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How To Make Money
by Stephen Fairley
Every entrepreneur can make more money by giving something away for FREE. It is something
that you don't have to create, you don't have to buy, and something you already have. It's
your expert knowledge.
If you are an entrepreneur or business owner, you have expert knowledge about something. It
may be your product, your service or industry, but you can use this expert knowledge to
attract people and turn them into paying customers.
Expert knowledge is one of the most cost-effective tools you can use to promote your business
and make more money. One of the best ways to do this is to give away your special knowledge
for free. Yes, that's what I said-for FREE. Many entrepreneur's are afraid if they give away
something for nothing it will be perceived as valueless or ignored. They are often anxious
about losing business by revealing too much to a prospective client.
However, according to another perspective, namely that of your true potential customer, by
giving away your expert knowledge you are adding value. They perceive you as someone who wants
more than their money, you want a relationship. You are perceived as the honest expert. Your
business is seen as one who wants informed customers. Let's take a look at what giving away
your expert knowledge would look like.
Product Based Companies
Those of you who own product based companies, where you sell "widgets," have numerous
opportunities to give away your knowledge. Many of your customers want information and an
education. They want to know about the benefits, the features, the options, how it will cut
costs or make them more money.
For example, if your business sells computer network infrastructures then you probably know
something about them that the majority of people do not. Most decision makers looking to
purchase a network infrastructure for their business want to make a wise decision. They may
be unaware of the complexities of various systems, how they can be used effectively, what
kind of components they need and what to expect to pay. Most decision makers want an
education-not necessarily a comprehensive one, but an overview of the critical buying points.
Action Step: A way to give away your knowledge is to have an "Ask the Expert" section on
your website where anyone can email a specific question to you for free advice. If you have
a store front, develop separate brochures for anyone requesting information or coming to your
store: one written for the "lay" person and one with all the detailed technical specifications.
Service Based Companies
Entrepreneurs in many service based companies often have to work harder to develop customers.
It is more difficult to sell something you cannot see, feel, or touch. However, your customers still
want to know similar things about your service: what are the features, the options, the benefits,
whether they can trust you, and how your services will either cut costs or make them more money.
For example, many business owners need special help in the area of financial management.
They may know how to manage people, but not their accounts receivable. If your company delivers
financial services, your job may involve showing them how your services can ensure their
company's financial security by making their business more streamlined.
Action Step: One way to give away your knowledge is to host free quarterly seminars for small
business owners on various financial topics like: "10 Keys to Small Business Financial Management"
or "How to Ensure Your Business' Financial Future." Advertise the seminars through your local
chamber of commerce, networking events, public radio, newspapers, on your website, direct mail,
and via other services providers who work with your potential clients, such as attorneys. The
people who come to these seminars are all potential clients. Develop a friendly way to keep in
touch with them through email or periodic phone calls.
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