Lesson 1: Determining The Skillset That Will Make You Money Online
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Today we’re going to determine what you can grow a business around. To do that, let’s do a simple exercise that will help guide us in deciding what to make your business model about.
The first step is simple. All you need to do is get out a piece of paper and a pen then write down five to ten things that you are passionate about. This could be traveling, making new friends, cooking, reading, etc. Don't think too hard about this one, it should come naturally. Normally, the first couple things that come to mind are the most accurate.
In the next step, we will expand your list to include skills. On the same sheet of paper, create a new list. This should be five to ten things that you are good at or know more about than most people. This could be creating videos, Instagram marketing, photography, graphic design, computer programming, software development, etc.
The most important piece to remember is that you do NOT need to be an “expert”. Many people are hesitant to write down their skills because they don't think they are good enough at that skill for it to be something they could actually make money from.
The reality is that being an expert means that you have experience or some training in that skill. Webster's dictionary defines "expert" as "having, involving, or displaying special skill or knowledge derived from training or experience". Therefore, if you have experience in a certain skill set write it down.
Now that your two lists are ready, take a moment to look at them. Do you see a way to incorporate your passions and skills together?
Be creative. Come up with a few pairings that you could imagine incorporating into a business, being paid to do, making a product or service of, etc.
For example, I love traveling and am good at social media. I combined these and created a website and social brand on unique experiences to do around the world and in New York City. I knew that it was possible to monetize this through ad revenue, creating travel content for brands, affiliate revenue, sponsorships, tour sales, and many other ways because there was an audience for it.
An important thing to keep in mind is that this pairing can be done remotely in some way. This should not limit you too much though. Even the most physical skills can be done remotely. Though I run NYC tours, I have tour guides that can run them without me. This allows me to run the business from anywhere.
For example, Teela loves painting and is skilled at brush lettering. She makes several thousand dollars a month teaching an online course on brush lettering with watercolor. Traditionally, one would think that to make money off of this she may have to set up a store.
Through my travels, I met a nurse who tends to her patients remotely via video and phone calls. This is a great example of how you can make money from anywhere and do not need to feel stuck in a certain location. Technology allows both of these people to use their passions and skills to make money from anywhere. The power of building an online brand through social media allows this to happen.
Choose your top two pairings that you could envision making money from and I’ll see you in the next lesson where we will determine if there is a market for that idea.