Saturday, February 09, 2008

How to make money from Linkedin?

Headhunters certainly make money from Linkedin, which acts like a kind of virtual Rolodex for them.

But how would an ordinary professional or manager make money from Linkedin?

In order to answer that question, we need to step back and understand what business is all about. Business is basically "innovation" and "marketing."

In other words, a business makes money by 1. creating new value and 2. marketing or delivering that value to customers.

With this clear understanding in mind, we can now look at the question "How to make money from Linkedin?"

First, ask yourself: What is the knowledge you have which could be sold to others?
Second, ask yourself: What is the best price for offering that knowledge?

Indeed, making money through Linkedin is easiest if you have valuable knowledge to sell.

This is so because knowledge can be easily captured in a digital format, such as MP3 file, blog, PDF document, video (hosted on Youtube or your own server), etc.

Your valuable knowledge, once digitized, can be sold to ANYONE anywhere on the planet where there is an Internet connection.

The challenge is to package all your knowledge into a digital document (audio, video or text) that you can sell for $1.

You're probably thinking, "How the heck will I become rich if I sell my knowledge for a measly $1?"

Well, I say "$1" because it sounds easy. If you cannot sell your knowledge to someone for $1, then you are in big trouble.

Of course, feel free to sell your knowledge for $50 or even $100 if you want.

But let's start small and then later, we can increase the price.

So that's my challenge to you: package your knowledge into a document that people would pay $1 to download. Or use $5 if you want.

Believe it or not, most people are incapable of creating such a $5 document.

This is not because they are not smart. It's simply because they have never learned how to organize their knowledge in a way that would be useful to other people.

In future posts, I will explain how this can be done.

But for now, realize that once you package your knowledge into a $5 document, you can then sell it to hundreds or even thousands of people.

For instance, if 500 buy your $5 document, then you've just made $2,500.

(To be continued)