Here's what we know, so far:
- Your expertise lies in the things you know so well you don't even think about them.
- Once you can acknowledge your expertise, the first leg is complete.
Leg 2: positioning
Now that you're clear on what you know, it's time to figure out how to position yourself as an expert so you can command top dollar.
Hold on, though. I have to call BS on "don't trade your time for money!"
The passive income crowd will have you believing that trading your time for money is just about the worst thing you can do.
Excuse me for just a moment while I dispel that notion.
First of all, there's no such thing as passive income. Actually, that's not true. Should you invest in the stock market, and you guess right, then your money makes money passively, since you didn't have to do anything other than pick out and invest in a stock, or a bundle of stocks.
That's the only kind of income that's passive.
Everything else simply isn't.
Second, there's simply nothing wrong with trading your time for money.
That's what work is. You do a job. It takes time. You charge someone. They pay you.
The trick is to trade your time for a lot of money.
Or at least a good amount.
Once you nail down your expertise, really figure out what it is that you know, then in order to (cue dramatic music) unlock the secrets of internet riches, you need to figure out how to make a good trade of time for money.
Consider this value ladder:
This image is far from comprehensive, but it's meant to be illustrative. The upper limit on what you can earn writing a blog post is fully half of what you could earn doing group coaching, which is half of what you could earn coaching one-on-one, and so on.
Not everyone who writes wants to coach, so if that's you, you might be tempted to ignore the rest of my advice. But I could make a ladder that describes writing, too, and add "sales page writing" "web copywriting" and "email copywriting" to the ladder as well.
My point is, for the same amount of time, you could make a hundred dollars or you could make two hundred, four hundred, eight hundred, or even a thousand dollars.
When I make five figures in a weekend, I think of that "don't trade your time for money" line and laugh. Unless someone might see me, then I simply smirk.
The last piece, and where I feel most comfortable, is building a marketing engine.
Because you can't have an online business if you're simply not online.
Kathleen "proudly trades her time for money and suggests you do the same" Celmins