The movement towards solopreneurship, in which career-focused ex-employees take control of their economic futures, has allowed us to find opportunities in surprising places – from driving our cars to freelancing our skills.
Now another YouEconomy segment is on the rise thanks to what's between our ears.
Related: Introducing YouEconomy
Sometimes referred to as expert economics, the trend of training, coaching and consulting across multiple industries has grown with the advancement of two main factors:
1. Technology.
Anyone with a smartphone can stream their own show, share their ideas, and answer questions from newbies in their industry. Online course hosting platforms, subscription apps, and messaging bots provide experts with the means to market and make sales.
2. Business outsourcing.
Businesses large and small have recognized the need for continuous growth and upskilling. Rather than relying solely on internal mentorship, they turn to outside experts and consultants for training.
According to a May 2018 report from Civic, there are now 1.5 million experts helping companies with their knowledge and expertise. That's virtually the same number of US drivers for Uber and Lyft combined.
So what's the difference between the Expert Gig and the Independent or Parallel Gig? The biggest is the earning potential. According to Civic's report, experts earn up to $1,000 per hour, likely because they can attract bigger clients with deeper pockets.
Related: 5 serious money lessons for new solopreneurs
According to a May 2018 report from Civic, there are now 1.5 million experts helping businesses with their knowledge and expertise. That's virtually the same number of US drivers for Uber and Lyft combined.
“There has never been a better time for coaches, consultants and other experts to land higher priced corporate clients,” says Jeanine Blackwell, creator of Get Corporate Clients. “The latest spending reports show that companies are outsourcing 60% or more of their custom teaching, facilitation and performance solutions rather than managing it in-house. There are literally billions of budgetary dollars already approved and waiting to be spent this year with outside experts. »
If you want to share your knowledge and make a living from your expertise, consider these tips:
Strategy is key. You can simply install a virtual shingle and start making Facebook Live videos about your expertise. Eventually, people might start paying attention. But then what? Create a strategy that details not only how you will market your expertise, but also how you will make a living from it. "The key to seizing this opportunity is to focus on the problems you can help these companies solve with the knowledge and expertise you bring to the table," advises Blackwell.
You are the mark.
Sure, people are paying for your expertise, but really, they're buying a brand that's you. If you are not well adapted to their culture, your knowledge is irrelevant. Cultivate a brand that helps you stand out while evoking the values you want to represent.
Self-confidence is a must.
You might not like your own horn in everyday life, but if you want to make a living as an expert, you need to be comfortable advertising your qualifications. If you don't tell people what makes you listen,
who will?
You could join forces.
Large companies such as Gerson Lerhman Group, AlphaSights and Guidepoint help companies in need of training connect with experts. The upside is that you do less gig hunting on your own and can build a reputation in the business as a go-to supplier. The downside is that you are associated with someone else's brand other than your own and have less control over your customer relationships.
Experts are always learning.
As an expert, you need to stay on top of what's happening in your industry. This means not only tracking current events that impact your customers, but also tracking innovations that impact your services. The real experts – those who make the big money – don't just share their opinions. They are qualified professionals with years of experience, achievements and even degrees. They continue to take courses, work with mentors, and find other experts in their industry to network and exchange ideas. The more up-to-date you are in your approach, the more valuable your perspective will be.
Aim forever.
When you start offering services, booking speeches, or teaching classes, aim to create something that works automatically to bring you income. This kind of ever-green, ever-fresh content can come in the form of online courses, memberships, or e-books. When you set up recurring marketing for any of these products, you create a source of
passive income.
In YouEconomy, your knowledge and life experience can be your greatest assets. And you don't have to be a business type to get those gigs.
“It's not just business experts such as leadership coaches or productivity experts who attract business clients. 'business,' says Blackwell. “They are experts in all kinds of areas like wellness, nutrition, movement, relationships, communication, writing and more. »
So make a plan and stand out. When you are willing to share your wisdom with others, you can create not only a great life, but also a great legacy.
Related: Why you should join YouEconomy
This article originally appeared in the Spring 2019 issue of LadiesBelle I/O magazine.
