Turning your Knowledge into cash

The thirst for new knowledge is a driving force for many intellectual markets these days. Knowledge is big business and you can capitalize on that business by turning your own experiences, training, knowledge, and know-how into a passive-income product that can serve as another stream of income. What kind of product you ask? Well, a book of course. Everyone has at least one book in them and those of us with more experience can have 5, 10, 20, or more.

Why Write a Book?

There is no right answer to this question, simply because it is different for each person. Some people want just the satisfaction of seeing their words in print. Others like the challenge of producing something they created themselves. I see my writing as both personally-satisfying and also serious business. Sure, I like to see my name in print, but when I’m holding a book in my hands, I’m holding a product that I created with my own two hands and my head and I want it to generate cash flow for me.

Words + ideas = $$$

I used to say: words + ideas + paper = $$$, but with the advent of eBooks, the paper factor has been eliminated. Realize that each and every person goes through life with their own unique perspectives and ideas. No two people ever see things exactly the same way. This is what makes your own knowledge and experience a valuable commodity because even though every topic imaginable has already been written about by numerous authors, none of them see the situation as you do and your unique twist to that same issue makes it valuable to others.

What to Write About

You tell me. Most of us go to work 8 hours a day, 5 days a week. With that much invested time, we should be good at something right? Do you have a passion or a hobby, or maybe a sport that you excel at? Trust me, you have more information inside that brain of yours than you would like to admit. The trick is to put it on paper and in an organized way that people will find appealing.

How to Get Published

My advice is to forget about going with a traditional publisher. Their snotty approach to new authors, coupled with lots of red tape is a headache that you don’t need. Even if you do get a contract with them, the check you’ll get upfront as a newbie author will be next to nothing and it could be a year before you ever see your script in book form. Instead, self-publish your book through a print-on-demand company. Now, you won’t get the respect in the industry that a traditional publishing house can deliver, but for the average Joe out there—they could care less and realize that you can use the shoulders of your previous book to launch your next one. Just make sure your book is high-quality and invest to have it professional edited and designed.

Selling Your Book

Whether you go with a traditional publisher or you self-publish, its up to you to switch from your writer’s cap to your business cap. You are going to have to promote and sell your book, which means people have to know that you wrote a book in the first place and they need to know where they can go to purchase that book. The best option for you to do is to have a website built that either can take orders direct, or send your customers to sites like Amazon.com to purchase your book. Aggressively promote your book by writing articles, letters to editors, getting on the phone, and marketing your book. Remember that it is an investment and it’s up to you to cash in on that investment.

Tristan Loo is the founder of Alternative Conflict Resolution Services, a management consultancy based out of San Diego County, Calfornia. Tristan is a former police officer, conflict expert, professional mediator, and negotiator. Tristan gained his experience by actively engaging conflict out on the streets, honing his knowledge and understanding of conflict during hundreds of dangerous encounters with hostile and violent subjects. Tristan is the author of Street Negotiation--How to Resolve Any Conflict Anytime.

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