Are you the expert in your field, profession or industry? Regardless of the profession you choose, when you position yourself as the expert, you will be paid more money. In this chapter, I will teach you how to position yourself as the expert, so that you can get paid what you are worth. If you have a specific skill or knowledge base in a specific industry, if you position yourself as an expert, people will recognize your talent and pay you top dollar to gain some of your wisdom. Your knowledge makes you the authority on a specific topic, trade or profession. You must learn to position yourself as the expert and in this chapter, we will discover many ways to help you position yourself as the expert and command top dollar for your services. In this chapter, I will reveal several top paying revenue streams that experts do. For example, authors, speakers and coaches are amongst some of the highest paid individuals in the world and it makes you the expert in your marketplace. In this book, you will learn some of the secrets and strategies from millionaires that have built true wealth, just simply by positioning themselves more intelligently as an expert!
The better positioned you are as an expert, the more income you can demand for your knowledge and service. If you are an entrepreneur trying to better build your company and make it more profitable, my secrets and tips will help you accomplish your goals. I will share with you what I’ve learned over the last 20 years and what others, who have built large fortunes, have learned about being the expert in their field and what it can do for you.
So what is an expert? Webster’s dictionary describes it as a person with a high degree of skill in or knowledge of a certain subject. I describe an expert as a credible authority who has been in a particular field for seven to ten years or more. Experts know what to pay attention to, what things mean, how things work and how things might turn out. In this chapter, you will learn how to become an expert and how you can monetize your expertise, which will get you paid for your insight, knowledge and experience!
Positioning yourself as the expert is extremely important because your income and your influence are directly proportionate to the number of people who consider you the expert! So ask yourself this question. How many people, right now, consider me the expert, the authority, the go to person when it comes to my expertise based on my knowledge and skills in my particular field? If your answer is not enough, don’t worry, because in this chapter, I will help you identify several ways you can gain maximum exposure by branding yourself as the expert. When you do this properly, everything in your life will shift. People, companies, charities, news and media will all start looking to you for advice. Your circle of influence will grow, the respect you command will grow and ultimately, you will be paid what your worth. I’m sure many of you reading this book right now aren’t getting paid what you’re worth for the knowledge and expertise you have. We’re about to change all that right now!
In this chapter, I will reveal to you the five highest paying skills that I do to create wealth and the seven secrets that experts do to position themselves as an expert to give themselves the credibility of you require to develop the five highest paying skills.
Top 5 Highest Paying Industries that we focus on:
1. The speaking industry is one of the highest paid expert services in the world. I have been on stage for 20 minutes and made ten thousand dollars and more. I have been on stage and delivered a high value, high content speech and got paid fifty thousand dollars for an hour speech. Some people, such as Former President Bill Clinton, have been paid a quarter of million dollars to deliver a key note speech. Where else and what other industry can pay you that kind of money? I don’t know of another job or industry that pays that kind of money. Getting a high paying gig like that skill and expert have that skill and are the authority in their field.
2. Seminars are another high paying way to generate wealth quickly. People who have put on their own seminars, trainings and workshops and have people come in and learn from you and pay a high ticket price to be in the room with you and learn from you because of your knowledge and expertise in the industry. Making fifty thousand to five hundred thousand dollars is not out of the question for a weekends worth of work.
3. Coaching is another high paying profession that experts do to create wealth. If you are business leader or someone who is great at people development, then coaching is a great high paying career. My wife Giovanna, is one of the best coaches in world and has an unbelievable connection with people. Many people have come from all over the world to coach with her. She does more than just mentor them, but actually coaches them along their career paths. There are approximately 40,000 coaches that get paid anywhere between $300 per hour to $3000 per hour and up!
4. Consulting is another highly profitable career path where consultants go into businesses and helping them diagnose how their current state situation is and what their company current situation is like and helping them understand where they could go based on best practices and innovation. This is one of my favorite things to do as I love looking at a business and discussing what to do next and where to go with the business. In my earlier career as a computer consultant, I had the privilege of setting the infrastructure in over 1200 businesses in 200 industries.
5. Product development is extremely profitable. If you create and sell your own products, especially one with a low cost and high profit model is great. For example if you have books, cd’s DVD’s or any kind of informational product where once it is created, the only cost to you is the material, usually a few dollars and it sells for fifty, one hundred dollars or more, then you have a winning formula for high profitability! A simple way that anyone can get started today to create an info product is to interview the top experts in a particular field and record or write about the insight gained from this process. This is compiling data and distributing it and that is something anyone can do today!
The seven secrets that experts do and how these seven things can help improve your bottom line are: Perfect One Skill, Continued Education, Opinions and Arguments, Simplify, Create Products, Create a Brand and Charge Expert Fees.
Experts Perfect one skill and are known for that one skill. There are many things experts can do, but they will do one of those skills the best and are usually know for that skill first. I recommend choosing one thing that you are most passionate about. Choose the skill that you are the best at and perfect that skill better than anyone else you know. When you do this, you will then become the authority in the skill you decided to become an expert. When this happens, people will start coming to you for advice, your opinion and your help. This is when you know you are the authority in your field.
Continued Education is critical to your expert status. Every expert I know, every millionaire I’ve ever spoke with is continuing their education on a daily, weekly and monthly basis. You should be doing internet research on daily basis in your field of expertise. This will include reading blogs and articles, listening to podcasts and watching videos or webinars. How many books are you reading per month in area of expertise? It should be at least two books per month. For some of us, that sounds like a huge task, especially when you read slowly like I do. Then maybe, improving your reading skill should be one of your goals. The more you read, the faster you will get. How many seminars are you attending per year? You should attend a minimum of six to twelve per year. First, because of the great content you will receive, but secondly and maybe more importantly, the contacts you will make when attending these seminars. When you are the expert, other experts will be attracted to you for your expertise.
Experts have opinions and can create arguments on a particular subject. If something has been done a particular way for several years or decades, as the expert in your field, create a dialog that may confirm or conflict with the traditional way of thinking or put a new twist on something or improve it. Campaign or claim that as your own and be known for the person that changed it. For example, everyone knows the phrase “Knowledge is Power”, but Giovanna Garcia, the “Imperfect Action is better than No Action” expert says, “Knowledge with Action is Power”. She didn’t re-invent the wheel; she put her twist on it based on years of experience and coaching many clients. She concluded that many people know what they are supposed to do, but don’t because they don’t put any action behind it. Point out what to pay attention to and explain how things might turn out in any given situation and campaign that knowledge.
Explain what things mean in an easy to understand manner. By illustrating a technique in a formula, flow chart or system, you can help people to see and understand something they didn’t before. So don’t be afraid to analyze something, create something that is easy to understand and get out those graphs, pie charts or flow charts. Everyone loves power point these days, so create a power point to explain each point in your field and do it in a way of everyday language. Don’t try to impress your audience by using big words; the point here is to create something simple so that everyone reading, watching or listening can understand it. When you do this, you become the expert in that field as you are the one who can explain it in a manner that is easy to understand and in a way that hasn’t been taught.
Create products from your expertise. Experts write speak, record and package their knowledge. They have products to sell and give away. Experts speak on stage about their knowledge. Experts create e-books, reports, flow charts, books, cd’s, videos about their knowledge. This is a natural progression from becoming a student in your field to an expert in your field. One rule of thumb is to make sure the content you are providing is quality. Do not focus on the quantity of products. While Giovanna Garcia’s motto is Imperfect Action is better than no action, experts do not just put something together to have a product. Experts make sure their work is excellent. People will respect you when your work is great.
Branding is a key essential element that all experts have mastered. The American Marketing Association (AMA) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. Therefore, it makes sense to understand that branding is not about getting your target market to choose you over the competition, but it is about getting your prospects to see you as the only one that provides a solution to their problem. Branding allows you to deliver the message clearly, confirms your credibility, connects your target prospects emotionally, motivates the buyer and solidifies loyalty.
Experts charge expert fees, which is usually more than you would think. If we look at the top five things that experts do to produce income, you’ll realize that all of them are extremely profitable. Speakers can charge anywhere from $2500 to $50,000 for an hour’s work. Experts can develop a seminar business that can bring $50,000 and up for a weekend’s work. Coaching can bring in $300 to $3000 per hour. Consultants can charge $10,000 to $50,000 per customer and take part in a percentage of the improvements of revenues. Product development can bring in millions of dollars and can be sold again and again. Experts get paid well and as you become the expert in your field, your income will increase. So does it pay to be an expert? Absolutely!