5 Ways to monetise ANY skill in 20 minutes

Summary

In this video, the speaker shares a proven method to monetize any skill, emphasizing it's not about the skill itself but how it's packaged and sold. They debunk the myth that only specific business models work, highlighting the importance of market choice, offering a clear and compelling service, and building a strong personal brand. The speaker, who has successfully monetized their own skills, provides practical steps to transform any skill into a lucrative business opportunity.

Takeaways

• 💼 The presenter emphasizes the importance of packaging any skill as a service to increase its market value.
• 💡 Skill stacking is introduced as a strategy to combine multiple relevant skills to enhance the overall value of the service offered.
• 📈 The market in which a skill is sold significantly influences its perceived value, with the presenter suggesting targeting high-demand markets.
• 🎯 The distinction is made between convenience-based and results-based skills, with a focus on the latter for higher monetization potential.
• 💰 A compelling offer is crucial for attracting customers, acting as the 'front door' to the service being provided.
• 📊 The presenter shares their personal success, using their Stripe dashboard to demonstrate the revenue generated from monetizing their skills.
• 🔍 The concept of 'skill perception' is discussed, highlighting how personal branding and online presence can impact a skill's marketability.
• 📝 The script suggests that skills do not have inherent value but are valuable based on the demand and utility in a specific market.
• 🚀 The presenter encourages continuous learning and improvement of skills to quickly become competent enough to offer them as services.
• 🌟 The importance of delivering a result through the service is stressed, as clients are more likely to pay for tangible outcomes.

Q & A

What is the main topic of the video?

The main topic of the video is how to monetize any skill one has, with the speaker sharing their experience and providing a step-by-step guide on the process.

Why does the speaker begin by showing their Stripe dashboard?

The speaker starts with their Stripe dashboard to provide proof of their success in monetizing skills, thereby establishing credibility and giving the audience a reason to trust the advice they are about to receive.

What is the speaker's business model according to the script?

The speaker's business model revolves around one-on-one mentorship and education programs, rather than selling courses. They work closely and intensively with people to help them monetize their skills.

How long has the speaker been monetizing different skills?

The speaker has been monetizing different skills for about 3 years.

What is the first step the speaker suggests in monetizing a skill?

The first step in monetizing a skill, according to the speaker, is to package the skill into a service that offers a transformational outcome for the client.

What is 'skill stacking' as mentioned in the script?

Skill stacking is the process of combining a core skill with other relevant or similar skills to create a more valuable service. For example, combining automation with lead generation to create an automated lead generation system.

Why is choosing the right market crucial for monetizing a skill?

Choosing the right market is crucial because the value of a skill is determined by the demand and need within that market. The same skill can have different values based on who it is being sold to.

What is the difference between convenience-based and results-based skills?

Convenience-based skills save time or effort for the client, while results-based skills directly generate a tangible outcome, such as increased revenue. The speaker advises focusing on results-based skills because they can command higher payments.

Why is crafting a compelling offer important for monetizing a skill?

A compelling offer is important because it acts as the 'front door' to the service, attracting potential clients. If the offer is not clear, inviting, or valuable, clients may not be interested in the service itself, no matter how good it is.

How does the speaker suggest improving people's perception of you to help monetize your skills?

The speaker suggests improving people's perception by building a personal brand and creating content that showcases your expertise and personality. This can make people more inclined to buy from you because they are buying from a person they like and trust.

What is the speaker's stance on the necessity of having a specific business model to monetize skills?

The speaker believes that it's a misconception that one needs a specific business model to monetize skills. Instead, they argue that any skill can be monetized by packaging it into a service and selling it in the right market.