How to Monetize Your Expertise Into a $1M Business

TL;DR

Monetize your expertise by turning a recent, measurable proof story into intellectual property, packaging it as both a learning product and a core offering, and building attention around it. The five-step playbook begins with an outcome from the last five years that matters to an ideal customer persona and can be explained step by step. Read on to shape that proof into an offer people can discover, understand, and buy.

Transcript

I've been paid over $35 million growing and scaling thousands of businesses around the world. I've worked with celebrities, I've worked with athletes, and I've worked with some of the world's top YouTube creators who have more than 20 million followers. All of these people pay a fortune for the advice that I'm about to give you in this video for fr... Read More

Key Insights

• A proof story is a moment in the last 5 years where you did something special of interest to an ideal customer persona (ICP), producing a quantifiable outcome that you have named and can explain step by step.
• Intellectual property is the unique material from your story: your emotions, your steps, your take, and the name you give the outcome, which you can register and associate with your business.
• Every proof story converts into two products: a 'product for prospects' where people learn about your IP, and a 'core offering' where the IP gets delivered to them.
• The product for prospects needs an online landing page explaining what to do to learn, while the core offering needs a slide deck or brochure explaining what gets delivered and its price.
• Your entire business is downstream from attention. If you cannot get attention, you do not have a business, so you must ramp up how much attention you get.
• People notice you for the first time when they see you for the 11th time, so you need 11 pieces of short-form content, and the data says they must see it within 90 days.
• Posting every single day lets new people notice you every two weeks; some top creators post 5 to 10 pieces of content daily to get noticed more often.
• People need 2 to 7 hours of long-form content, such as podcasts, workshops, keynotes, or a book, to move from noticing you to genuinely knowing you.

Questions & Answers

Q: How can you monetize your expertise into a $1M business?

Start by identifying a proof story from the last five years with a named, quantifiable outcome for an ideal customer persona. Turn its story, steps, emotions, and perspective into intellectual property, then package that IP as a product for prospects and a core offering. After creating the products, increase attention by becoming noticed, known, and rated.

Q: What is a proof story, and why does it matter?

A proof story is a time in the last five years when you did something special that interests an ideal customer persona. It must include a quantifiable outcome, a name for that outcome, and steps explaining how you achieved it. This story becomes the basis of the intellectual property behind your products.

Q: How do you turn a proof story into products?

Convert the intellectual property in your proof story into two products: a product for prospects and a core offering. The first helps people learn the story, outcome, name, and steps, while the second delivers the intellectual property so customers can replicate part of the result.

Q: What can a product for prospects include?

A product for prospects can be a webinar, an online assessment, or an online minicourse. It needs an online landing page that explains what people need to do to learn about your intellectual property.

Q: How can a core offering deliver your intellectual property?

A core offering can deliver the work through an agency, software, a physical product, or consulting. It should have a slide deck or brochure explaining what gets delivered and how much it costs.

Q: What does Ronley Vaz's proof story demonstrate?

Ronley Vaz used the success of his food podcast to launch an audio marketing agency while his restaurant was losing money and he was almost half a million dollars in debt. Within 30 days he signed his first major clients, and within six months he had paid down the debt and had over $20,000 in the bank.

Q: How much content does someone need to see before noticing you?

The cited data says people notice you for the first time when they see you for the 11th time. That means publishing 11 pieces of short-form content and having people encounter them within 90 days.

Q: How does long-form content help people get to know you?

People need to spend 2 to 7 hours with your long-form content to move from noticing you to knowing you. That content can include podcasts, workshops, keynotes, long videos, Zoom sessions, reports, long posts, or a book.

Summary & Key Takeaways

• The speaker, who says he has been paid over $35 million growing thousands of businesses, shares a five-step playbook usually reserved for paying clients. Step one is creating a product with proof, built from a 'proof story': something special done in the last five years for an ideal customer persona with a quantifiable, named, repeatable outcome.

• Examples include the speaker's own 'key person of influence' methodology, which became a book and global accelerator, and Ronley Vaz, who leveraged a successful food podcast to launch an audio marketing agency, signing his first major clients within 30 days and clearing nearly half a million in debt within six months with over $20,000 cash remaining.

• The proof story becomes intellectual property split into a 'product for prospects' for learning (webinar, assessment, or minicourse with a landing page) and a 'core offering' for delivery (agency, software, product, or consulting, with a slide deck or brochure). Step two is getting attention by becoming noticed, known, and rated.