How to Turn Your Knowledge into a Supplemental Income

How to Turn Your Knowledge into a Supplemental Income

As we prepare for what we hope is the last stages of COVID, many find themselves in need of a supplemental income. Finding sources of that income is a bit of a challenge for everyone. That doesn’t mean there is no income to be found. It just means you will have to be a little creative and tenacious about finding it.

One way to make some money during these lean times is to sell off some possessions. Few people are going to feel much sympathy for a starving person who also happens to own a boat. Don’t get in the line for free food so you can load a couple of bags of groceries into your Hummer. You also will want to leave your gold and diamond-studded jewelry at home in the safe.

Even if you sell off every superfluous thing you own, that is not exactly an income. It is a one-time relief package that might help you get through a couple of weeks at best. What you need is a steady income, even if it is a small one. Once you are out of physical assets, you still have another that can get you through the tough times: You have that which you know. And that knowledge is still worth something to someone. Here is how to turn your knowledge into something you can spend:

Hold Educational Seminars

You don’t have to be a school teacher to teach what you know to someone who is motivated to learn it. It is just a matter of how that transaction takes place. One thing you can do is sign up people for paid seminars.

Start by advertising to as many people as possible for as little money as you can get away with. Set up a 10 by 10 canopy tent in the parking lot of a major store after getting permission from the owner. Give out flyers or brochures and generate interest.

Offer the first session for free which can serve as an introduction to what you are teaching. Perhaps you are teaching a defensive driving class. Your first session might have something to do with how red-light cameras work. That session is to establish your expertise and to give them just enough to want more.

Start a Blog

There are a variety of business models for making money on the internet. One of the easiest to tap is an ad-sponsored blog. There are a few keys to successful blogging:

1. Build an audience of like-minded people. The bigger the audience, the better. However, something even more valuable than a huge audience is a highly engaged audience.

2. Build your writing skills. Blogging is mostly writing with a photo or video thrown in for good measure. You might be an expert in your field. But if you cannot communicate it in writing, it does you no good.

3. Be patient. Building a blogging empire takes time. You can easily introduce ads into the blog. But you have to give your audience a chance to grow.

Write an eBook

Forget about print. Use your writing skills to write an ebook and distribute it for free from your own site. It is easy to build a website. You can use one of the popular template sites and ad e-commerce enabling the ability to take payments in all the major forms.

Writing a full-length book just might be one of the hardest things you ever attempt to do. Don’t ever let anyone tell you it is easy. It isn’t. So don’t do it. You don’t have to. Instead, write a quarter of the typical book and sell it for $1.99. Now, you can write four of them. Price is low enough to be a no-brainer but high enough to make it worth your time.

The best part is you don’t have to choose one of these suggestions. You can do them all. Hold a seminar on what you are passionate about. Start a blog to attract other people with the same passion. And use that blog to sell your ebook to the world. It might not replace your Wall Street job. But it will allow you to skip the soup kitchen, except, of course, to volunteer.