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9 Ways To Turn Your Knowledge Into Marketable Products And Services

Cat with ProductsIt’s almost impossible that you aren’t good at something. Everyone has skills and talents. Yes, YOU! If you read that and didn’t need convincing – excellent!

So assuming there is something you are great at – how do you package that greatness up into something you can sell?

Happily there is no need to reinvent the wheel here.

There are some standard value forms you can look to for creating something to sell

1. Service

The easiest form of all – you simply do whatever you are great at for the customer! This is where you look at how you can solve your customer’s problems in the form of a service.

2. Product

You can create an information product to teach the customer your skill.

What format can your knowledge take that is either a physical or digital product? Perhaps an eBook, an eCourse, a ‘real’ book, video or another kind of information product.

How about products that are used in your area of expertise? If you have specialised knowledge about a field are you aware of any shortcomings in products currently available? Could you create a better version? Do you see any gaps in the market for variations or even perhaps something new?

3. Resale

Can you sell on products providing your “knowledge” to help customers make the right choice? Could you create an online shop? Perhaps onsell products that you have specialised knowledge about to certain groups?

4. Shared resource

Is there a way of creating or purchasing something using your knowledge that people will pay for access to? A serviced office space or child play centre are some examples of a shared resource.

5. Subscription

Could you create something or provide an ongoing service that people would be willing to pay for regular access to? A website help desk service for example or continuing access to a set of online courses. A subscription-based service is really great if you want to have a more predictable cash flow.

6. Lease

Do you have something or have the knowledge about something to allow you to buy business assets that you can lease out to others and charge a leasing fee? PA and stage/DJ equipment are assets that can be leased out. Machinery and tools are other examples.

7. Agency

This is where you act as an agent for a service or product. You are the link between the buyer and the seller. Can you broker a service of some kind or do you have links with certain suppliers that you could leverage?

8. Audience Aggregation

If you have an audience of particular characteristics you can charge for access to your audience generally in the form of advertising. This is mainly relevant for established businesses that already have an audience but can be another potential income stream to look forward to in the future.

9. Option

An option is when you sell the consumer the ‘option’ to do something. A ticket to an event is an option. When you purchase the ticket you can go to the event, but you don’t have to. Gift vouchers are a classic example.

 

How do you know which form of value is best for you?

The answer is ‘It depends.’ It depends on a number of factors. Think about the kind of person you are and what you like to do with your day.

Do you want to work with people one on one providing a service, or would you prefer advising people on purchases or setting up deals? Imagine what your day would be like if you chose a particular kind of product or service to sell.

You also of course need to consider the market. What makes sense in your industry?

How can you combine the two to get a good fit? You need to make sure the business fits you and your lifestyle as well as servicing the market.

 

Now I’d like to hear from you…

I hope this gets your brain ticking over on how you can package your knowledge into something marketable.

I’d love to hear about your ideas in the comments below…

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One Response to 9 Ways To Turn Your Knowledge Into Marketable Products And Services

  1. […] to rethink and expand your revenue streams? Take note of these 9 ways to turn your knowledge and expertise into viable products and services (bring on the resales, shared resources, subscriptions, leases, and other often-overlooked ways to […]

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