Turn Knowledge Into Profit: Move Beyond Trading Days for Dollars

Here’s an example of how you can repackage or repurpose something that many of you may already do in your business to create passive income without a lot of extra work.

Let’s say you’re a life coach and you help women achieve more balance in their lives as they cope with their careers and family responsibilities. You consult with five clients each day for an hour at a time and basically follow the same format with your questioning and strategies to move these clients forward. For the sake of this exercise, let’s say your hourly rate is $100.

This equates to working five hours a day, five days a week, totaling 25 hours each week, serving 25 clients. So at $100 an hour that gives you a total earning capacity of $2,500.

Now suppose that instead you offered a group coaching program where you converted the same solution-focused information to a group of 25 clients at one time. This workshop may run for three hours and you charge the same $100 per client.

Your time expenditure would be three hours, but you would earn $2,500. Immediately, your time expenditure has been reduced from 25 hours to only three hours, yet you’ve earned the same amount without needing any additional expertise or effort.

Now hold a teleclass. You can give that same information to potentially hundreds of clients. As it’s a phone call, you may want to reduce the cost to participate, or even offer it for free. But for only one hours’ work, with the same knowledge, you’ve got the opportunity now to reach such a wide audience, and at the same time you can have this teleclass recorded.

Have that teleclass transcribed so you can turn that information into an ebook, and ebooks generally go for $47. So how many clients could you reach to share your knowledge with, and how many times could this one product earn you $47? That’s $47, over and over again.

Now the next step could be for you to use that same knowledge and information, tweak the ebook and add the recorded teleseminar, which you now have copied onto CD, and repackage it into a home study course.

Let’s make this program even better by including the DVD that you had filmed when you ran your group coaching session earlier. This course could be on your site and available for customers to purchase 24 hours a day, creating a tidy source of income.

Then package your home study course, which consists of the DVD, CDs and the manual, with once a month, one-on-one coaching sessions to your high end clients. This could be sold for a minimum of $2,500.

So these programs, with the right value and solutions for your clients, can even go as high as $20,000 or more for the year – obviously in relation to the quality of what you’re providing.

This is the system that’s used by many of the wealthy entrepreneurs today. By simply repackaging and repurposing your initial information, you’ve turned one-on-one consulting, earning $100 an hour, into multiple products creating multiple streams of income.

Learn how to earn more money while working less by turning your knowledge into passive income with the free report, “The 11 Quickest Ways to Monetize Your Expertise and Fill Your Product Funnel” at http://www.ProductFunnelFormula.com

Danette Hibberd, aka The Success Goddess, helps female entrepreneurs, service professionals, and women in business turn their knowledge into multiple streams of passive income.