A knowledge business revolves around you sharing your knowledge, experience, or perspective with others. If you start a knowledge business, you will be participating in the knowledge industry.
Here are the steps:
Step 1. Identify the audience
Step 2. Write your solution statement
Step 3. Create a knowledge product (PDF download, email course, video course, content subscription, etc.)
Step 4. Create a sales page with an offer (describe the product benefits, features, and price with buy now button)
Step 5. Create a landing page (connect with audience and describe the product benefits, the problems it solves, etc. and link to sales page)
Step 6. Create an audience magnet (some content that helps the audience with a call to action to subscribe to mailing list or visit landing page)
Step 7. Monitor sales and continue to attract your audience by publishing more content and talking about it (on social media, online forums, etc.)
These steps are intended to be followed QUICKLY to build and test a product. When you get to step 7 and you are monitoring for visitors and sales, if you see that there are sales happening then you have validated your solution statement and should continue expanding on it with more products. If sales are not happening, then consider changing any one of the steps (1-6) and try it again.
Is a knowledge business right for me?
If you’re an expert in something, that means you know a lot about it and probably have a lot to share.
But you don’t have to be an expert in something to start a knowledge business. You just need some knowledge, or some experience, or some perspective to share.
Here is an analogy shared by Dean Graziosi: Imagine that acquiring knowledge is like climbing a ladder. People who know nothing are at the bottom. The experts are at the very top. But even if you figured out how to climb just one step up, you already have something to share with people who are one step behind you. And if you’re looking at the next step to climb and have some ideas, you already have something to share with people who are on the same step with you.
What are some things you can teach? Here are ideas to start your brainstorming:
- Something you developed in your career or business, like a skill, or method, or technique
- Life experiences, like what you learned from an experience, or how you got through some challenging circumstances like a divorce, being fired, raising kids, getting promoted, surviving a natural disaster, or anything else that happened
- Something you’re passionate about, something you love to do like gardening, fishing, painting, exercising, reading, etc.
- If you find a solution to a problem or you have an insight about something, share it with people because it’s good news for them and can help them and make a difference in their lives
You can create a successful knowledge business by offering people this package:
- A guide
- A plan
- The tools
How can you deliver your knowledge?
- A single file like PDF, or a document template, or a workbook template, etc.
- A book
- A course with pages and videos, like a book that comes to life
- A 6-part email sequence, 12-part email sequence, etc.
- Coaching (1 on 1) it’s personalized, hands-on, first-hand transformation
- Group coaching (Mastermind meetings) for people to share their questions and collective wisdom
An effective teaching technique is called “story, teach, tools”:
- Tell an interesting and engaging story
- Teach the lessons to be learned from the story, or use analogies to things that happened in the story
- Give tools, also called “take-aways”, even an action that someone could take immediately after the lesson to start putting it into practice.
How can you sell your knowledge?
- People get what they need
- The import important investment is to invest in yourself (with buying this course)
- Tell the story of your breakthrough
- Complexity is the enemy of execution
- Make a decision and act on it
People get what they need
- Write a goal for the next 6 months, 12 months, or 18 months
- What is the goal?
- Do you have to have it?
- The reasons come first. The answers come second.
The breakthrough
- What was the breakthrough? (what was the situation and what happened?)
- What triggered the breakthrough? (usually a pain)
- What made the breakthrough possible?
- What is life today like as a result?
Complexity is the enemy of execution
- State. The mental and emotional state. Take responsibility. Be positive.
- Story. You can have a limiting story which holds you back, or you can change your story.
- Strategy. Knowing what to do. How do I get this done? Never let the tyranny of “how” stop me from doing what I need to do.
Take action
- What held you back in the past? What must change now?
- What are 1 or 2 actions you can take right away that will start moving you forward? Take a class, make an appointment, buy a book, talk with a friend, or whatever.
How much do you give in your first or next product?
- Give everything. Over deliver. Then people will be excited to get the next thing from you.
- Start creating content to tell people what you do and share some knowledge for free
- Don’t expect that any of the posts will go viral, but if one does that’s extra; the cumulative effect will get people to pay attention to what you’re saying and doing
- This builds the audience for you to talk to
People are rewarded in public for what they practice in private
- If you look at successful people in the news, you only see the successful or emotional moments; they don’t show all the work that person did to get there