I asked in my Facebook group, The Wedding Vendors Community, “What do you consider yourself to be an expert at?”
We had so many good and funny answers.
Of course many of these skills are being monetized in their respective businesses.
The thing about thinking outside the box a little, is that all of these skills can be monetized into passive income.
Either through a membership or subscription based aspect, or by selling templates, or even having a product or being an affiliate for a product that aligns with it, or in many other ways that we can discuss more in depth on a future episode.
As you can see, just taking one simple thing that you’re an expert in, whether it’s your current business or not, can expand into being so much more.
If you’re listening to this and thinking that you’re not an expert in anything, that’s just not true. You’re an expert at something, we all are.
Even if you can think of something tiny, like the “making macaroni and cheese” example, that can be the most effective!
I know someone who has built a very lucrative and huge membership about making candy apples, same kind of concept.
There are about a million ways to make macaroni and cheese that you could teach about, and seriously who doesn’t love mac and cheese?
I mean, this topic alone could go on and on, and the audience size has crazy big potential.
There's so many content possibilities:
Noodle variations, best cheeses to use, ways to top it, add-in varieties, gluten free options, vegan options, low carb options, cooking techniques, ways to include macaroni and cheese into creative other foods, see how one little thing can go on and on and on?!?!?
I mean, it could even be something you teach to an every day consumer, as in what’s for dinner, or to a business, as in adding it to your catering menu.
I did a little research and the person who commented that she’s an expert at making macaroni and cheese is a photographer.
See how that works? It’s so much fun and there’s seriously so much revenue to be generated from it.
This mac and cheese example could be a membership with a community, a blog that has partnerships with products that pay a commission, and even sponsor posts that use their products, the possibilities are literally endless when you think about it.
Brandon Hosley is in our mastermind group, and he’s the one who mentioned that one of the things he’s an expert at men’s clothing.
Brandon makes custom suits. First of all, that’s amazing.
Second of all, it’s a topic that people fascinated about.
I spoke at Colleen & Mark Wheeler’s WE Summit last fall, and so did Kevin Bailey, with A Smith Clothiers.
He spoke about suit etiquette.
It was fascinating! It’s a topic that you might not think is, but he had the longest and most engaging and interesting Q&A.
Questions about how to button and unbutton a jacket when standing, sitting, and I don’t even know when else the etiquette calls for, but there’s a reason for each of them... and so many more!
Like I said in the last episode, my friend Stu McLaren says, “You don’t have to get it right, you just have to get it going.”
This really means just start, because analysis paralysis and perfectionism is a very real thing that keeps us from getting it going.
Here's your hot tip/action item:
Think about one thing about your business that you could monetize in a passive and recurring way (passive and recurring can be used interchangeably), using the examples we went through here.
Now write it down and set a timer for 10 minutes brainstorming it.
I’m always available if you want to check in with me and take it a little further. Just shoot me an email at friends@letsbookclients.com.
