The evolution of self-publishing, video technology and online payments has led to a huge business opportunity for all kind of authors, teachers and experts. These trends are leading to a new generation of entrepreneurs building what we call the Expert Economy.
In the Expert Economy, entrepreneurs can monetize their knowledge by sharing it with a global audience of information hungry consumers. There are a number of ways for these new businesses to generate revenue.
Direct Sales: Experts package their knowledge as books, video series, seminars or other self-contained units and sell them using online payments.
Subscriptions: Customers subscribe to receive new information on a topic weekly or monthly. This could be a video series, new articles, training programs, or other content.
Advertising: Experts that have built a large community of followers can generate revenue through advertising around their written and video content.
Sponsorship: Companies build advertising, branding and lead generating elements into written and video program that is relevant to their business and of interest to their customers.