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Think of something you always do. It could be creating jewelry, cooking, making soup, preparing cocktails with dragon fruit syrup, or painting. What if people gave you money for something you do anyway?
Many people generate income like this. If you improve your skills enough, you could make enough to pay off your expenses.
Sometimes, it can turn into a passive income source. It only requires the right format and promotion.
How can I use the skills to generate income?
Regardless of your model, there are three ways we make money.
You can make money with more money. That’s how most businesses operate. When you invest upfront, you can get a better reward once it starts running. Money helps us save time and effort.
When not using money, there is also time. Here, you work on someone else’s business in exchange for cash. You can earn more when you offer more time or produce better results. For logical reasons, this model is quite limited.
Skills are a middle area between money and time. You still give your time, but you get paid for results based on a task you can improve. The better you do it, the more you can charge for the same time.
The most skilled freelancers can make six-figures per year.
Which method do you prefer? When starting your career without money, skills are the best way to scale. Also, you can combine all of them.
How do you monetize your skills?
When we talk about skills, it includes knowledge and abilities. Understand that people don’t pay for the skill itself. They pay for what that skill can offer them. It could be a product with better quality, a high-standard service, or exclusive knowledge.
Once you are aware of the demand, you can look for a balance between your passion and the market need. As for income models, there are subscriptions, consulting, and e-commerce.
You can sell products online if your skills can create them. There are many craftsmen on earning on websites like Amazon.
Another product type is information. You can sell it as a course, a consulting service, or a monthly subscription. Also, you can update the content to raise the price after getting your first group of clients.
All these ideas create passive income except consulting. This one requires you to guide or mentor a client to achieve a result.
You could also get paid to teach others your skills and save them time. Although it’s not a passive income stream, you can charge much more and build a reputation.
How can you get noticed?
How can you become known? Why should others trust you? Should you start working for free?
There are many questions about the marketing strategy. Luckily, making money is as simple as building trust with your first clients. After you get your first ones, it will become much easier to increase your income.
We often think we need a lot of clients to make decent money. The secret is to focus on getting one client at a time. An easy way to start is offering an underpriced service.
What would happen if you over-delivered to your first customers?
If you get them better results than what they expected, they will be excited. They’ll want to tell others about this service. You don’t have to work for less all the time, but it becomes an advantage in the beginning.
It doesn’t matter what skills you want to use. If you are proficient, others will recognize your ability and start paying you the right amount.
The bottom line
You use your skills to generate money if others can benefit from them. The more time you spend mastering the ability, the more you can increase your income. Also, that will increase the number of good clients to work with.
At first, freelancers use low pricing to meet more clients. If you overdeliver, chances are you will find your ideal client. That will lead to more and more opportunities.
How long will it take? It depends on how much action you take. It’s about meeting the right clients and offering the best service.
If you love it, you are going to do it anyway. Why not get paid for it while others benefit as well?
Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.