Sharing knowledge demonstrates expertise 😃

Most businesses sell products or services on a one-off basis. For example, a customer can purchase a pair of sunglasses or arrange a landscaping visit to their home.

These sales are great for each business, but they’re one-off sales. For each sale, the product or service needs to be provisioned. This could be as simple as packaging an item and mailing it to the customer. Or it could mean a visit to the customer in order to carry out the service.

There’s an opportunity for almost every business to create an additional revenue stream by choosing to share their knowledge.

Your first thought when you read the sentence above could be fear. If you tell everyone how to do something, won’t they stop spending money on your business?

Choosing to share your knowledge actually goes way further than this. It demonstrates your expertise clearly and it can help to increase your positioning in your marketplace.

You could be the business owner who teaches and delivers value through education. Or perhaps you provide pre-packaged products that help your customers to achieve a specific result.

Let’s look at an example…

Ardhi is a mechanic and owns his own garage. He services and repairs his customers’ vehicles. Raining season is pretty bad in his location and his customers struggle sometimes.

If Ardhi wanted to set up an additional revenue stream, he could offer a “Raining Season Survival Guide”. The guide would be made up of a short series of videos and a downloadable PDF checklist.

Ardhi’s product can be sold to all of his customers and it will help them to look after their vehicles each rain season. Even better than this though, Ardhi only needs to create it once.

That’s the great thing about sharing your knowledge. You can create a digital product (guide, book, checklist), a video course or even a membership platform. You only need to create the content once, but you can sell it many times over.

Best of all - this works with almost every industry. You just need to think about the typical problems that your customers struggle with.

What can you create once and sell many times? What will help your customers to solve a problem?

Finally, let’s talk about the selling aspect too.

Yes, it does take a little bit of work to set up a digital product or a course. However, this comes with the benefit of being able to sell that same content many times.

Instead of creating the content first, you can choose to sell first. You’ll do this through what is known as a “pre-sale”. Your audience and existing customers can purchase at a discounted price before you create anything.

Once you have enough pre-sales, then you go ahead and create the product. Your costs are paid for through the pre-sales. Plus, the pre-sales proved the concept and showed you that it was a great idea that your audience wanted.

Sounds pretty good, right?