Business
Read full blog post. Watch the video version. 5 Reasons Why You Should Consider Getting Into Knowledge Business Today Reason #1 – Impact and Legacy Every individual on this planet has a potential to create more impact, more meaning, and more success with the influence they already have. Knowledge business does allow you to get more out of your life by leveraging the potential inside you and leave your legacy and impact the world. Reason #2 – Time and Location Free There are many great businesses that are profitable, enjoyable but they are bound to time and specific location. If you run a brick-and-mortar client business, you will be limited to working certain hours in a day at a specific physical location, for example a beauty salon. However, if you teach beauty salon owners how to run a successful business, you won’t be necessarily tied to time or location. You can do anywhere and anytime, online or in person. See the difference? Reason #3 – Recession Proof When the economy falters, consumers tighten their belts, businesses cut non-essential expenses. And, during economic decline, which may be the onset of a recession many jobs get cut out, employees get laid off. However, in any recession there are some businesses and occupations which will always be in demand no matter what. If you have skills and knowledge or you are a broker of someone else’s knowledge, which can help solve people’s life or business problems, you will always be in high demand on the market. Reason #4 – Very Profitable Knowledge or educational business products are delivered and packaged in conventionally available formats such as coaching, consulting, webinars, seminars, workshops, online courses, memberships sites, masterminds, live vents, and much more. In a new virtual knowledge economy, profit margins are much higher than in traditional business models. Because the main commodity you are selling is your knowledge and expertise. You don’t have to worry about buying expensive inventory, fulfilling and shipping physical orders, renting a space etc. However, you still have to pay for technology, software, accounting, marketing etc. However, these expenses are not in comparison to the ones of non-information business models. Therefore, you end up having a very profitable knowledge business with healthy margins. Reason #5 – Highly Scalable In the educational and information business, availability of various formats allows delivering information in a more scalable one-to-many vs. one-to-one mode. As a matter of fact, you basically clone yourself and become omnipresent on different platforms and channels as much as your marketing and advertising efforts allow you to be so.