.

  3. says

    Teaching is definitely an overlooked side gig. If you are really good at something, chances are someone will pay you to teach them. A lot of people in my field teach night courses for universities / colleges. Teaching languages on the side is another great option for those who speak more than one language. If you can line up a few students you’ll build up a nice little income stream.

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