Episode 01: What Exactly IS a Modern Day Expert?
Mar 08, 2021
You're here! You're here with me for the first episode of the Modern Day Expert Podcast. I am so grateful. Thank you! Thank you so much!
If we haven’t met before, my name is Catherine Dove and I've been making a living selling my expertise online for the last 20 years and now I have the privilege and honor to help others do the same thing.
I created this podcast (and, my hunch is that the reason you are listening to it) is because we both know (deep down) that you, my friend, are here to make a much BIGGER difference in the world than you are doing right now.
You know it and I know it.
You can make a bigger difference in the world by becoming a Modern Day Expert.
In today's show I am going to answer the question: What Exactly Is a Modern Day Expert?
After all, this is the Modern Day Expert Podcast, so I thought that would be a good place to start for the first episode. A Modern Day Expert is a term that I've trademarked and am excited to share more about with you.
Today I am going to share with you:
The Value of your Expertise
The Differences Between a Traditional Expert and a Modern Day Expert
The Types of Expertise People Pay For
Online Products and Programs You Can Create
3 Life-Changing Benefits of becoming a Modern Day Expert
THE VALUE OF YOUR EXPERTISE
Your business expertise, or perhaps the valuable life experiences you've gained over the years have a bigger market value than you have ever dreamed of.
In fact, call me crazy, but I believe your message has a million dollar value... once you create an Online Business so you can sell your expertise online to a global audience just like I’ve been doing for the last 20 years.
I’m not the only one that believes in the value of your message when you share it online….
Years ago, I read the book, Rich Dad, Poor Dad by Robert Kiyosaki. I credit Robert and what he teaches in the book with starting me on the path I took to figure out how to be my own boss instead of working for others my whole life.
Robert has been recently quoted saying- "one of the shortcuts of the NEW rich is to turn your specialized knowledge, talents and abilities into an online business."
Now, when most people think of an online business, they think of businesses that sell physical products such as Amazon. Guess what? You don't need physical products to create an online business because you can actually sell something far more valuable and lucrative, with an extremely high profit margin.
You can package and sell your expertise (or as Robert calls it, your specialized knowledge, talents and abilities) into online products and programs and sell them online. Robert calls this one of the shortcuts of the NEW rich. I personally love shortcuts...so I would like to consider this podcast as YOUR shortcut to learning how to become the new rich, or to becoming a Modern Day Expert. So if you haven't already, take a moment to subscribe to this podcast.
When I say expertise, I am referring to wisdom or knowledge you've earned the hard way over the years through education, experience and probably a whole lot of trial and error. This is expertise that you have been paid for over the years, or perhaps benefited from in your own life, or helped your family and friends with.
If this is the first time you've heard of selling your expertise online, I want you to know that you can absolutely, 100% GET PAID for sharing your expertise online. But there is a catch. (It's the small print!) Your expertise has to be something that people are looking for, and it has to help people create a better life or business. In the process, you'll build a very lucrative online business and a profoundly meaningful life.
How do I know that you can do this?
I've been doing it for the past 20 years,which I will share more about in an upcoming episode. I've helped others sell their expertise online, and I hang out online with thousands, and thousands of experts all over the world that are monetizing their expertise online and living the life of their dreams.
If we can do it, so can you! We are nothing special. We just took the time to figure it out and did it.
Once you modernize your expertise, you will be able to make more money in less time, and serve way more people online than you could possibly serve in person.
If you are like most experts, you are passionate about your expertise because you know firsthand the difference that what you know has made in your life, or the lives of people you have helped.
You have "cracked the code", as they say. You have a proven track record of success in your niche, and frankly, it just comes natural to you. You may have even developed a unique methodology or process that allows you to help people solve a problem, or achieve a goal in their life or business.
Now, for the record, I am NOT saying that you need to be a world-renowned expert to sell your expertise online. You simply need to be a few steps ahead of others that need and want to hear your message.
TRADITIONAL EXPERTS VS MODERN DAY EXPERTS
Let's talk about the differences between Traditional Experts and Modern Day Experts.
Traditional experts share their expertise in PERSON as part of their job, as a trainer, speaker, coach, consultant, freelancer, business owner, etc. Or, a traditional expert may be an expert in something that their friends and family always come to them about for advice.
Instead of delivering your expertise in person like a Traditional Expert, a Modern Day Expert modernizes their expertise by packaging it into online products and programs. These products and programs have been referred to as information products over the years.
So the Traditional Expert delivers what they know in person, and the Modern Day Expert delivers it online.
EXPERTISE THAT PEOPLE PAY FOR
If you are wondering what kind of expertise or knowledge, I am referring to that people are willing to pay for online, it is basically the same kinds of expertise and knowledge that people pay for offline, or in the real world, as they say.
I am going to share some of the most popular online business categories, along with some examples of real life online products and programs to help you better understand what I am talking about and get your creative juices flowing.
Health & Fitness: How to Live with MS, Yoga for Weight Loss, Lean Muscle, and Mobility, Keto Diet for Beginners, Run your First Marathon with Confidence
Business & Money: How to Build a Successful Network Marketing Business, Grant Writing: Keys to a Successful Proposal, Real Estate Investing: Learn to Fix & Flip, Step by Step! How to Publish a Book for Amazon Kindle, Blogging for a Living, How to Build a Massive Retirement Plan from Scratch
Relationships & Dating: Winning in Marriage, How to be a Stepmom, Reclaim Life After Divorce, The Art of Parenting
Lifestyle: Spanish Made Simple, Electric Guitar for Beginners, How to Crochet Recycled Materials, Obedience Dog Training, Backyard Herb Gardening
The list goes on and on. In a future episode, I am going to introduce you to real life Modern Day Experts that I've worked with and I am going to share exactly how they have modernized their expertise, and how they monetize it online.
Some Modern Day Experts build a full time online business with their expertise, while others add online products and programs to their current business, or some Modern day Experts create online products and programs as a side hustle to create a part- time income.
If you haven't already, be sure to subscribe to this podcast so you don't miss that episode.
ONLINE PRODUCTS & PROGRAMS
There are a lot of ways you can package your expertise and share it online. When you do this, your customers can access your content anywhere and anytime. It is an extremely cost-effective way for you to deliver your expertise, and it is a more affordable way for people to work with you compared to working with you one on one.
Online products and programs are also known as e-learning products and programs. E-learning simply means learning conducted via electronic media, typically on the internet.
According to Forbes, the E-Learning industry is expected to grow to $325 Billion by 2025 which is up from $107 Billion in 2015.
Now I want to share different ways you can package your expertise and sell it online.
These are just a few examples. They can be offered at a variety of different price points based on the niche you are in, and the value you are providing your clients.
I'll be diving deeper into each of these products and programs in future episodes of the podcast, so don't forget to subscribe so you don't miss out on those.
The goal of a Modern Day Expert is to do the hard work up front and create online products and programs for your online business that end up becoming assets that generate revenue month after month, and can easily generate 6-7 figures over time.
The truth is (and I know this is hard to believe) but many online products and programs are worth more than most people's homes because of the ability to sell them over and over.
I know money doesn't grow on trees, (at least that is what I was told as a child) but we don't need it to when we can literally print money over and over by selling our online products and programs!
Online Products and Programs Teach Step-by-Step Information
When I refer to packaging your expertise online, I am not referring to putting all your years of experience and expertise into an online product or program.
People are not looking to learn everything that you know that has taken you years to learn. In other words, you should not teach concepts or theory in your online products and programs. Instead, you'll teach step-by- step information to help your clients solve a problem, or achieve a goal. They want a short cut!
In order to make sure our clients get results, we need to package our expertise in a way that customers can easily understand and implement what they have learned. When we do that we are adding value. The more value we add, the more we can charge for our online products and programs.
MODERN DAY EXPERT OPPORTUNITY
Now I want to talk to you about 3 of the most life-changing benefits of becoming a Modern Day Expert. These have all been life changing for me, all of my clients, and experts all over the world that sell what they know online.
You Can Earn Unlimited Income
One of my earliest mentors in the online business space, is Jeff Walker
, New York Times best-selling author of the book Launch
. He said "You can make a difference with what you already know and make great money doing it."
Traditional Experts exchange their time for money. They are always in the "time for money trap" and have a cap on their income. There is only one of them, and so many hours in the day. This limits not only their income, but the amount of people they can serve.
Instead of time, Modern Day Experts exchange the value they provide (or the difference they will make in someone's life) for money. Their value is inside the online products and programs I shared with you earlier.
They don't have a cap on their income because they are not delivering that value in person. This creates unlimited income potential because they can sell their expertise 24/7 to an unlimited amount of people.
I want to share an example to illustrate what I mean.
According to a popular finance and investing website the average individual income in 2020 was $62,518.
If you created an online course that you sold for $497, you would only need to sell a little over 10 online courses a month to make the average individual income in 2020.
If you were even more ambitious and sold 17 online courses a month for $497, you would hit the six-figure mark. You would make a little over $100,000.
I want you to consider this: Instead of working 40+ hours every week, why not just do the heavy lifting up front to build an asset for your online business. I know from experience that you can create your online course in just 30-60 days. I have members in the Experts Business Club
that I host that do it all the time.
And, there is NOTHING stopping you at selling just 17 courses a month. The only cap on your income is the cap that you place on it.
I was thinking back, and I remember the amount of blood, sweat and tears (not to mention the hours and the time required) when I was generating a 6 figure income working for someone else. Compare that to spending 30-60 days creating an online course that can generate 6 figures a year....and you can quickly grasp the income opportunity of becoming a Modern Day Expert.
Online products and programs have an extremely high profit margin and a relatively low cost to produce. Once you implement profitable sales and marketing strategies, Modern Day Experts can generate recurring passive income, and generate income on demand. It just depends on your marketing strategies. This can provide you with financial security as well as generational wealth.
The bottom line, friends, is that the difference between a Traditional Expert and a Modern Day Expert is the difference between making a living and making a fortune.
You'll Enjoy the Ultimate Lifestyle
Traditional Experts usually find themselves overworked, and exhausted with little time left for themselves, their families and self-care. Their business comes first, with little time left for things in their personal lives that are the most important to them.
On the other hand, Modern Day Experts are 100% in control of their lives. They can create their ultimate lifestyle, not just in business or work, but in their personal lives as well.
They are not trapped at their desk or office all day, and because they have online products and programs generating recurring revenue, they can leverage their time.
This allows them to work less, so they can build their lives around their businesses, instead of building their business around their lives.
As long as you have expertise that people are willing to pay for, access to the internet and a laptop, you can make a living anywhere in the world! I want you to take a moment to think about the endless possibilities and incredible life experiences you'll have if you can work anywhere.
If you've ever wanted to build a freedom-based business where YOU make your own rules and control your own schedule, becoming a Modern Day Expert is absolutely the way to do it.
You'll Have Greater Reach & Impact in the World
, New York Times best-selling author of The Success Principles
and the originator of the Chicken Soup for Soul Series was quoted saying "the expert Industry is defined by how much value we add to others' lives."
Both Traditional Experts and Modern Day Experts add value to people's lives. The difference is that Traditional Experts are limited in their reach and impact, in the ways that Modern Day Experts are not.
Traditional Experts not only have geographical limitations, they are also limited by the number of people they can serve due to the limitation of hours they have in a day.
On the other hand, Modern Day Experts help people online so they can serve a global audience. They leverage their time with their online products and programs which means they can serve an unlimited amount of people, and that gives them greater reach and impact.
Modern Day Experts can also help more people because (in many cases) they can charge less for their online products and programs than they would need to charge help someone in person, or one on one.
The bottom line is that the more people you can provide solutions to, the more influence you have in your niche. This will give your life a deep sense of meaning and purpose. I know its done that for me personally.
Alright, well you've made it this far into the podcast so I already know that you are not the average Traditional Expert, and that you want to be an extraordinary, Modern Day Expert.
You have been ready for this moment far longer than you've given yourself credit for.
I believe with everything in me that YOU absolutely have what it takes to modernize your expertise and monetize it online! I've done it and so have so many other people. You can do it too.
Your years of experience helping others has put you in the position to generate an unlimited amount of income, create the ultimate lifestyle you've dreamed of, and have a greater reach and impact than you've ever thought possible.
I think it's time to take the opportunity of becoming a Modern Day Expert SERIOUSLY before you are left behind in this digital era.
Your success as a Modern Day Expert is limited only by your belief in yourself, and what is possible. It is YOUR time to do this! And I am here to help you!