If you are a writer, baker, photographer, speaker, coach, teacher, or a salesperson or a team leader… no matter which type of skill you have, you need to know that there are at least SIX different ways YOU can monetize that skillset.
Whenever we think of earning money, we usually end up thinking of either doing a job, doing freelancing of some sort or setting up an e-commerce store.
But we must realize that there are a total of six ways (at least) that you can use to take your idea, your passion, your skill set to the market.
Here is the list, on our Ease of Business Grid:
As you see in the above grid, we have arranged the six business models according to their ease of starting and their profitability.
For example, the Magazine business model is very low on profitability compared to other business models, and it is very difficult (or expensive) to do. The most desirable business model becomes the Teaching business model: it is slightly more difficult to start than say freelancing or affiliate business models, but it is definitely much more profitable (give the digital nature of the product, and the different demand gaps you can fill in the market).
Now having said that, here is the detailed breakdown of each of these six business models:
There is a worksheet associated with the above video, download that below:
As you see in the above thorough lesson, we can approach the same “idea” in at least six different ways.
Hope this helps you move closer towards your dream of building a profitable and meaningful business inshAllah. Aameen.