Understanding New Revenue Streams as an Expert
When we think about revenue streams, we usually assume it is directly related to the knowledge and experience we have. What we sometimes fail to do, is to look at what other markets, our knowledge and experience, can benefit people. This is really the whole idea behind Innovation. How do we look at what we know and what we can do and how do we apply that talent into places where no one has lived before.
Often business coaches classify this as your differentiator. In the work that I do, I like to take that even further and try to identify it as a whole new market to allow you to be unique from other folks who also have a similar knowledge set to you.
This is a HUGE passion of mine. The idea that Innovation only belongs to Tech is just not true. When we think about all the places that we can help people in all the ways that we can help people, it really is an Innovative way to do so.
What we do Now + What People will Want = Innovative Expertise Brand
My goal is always to help people understand not only what their knowledge is by using that first set of Trifecta, we also talk about understanding your personal vs strategic brand. My goal is to help them understand that knowledge always has value. My goal is to help them understand that knowledge always has value.
My belief is that there is a market for everything and everyone.
The more recent turmoil in our economy provides a great example of why it’s important to understand your market and learning how to continually be aware of new revenue streams is important.
In 2020/21, we have seen a number of businesses attempt to pivot their business in the face of Covid-19. However, at this point they are playing catchup rather than attempting to utilize a skill they have already homed in on.